The Gender Pay Gap (GPG) looks at the difference in the average pay of men and women in an organisation.
Because different jobs pay differently and the number of men and women performing these jobs varies, a gender pay gap is likely to exist in any organisation.
While the terms 'Gender Pay Gap' and 'Equal Pay' are both concerned with the difference in pay women receive in the workplace compared to men, there is a difference between the two figures.
Equal Pay deals with the pay difference between men and women who carry out the same jobs, similar jobs, or work of equal value. Karbon Homes pays all employees who are performing the same role equally, regardless of gender or any other protected characteristics, as set out in the Equality Act 2010. The Gender Pay Gap is a broader measure which is concerned with the differences in the average earnings of men and women, regardless of their role or seniority.
How is the gender pay gap calculated?
The six metrics that must be reported are:
Gender pay gap mean - This is the difference between the average hourly rate of pay of male employees and that of female employees
Gender pay gap median - The median gender pay gap is the difference between the middle values of the hourly rates of pay of male employees and that of female employees
Gender bonus gap mean - This is the difference between the average bonus paid to male employees and that paid to female employees
Gender bonus gap median - This is the difference between the middle value of bonus paid to male employees and that paid to female employees
Proportion of men and women receiving bonuses
Proportion of men and women in each quartile of the organisation's pay structure.
The figures are calculated using a specific reference date - this is called the snapshot date. The snapshot date is the 5th April each year, and the reference period for bonus payments is the year prior to the snapshot date.