Allergy Therapeutics is a Global speciality pharmaceutical business and is a growing company with an ambitious R&D programme. This growth provides the opportunity for us to attract top talent to our Global operation.
We believe our people are our strongest asset and we aim to employ people of the highest calibre. We are totally committed to providing our employees with the opportunity to grow and develop and reach their full potential. Our business has an entrepreneurial approach with a people focused culture delivering flexible working solutions to all employees.
Gender pay and equal pay are two measures that are often confused. The gender pay gap is the difference in average pay between male and female employees within a company’s workforce. By contrast, equal pay compares the pay of men and women who perform equal or similar work and is unlawful.
Please see our calculations below, which are as at 5th April 2018:
|Employees who receive a bonus||80.4%||83.6%|
|Employees within Quartiles||Male||Female|
What is causing our gap?
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 quartile of employees. If we remove members of our executive team (six employees) from the calculations, our pay gap reduces significantly to a mean of 6.7%, which is favourable versus industry averages. As we have only 252 employees in scope, a very small number of senior employees on higher rates of pay can have a significant impact on our overall pay gap.
Our quoted mean and median bonus gaps 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 enhanced level of bonus amounts awarded to our executive team in this reporting year (of whom the majority were men), as a result of exceptionally 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 made two key appointments of women into senior roles and we continue to encourage women to apply for senior roles.
- Training and education has been provided to our management population to reduce any potential unconscious bias, particularly in relation to recruitment and talent management. This will continue as we roll out a new performance management approach and further training internally.
- We have fulfilled last year’s aim by making significant investment in our digital systems to enhance our tracking, measuring and monitoring capabilities. This not only relates to our new employees’ application pipeline but also performance and talent management. Digital data will enable us to proactively manage gender balance in recruitment and reward.
- 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 gender balance and our aim is to use our ongoing initiatives to continue to improve 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
Pavica Barr - Global Organisational Development and HR Director