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

At Secure Trust Bank Group we remain committed to making our organisation a great place to work. It's why we've partnered with Great Place to Work since 2018 to ensure we get honest feedback from our colleagues about working here. We were pleased to once again be named a UK Best Workplace and a UK Best Workplace for Women in 2020 as well as being named a centre for Excellence in Wellbeing. However, we are still committed to improving our gender balance in senior roles which is the key driver of our gender pay gap.

In 2020 we continued to work in partnership with Everywoman and ENEI (Employers Network in Equality and Inclusion) using their expertise to progress our inclusion agenda. These partnership also allow us to track our progress. Having used the ENEI TIDE diversity benchmarking tool for the first time in 2019, we were delighted to be awarded the bronze standard for our approach and progress on diversity and inclusion. The results of the evaluation have shown an increase in our score of 46% based on the previous year.

Despite these positive results the biggest driver of our gender pay gap remains the shape of our workforce. At Secure Trust Bank Group we have a predominance of women at the more junior levels with fewer women in senior leadership roles. We are committed to diversity in the workplace at all levels and will continue to build on the actions outlined below to develop this further, particularly to improve the position at senior manager level.

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.

Actions we have taken to address our GPG - Key Highlights

  • Accommodated changes in working patterns due to COVID-19 to support those with caring responsibilities
  • Utilised our Mental Health First Aiders as part of a wider mental wellbeing support programme in recognition of the additional pressures bought about by the pandemic
  • Analysed available data to diagnose potential issues
  • Launched the Blazing My Trail programme - designed to help colleagues build their confidence and progress their careers
  • Ongoing sponsorship of a wide range of professional qualifications
  • Facilitated monthly webinars with Everywoman to provide inspiration and practical guidance
  • Reviewed people policies, practices and processes for exclusion issues including removing barriers to internal progression
  • Supported colleagues with caring responsibilities throughout COVID 19
  • Relaunched our Mentor Me programme
  • Held colleague focus groups to gain insight into how the performance management process could better support career progression
  • Built a greater network of sponsors and support

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 41.6%

The STB average pay gap is 56.08%

The STB average gender pay gap is 43.3%

2021 Results

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

Results for Secure Trust Bank

Hourly pay

Gender Pay Gap infographic

Gender pay gap mean 43%

Gender pay gap median 42%

Bonus pay

Bonus pay infographic

82.54% men received bonus

86.55% women received bonus

Bonus pay gap

Bonus Pay Gap infographic

Mean bonus gap 75%

Median bonus gap 43.3%

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

All communications with us will be monitored/recorded to improve the quality of our service and for your protection and security.