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Gender pay review report

Gender pay review report

Report Narrative

Following a government-led consultation in 2016, gender pay reporting legislation requires private sector employers with 250 or more employees to publish statutory calculations every year showing the pay gap between their male and female employees. As demonstrated in our published report, Radius has carried out the six statutory calculations which I can confirm are based on accurate data.

Our Gender Pay Gap has decreased from 36% to 34% for our last financial year ending April 2023. The reduction in the gap has been influenced by an increase in female representation in Q4. Our gender balance within Q4 has improved from 22% females to 25% and our mean hourly pay in Q4 is more favourable towards females. The difference in our mean hourly pay across each quartile 1, 2 and 3 is also less than 1%.

We will continue to support a number of initiatives through FY25 which are designed to enable all staff equal opportunity and an equal chance to progress in the business. This includes the launch of our new online Learning hub to support those colleagues who want to develop and progress their career, capability and skill sets with us. We have introduced and invested in a Reward function in October 2024 which has allowed us to start building reward frameworks, focussing first on designing and introducing a new grading system to assist us to start identifying career pathways and to provide benchmarking information aiding the decision-making process of pay positioning, pay increases and the rationale for starting salaries or adjustments.

We have also introduced a new Global Talent Mobility Manager role who is responsible for validating our various talent groups which have been identified and matching them to a development/learning opportunity or matching them to a new role within the business to ensure we retain and grow our best talent. This role ensures that all of our talent is validated by the same set of guiding principles ensuring equal opportunity. We continue to invest in the developments within our HR information system to provide better insights into our colleague demographic. We have also captured a greater understanding of our colleague demographics through various surveys, including our global talent mobility survey and our employee engagement survey in 2024.

We believe that these initiatives will help to continue to drive equal opportunity and we will continue to commit to ensuring our pay ranges are market tested, and fair for each role, striving to continue to narrower pay gap ranges.

Gender Pay Reporting

Mean gender pay gap 34%

This calculation requires an employer to show the difference between the mean hourly rate of pay that male and female full-pay relevant employees receive a positive % reveals that typically or overall, female employees have lower pay or bonuses than male employees.

Median gender pay gap 20%

This calculation requires an employer to show the difference between the median hourly rate of pay that male and female full-pay relevant employees receive a positive % reveals that typically or overall, female employees have lower pay or bonuses than male employees.

The mean bonus gender pay gap 64%

This calculation requires an employer to show the difference between the mean bonus pay that male and female relevant employees receive a positive % reveals that typically or overall, female employees have lower pay or bonuses than male employees.

The median bonus gender pay gap 39%

This calculation requires an employer to show the difference between the median bonus pay that male and female relevant employees receive a positive % reveals that typically or overall, female employees have lower pay or bonuses than male employees.

Proportion of males receiving a bonus payment 65%

This calculation requires an employer to show the proportion of male relevant employees who were paid any amount of bonus pay, including commission.

Proportion of females receiving a bonus payment 66%

This calculation requires an employer to show the proportion of female relevant employees who were paid any amount of bonus pay, including commission.

Gender Pay Reporting - Quartile pay band

The calculation requires an employer to show the proportions of male and female full-pay relevant employees in four quartile pay bands, which is done by dividing the workforce into four equal parts.

Comparing these results will indicate the distribution of full-pay relevant male and female employees in the quartile. Comparing results between the quartiles will indicate the distribution of full-pay relevant male and female employees across the organisation.