Company Overview: As part of our commitment to transparency and equality, we are publishing our gender pay gap data in compliance with UK regulations. This report outlines our gender pay gap for the year ending 5 April 2024 and provides a breakdown of the distribution of pay across different quartiles, bonuses, and the measures we are taking to address the gap.

1. Gender Pay Gap Using Hourly Pay:

• • Mean Gender Pay Gap: 16.7%
  • Median Gender Pay Gap: 13.8%

The mean gender pay gap is calculated by comparing the average hourly pay for male and female employees across the entire workforce. The median gender pay gap represents the difference in the hourly pay of the middle male and female employees when all employees are ranked from lowest to highest pay.

2. Gender Distribution in Pay Quartiles: We have divided our employees into four quartiles based on hourly pay. The distribution of men and women in each quartile is as follows:

This breakdown illustrates the percentage of men and women in each quartile and helps highlight where gender imbalances may exist.

3. Bonus Pay:

• • Percentage of Men Receiving Bonus Pay: 64.1%
  • Percentage of Women Receiving Bonus Pay: 50.4%

These figures show the proportion of men and women who have received bonus pay, which includes commission, in the reporting period 12 months to 5 April 2024.

4. Gender Pay Gap Using Bonus Pay:

• • Mean Bonus Pay Gap: -12.4% (In favour of women)
  • Median Bonus Pay Gap: -11.2% (In favour of women)

These figures represent the difference in the average and middle point of bonus payments between men and women. A negative gender pay gap indicates that women, on average, received higher bonuses than men.

This negative pay gap is primarily due to the structure of our bonus system, where the majority of bonuses are attributed to commission payments.

Commission-based bonuses are directly linked to individual sales and retention performance, and this structure is open to all eligible staff within the sales and retention teams, regardless of gender. Both male and female employees in these teams have equal opportunities to earn commission-based bonuses based on their individual contributions and results.

While women, on average, have outperformed their male counterparts in terms of earning commission-based bonuses, we recognise that the pay gap in bonus figures may still reflect broader factors, such as gender distribution within sales roles and the relative experience of individuals in these positions.

We are committed to maintaining transparency and fairness in our bonus structure and will continue to monitor our processes to ensure that everyone has an equal opportunity to benefit from commission-based rewards. The results demonstrate that our bonus scheme is inclusive and offers equal earning potential to all employees, irrespective of gender.

5. Employee Headcount: The data in this report is based on a headcount of 336 UK based employees as of the snapshot date.
6. Person Responsible for Gender Pay Gap Reporting: This report has been compiled by Rob Clarkson, Managing Director UK, who is responsible for ensuring that we meet our legal obligations and continue to work toward a fair and inclusive workplace.
7. Next Steps and Action Plan: We acknowledge the gender pay gap and are committed to taking appropriate steps to reduce it. The gap is influenced by a range of factors, including the distribution of men and women in different roles and seniority levels.

It is important to acknowledge that the composition of our leadership team plays a significant role in contributing to this pay gap. Currently, our leadership team is predominantly male, which has resulted in a higher proportion of men in higher-paying roles. This gender imbalance in leadership and senior positions directly impacts our mean hourly pay gap, as a larger representation of men in these higher salary brackets skews the average pay figures.

Our focus will be on ensuring equal access to career progression, including leadership roles for all employees, regardless of gender. We aim to reduce the gender pay gap and promote a more equitable pay structure across all levels of the organization.

We are taking the following steps to address the gap:

• Implementing strategies to promote gender equality in hiring and promotions.
• Providing training, coaching, mentoring and development opportunities to support women in progressing to senior roles.
• Reviewing our recruitment and promotion processes to ensure fairness and transparency.
• Introducing more flexible working options to support a diverse workforce.

Conclusion: We are committed to continuous improvement and will monitor our progress to ensure that our workplace remains fair, inclusive, and supportive for all employees, regardless of gender. We remain dedicated to taking meaningful action to close the gender pay gap and foster an inclusive environment where all employees can thrive, regardless of their gender.