In 2018 the UK government introduced a legal requirement for UK employers with over 250 employees to annually disclose their gender pay gap. This report sets out the gender pay gap data for the two DST employers that are in scope of the Regulations - DST Financial Services International Limited and DST Financial Services Europe Limited. DST published its first gender pay report in March 2018, in respect of 5th April 2017 data.
Understanding our Pay Gap
Gender pay analyses the difference in the average pay between men and women across an organisation, regardless of the jobs they do. It does not take into account differences in role performance, individual experience, full-time vs part-time salaries or other factors which may impact the way different employees are paid. A gender pay gap is therefore a result of many factors and a company can have a gender pay gap without breaching equal pay provisions. A gender pay gap is predominately the result of differences in seniority between male and female employees. At DST men hold two thirds of the company’s senior and highest paying roles while women tend to hold the more junior roles.
By understanding our gender pay gap, DST can identify what needs to be done to improve inclusivity across the whole company and make further strides to close differences that exist. Whilst there are not always quick fixes, DST will focus on making progress across our business.
2018 results – based on the snap shot date of 5th April 2018
What is our gender pay gap?
The mean and median pay differences between men and women are 22.2% and 13.2% respectively. We have seen a positive movement in reducing our mean pay difference; however the median gap has increased.
What is our bonus gap?
Our mean and median bonus gap differences are 38.0% and 25.3% respectively. We have also seen a positive movement in both the mean and median bonus pay gap figures, reducing the gap from 2017.
When considering our employees, out of the total male population 42.1% receive a bonus, whereas only 28.9% of women receive a bonus.
This bonus gap is in line with our quartile analysis, which demonstrates more men are in senior and higher paid roles. These are more likely to be bonus eligible and with a greater percentage bonus earning ability.
When considering our pay gap in comparison to both the industries in which we operate and the national published statistics, DST is better than average. This is a positive benchmark for DST but does not leave us without room for further improvement.
The below shows the gender balance at DST and the split of full-time v’s part-time roles at each level, our gender pay gap results will only significantly change as a result of changing the shape of our employee population, this takes time.
There are many reasons for the proportion of males and females at each level. DST operates within both the technological and financial administration sectors. Whilst there are more female staff than male currently employed at DST, traditionally more men are likely to enter the industries in which we operate. In addition, a large portion of the DST female population work in administrative or junior roles and opt for part time work over full time work.
How are we addressing the gender pay and bonus gaps?
DST are committed to taking a series of measures now and in the longer term to promote a diverse and inclusive workforce, last year we committed to the following, below is an update of our progress during 2018/19:
- Focus on more ways to raise awareness of unconscious bias impact and remove it from our processes
As well as existing training courses which contain references to unconscious bias, such as the DST Code of Conduct training and our Interview Skills training, in March we rolled out a new unconscious bias e-Learning training module. By increasing the impact of unconscious bias on our working life we can all work towards eliminating discriminatory behaviours and therefore make the company a more diverse, inclusive and productive place to work.
- Continue to ensure our recruitment and promotions processes have the best candidates from all backgrounds
The resourcing team continue to review job adverts to ensure they are as gender neutral as possible. Shortlisting of candidates focuses on selecting candidates who most closely match the requirements of the role, regardless of gender (or any other discriminatory criteria).
- Continue to ensure there is equal access for our leadership and development programmes
In 2018/2019 44% of participants on the high potential leadership programmes were female, which closely mirrors our gender balance at eligible grades (46.8% female to 53.2% male). All employees were encouraged to participate in a career conversation with their manager ensuring they had the opportunity to discuss their career aspirations and what development they need to achieve these. In general, all learning and development content is open to be accesses by all employees regardless of gender.
- Ensure our employees understand our work life balance policies and that they are applied consistently
In September 2018, we published a blog reminding all employees of the range of policies which are in place to support work life balance. At DST we recognise that everyone has different pulls in work and home during the stages of their life. These policies help us to support our employees’ wellbeing. In addition, one of the sub groups of the Be Inspired group are specifically focusing on raising awareness of implementing good flexible working policies and ensuring consistency.
As well as continuing to progress the above, the Be Inspired group are focusing on a number of initiatives to improve gender diversity and inclusion including providing additional tools and techniques to help individuals expand their development plans, mentoring circles and creating guides on how to help individuals to help themselves.
I confirm that DST’s gender pay gap calculations are accurate and meet the requirements of the Regulations.