UK Gender Pay Gap Report ’20-’21
Overview of Findings
Gender Pay Gap (GPG) reflects the difference between hourly average male and female pay. Since first officially publishing our Gender Pay Gap in April 2018, we are happy to report improvement in our pay gap in terms of both salary and bonus pay. While this year brought us some mixed results with slight dips along the mean and median pay gaps, we believe that our culture of Trust and Empowerment along with our consistent focus on Inclusion and Belonging at Version 1 will let us overcome these.
The IT industry continues to have a disproportion of male to female employees. Whilst our gap mirrors this, primarily caused by fewer women in senior and highly paid technical roles, we have been observing positive progress in bridging the gap, including:
- 93% of our staff agree that people at Version 1 are treated fairly regardless of their gender, age, race or ethnic origin, sexual orientation or disability.
- 88% of Version 1 staff agree with the statement “I am treated as a full member here regardless of my position”.
- 67% of senior management promotions went to women over the last year.
- Over 35% of our internal rotations were female employees in the last 12 months, opening up new opportunities for women across the business.
- Our Shadow Board aimed to be a bridge to inclusivity with 46% of its members being female in 2020.
Working to Close the Gap
Last year saw the introduction of our Employee Experience (EX) Team and together with the Senior Leadership Team and our existing DIBs team, we continue to assess our employee lifecycle, ensuring a positive and inclusive approach throughout our employee journeys. This analysis has highlighted both successfully implemented initiatives as well as areas for improvement (see in Action Plan), which we continue to work on. Our existing initiatives are highlighted in the reports below.
While we are not where we want to be just yet, we believe with continued focus, effort and supported changes, the dial will continue to move towards a more inclusive workplace for all.
Diversity, Inclusion and Belonging
We believe that fostering a diverse and inclusive environment is central to achieving a workplace in which every employee feels that they belong. Read more about our DIB's initiatives here.Diversity, Inclusion & Belonging
Our Latest Diversity-Focused Publications:
Blog: June 28, 2021
As part of our 2021 Diversity in Business Strategy, Pride, throughout the month of June, was identified as a key Version 1 celebration. We have made strong progress in recent years in developing Version...
Blog: May 31, 2021
A business can appear mysterious to outsiders; what does an average day at the firm look like, and what do their people do each day? One of the most popular questions we hear from candidates applying to...