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Tesco the first supermarket to reveal gender pay gap details
23 February 2018, 02:02 | Cedric Leonard
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The Government has ordered all organisations with 250 or more workers to report annually on their gender pay gap, and the remaining 8,000 are required to publish the first set of data by April. This represents the difference between the midpoints in the range of hourly pay for men and women.
Tesco has become the first major retailer to report a gender pay gap across its United Kingdom operations, with men earning on average 12 per cent more than their female counterparts.
Barclays said it was "confident that men and women at Barclays are paid equally for doing the same job".
Tesco UK chief executive Matt Davies said: "While we're pleased that our gender pay gap of 8.7 per cent is significantly below the UK median, we want to close the gap altogether".
Other local authorities with a gender pay gap favouring women include Pendle council (36.0%) and Fylde council (18.7%).
"This is predominantly due to the higher proportion of senior investment management and distribution positions occupied by men, something we are very much aware of and continue to address through recruitment and other initiatives across our business, some of which are mentioned in this report". The requirement was enshrined in the Equality Act of 2010, with the regulations coming into effect on April 5, 2017.
The Lloyd's report was published in line with these reporting requirements, relating to United Kingdom employees of Lloyd's as of April 5, 2017.
The government requires any company with more than 250 employees to publish its mean and median gender pay gaps, along with bonus information.
"Reporting on our gender pay gap is an important step forward in tackling this long-standing and systemic issue", Ms. Beale said.
This imbalance of seniority is reflected in Tesco pay quartiles.
Tesco said that its median gender pay gap is just 2.7%, if adjusted for these pay premiums.
Its mean gender pay gap, reflecting the difference between the average hourly pay of men and women, at Barclays International was higher, at 48 per cent.
Zurich U.K. General Services Ltd., a Fareham, England-based unit of Swiss insurer Zurich Financial Services Ltd., reported a mean hourly gender pay gap of 25.9% lower for women and a median gap of 26.3% lower; women's mean bonus pay is 45% lower and the median bonus pay is 27.6% lower; and 72% of Zurich's top quartile of employees based on pay are men.
Average hourly pay was almost two-fifths (38%) lower for women.
Bonus pay was around a tenth (11%) lower for women at Tenet, yet a similar number of women and men received bonuses - 85% and 87% respectively.
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