Gender pay gap report 2022

In 2022, we welcome the introduction of gender pay gap reporting - a positive initiative helping us to focus our efforts on closing the gender pay gap at Goodlord.

Our company's clear mission is to create the best rental experience in the world, and we know that equality and diversity are vital to achieving this. A balanced team creates a stronger culture and drives better results.

Our Great Place To Work survey results tell us that our Goodlordians already believe they can be themselves at work without fear of judgement or discrimination, and that people from diverse backgrounds are welcomed and can succeed here.

However, there's more to be done. Our gender pay gap data shows that, in spite of our many talented female Goodlordians, we need more women at senior levels. We must take further steps to close the gap and, by reporting for the first time, we have a greater opportunity to highlight where we can most effect positive change.

Our Leadership Team are resolute in their commitment to ensure fairness in pay and progression - regardless of gender - and are personally committed to taking the long-term action that's needed to achieve this.

We recognise that there's no quick fix but that the rewards will be great.

This report will:

  • Outline our gender pay gap figures from the snapshot date of 5 April 2021
  • Provide background detail about our numbers and the initiatives underway to address the gap
  • Provide opportunities that enable women across Goodlord to thrive and grow

All figures in the report are accurate as at the snapshot date.

Jo Harman
People Director

What is the gender pay gap?

A gender pay gap is the difference between the average hourly pay of men and women across a company, expressed as a percentage.

What’s included in the calculations?

Pay is reported as a mean average and median (midpoint) average figure and is based on pay data from April 2021, known as the snapshot date. Calculations include basic pay and bonus pay, and include all employees on the Goodlord payroll at the snapshot date.

Is this the same as equal pay?

The calculation doesn’t directly compare men and women doing the same job (this is equal pay) but it does measure whether both are equally distributed across levels of seniority.

What are pay quartiles?

Pay quartiles are created by ranking the rate of pay for each Goodlordian, then dividing into four equal size groups. We then calculate the percentage of women and men in each group.

Why are we doing this now?

All companies with over 250 employees have to report their results. A gender pay gap exists in most organisations. This statutory requirement is part of a drive to reduce the ongoing pay gap between men and women by encouraging companies to analyse pay within their workforce, understand the underlying causes for their gender pay gap - and take steps to address it.

Mean and median pay explained

Median - midpoint

Lowest paid

Median (M v F)

Highest paid

Mean - average

Sum of male average rates

++

Total number of male Goodlordians

vs

Sum of female average rates

+ +

Total number of female Goodlordians

Our 2022 reported figures

  Goodlord
Mean pay gap 30%
Median pay gap -7%
 

Proportion of men and women, employed on 5th April 2021 that received a bonus

Men 74%
Women 91%

The difference in bonus across male and female employees (our bonus gap)

Median 26%
Mean 63%

What does the data tell us?

After analysing our data, below is a brief summary outlining what the data tells us.

Men and women in each pay quartile

The data shows that we have relatively even proportions of men and women in our lower and lower middle pay quartiles and a slightly higher proportion of women to men in our upper middle pay quartile. However in the upper pay quartile, there is a significantly higher proportion of men to women. Like many organisations, this is representative of the higher proportion of men at Goodlord in our senior leadership team.

Mean gender pay gap using hourly pay

The mean (average) gender pay gap figure uses the hourly pay of all employees to calculate the difference between the mean hourly pay of men and the mean hourly pay of women. Our mean gender pay gap of 30% shows that, when looking at hourly pay, men at Goodlord are paid 30% more than women, on average. This is reflective of the higher proportion of men at Goodlord in higher paid roles and functions.

Median gender pay gap using hourly pay

This is the difference between the hourly pay of the median man and the hourly pay of the median woman. The median for each is the man or woman who is in the middle point of a list of hourly pay ordered from highest to lowest paid. Our median gender pay gap of -7% shows that, when using the median (midpoint), figures show men are paid 7% less hourly than women. This is a clear reflection of the higher proportion of women at Goodlord in middle management roles and in our upper middle pay quartile - which is the quartile in which median pay figures are drawn from.

Percentage of men and women receiving bonus pay

The data shows that 74% of men at Goodlord receive elements of bonus pay whereas 91% of women at Goodlord receive elements of bonus pay. For bonus pay, we look at discretionary bonus and commission but also PRP (Performance Related Pay), specifically the uplifted PRP that is paid for exceeding quarterly goals. This figure could suggest that, at the snapshot date, more women were overperforming than men. Given our PRP structure, this figure may change year on year.

Mean gender pay gap using bonus pay

Our mean (average) gender pay gap using bonus pay is 63%. This means that the men at Goodlord that receive bonuses are receiving 63% more in bonus pay than women. Again, we feel that this is a reflection of our disproportionate range of men and women in higher paying and higher earning potential roles across the business.

Median gender pay gap using bonus pay

Our median (midpoint) gender pay gap using bonus pay is 26%. This means that, when using the median figure of bonus pay received, the men at Goodlord that receive bonuses are receiving 26% more in bonus pay than women.

Key takeaways

We've analysed our data in detail to identify the core factors contributing to our gender pay gap. This has helped us to understand the shape and size of the challenge we face, and recognise how we can accelerate the pace of change in two areas in particular:

1. Male and female balance at upper and upper middle levels

Our gender pay gap shows that we have a higher proportion of men than women in the highest paid roles, along with a slightly lower proportion of men than women in the upper middle pay quartile. Our lower and lower middle quartiles are significantly more balanced, with both male and female Goodlordians evenly populating the lowest paid roles.

This trend is seen in most organisations and this shows we need to do more to create opportunities for women to progress to more senior roles, while ensuring our upper middle pay quartiles remain balanced.

In addition, as these senior roles often have a lower turnover, vacancies arise less frequently, so it’s important to focus efforts on recruitment and ensuring balanced candidate pools.

We acknowledge that addressing this imbalance will take time, so it is a long-term company priority.

2. Male and female variations by function

While we're confident that Goodlordians are paid equally for equal roles, our pay rates vary by function. Some functions - i.e. Marketing and People - are generally more female-dominated sectors and may naturally attract a higher number of female applicants. At Goodlord, certain roles within each function have higher base earnings - i.e. Engineering - and higher earning potential - i.e. Sales. This means the uneven gender split across departments has an impact on our gap.

For example:

  • 88% of female Goodlordians in marketing
  • 20% of female Goodlordians in engineering
  • 25% of female Goodlordians in sales

3. Balancing the percentage of men and women receiving bonus pay

Included in our bonus calculations is our Performance Related Pay approach, to which all Goodlordians are entitled, post probation. We're conscious that these figures may vary year on year depending on employee performance and the proportion of men and women in each quartile.

Going forward, as part of our quarterly process, we'll review and calibrate any disproportion between men and women receiving PRP driven bonus pay and ensure any differential is fair and representative of individual performance.

Narrowing the gap

We're committed to making a positive change, underpinned by:

A working culture that is supportive, flexible, and inclusive, enabling all genders to thrive and succeed

And by focusing on these four key areas:

Developing our women: Supporting them on their journey to achieving higher paying roles

Retaining our women: Enabling them to stay and progress by providing policies that support advancement and combining a career with life outside work

Ensuring our recruitment and promotion processes are fair and free of barriers that could impinge on successful progression

Ensuring our men are aware of their impact and the role they can play in creating an inclusive workplace that is supportive and welcoming to women

Reviewing all pay decisions against fair compensation principles with calibrated decision making so all Goodlordians, regardless of gender, are paid in line with their performance and contribution

Key actions to narrow the gap

Developing our women: Supporting them on their journey to achieving higher paying roles

  • By Q3: Launch a "Mentoring for Women" programme which provides one-to-one learning partnerships with a more experienced mentor
  • By Q3: Gender consideration will be a core aspect of our leadership development programme, with a module dedicated to D&I
  • From Q1: Ensure a proportion of our training budget is dedicated to events for any female Goodlordians that want to attend external development programmes

Retaining our women: Enabling them to stay and progress by providing policies that support advancement and combining a career with life outside work

  • In Q2: Launch our "Mentoring for Mothers" programme which connects returning mothers to a Goodlordian that's been through the same situation and can be on-call for friendly and practical support
  • By Q3: Ensure that all roles have been further benchmarked to ensure all are assessed objectively against the market
  • In Q2: Promote our flexible working policies and benefits, ensuring all Goodlordians are aware of the opportunities and available support
  • On an ongoing basis, We are actively recruiting for more part time roles to encourage a more diverse candidate pool

Ensuring our recruitment and promotion processes are fair and free of barriers that could impinge on successful progression

  • In Q1: Launch a career framework to lay out a clear path forward, demonstrating a clear and more transparent route to progression
  • In Q2: Roll out "Interview Training" that includes a module on conscious and unconscious bias in recruitment
  • In Q3: Introduce natural language processing software that can eliminate bias in recruitment and selection
  • In Q2: Roll out market benchmarking to ensure fair and equal pay for all Goodlordians at point of entry and promotion

Ensuring our men are aware of their impact and the role they can play in creating an inclusive workplace that is supportive and welcoming to women

  • In Q2: Run a listening circle to better understand the perceived barriers that our Goodlordian women face and feed that back to our Leadership Team
  • In Q3: Run an allies workshop for men to understand how they can become champions for gender equality, and identify areas where they may unintentionally causing progression barriers for our women