Whilst we recognise there is still work to do, Howard Kennedy is pleased to report a mean pay gap which is lower than both the national private sector average (Mean: 21.1%; Median 23.7%*) and the Legal sector average (Mean: 24.2%; Median 25.7%*).
At all quartiles, Howard Kennedy has a greater proportion of females than males, which shows that we are able to recruit and retain women at all levels of the business. When reviewing the pay gap by quartile, we find that the lower 3 quartiles have a slight negative pay gap. Our analysis suggests that a contributor to the pay gap is pay within the upper quartile. We have further identified that a small number of individual roles heavily skew the data.
We will strive to reduce the gender pay gap within the firm and we are putting measures in place to this end. This includes a commitment to ensuring that those undertaking similar roles receive fair and comparable pay regardless of gender.
The bonus gap is disappointing in comparison to the pay gap. Further work needs to be done, and we are reviewing the firm’s bonus policy to ensure a fair and transparent process of incentives for performance.
We are confident that the progress we are making, including our approach to agile working and retention of maternity returners, will see an improvement on our pay gap for 2017/2018.
*Source: 2017 Annual Survey of Hours & Earnings, ONS
*All data as at 5 April 2017