In 2019, even though it was not a legal requirement, we published details of our ethnicity pay gap – the difference in average hourly pay of black, Asian and minority ethnic (BAME) and white people across the organisation.
This year we’ve decided to include another protected characteristic, disability. Again, there’s no mandatory requirement to report these pay gap figures, but we believe transparency drives action. We hope it encourages discussion, highlights areas where we need to make improvements and helps us to address our challenges. To support this, we’ve also agreed to be more transparent by:
breaking our ethnicity pay gap down further into the UK census ethnicity categories
looking at our pay gaps by contractual grade
publishing our intersectional gender and ethnicity pay gap
Our ethnicity declaration rates are high, at 97%, so we have confidence in the accuracy of our data.
We’re committed to reducing our gender, ethnicity and disability pay gaps and will work more closely with everyone in the FCA to make sure that the actions we take will create lasting cultural change.
We hope to lead by example, with financial services firms encouraged to publish their ethnicity pay gaps and take action.
VERCIDA works with over one hundred clients who are committed to creating an inclusive work
environment. If you are an employer and interested in working with VERCIDA to promote your
diversity and inclusion initiatives and attract the best candidates, please email
[email protected] for more information.
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