Unum UK hits Women in Finance Charter targets and reduces median gender and ethnicity pay gaps
Alongside all employers with more than 250 employees, Unum UK reports our gender pay gap annually.
The gender pay gap — not to be confused with the issue of equal pay — shows the difference in the average hourly rate of pay between women and men in an organisation expressed as a percentage of average male earnings. We’re pleased to report that our median pay gap in 2021 reduced since last year.
For the second year in a row, we’ve also voluntarily reported our ethnicity pay gap (data showing pay differences among ethnically diverse employees), reflecting our dedication as a signatory to the Race at Work Charter. Based on 89% of employees who shared their ethnicity data with us, the median pay gap fell by more than 6 percentage points in the past year.
Unum continues to make good progress against our HM Treasury Women in Finance Charter targets. We set ourselves the target of having at least 35% female representation on our Executive Committee and 40% within our wider senior leadership team towards the end of 2021. We’ve achieved 43% female representation on our Executive Committee and 40% female representation on our leadership team and will continue working on these objectives and set a new target in September.
As a responsible business, Unum UK is focused on corporate social responsibility and, as part of Unum Group, has been recognised as one of the World’s Most Ethical Companies by Ethisphere.
Jane Hulme, HR Director comments:
“In our fifth year of reporting our gender pay gap data, we’re proud of the progress we’ve made. We encourage our employees to feel comfortable sharing their diverse backgrounds. By understanding our demographics, we can remove any barriers or biases to ensure everyone has a fulfilling experience. Unum provides equal opportunities for employees of all backgrounds and gender identities to ensure we have an inclusive culture where everyone can bring their true self to work.”
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