Gender Pay Gap Report

Statement

Any UK business employing more than 250 employees must publicly report on its gender pay gap. The gender pay gap shows the difference in the average earnings between all men and women in an organisation.

Iceland is committed to equal opportunity in recruitment and employment irrespective of gender. Our entire pay principles are based on the skills required to deliver in role and our desire to attract and retain talent within the organisation.

Our pay system spans across all bands ranging from administrative to managerial level. According to the Office of National Statistics, the overall UK mean gender pay gap is 17.9%.  We are therefore encouraged that our gender pay gap is significantly below the national average, with Iceland’s mean gender pay gap standing at 13.5% with the median gender pay standing at 11.8%.

Our analysis shows that our smaller gender pay gap is largely attributed to a balance between the number of men and women who are employed in more senior positions, as these roles attract a higher remuneration.

We recognise that whilst our gender pay gap is significantly below the national average, we must continue to ensure that focus is maintained on this important area of equality. We are committed to encouraging an improved gender balance throughout our business enabled by inclusive people policies and processes.

Commentary

The mean gender pay gap is 13.5%
The median gender pay gap is 11.8%
The mean gender bonus gap is 57.7%
The median gender bonus gap is 43.9%
The proportion of male employees receiving a bonus is 1.8%
The proportion of female employees receiving a bonus is 1.6%

 

Employees by Pay Band (Total)

Gender Band A Band B Band C Band D
Female 3,896 3,338 2,496 1,793
Male 1,633 2,192 3,034 3,738

Employees by Pay Band (Percentages)

Gender Band A Band B Band C Band D
Female 70.5% 60.4% 45.1% 32.4%
Male 29.5% 39.6% 54.9% 67.6%

I confirm that our data is accurate and has been calculated in accordance with the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.

Tarsem Dhaliwal
Group Managing Director

5th April 2018