Gender Pay Gap Report 2023
We have produced our Gender Pay Gap Report to provide a high-level snapshot of pay within our business, demonstrating the differences in average pay between all male and female employees as of 5 April 2023.
Our mean pay gap is 10.2%, which has fallen by 3.1% since our 2022 report. The gap is largely due to a higher number of males in senior positions. However, we are delighted that our median pay gap has remained at 0%, far below the national average of 14.9%. We believe this to be a more representative measure of the pay gap at Ascona as it is not affected by outliers at the top or bottom of the pay range.
Our mean bonus pay gap is 1%, meaning that on average, for every £1 a man receives in bonus pay, a woman receives 99p. However, our median bonus rate is actually -0.1% which means women earn 0.1% more bonus pay than men.
Closing the gap
We intend to be fully transparent as to any issues causing the gap identified by our data. The main cause of our gender pay gap, as with many companies, is largely due to the lack of women at the most senior levels of our company.
Our methodology in relation to how we determine pay rates and bonuses at Ascona is completely objective and gender-neutral. Looking forward, we will continue to review our attraction and retention strategies across all areas of the business to ensure that we continually promote an inclusive and diverse workforce, allowing everyone at Ascona to build and sustain a successful career with us. There is always work to do and we are committed to making improvements.
I can confirm that this statement for the year ending 5 April 2023 is made pursuant to section 2 of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 and that the information contained therein is accurate and will be recalculated and published annually.
Shane Higgon
Group Finance Director
