In accordance with the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 (“the Regulations”), NFT’s gender pay gap calculations are as follows:
- The mean gender pay gap for NFT Distribution Operations Ltd is 11.74%;
- The median gender pay gap for NFT Distribution Operations Ltd is 20.39%;
- The mean gender bonus gap for NFT Distribution Operations Ltd is 26.73%;
- The median gender bonus gap for NFT Distribution Operations Ltd is 14.9%.
- The proportion of male employees in NFT Distribution Operations Ltd who received a bonus during the twelve months period preceding 5 April 2018 is 0.57% and the proportion of female employees who received a bonus during the same period is 0.29%.
Pay quartiles by gender
|1||89%||11%||Includes all employees whose standard hourly rate places them in the upper pay quartile|
|2||93%||7%||Includes all employees whose standard hourly rate places them in the upper middle pay quartile|
|3||83%||17%||Includes all employees whose standard hourly rate places them in the lower middle pay quartile|
|4||69%||31%||Includes all employees whose standard hourly rate places them in the lower pay quartile|
The figures set out above have been calculated using the standard methodologies used in the Regulations.
We are committed to the principle of equal opportunities and equal treatment for all employees, regardless of sex, race, religion or belief, age, marriage or civil partnership, pregnancy/maternity, sexual orientation, gender reassignment or disability.
We pay employees equally for the same or equivalent work, regardless of their sex (or any other characteristic set out above). Below is a summary of the actions we have already taken to actively promote greater equality and diversity within our workforce:
- We carry out pay audits at regular intervals;
- We have in place a Remuneration Committee to control, monitor and authorise changes to pay structures
- We ensure that members of staff involved in pay reviews are trained appropriately;
- We evaluate job roles and pay grades as necessary to ensure a fair structure.
We are confident that our gender pay gap does not stem from paying men and women differently for the same or equivalent work. Rather our gender pay gap is the result of the roles in which men and women work within the organisation and the salaries that these roles attract. We are also confident that we do not have any processes or practices which would see people being paid differently due to their gender.
Measuring the Gap
The gender pay gap is a measure that shows the difference in average earnings between women and men. The gender pay gap does not show differences in pay for comparable jobs.
Key Facts comparing April 2017 and April 2018
|April 2017||April 2018|
|17% of our NFT population is female||20% of our NFT population is female||↑ 3%|
|Mean hourly pay gap – 12.62%||Mean hourly pay gap 11.74%||↓ 0.88%|
|Median hourly pay gap 21.23%||Median hourly pay gap 20.39%||↓ 0.84%|
Mean Pay Gap - This is the difference in the average hourly earnings of men and women
Median Pay Gap - This is the difference between the middle point. The median pay gap is the difference between the hourly rate of men and women.
We have seen some movements in within our pay quartiles. These figures show the proportion of males and females in each quartile
Our plans to address our gender pay gap
What have we improved?
- Reduced the number of females within the lowest pay band by encouraging promotions and self development
- Coached managers in supporting flexible working for male and female colleagues
- Reviewed our job advertisements to ensure there is no gender bias
- Included flexible working opportunities in our job advertisements
- Introduced degree apprenticeship programmes as part of our NFT Futures Programme
- Introduced an internal mentoring programme
- Upgrading the HR system to provide more efficient and readily available employee data
What do we plan to do over the coming months?
- Increase the number of employees enrolling on the Futures Development programmes across all levels of the business for male and female employees
- Continue to review and improve our recruitment practices with particular focus on attracting more females to our industry
- Introduce diversity and inclusion training for managers
- Encourage females to attend more networking events within the industry
- Introduce unconscious bias awareness training across the management population
I, Mark Davis, General Counsel, confirm that the information in this statement is accurate.
4th April 2019