Gender Pay Gap Report 2024/5

This year, our gender pay gap shows that women earn 96p for every £1 men earn. In recent previous years, we have continued to close this gap. The gap stands this year at 3.01%, in 2022/23, this gap was 3.6%. We always have, and always will, recruit based purely on talent and finding the right person for the role – irrespective of gender.

We are extremely proud that 43.4% of our Senior Management Team are female. What makes the Beaverbrooks Group so special is that we are a company full of like-minded individuals, and there's shared values between us all. For us, it’s important that our people know our dedication to achieving gender equality, and how important it is to us to celebrate the women in our business.

As a working mum, I understand how important it is that we close the gender pay gap as much as possible, to give our people equal opportunities. We are also passionate about investing in people already in the business, through our Management Development Training programme. In 2024, 63.6% of participants were female.

At the Beaverbrooks Group, our people are at the heart of our business. Colleague wellbeing and happiness is of utmost important to us, and we believe that our people thrive in environments that promote strong communication and engagement. Because of our commitments to enriching the lives of our people, we’ve achieved many awards and are incredibly proud to have been in the 100 Best Companies to Work For list for 20 consecutive years. We’ve been honoured with a Lifetime Achievement Award for being in the top 10 for five consecutive years and received a 20-year commitment award. I’m incredibly proud of what we’ve accomplished as a company.

Managing Director.

At the heart of our brand for over 100 years is our relationship with people.

Our purpose of enriching people’s lives is supported by our key values (passion, integrity, caring, trust and fairness) and our behaviours, set out in a document we call The Beaverbrooks Way. It’s a company ethos by which all decisions are made and everyone in the business works within.

Our Results

Our figures are based on 1,020 relevant employees for the pay gap, working in our branches, boutiques and offices. Beaverbrooks is fully compliant with the requirements of The Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.

Hourly Rate of Pay

There are three reasons for the gap:

• There are more males in specialist roles which tend to pay higher. We have seen more women than last year in our top 30 paid roles, so this gap is closing.
• There are more males than females in the senior management team (56.6% male and 43.4% female). With high retention in this group, there has been little movement here.
• There are more females in our National Living Wage paid roles, such as branch cleaners. This is seen in our quartiles below, where 77.25% of the lower quartile is female.

In the last year, we have continued to recruit the right people for roles based on experience, qualities and alignment with our core values. 78% of colleagues promoted in the last year are female.

We believe in treating fairly and we do not employ anyone on zero hours contracts.

Our Quartiles

Overall, we are 77.3% female and 22.7% male (based on the relevant colleagues in this report). The proportion of females compared to males is fairly consistent in all four quartiles and is close to our overall split.

• Lower: 22.75% Male, 77.25% Female
• Lower Middle: 20.39% Male, 79.61% Female
• Upper Middle: 24.71% Male, 75.29% Female
• Lower: 27.45% Male, 72.55% Female

• In the last 12 months 78% of all internal promotions were women
• 26% of our senior management team are working mums
• We help people have a great work life balance

Bonus

Using the GPG methodology, our bonus pay gap suggests that women earn 97p for every £1 men earn in bonuses, when comparing median (average) bonus payments; this is a 3.55% difference.

These figures show that overall, our female colleagues have earned lower bonuses as they are calculated based on overall annual salaries and are not pro rata for the full-time equivalent. Also, many of our higher earning female colleagues tend to work in our stores and branches.

These figures do not accurately represent our bonus payments due to reporting methodology, meaning we are unable to calculate our mean and median bonus figures based on full-time or full-year equivalent comparisons for colleagues.

• 78% of our part time colleagues are female and only 22% male
• 5.3% of women have been on maternity leave, meaning they have only been eligible for bonus payments for a part-year
• 30% of the women in the Senior Management Team are part-time

This means that the women above would have received a lower bonus compared to their male colleagues that are full-time or have worked a full year.

• We give every team member with over 12 months service a gift of one week’s wages every year.
• 90.19% of males and 88.80% of females received a bonus

Full Time Employees

• 55% of all females are full time
• 77% of all males are full time