Estate agents Savills UK has reported a 20.11% mean gender hourly pay gap for 2023, down from 23.94% in 2022.
The organisation’s median gender hourly pay gap fell from 21.76% in 2022 to 17.59% in 2023, while the number of women in its upper pay quartile increased to 29%, up from 27% in 2022.
Its mean gender bonus pay gap for 2023 was 68.08% down from 70.42% in 2022, while its median gap was 31.58%, down slightly from 31.67%. A total of 82.62% of males and 79.02% of females received a bonus that year.
Savills UK has seen an increase in ethnic minority employees across all four of its pay quartiles, particularly at junior levels. This has resulted in a slight increase in its mean ethnicity hourly pay gap year on year to 19.88% in 2023 from 18.72% in 2022 and a median gap rise from 19.39% to 22.07% last year.
Its mean ethnicity bonus gap decreased to 58.23% from 66.80% in 2022, while its median gap remained unchanged at 50%. A total of 82.01% of white and 74.85% of ethnic minority employees received a bonus that year.
Chanelle Gray, UK head of diversity and inclusion (DI) at Savills, said: “Our commitment to closing the gender and ethnicity pay gap is steadfast, and the outcomes demonstrate that we are continuing to make progress. We are confident that our strategic initiatives led by our working groups and with the full commitment of leadership, and with engagement across the wider business, will continue to make a positive long-term impact at Savills and the wider property industry.”
James Sparrow, chief executive officer at Savills UK and EMEA, added: “Our overarching DI objective is to cultivate a workforce that mirrors the diverse society in which we live. While we are proud with the progress made since we began reporting, we remain committed to continuing our journey to close the pay gap and provide an inclusive workplace that celebrates diversity.”