Gender Pay Gap Reporting
Rich Products Ltd –Gender Pay Gap Reporting Snapshot Date April 23
We are an employer required by law to carry out Gender Pay reporting under the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017. This involves carryng out calculations that show the difference between the average earnings of men and women in our organisation: it will not involve publishing individual employee’s data.
We are not required to publish the results on our website and a government website, but do so voluntarily. This information below is based on data as at the 05th April 2023. At this date Rich employed 204 employees, 54% being male and 46% being female.
Mean hourly pay difference between male and female employees is 3.9%, this means that males are paid 3.9% more than females.
Median hourly pay difference between male and female employees is 4.3%, this means that males are paid 4.3% more than females
Mean bonus difference beween male and female employees is -43.79%, this means that males have received 43.79% less bonus than females.
Median bonus difference between male and females is 100 %, this means that males have received 100% more than females.
57% of males received a bonus and 46% of females received a bonus. 52% received no bonus in the 52 weeks prior to this snapshot date.
Gender Split Pay Quartiles
|Lower Middle Quartile||54%||46%|
|Upper Middle Quartile||54%||46%|
We have seen in an increase in the mean and median percentage due to a change in the ratio of managers within our business.
With our bonus percentages the mean is higher for females as we have more females in executive positions than men. The median shows that men are higher as we employ a higher percentage of females in the area that did not receive a bonus.
What are we doing next
We will continue to benchmark our roles and develop all of our employees. We are currently reviewing our processes to improve the ratio between male and females within our business.