What is a Gender Pay Gap
This report summarises Neal’s Yard (Natural Remedies) Ltd, Gender Pay Gap Report 2024, with a snapshot date of 5th April 2024.
A Gender Pay Gap is the difference between the Mean (average) and Median hourly pay rates of men and women, expressed as a percentage difference of men’s earnings. Therefore, a positive percentage means a women earns less than a man per hour, whereas a negative percentage indicates on average women are earning more than their male counterparts.
Per the requirements of Gender Pay Gap information regulations 2017, this report also includes a Gender Bonus Gap, expressed as a Mean and Median of male bonuses over a 12-month period.
At Neal’s Yard Remedies, we continuously strive to be a fair employer, regardless of gender. The Gender Pay Gap information included in this report only represents binary Male and Female genders based on the information provided by each employee, as per legislation. We understand not everyone identifies with binary gender and as per regulations, are not included in this report.
UK Gender Pay Quartile Split
The majority of our staff are female, in previous years, we have seen a lower number of females in the upper earnings quartile and our focus this year has been to create opportunities for more women to move into roles through internal promotions, where these roles have typically been held by men. Creating more balance across our leadership structure.
Our gender pay quartiles
Gender Pay Gap
The approach we have taken towards gender balance has led to significant changes in both our mean and median pay gap in 2024.
Our mean gap has decreased by 18%, from our April 2023 figures and is now over 8% lower than the provisional UK average estimate of 13.8%. While our median pay gap has also decreased by 8% from 2023.
Both mean and median figures sit at the lowest pay gap since our reporting began in 2017 and are significantly below the UK average based on Provisional figures reported by the Office for National Statistics.
93% of our retail colleagues are female, and due to it being a sales orientated role, this means females have received the highest proportion of our bonuses.
Gender Pay Gap and Continuous Improvement
We're always looking for ways to improve, and over the coming year, we have exciting initiatives planned to support pay equity and career growth. Our goal is to create a workplace where everyone feels valued, rewarded, and has the opportunity to grow and succeed.
In prior years, the concentration of males in our business in higher earning positions has meant our Gender Pay Gap was unbalanced. However, the steps we have taken over the last year, has seen an increase in female representation within our senior leadership roles through internal promotion. We continue to maintain a fair and open recruitment process for everyone regardless of gender and persist in a process which is attractive to all applicants.
For our lower earning positions, through continuous benchmarking, we continue to balance pay for comparable roles across our eco-factory, retail and office teams, naturally helping to lower the Gender Pay Gap within the business.
Marie Harris,Director of People & Development
5th April, 2024
