Deloitte has reported a mean pay gap of 18.2%, following new regulations that require companies with over 250 employees to publish information about their gender pay and bonus gaps.
Deloitte follows suit from PwC, who recently reported a 13.7% mean gender pay gap.
Alongside the mean pay gap, Deloitte also revealed its mean bonus gap to be 50.9%. The firm attributed these statistics to the fact that a lower proportion of women hold senior roles, which it indicated it intends to rectify.
Emma Codd, managing partner for talent at Deloitte UK, explained: “As with many organisations, Deloitte’s gender pay and bonus gaps arise because of the disproportionate number of men in senior positions. As of 1 June, 19% of our partners were women. This is our most senior – and therefore highest-paid – grade. 29% of our directors – our second most senior grade – are female.”
Deloitte added that by removing this ‘structural issue’, the mean pay gap reduces to 2.5%.
Past research by Deloitte claimed the gender pay gap will persist until 2069 if immediate action isn’t taken.
The firm described a range of initiatives being taken to combat the pay gap, including reviewing its recruitment processes and introducing a programme designed to develop and retain high potential female managers.
Deloitte has also implemented programmes to encourage women back into work – particularly: “an industry-first Return to Work programme (open to all but with the aim of helping senior women return to work after a career break of two years or more) and a Working Parents Transitions Programme (designed to ensure a smooth transition to and from parental and adoption leave).”
The report also noted the importance of creating an inclusive culture in the workplace. Codd said this was “critical to our success in truly addressing gender equality”.
Anne Milton MP, minister of state for apprenticeships and skills and minister for women, praised Deloitte for its actions to advocate for women in the workplace. She added: “We have more women in work than ever before and the gender pay gap is at a record low, but there is more to do. Closing the gender pay gap isn’t just the right thing to do, it also makes good business sense, so that employers can take action to make sure every employee reaches their full potential.”
The Big 4 firm has recently shown its commitment to gender balance in the workplace, and earlier this month appointed Nicola Roberts as head of private client services and announced the appointment of 57 new partners, 23% of whom are women.