Secure Trust Bank Group has published its Gender Pay Gap figures for the third year.

Secure Trust Bank remains committed to creating an inclusive culture that reflects the diversity that we see in the people of Britain. Although results from our employee surveys in 2019 saw us ranked as both a UK Best Workplace and a UK Best Workplaces for Women, we know that we still have a significant amount of work to do to improve our gender balance in senior roles.and are aware that it will require long-term focus to ensure that today's talent pipeline can become the business leaders of tomorrow.

The biggest driver of our gender pay gap is the shape of our workforce. The gender pay gap compares all employees and does not take into account the wide range of differences in the roles performed, individual expertise and experience, or other factors which legitimately impact the way in which different employees are paid.and are aware that it will require long-term focus to ensure that today's talent pipeline can become the business leaders of tomorrow.

Our data highlights we have a predominance of women at the more junior levels with fewer women in the senior leadership roles coupled with limited turnover at our most senior levels. In a relatively small employee base with limited numbers of senior female employees any changes in personnel and pay and bonus decisions at senior levels have a meaningful impact on the figures we report.and are aware that it will require long-term focus to ensure that today's talent pipeline can become the business leaders of tomorrow.

We are very aware that the future of both our company and our society relies on every person having an equal opportunity to progress their career regardless of their personal background and circumstances - be that gender, ethnicity, age, or any other factor. We remain committed to redressing any imbalance in our workforce and are aware that it will require long-term focus to ensure that today's talent pipeline can become the business leaders of tomorrow.

What we are doing to address our GPG

  • Our partnerships with Everywoman and the Employers Network for Diversity and Inclusion (ENEI) are helping us to make significant progress with our Inclusion Agenda and this is supported from the very top of our organisation. Our Chief Executive, Paul Lynam, is an Everywoman Advocate and a number of senior leaders are Everywoman Ambassadors
  • We have introduced mandatory unconscious bias training for all line managers
  • We are using technology to ensure that the language used in job adverts and role profiles is unbiased
  • We have relaunched our Group wide mentoring programme - MentorMe
  • We have made further enhancements to our Family Friendly policies that already went significantly beyond statutory requirements
  • We have launched our Workwise policy to offer a more progressive approach to flexible and agile working
  • We have continued to build on existing Apprenticeship and Graduate Programmes with new recruitment during the year
  • We continue to invest in professional qualifications including LIBF (London Institute of Banking & Finance) and offer a wide range of learning and development initiatives to support all of our staff to reach their full potential

What is the gender pay gap?

The GPG figures look at pay in the organisation from top to bottom as a whole, removing any notion of seniority, length of service, or specialism. They are an indication of male and female representation within the hierarchy of the business rather than an indication of a difference in male and female pay in the same role.

Equal pay

Is men and women being paid the same for the same work.

Equal Pay infographic

The gender pay gap

Is the difference between total hourly earnings for all men when compared to the total hourly earnings of all women within an organisation.

Gender Pay Gap infographic     

Nationally, one of the main reasons for the gender pay gap is that men are more likely to be in senior roles. As with other Financial Services companies this is the case at STB.

How is it calculated?

The STB median pay gap is 52.05%

The STB median gender pay gap is 52.05%

The STB average pay gap is 56.08%

The STB average gender pay gap is 56.08%

The V12 median pay gap is 16.97%

The V12 median gender pay gap is 16.97%

The V12 average pay gap is 36.92%

The V12 average gender pay gap is 36.92%

2020 Results

Please note figures relate to Secure Trust Bank and V12 Retail Finance only as Debt Manager Services Ltd is not currently included in the government reporting requirements.

Results for Secure Trust Bank

Hourly pay

Gender Pay Gap infographic

Gender pay gap mean 56.08%

Gender pay gap median 52.05%

Bonus pay

Bonus pay infographic

78.57% men received bonus

83.78% women received bonus

Bonus pay gap

Bonus Pay Gap infographic

Mean bonus gap 80.51%

Median bonus gap 52.96%

Gender representation by pay quartiles

Gender representation by pay quartiles

 

Results for V12 Retail Finance

Hourly pay

Gender Pay Gap infographic

Gender pay gap mean 36.92%

Gender pay gap median 16.97%

Bonus pay

Bonus pay infographic

75.00% men received bonus

75.89% women received bonus

Bonus pay gap

Bonus Pay Gap infographic

Mean bonus gap 74.22%

Median bonus gap 23.03%

Gender representation by pay quartiles

Gender representation by pay quartiles

 

Secure Trust Bank PLC. Registered in England and Wales 541132. Registered Office: One Arleston Way, Solihull, B90 4LH.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our registration number is 204550

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