IKO Gender Pay Gap Data
3rd April 2019
What is the Gender Pay Gap?
The Gender Pay Gap is the difference between the average pay and bonuses of all men and women across an organisation.
The Gender Pay Gap does not measure equal pay, which relates to what women and men are paid for performing equal work. At IKO we are confident that men and women are paid equally and fairly throughout our organisation. We continually review our practices to ensure fairness and equality in all of our activities, including those around reward and remuneration.
The The Gender Pay Gap Data for IKO PLC on 5th April 2018 is as follows:
Understanding the Gap
As is typical of many manufacturing companies, our workforce is comprised of considerably more men than women. Our employees are 85% male and 15% female.
There are a number of factors which drive our Gender Pay Gap results; however we have identified 3 key areas:
1. Working Patterns
There is a higher proportion of men working in production and engineering roles who operate on shift pattern which attract a shift premium payment and production bonuses.
2. Women in Senior Leadership roles We currently have relatively few women in senior leadership roles across the business.
3. High Retention RatesAt IKO we have a retention rate of 82% therefore balancing out diversity across the organisation is something that will take time.
Our Commitment to Closing the GapAs an organisation we are committed to being a place of fairness, inclusion and respect in which to work.
To improve the number of women in senior roles, our priority is to encourage better gender diversity and to have better representation of women at all levels in our business. To support this we will continue to roll out our development programmes to support internal career progression across senior management and field sales roles, taking into account the needs of women and other under-represented groups at all levels.
Across the business we have been promoting diversity and inclusion and offering training to men and women who show aptitude and interest in all roles, transferring and promoting internally.
We will repeatedly review our recruitment and attraction activities ensuring we have inclusive bias-free recruitment practices and that all our external communications and job advertisements use gender neutral language and encourage applicants seeking part time and flexible working.Our recruitment practices will focus on potential, rather than like-for-like experience.
Our work with local schools and youth centres to inspire more girls into the manufacturing sector will continue.
We will actively increase our inclusive approach to flexible and agile working practices, to best support the effective management of work and non-work to the benefit of both the business and our people.
We have made small inroads since our last report however we recognise there is more work to do. Given the make-up of the organisation and retention rates of employees, closing the gap won’t happen overnight. Recognising the benefits of having a diverse workforce, including gender balance, means that we will continue to strive for this by showing strong leadership, identifying positive actions we can take, ensuring fairness and equality in all our activities, and ongoing engagement with our staff.