Ryan FowlerSavills UK has announced improvements in its gender and ethnicity pay gaps for the year 2023, according to its latest report.
The mean gender hourly pay gap decreased to 20.11% from 23.94% in 2022, and the median gender hourly pay gap was reduced to 17.59% from 21.76%. The report also highlighted an increase in the percentage of women in the upper pay quartile to 29% from 27%.
Despite efforts, the ethnicity pay gap saw a slight increase, with the hourly pay gap widening to 19.88% from 18.72%, and the median pay gap increasing to 22.07% from 19.39%. However, the mean ethnicity bonus gap improved, dropping to 58.23% from 66.80%.
Chanelle Gray, UK Head of Diversity & Inclusion 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, Savills UK & EMEA, commented on the broader objectives: “Our overarching D&I objective is to cultivate a workforce that mirrors the diverse society in which we live. The analysis carried out for the pay gap report helps us to understand how we are performing against our targets and where to focus going forward. Whilst 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.”
