Pay gap reporting
Recently joining forces with other
FTSE 100 companies, we are encouraging
more businesses to report and campaign
to make ethnicity pay gap reporting
mandatory in the same way it is for gender.
Our third combined Gender and Ethnicity Pay Gap Report
(published in November 2022, reporting the pay gap as
at 5 April 2022) details our commitment to creating a diverse
and inclusive work community that enhances our culture.
We continue to make progress in reducing our gender pay gap. Our mean gender
pay gap decreased by 0.3% (2021: 2.7% decrease), however, our median pay gap increased by 0.4% (2021: 0.7% decrease). During the reporting period, we performed well in retaining women in our upper quartiles (25% women leavers compared to 57% for men), and of the 136 new hires included in the report, 43% were women (2021: 81 new starters, 42% women).
We believe that hiring women early on in their careers and progressing them
through the business, taking into consideration the fact that women are greatly underrepresented in both the technology and automotive sectors, is the most sustainable way to reduce the pay gaps in the long term. Between April 2021 and March 2022, we were pleased to see that women accounted for 41% of all promotions, and we continue to strive to increase this further.
During the reporting period, the mean and median ethnicity pay gaps have decreased by 0.8% and 1.2% respectively (2021: increased by 2.7% and 0.7% respectively). The main drivers include the retention of ethnically diverse colleagues in the upper quartiles while also hiring new talent across the business. The highest representation for ethnically diverse colleagues is still in the lower quartile pay bands, mainly driven by our early careers intake. 33% (2021: 31%) of early career hires during the reporting period were ethnically diverse.
Investing in our people
We recognise that our people are fundamental to our success. In order to attract, retain and develop the best people, we focus on creating a highly collaborative culture where people feel motivated, valued and supported to succeed in their careers.Read More
Making a positive impact
We have a dedicated team of colleagues from across our business who strive to have a positive impact on the communities we operate in.Read More