Gender Pay Gap Report
www.animalfriends.co.uk
About Animal Friends Insurance...
Westley Pearson Chief Executive Officer
Tanya Johnson Chief People Officer
At Animal Friends Insurance, we believe that our people are the key to our success. Our values of Passion, Courage and Kind-heartedness cement our shared commitment to our customers and to our colleagues, offering a richly diverse and open workplace. We share a common ethos that through uniqueness and individuality we can thrive, as people, as a team and as a business, and remain incredibly invested in furthering equality and diversity at Animal Friends Insurance. Equality of gender, sexual orientation, ethnicity, belief or any other outlook are not privileges of the few, they are the right of all. Since our last report, the percentage of women in our Senior Leadership Team has increased to 56% and women outnumber men across the company as a whole, which is unique in an industry that is traditionally very male-dominated. This is an excellent reflection of our culture and values, and although there is always more work to do, I am proud that we are breaking away from that heritage and are on a par with, or exceeding, other companies in our sector in almost all areas. We continue to strive to be a truly diverse and inclusive company where everyone knows they are valued for their individual contribution.
Creating an inclusive culture in which all colleagues have equal opportunity, are treated fairly and feel like they can bring their true selves to work is fundamental to everything we do at Animal Friends. Discrimination of any kind is not tolerated, and we remain absolutely committed to providing a welcoming and diverse working environment, which includes reducing our gender pay gap and bonus gap. Companies of over 250 employees are required by the Government to produce an annual report, and we are pleased to publish our second Gender Pay Gap Report produced from a snapshot of our company in April 2020.
Our Colleagues: Total number of employees captured in the April 2020 report – 374.
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Gender Pay Gap Report 2020 – Animal Friends Insurance
Our Gender Pay & Bonus Gap
Median Pay Gap
What is the Gender Pay Gap?
Simply put, it’s the difference in average earnings between males and females, given as a percentage. However, it means that even if all employees are paid fairly for their roles, should a business have more men in senior positions, and more women in junior positions, a larger gender pay gap will be reported.
17.4 %
Our MEDIAN pay gap is higher than the UK average (11.9%), however it is lower than typically found in Financial Services (22.3%) and Insurance (22.4%).
Pay Gap Mean Pay Gap
Mean vs. Median – What’s the difference? The mean is calculated by adding up all the salaries of the male colleagues and dividing this by the number of men we employ. Then the same is done for female colleagues. The mean pay gap is the difference between these two numbers, given as a percentage. The median is simpler – calculated by ordering every male’s salary from the lowest to the highest, and picking the number directly in themiddle. This is also done for the females. Themedian pay gap is the difference between these two numbers, given as a percentage.
25.8 %
Our MEAN pay gap is higher than the UK average (14.2%), however it is lower than typically found in Financial Services (26.7%) and Insurance (28.7%).
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Gender Pay Gap Report 2020 – Animal Friends Insurance
Pay Quartiles
The percentage of men and women employed by Animal Friends within four equally sized quartiles based on their hourly pay rate in April 2020. Pay quartiles are calculated by listing the pay rates for each colleague, from lowest to highest, splitting the list into four equal-sized groups and calculating the percentage of men and women in each. Our pay gap is smallest in the lower quartile, which typically has structured salary levels for roles which are not negotiated on joining the company. The pay gap is largest in the upper quartile which is not uncommon – this in turn impacts our pay gap by bringing both the mean and median female salary down. Although the pay gap is skewed due to employing more women than men, more men are employed in senior positions than in lower positions, which brings both the mean and median male salary up. Some senior roles, such as those in our large IT team are male-dominated, as they are in most companies in the United Kingdom. We would very much welcome more women applying for our IT roles and other traditionally male-dominated roles. Animal Friends is hopeful that the Government will continue to invest in encouraging more women into these fields.
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Gender Pay Gap Report 2020 – Animal Friends Insurance
Bonus Gap Mean Bonus Gap
Median Bonus Gap
46.9 %
0 %
7.8 % more women than men received a bonus
worked. Therefore, a larger number ofwomenworking part-timewill lead to a larger bonus gap, as bonuseswere pro-rated for part-timeworking. Themedian gap –which accounts for extremes at either end – has this year narrowed to nothing, which is significantly lower than the average gap in Financial Services (39.4%).
A slightly higher proportion ofwomen thanmen received bonus pay in the 12months prior to April 2020 at Animal Friends, with 70%ofwomen and 65%ofmen receiving bonuses. At the time of this report, thereweremore men thanwomen in the Senior Leadership Team, and a larger amount of bonuswas paid at the top level, which explains the largemean bonus gap, although this is down significantly on the previous year’s results. Additionally, the bonus pay gaps are not adjusted for the number of hours
At the time of this report, 33women and twomen were part-timeworkers.
Both mean and median bonus gaps have improved since we published our first report last year – with the mean gap reduced by 20.3 percentage points and the median gap reduced by 11.5 points. It is encouraging to see that we have improved significantly in just one year, and hope to continue this improvement. Both our pay gap metrics, however, have widened which is largely down to an increase in recruitment in areas that are traditionally higher paid and male-dominated. Overall, our mean and median gaps remain lower than the Financial Services average. Despite reporting smaller gaps than other financial services, there is still room for improvement, and we are committed to continuing in this direction.
Year on Year Comparison
2019 Mean Bonus Gap
67.2 %
2019 Median Bonus Gap
11.5 %
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Gender Pay Gap Report 2020 – Animal Friends Insurance
What We’re Doing to Close the Pay Gap
We were very pleased to see an improvement in our bonus gaps between 2019 and 2020. Bonuses are awarded to the majority of the company and applying consistent rules has led to a zero median bonus gap, although the mean gap still remains larger than the UK average. We continue to benchmark all new roles we bring into the business to ensure we are paying rates consistent with the market. Any colleagues who fall under 80% of the market median each year are brought up to this level, providing confidence that, regardless of gender, the correct range for each role is paid.
We are incredibly passionate about providing a culture of fairness, consistency and transparency at Animal Friends, offering a welcoming and diverse colleague environment. Working to improve our gender pay gap and bonus gap is a long-term goal, and key to achieving our equality aspirations is ensuring our initiatives are sustainable. Although we did not see the improvements in our pay gap we were hoping for, we are confident we have planted the seeds of success for the future and have not implemented quick-fix policies that do not tackle the underlying issues. All initiatives put in place are selected because they are best practices that are fully embedded in the culture of our company.
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Gender Pay Gap Report 2020 – Animal Friends Insurance
Creating an inclusive culture
We care because our people care. We want to nurture the future together, working as a unified team to create a better tomorrow, today. Challenging ourselves and the industry to be better, to bemore diverse andmore inclusive is the right thing to do. And by doing so, we also empower amore confident community of colleagues to better serve our customers and to take our business to new levels of success. Wewant to embrace diversity in all forms and strive to improve how we can best support people of all backgrounds and those with disabilities, to ensurewe are truly inclusive. We have, and continue to put in place new initiatives, frameworks and processes to help us achieve our ambition of attaining gender equality. Last yearwe deployed analytical benchmarking for all roles, paying everyonewithin a set range for their role, implemented a robust recruitment policywith structured, competency-based questioning, and applied company-wide consistent bonus criterion. However, one of the most important initiatives has been the continued embedding of our new values. These core values are part of everything we do and help ensure the evolution of our culture where everyone feels they are accepted and have equal opportunity to progress their career with Animal Friends. Since our last report, we began rolling out two programmes to support our colleagues with their career progression: leadership and performance management. We have had more women than men sign up to the voluntary leadership programmes and we have already seen evidence of them helping to empower women to progress their career. Additionally, all managers have now undergone unconscious bias training. We have also implemented our Agile Working Policy which has increased the level of flexibility our colleagues
have in their roles. It has also opened up roles within Animal Friends to new groups of people who otherwise may not have had the opportunity to apply. Since the 2019 report we have seen the impact of the COVID-19 pandemic which had a disproportionate impact on parents who often had to juggle home schooling with work. We were passionate about supporting all our colleagues and accommodated as many flexible working requests as possible, whilst still maintaining a high level of service for our customers. The pandemic gave us an opportunity to reflect on the traditional ideas of how, when and where work should be done, and we are passionate about continuing to learn as we evolve and grow. As we look to improve our gender pay gap and continue the progress on our gender bonus gap we will: Continue embedding our culture, using data to better understand our challenges. Monitor our Agile Working Policy on an ongoing basis to ensure it is delivering on its key aims of improving work-life balance for colleagues while allowing us to reach a more diverse selection of candidates when recruiting. Investigate ways of increasing the number of female candidates we reach with our job advertising, particularly for traditionally male-dominated roles. Overall, we remain committed to improving our culture to one of inclusivity and fairness, and are confident that these measures will continue to reduce our gender pay gap, bonus gap, and make Animal Friends an attractive employer to a diverse group of talented men and women.
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Gender Pay Gap Report 2020 – Animal Friends Insurance
Key Initiatives Implemented
Earlier this year we launched our first official colleague engagement survey. We had some amazing feedbackwith 79% of colleagues telling us theywere very proud to work at Animal Friends and 82% sharing that theywere very happy to be working at the company...
Tanya Johnson, Chief People Officer: “The introduction of our Agile Working Policy in 2020 has had a massive impact on the flexibility we are able to offer our existing colleagues and our
ability to attract new and diverse talent to Animal Friends. Since the publication of our first Gender Pay Gap report (2019), we have implemented a number of key initiatives, each designed to address some of the inherent challenges still found within the UK workforce and specifically within the financial services sector. We are passionate about listening to our colleagues, taking onboard their feedback and working together to ensure our culture is one of fairness, tolerance and equality.” Some of these key initiatives include; 1 Launched our Agile Working Policy giving colleagues more choice on when and where they work. The aim of this initiative was to improve work-life balance and to enable people to progress their career however they work. programme which seeks to support current and ambitious leaders to progress their careers. 85% of the colleagues that enrolled on this voluntary course were women and we are excited to build a pipeline of diverse talent that is embedded in our vision, mission and values. 2 Rolled out our new Aspiring Leadership 3 Incorporated unconscious bias training into all recruitment training, including our Aspiring Leadership programme.
... agreed that everyone here is treated fairly, regardless of race, gender, sexual orientation, or other background.
...agreed their manager supports them in times of change.
However, we still have some things to learn and are working hard to improve in all areas of employee satisfaction. We strive to offer all our people a values-driven environment, where everyone can make a difference both in their role, their team and for the animal welfare and conservation charities we support. Sharing a common ethos, cemented by our evolved mission, vision, and core values, enables Animal Friends to continually improve and offer a diverse workplace where our people are able to make a difference to our customers and animal welfare.
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Gender Pay Gap Report 2020 – Animal Friends Insurance
Our Senior Leadership Team
Westley Pearson Chief Executive Officer
Tanya Johnson, Chief People Officer
Patricia Gardiner Chief Marketing Officer
Richard Mills Chief Operating Officer
Wendy Jiang Chief Financial Officer
Bogdan Szostek Chief Strategy Officer
Somita Yogi Chief Data Officer
Andrew Hyde Chief Information Officer
Margaret Traynor Chief Risk and Compliance Officer
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Gender Pay Gap Report 2020 – Animal Friends Insurance
Protecting animals - I in ur NA
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