At LloydsDirect, we believe everyone should be paid a fair salary for the experience they bring to their job – regardless of their gender. So to help us see how we’re doing and make improvements for the future, we’ve carried out our first ever gender pay gap report.
The report measures the difference between the average hourly rate paid to men and the average hourly rate paid to women. By ensuring we reduce the gap, year on year, we will make our company a more inclusive place to work. For everyone.
Since 2020, we’ve made great progress in reducing the gap between what our people are paid. The median pay gap for LloydsDirect is now just 8.24% – a huge improvement on 37.21% in the previous year. And the mean pay gap for LloydsDirect is now 24.94%, down from 30.63% last year.
Out of 226 employees, 33.3% in the top pay quartile and 52.9% in the upper middle quartile are female. Again, this marks a considerable improvement on last year.
“The results of our first gender pay gap report are a reflection of the importance we’ve placed on fair pay regardless of gender. As a company, we’ve evolved how we recruit talent whilst looking to provide opportunities for greater internal career progression. We’ve also updated our pay review processes to be transparent about how we’ll embed fair pay for all roles into our organisation. As people, we’ve shown great enthusiasm for diversity and inclusion working groups. These conversations are helping us understand our individual and collective responsibility to close a gender pay gap that has no place in modern business.”
Connie Cha, Interim Managing Director and Chief Financial Officer
We’ve come a long way. Over the past year we’ve significantly reduced pay disparity across the organisation. In part, we attribute our success to having significantly increased our headcount and being thoughtful about who and how we recruit. We’re excited to continue to make positive changes in this area.
But there’s still work to do.
As we move towards reducing the gender pay gap further over the coming years, we look forward to sharing our progress here.