Reiss is an International business, with a clear purpose and core values of honesty, transparency, authenticity, trust and we are proud of our diverse and global talent and believe in attracting and retaining individuals that can bring new ideas as our progression is driven by our people. Undertaking this gender pay gap analysis has provided us with constructive insight, and having completed this report we are confident that men and women are paid equally for doing equivalent jobs across our business. Our policies and opportunities are fair and equitable for all.
Gender pay is different to equal pay. Equal pay is about paying men and women the same for equal work. The gender pay gap is the difference between the average pay of all men and all women across the whole organisation. Having a gender pay gap does not mean that men and women are not being paid equally.
UNDERSTANDING OUR NUMBERS
Our gender pay gap report shows the average pay differences of male and female employees. The pay and bonus data includes our UK Retail, Head Office and Executive teams. The pay data includes basic pay and variable pay at the snapshot date on 5 April 2017. The bonus data includes bonus paid during the 12 months prior to the snapshot date.
Over 65% of our company population are female. The majority of our headcount work in the Retail side of the business. 70% of our Retail management teams are female. We operate Retail pay bands and bonus schemes which are open to all team members and management.
Whilst there is equal progress through our pay quartiles, our senior Head Office, leadership and executive roles attract higher average salaries. A higher proportion of these positions are held by male employees. This has influenced our mean pay gap. Median data can be viewed as more meaningful data, as it is less impacted by any atypical values. Our median pay gap of -0.4% is significantly lower than the national average of 18.1%.
Almost equal proportions of our men and women receive bonus. The bonus date range was an atypical year for the business as a number of bonuses were paid to senior management in relation to a sale of a majority stake in the business to a new investor. This is reflected in our mean bonus average data.
CLOSING THE GAP
We continue to take steps to ensure all our team members at all levels are supported in their roles to perform to their potential. We are committed to providing learning and training opportunities to help develop future talent and our over-arching hope is that people will be richer through their experience of having worked at Reiss.
We know we can always do more and are committed to improving. We recognise there is more work that must be done to redress the gender pay gap. Since the snapshot date on which this report is based a number of senior appointments have been made and a number of appointees are female. We will continue to take progressive steps to identify the reasons and address the gender pay gap.
I confirm that the information in this report is accurate.
People & Culture Director, Reiss Ltd.
GENDER PAY DIFFERENCE
GENDER BONUS PAY DIFFERENCE