IKO Gender Pay Gap
28th May 2018
Under new legislation, UK companies with more than 250 employees have to report on their gender pay gap – the difference between the average amount that men and women are paid across the whole work force. This is IKO PLC’s first annual Gender Pay Report. It supplements the data we are required to submit, providing a contextual understanding of our figures whilst stating our commitment to foster an inclusive workplace.
Pay Gap Data
Our statutory Gender Pay Gap reportable data covering pay as of 5th April 2017, and bonuses paid in the year to 5th April 2017, is as follows:
What do we think is the main cause for the gender pay gap in IKO?
We are confident that men and women are paid equally for doing equivalent jobs across our business. We have graded jobs with a salary pay structure which is transparent and published on our intranet. Female and male employees doing the same job are paid equally.
However the manufacturing and construction sectors face a huge shared challenge to inspire more females to enter into the sector and develop careers into technical, engineering and mechanical roles, which tend to be more highly paid.
Our production departments run a 3 shift pattern commanding a premium pay for shifts and are nearly 100% male with few females applying for these roles.
There are also fewer female employees working/applying to work in field sales which are predominantly higher paid.
We have two bonus schemes running within the business. The first is a production based safety bonus and the second a sales bonus scheme for field sales personnel. Both of these areas of employment as previously highlighted are predominantly male employees currently.
The majority of our lower paid administrative roles have been filled by female employees. Conversely in this area we struggle to attract male applicants.
Taking action to close the gap
To remedy this and make sure IKO is a place where women come to succeed and to close our gender pay gap we plan to:
- Continue to roll out our development programmes to support career progression across senior management and field sales roles, taking into account the needs of women and other under-represented groups at all levels.
- Attract and hire more women into our business through inclusive bias-free recruitment practices.
- Introduce a mentoring programme for female employees to receive support to help them progress to the next level of their career.
- Continue our work with local schools and youth centres to inspire more girls into the manufacturing sector.
- Continue to review our flexible and agile working practise, to best support the effective management of work and non-work life to the benefit of both the business and our people.
- Promote both construction and IKO as a fantastic career opportunity for all people female and male.