QBE has published its latest gender & ethnicity pay gap report in the UK, which also outlines the actions taken by the insurer to drive change last year.
According to the report sent by QBE to Insurance Business, below are the UK pay gap figures.
Gender
|
Metric |
2022 |
2021 |
2020 |
|---|---|---|---|
|
Median pay gap |
28.4% |
28.6% |
26.2% |
|
Mean pay gap |
24.7% |
25.8% |
26.6% |
|
Median bonus gap |
39.5% |
37.5% |
35.8% |
|
Mean bonus gap |
50.1% |
53.3% |
57.8% |
Ethnicity
|
Metric |
2022 |
2021 |
2020 |
|---|---|---|---|
|
Median pay gap |
-3.1% |
-12.7% |
-10.4% |
|
Mean pay gap |
10.4% |
5.5% |
7.9% |
|
Median bonus gap |
22.6% |
21.1% |
43.9% |
|
Mean bonus gap |
52.6% |
54.6% |
54.9% |
“We are serious about creating an environment which enables all our colleagues to be their best, to be themselves, to have a voice, and to be valued for their contributions,” said international chief executive Jason Harris in the report.
“Publishing our combined gender & ethnicity pay gap report is important to us, and we will continue to do so to ensure that we are being transparent and holding ourselves to account.”
In terms of representation per pay quartile in 2022, the QBE report shows the following numbers:
|
Gender / ethnicity |
Lowest |
Q2 |
Q3 |
Highest |
|---|---|---|---|---|
|
Male |
47.4% |
48.9% |
65% |
71.2% |
|
Female |
52.6% |
51.1% |
35% |
28.8% |
|
White |
85.1% |
78.8% |
77.2% |
84.9% |
|
Ethnic minority |
14.9% |
21.2% |
22.8% |
15.1% |
Harris added: “We are passionate about continuing our journey, doing what’s right for our people and accelerating change. I’m pleased to see that our mean gender pay gap continues to move in the right direction, but we know that more work needs to be done to improve the representation of individuals from an ethnic background within our organisation.
“We have a breadth of measures in place to address the issues affecting all employees and create a workplace culture where all our people, in all the ways we are different, feel included.”
Actions taken by QBE include ensuring sourcing strategies maximise opportunities to attract diverse talent; deepening discussions to proactively identify pipeline talent; finalising ethnicity targets; launching flexible public holidays in the UK; and introducing a new incentive plan.
