SKF (U.K.) Limited - Gender Pay Report 2017
SKF (U.K.) Limited recognises that the aim of pay gap reporting is to understand and overcome the barriers that may prevent all our employees from achieving their full potential. This statement has been published in accordance with the Gender Pay Gap reporting regulations which requires all UK employers with 250 or more employees to publish annual statutory calculations showing the pay gap between male and female employees.
The Gender Pay Gap is not the same as equal pay. Equal pay ensures that men and women receive the same pay for carrying out the same work, or equivalent work. The gender pay gap is a simple average figure for all UK based employees, irrespective of the roles that they carry out.
In line with the reporting regulations the data reflects payments made in April 2017. The figures include the hourly rate for each relevant employee as defined by the legislation. This includes base salary and other allowances.
Gender Pay Gap Results
Pay differences are expressed as the difference between the mean/median hourly rate for men and women as a percentage of the men’s rate. The female mean hourly rate is 8% lower than the males and female median rates are 6.3% lower than the males. In general, SKF (U.K.) Limited’s overall gender pay gap is largely due to a higher ratio of male to female employees - 83% of employees are male and 17% of employees are female.
Pay quartiles are calculated by splitting all employees in an organisation into four even groups according to their level of pay. Looking at the proportion of women in each quartile gives an indication of their representation at different levels of the organisation.
- Top quartile (highest paid) - 16.4%
- Upper middle quartile - 15%
- Lower middle quartile - 8.9%
- Lower quartile (lowest paid) - 28.6%
The percentage of employees receiving bonus payments are simply based on the number of male and female employees identified as receiving some kind of bonus payment at the point that the snapshot of information was taken (05.04.2017).
In respect of bonus payments, 66.7% of female employees received a bonus, whilst 64.3% of male employees received a bonus.