With the 2023 round of pay gap reporting already underway, PricewaterhouseCoopers (PwC) has restated the importance of going beyond the statutory minimums.
From 2017, employers with more than 250 members of staff were required to report their gender pay gap figures, including mean and median figures for both pay and bonuses, the proportion of men and women at each level of the organisation, and the proportion of men and women who received bonuses in the year preceding.
Although not required by law, some employers have since taken it upon themselves to report on pay gaps relating to other protected characteristics, including disability, ethnicity and, in the case of a few, sexual orientation and socio-economic background.
2022 was PwC’s sixth year voluntarily publishing its ethnicity pay gap figures alongside gender, second reporting on socio-economic factors, and inaugural year of presenting data on the pay gaps facing people based on sexual orientation.
Ian Elliott, chief people officer at PwC UK, told Benefits Expert: “Diversity and inclusion is core to our business and purpose, so we felt it was only right that we expanded on the data we collect and publish. Data-driven insights allow us to be bold and intentional in taking action on the issues that matter most to our people, clients and the communities we work with.”
In 2022, 90% of PwC’s workforce shared information with the firm about their sexual orientation, but only 4% self-identified as LGBTQ among both partners and staff.
Elliott added: “Despite this low level of disclosure, we published our sexual orientation pay gap to provide a baseline against which we can measure and drive progress in the representation of lesbian, gay and bisexual people in our more senior grades.
“We understand that we ask our people to put their trust in us when they share their personal data, which is key to helping us enact change and create a more inclusive environment. Internal engagement to educate our people and help them feel comfortable with [the reasons] why sharing their data helps drive progress will continue to be a priority for us in the year ahead.”
PwC UK found that it had a 19.7% median and 12.3% mean pay gap in favour of heterosexual employees, and a 23% median and 17.8% mean bonus gap. The highest percentage of self-identified LGBTQ employees was found to be in the lowest quartile (5.7%), dropping to 3.2% in the upper middle and top quartiles.
Of course, with a small base of data from which to extrapolate, these figures were unlikely to be accurate. However, Elliott said that this was not a reason not to continue working towards a stronger reporting set, as well as inclusion and equality within the business.
He added: “We know that as long as there is under-representation of minority groups at senior levels, pay gaps will continue to exist, so improving representation at senior levels is key.
“We remain focused on our action plan so that we can attract, retain and progress all talent, and hope that the publication of our sexual orientation pay gap helps demonstrate our commitment and provides a baseline from which we can make meaningful progress.”
In order to boost inclusion, PwC’s five-point action plan includes leadership programmes, publicly disclosed targets, fair allocation of high profile work, investing in new recruitment tools, and creating progression coaches and career sponsorship opportunities.
