Insurance business QBE European Operations has revealed a 54.9% mean ethnicity bonus gap in its first report of this kind.
The organisation's median bonus gap was 43.9%, with 75% of ethnic minority staff receiving a bonus compared to 91% of white employees, according to its UK ethnicity pay gap report 2020.
In terms of wages, QBE's mean pay gap was 7.9% and its median pay gap was -10.4%. A total of 83% of its UK workforce in 2020 was white, 12% were Asian, 4% were black and 1% were mixed race.
The business first detailed the difference in the average hourly rate of pay between its ethnic minority and white employees as of April 2020, with 80% of its workforce sharing details of their ethnicity.
According to QBE, it elected to publish the data as part of its commitment to addressing any imbalances within its business and intends to continue to publish its ethnicity pay gap report annually along with its gender pay gap to track progress made.
In order to address existing gaps, the organisation has committed to improving diversity data on UK employees, actively reviewing processes and practices across the employee life cycle to reduce opportunities for systemic bias. It will also review hiring policies and maximising opportunities to attract a diverse talent pool, and educate and raise awareness through its internal diversity network.
Jason Harris, CEO of QBE International, commented that he truly believes improving the ethnicity pay balance is important for staff and for the progression of the company.
“It is something that I personally am fully committed to and will make sure in the years ahead active measures are taken to improve this balance. This is our first year publishing our ethnicity pay gap data with the intention to be transparent with our colleagues, by listening to their experiences and finding ways to create more opportunities and continuing to forge an inclusive and diverse workplace,” he said.
