Tackling gender pay gaps: A continuous process

This post goes beyond mere acknowledgment of the gender pay gap; it's about our continuous commitment to closing it, the strides we've made so far, and the roadmap we've charted for an equitable future at OneAdvanced.

The challenge we face

In our seventh year reporting on gender pay gaps, we are seeing significant positive process. Our latest Diversity Pay Gap Report for 2023 reveals an encouraging figure — a median gender pay gap of 6.2%, a statistic that stands below the national average of 9.4% and our specific industry's average. These numbers signify progress, but they also show that we have a responsibility to continue making progress.  

When we began the process of gender pay gap reporting in 2017, the median gender pay gap was a formidable 19.8%, a stark testament to the disparities present in the workplace. Progress has been non-linear and often challenging; we witnessed it peak at 25.8% in 2018 before reducing to 15% in 2019. The downward trend since then is a validation of our sustained efforts but also a reminder that closing the gender pay gap is not a one-time initiative.

The approach we take

Tackling the gender pay gap requires a diversified approach that involves every layer of the organisation. Our commitment to this cause stems from our belief that diverse and inclusive workplaces cultivate innovation, increase employee morale, and bolster organisational performance. We have put in place structured frameworks to ensure that our efforts are robust and continuous.

We have seen how our process of reporting makes a significant difference. We are informed and ready to act. This is an important principle: by learning and researching, we can make targeted changes which make a difference for our people.

Measurable steps include conducting regular pay reviews that are explicitly tied to performance and measured against agreed-upon criteria defined within our Performance and Talent platform. We are deliberate about tying pay to roles and responsibilities, ensuring that these elements are gender-neutral and just. This approach doesn't just echo our commitment to reducing gender pay gaps, but also serves as a beacon, expressing our culture's investment in fairness and non-discrimination.

Our future practice

Our responsibility does not end with the publication of our report or the public declaration of our intent to bridge the gender pay gap. We're committed to a future where the pursuit of pay gap reductions is not just a legal requirement but an entrenched feature of business culture. Our focus is set on the horizon, with plans and programs that will evolve as the workforce and the world around us change.

We envision a future where gender bias does not create a barrier to opportunity, and where our workforce mirrors the vibrant diversity of the society we serve. This future is not distant — it is a series of present actions, assessments, and adjustments that we commit to undertake with diligence and intent.

The value of tackling gender pay gaps for OneAdvanced

Our sustained commitment to addressing gender pay gaps has yielded results that extend beyond financial equality. We've seen a marked improvement in the representation of women at OneAdvanced, especially in senior leadership roles. This transformation in numbers heralds a qualitative shift, infusing our organisation with a diversity of thought, experience, and skill sets.

The presence of women across all levels within the organisation is a source of strength and diversity of thought in our decision-making processes and solution-seeking. It sets the stage for a culture of inclusivity, where every individual, irrespective of gender, feels valued and believes in their potential for contribution — a cultural evolution that benefits our employees and customers alike.

The fight against gender pay gaps is a defining challenge for contemporary workplaces, and at OneAdvanced, we do not shy away from it. We invite you to download our Diversity Pay Gap Report 2023, to understand our approach, discover our methods, and help us to hold ourselves accountable to our promise greater equality.