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Tenet among first advice firms to reveal gender pay gap data

Gender-Differences-Man-Woman-Inequality.jpgAdviser network Tenet has released its gender pay statistics as part of the Government’s push for better transparency.

According to information on the Government’s gender pay gap reporting website, for 2017 to 2018, female employees at Tenet were paid a mean hourly rate that was 28 per cent lower than males and a median hourly rate that was 32 per cent lower.

Pay quartile data are also reported that show the proportion of men and women in each band of an employer’s payroll.

At Tenet, 32 per cent of the top quartile are women and 49 per cent of the upper middle quartile are women. Two thirds of the lower middle quartile are female while 72 per cent of employees in the lower quartile are women.

Salary bands or jobs that would be included in each quartile are not reported.

The data also reports bonus pay and shows that women’s mean bonus pay at Tenet is 11 per cent lower than men and median bonus pay is 26 per cent lower.

The data show that 87 per cent of men at Tenet were paid bonuses in 2017/18 and 85 per cent of women were paid bonuses.

Tenet has also published the data on its website. It says has a policy of paying male and female employees equally for the same or equivalent work.

The note on the website says: “Tenet Group is therefore confident that its gender pay gap does not stem from paying men and women differently for the same or equivalent work. Rather its gender pay gap is the result of the roles in which men and women work within the company and the salaries that these roles attract.”

It adds: “Across the UK economy as a whole, men are more likely than women to be in senior roles, while women are more likely than men to be in front-line roles at the lower end of the organisation. In addition, men are more likely to be in technical and IT-related roles, which attract higher rates of pay than other roles at similar levels of seniority.”

It says: “Women are also more likely than men to have had breaks from work that have affected their career progression, for example to raise children. They are also more likely to work part time.”

Tenet says three of its four group board directors are women and that is committed to reducing the gender pay gap over time.

Charities and private companies with 250 employees or more must publish their gender pay gap statistics by 4 April, with many advice giants still to report.

The deadline is 30 March for public sector bodies.

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  1. This sort of pattern will be the norm. None of it is highly suspicious, and will almost all stem from differences in selected roles, working hours, and selected lifestyle requirements.

    Then, when one whole year’s numbers have come out and wasted the PR team’s time having to explain the rudiments of basic maths and are seen to be all a bit samey everyone will lose interest.

    We all knew this would be the case (point stats always are) and therefore entirely a waste of time. But, like every damn bit of regulation, it will have been implemented in the face of all common sense, rapidly proved to be pointless and, yet, for years to come the regulated company will have to keep incurring costs churning it out.

    Welcome to over-regulated and over-sensitive Britain.

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