Report Narrative


Following a government-led consultation in 2016, gender pay reporting legislation requires private sector employers with 250 or more employees to publish statutory calculations every year showing the pay gap between their male and female employees.

As demonstrated in our published report, Radius has carried out the six statutory calculations which I can confirm are based on accurate data.

At 30.0%, our mean gender pay gap is currently smaller than the indicative average for the financial services industry in which we operate (34%) but greater than the indicative average for the UK as a whole (17%). The results of the quartile pay band calculations indicate that the pay gap is primarily an issue in the top quartile of employees which includes the board of directors and a number of significant shareholders. The proportions of male and female full-pay relevant employees across the first three quartile pay bands are very well balanced with more women employed in quartiles 2 and 3.

We are confident that men and women are paid equally for doing equivalent jobs across our business. Our main challenge therefore in closing the mean gender pay gap will involve increasing the number of female employees in very senior positions in the Group. We are committed to achieving this and will continue to support a number of initiatives designed to afford all staff an equal chance to progress in the business. These include our flexible working request process, child care vouchers, mixed gender recruitment panels and a transparent application process for our Graduate Management Programme and internal Leadership Development Programme.

Bill Holmes
Chief Executive Officer






Gender Pay Reporting


Total employees %

Employees receiving a bonus %


Mean gender pay gap 30.0%


This calculation requires an employer to show the difference between the mean hourly rate of pay that male and female full-pay relevant employees receive. A positive % reveals that typically or overall, female employees have lower pay or bonuses than male employees


Median gender pay gap 13.7%


This calculation requires an employer to show the difference between the median hourly rate of pay that male and female full-pay relevant employees receive. A positive % reveals that typically or overall, female employees have lower pay or bonuses than male employees


The mean bonus gender pay gap 67.3%


This calculation requires an employer to show the difference between the mean bonus pay that male and female relevant employees receive. A positive % reveals that typically or overall, female employees have lower pay or bonuses than male employees


The median bonus gender pay gap 50.0%


This calculation requires an employer to show the difference between the median bonus pay that male and female relevant employees receive. A positive % reveals that typically or overall, female employees have lower pay or bonuses than male employees


Proportion of males receiving a bonus payment 28.6%


This calculation requires an employer to show the proportion of male relevant employees who were paid any amount of bonus pay


Proportion of females receiving a bonus payment 30.6%


This calculation requires an employer to show the proportion of female relevant employees who were paid any amount of bonus pay






Gender Pay Reporting –
Quartile pay band


The calculation requires an employer to show the proportions of male and female full-pay relevant employees in four quartile pay bands, which is done by dividing the workforce into four equal parts.

Comparing these results will indicate the distribution of full-pay relevant male and female employees in the quartile. Comparing results between the quartiles will indicate the distribution of full-pay relevant male and female employees across the organisation


Quartile 1


Total employees 245

Findings:

Of the 245 employees in the lower quartile, 119 are male and 126 are female. This means 48.6% are male and 51.4% are female.


Quartile 2


Total employees 245

Findings:

Of the 245 employees in the lower middle quartile, 115 are male and 130 are female. This means 46.9% are male and 53.1% are female.


Quartile 3


Total employees 245

Findings:

Of the 245 employees in the upper middle quartile, 126 are male and 119 are female. This means 51.4% are male and 48.6% are female.


Quartile 4


Total employees 245

Findings:

Of the 245 employees in the upper quartile, 179 are male and 66 are female. This means 73.1% are male and 26.9% are female.




Gender Pay Gap Report and Narrative PDF


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