Gender Pay Gap Information
VEL employed a total of 896 people, of which were 370 are women and 526 are men. (41.3% and 58.7 respectively)
Our Mean Gender Pay Gap dropped by 3.9% to 5.3% and Median Gender Pay Gap dropped 2.8% to 8.32% at the time of reporting.
The Gender Pay gap shows initiatives implemented are having positive impacts.
Bonus
15.2% of staff received a bonus in the previous 12 months. The gender breakdown 13.3% Female and 16.7 % Male. These allocations were paid for incentive rewards, bonus scheme and referrals, this resulted in Mean Bonus Gender Pay at 15.25% and Median Bonus 41.9%.
Quartile Data
Our upper quartile we have a 71/29 split of males to females in our higher earning bracket. Our Upper middle split is similar 62/38 split. This will continue to be a real focus for us to enable women to progress into more senior roles and narrow our gender pay gap. In 2023/2034 we have female Chief Financial Officer, Managing Director, Financial Director and Marketing Director and we are working towards a more balanced leadership team.
Our next initiative is to impact our lower and lower middle quartiles which is reporting an average of 50/50 split.
We have some work to do and will continue to develop a diversity and inclusion strategy not just women but other currently underrepresented groups and continue to review our Talent and Succession planning to ensure decisions are free from unconscious gender bias.
Last updated on 31st January 2024