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GENDER PAY GAP REPORTING

GENDER PAY GAP REPORTING – SNAPSHOT DATE APRIL 2022

For over 100 years, Freemans has been at the forefront of home shopping, delivering quality products and exceptional service. We’ve accepted the challenge to transform our business into a modern, digital-first retailer.

As a business, we depend on a fusion of identities, characteristics, backgrounds, and cultures to fully appreciate our people and our customers. Gender plays a significant role in this fusion.

Freemans has a long-standing commitment to ensuring fairness and balance.

Our company is an inclusive organisation where everybody can make the most of their talent and abilities. We are proud that our workforce is gender-balanced across all levels of our business, from the executive function downwards.

Our pay, reward, and progression approach is based solely on fairness and merit. Our values and policies ensure that all colleagues receive fair and equitable treatment. We work hard to attract the very best talent, develop our workforce and create a culture of fairness and integrity for our people and our customers

The Background

In 2017, legislation came into force requiring all companies with over 250 employees to publish their gender pay gap.

We strive to create a fair and diverse environment where everybody can realise their full potential. Transparency on our Gender pay gap is an important indicator of our progress.

The gender pay gap measures differences between the average earnings of men and women across the organisation irrespective of grade, seniority or position.

Equal pay 

The Gender pay gap measures the difference in average pay between male and female employees. Equal pay is different, and the Gender pay gap does not measure it.

Freemans plc is committed to providing equal pay for equal work. Working with Willis Towers Watson, we utilise an objective job evaluation process to ensure that we compensate fairly based on job worth.

 

Equal pay
The Gender pay gap measures the difference in average pay between male and female employees. Equal pay is different, and the Gender pay gap does not measure it. Freemans plc is committed to providing equal pay for equal work. Working with Willis Towers Watson, we utilise an objective job evaluation process to ensure that we compensate fairly based on job worth.

 

OUR EMPLOYEES
Our workforce remains gender-balanced, it consists of 61% females and 39% males.

OUR NUMBERS – 2022/23

Gender Pay Gap
Gender pay gap (Mean) – 15.9%
Gender pay gap (Median) – 17%

Pay by Quartiles

Upper

Male 55%
Female 45%

Upper Middle

Male 47%
Female 53%

Lower Middle

Male 40%
Female 60%

Lower

Male 66%
Female 34%

Bonus Gender Pay Gap:
Bonus Gender pay gap (Mean) – 6.5%
Bonus Gender pay gap (Median) – 17.2%

Proportion of Men and Women receiving Bonus:

Upper

Male 40%
Female 60%

OUR RESULTS

We’re maintaining a pay gap significantly lower than the peaks between 2017 and 2019.

Our mean gender pay gap has increased by 2.3 percentage points compared to 2021. It remains over 10 pts lower than its height in 2018.

Shifts in the makeup of the most junior and senior categories marginally widened our gender pay gap compared to last year.

As a family-friendly business, many of our female management and colleague population were on parental leave on the snapshot date – this also impacted our gap for 2022.

Highlights

  • Our upper pay quartile is now closest to an even split between Males and Females than ever. Our upper middle quartile has been consistently even.
  • Males and Females evenly represent our organisation’s senior management and management levels – this is an improvement on the previous year.
  • 70% of new managers and 33% of new senior managers were female. 75% of new joiners in our colleague grades were female.

In 2022 we began the most ambitious digital transformation in our company’s history. We’re creating a less idiosyncratic business through simplification and technology and bringing opportunities to a broader range of talented people.

OUR PLAN
We have respectable rates of retention within our company, the average service of our staff is 11 years, this can make progression challenging. As we work through business transformation, we’ll identify new opportunities and potential for growth – this will enable us to tap into the skills we’re cultivating internally.

Attract

We continue to seek the best talent in the marketplace – irrespective of gender. Our working practices are flexible. We accommodate an agile working policy and excellent paid leave. We have and will continue to attract a diverse and broad talent base.

Recruit

We work hard to ensure gender neutrality in recruitment and base recruitment decisions on merit and objective evidence. We advertise our opportunities widely across all spectrums of society via our internet site and LinkedIn.

Engage

One of our values is Honesty. We encourage and reward this from all staff. In addition to line managers and traditional communication routes, we have several internal mechanisms for the team to give real-time feedback on what’s good and bad. Twice a year, we run pulse surveys to gauge the opinion of our workforce and hear their views.

Develop

We’re continuing our Women in Leadership programme. The programme prepares the next generation of female talent. We also offer some significant leadership development and training opportunities throughout the business. One example is our Inspired Leaders programme which commenced in 2022 and was attended by over 100 managers.We’ve also continued our senior leadership programme to develop further those who’ve been promoted or newly recruited to the senior management team in our company.In addition to leadership training, we’ve invested in workshops to enhance team cohesion and performance.

As with recruitment, we base internal progression opportunities on merit. In the 12 months leading to April 21, 80% of internal promotions were female. We hope to create some new and inspiring female leaders from whom everyone can benefit.

I confirm the gender pay gap data contained in this report for Freemans PLC is accurate and that data reported is accurate as of the snapshot date 5 April 2022.

Ann Steer – Chief Executive Officer

For our previous Gender Pay Gap reports see here: