Allergy Therapeutics is a market leading, pioneering immunology business with specialist experience in the research and development of allergy treatments. We attract the very best people who want to be a part of a visionary business and have the opportunity to influence and transform immunology.
We believe our people are our strongest asset and we are totally committed to providing our employees with the opportunity to grow, develop, and reach their full potential. Our business has an entrepreneurial approach with a people focused culture delivering flexible working solutions for all employees.
Gender pay gap and equal pay are two terms that are often confused.
- Equal pay refers to the legal requirement that within an organisation, male and female staff members who are engaged in equal or similar work, or work of equal value, must receive equal pay and other workplace benefits.
- The gender pay gap is a broader measure of the difference in the average earnings of men and women - regardless of the nature of their work - across an organisation, a business sector, an industry or the economy as a whole. It is expressed as a percentage of men’s earnings.
Allergy takes all possible steps to ensure we are fully compliant with equal pay legislation, paying male and female staff members equal pay for work of equal value.
This paper focusses rather on our gender pay gap.
Please see our pay gap calculations below, which are as at 5th April 2019:
|Employees who receive a bonus||82.5%||82.1%|
|Employees within Quartiles||Male||Female|
What is causing our gap?
This year, our gap has reduced in 3 of the 4 measures: the gaps in mean pay, mean bonus, and median pay have all reduced compared to 2018.
Our analysis suggests that our pay gap continues to be primarily a result of the imbalance between numbers of women and men at different levels within the Company. We have a smaller proportion of women than men currently occupying senior leadership roles. In addition, we have significantly more women than men in less senior roles. As a result, our pay gap is driven almost exclusively by the gender imbalance in our upper and lower quartiles of employees.
If we remove members of our executive team (six employees, 4 male, 2 female) from the calculations, our pay gap reduces significantly to a mean of 16.8%, which is much more in line with the UK average of 17.3%. As we have only 267 employees in scope, a very small number of highly paid, senior employees can have a significant impact on our overall pay gap.
In this year, we have recruited a high proportion of females into some entry level roles. While this is positive in the long term in bringing female talent into the company, and the industry, in the short term this actually widens our pay gap, with 70% of those employees in the lower quartile now being female.
Our quoted mean and median bonus gaps also reflect the proportions detailed above. A further contributor to this is that, for those who work part time (the majority of whom are women), bonuses are pro-rated accordingly. However, the statutory calculations simply look at the overall bonus figures paid out, and so do not allow us to reflect the difference in working patterns and the effect of pro-rating in our bonus calculations. When the same calculations are run considering only full time employees, the gap narrows.
Our mean bonus gap can mostly be attributed to the level of bonus amounts awarded to our executive team in this reporting year (of whom the majority were men), as a result of strong financial performance by the wider group.
With regards to our senior leaders, we are continuing to work towards our previously stated aims of having:
- a 50:50 male / female composition of our Executive Team by 2023
- a 70:30 male / female composition of our Board of Directors by 2025
What are we doing to achieve our aims and reduce our gaps?
- Since our last report, we have recruited women into roles at all levels, and continue to encourage women to apply for senior roles.
- We have appointed our first female non-executive director to the Board.
- Exec member Bev Lees continues to work with our local girls’ school as Enterprise Adviser, encouraging consideration of STEM careers, and offering work experience opportunities.
- Training and education has been provided to our management population around objective setting and performance management, reducing the potential for biased decisions when assigning performance ratings, and better equipping our managers to have better quality development conversations with all employees.
- Our HR information system, launched in 2019, allows us to easily access salary and demographic information, and from July this year will also hold performance ratings, allowing us far better visibility and analysis of our workforce.
- We continue to proactively address the impact of the wider societal gender pay gap by ensuring salary decisions made at the recruitment stage are not based on an individual’s previous salary.
Allergy Therapeutics is committed to achieving gender balance and our aim is to use our ongoing initiatives to continue to improve on this. We are determined to be an inclusive and diverse company and we will nurture the attitudes and mind-sets required to achieve this.
We confirm that our data is accurate and has been calculated according to the requirements of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.
Manuel Llobet - Chief Executive Officer
Lindsay Taylor-King - Head of HR, UK and Global Functions
For further information please contact
Head of HR, UK and Global Functions