D&I initiatives having a positive impact on gender balance in lowest paid roles.
Colliers has published its Ethnicity Pay Gap (EPG) data for the first time, alongside its gender pay data for 2021. Colliers is once again publishing its gender pay gap report in advance of the deadline and is amongst the first in the industry to publish ethnicity pay data, despite there currently being no legislative requirement to do so.
The report shows a mean gender pay gap of 38.1% (+0.6% yoy) for 2021 and a bonus gap of 72.7% (-5.8% yoy). When comparing 2021 with 2019 - the last ‘business as usual’ year for pay and bonuses – the figures shows a reduction in pay gap of 5.3% (2019: 43.4%). Meanwhile, Colliers reports a main ethnicity pay gap of 20.4% and a bonus gap of 50.1%.
“We continue to set our own agenda for reporting our pay data, in line with our D&I strategy,” said Tony Horrell, Colliers’ CEO UK & Ireland. “By recording our ethnicity pay numbers alongside our gender pay, we are getting an invaluable picture of the demographic make-up of our business. Publishing this data and being open and transparent about the numbers is a key objective for us and is imperative if we are going to move forward as an industry and continue to lay strong foundations for the next generation of real estate professionals.”
Colliers’ HR Director, Lydia Ings adds: “It is encouraging to see the initiatives we have put in place through our UK Balance in Business programme now starting to be reflected in the figures, with an evening out of the balance in the lowest paid roles this year. The same can be said for the medium upper quartile where there are nearly 8% more women in quartile B and nearly 8% fewer men.
“On face value, our reporting shows that our mean gender pay gap was has increased by 0.6% yoy from 38.1%. However, when we take into consideration the anomaly of 2020 and the challenges that presented commercially, it is much more meaningful from a D&I perspective to compare 2021 with 2019 - the last ‘business as usual’ year for pay and bonuses. With this in mind we’ve seen a reduction in pay gap of 5.3%”
Colliers applied the same methodology to gender pay when calculating the ethnicity pay gap. The report shows a main ethnicity pay gap of 20.4% and a bonus gap of 50.1%, based on 70% of staff completing the ethnicity survey.
Lydia adds: “We are proud to be amongst the first in our industry to publish our ethnicity pay data. This gives us another line in the sand from which to build upon and demonstrates how far we have come as a business in getting the necessary buy in from our people to gather the vital data needed to progress when it comes to D&I in our workplace. By publishing our ethnicity pay data, we are taking responsibility and acknowledging that we are accountable for our own progress.”
Horrell concludes: “Regardless of whether we are looking at ethnicity or gender pay, the fundamental challenge remains the same, we still do not have enough women or non-white senior individuals working in our industry and this is something we remain committed to challenging.”