We have been pleased to note that over this review period our mean gender pay gap has reduced by approximately 29%. The median gender pay gap has also decreased significantly and has highlighted that, at the snap shot date, the highest median salary was paid to a woman. This is the first time that has been seen in our figures since reporting started in 2017. Our mean gender pay gap in 2017 was 19.6% and it is now 5.74% which really shows the strides that we have made in this area.
The proportion of bonuses received has remained almost evenly split, although the mean and median bonus gap have grown slightly.
It is when we review the quartiles that we see where our focus needs to be. Although the lower quartiles have a more even split, the disparity in the upper quartile is greater. However, we continue to remain committed to equalising the representation at each level, promoting internally wherever possible and this is something which will be kept under constant review.
We are happy with the progress we are making to increase the gender diversity within the Company.
Our gender pay statistics are lower than the industry and UK averages (reviewed against last year’s reported figures), which is a great achievement and something we will continue to build on.
We are continuing our hybrid working policies to aid flexibility to all staff. Our continued hope is that our practices and policies will encourage people to reach their potential and strive for career progression to more senior levels.
In addition, HW Fisher became part of the Sumer Group in October 2024. Sumer Group has created SumHer to accelerate action for gender equality. The SumHer working group is tasked with developing and implementing initiatives designed to elevate and empower women across the organisation and we hope these initiatives will aid our own ambitions in this area.
The gender pay gap reporting process will help maintain our focus on the issues in hand.
At the snapshot date HW Fisher LLP owned one legal entity with at least 250 employees, HW Fisher Service Limited. Under the Gender Pay Regulations we are required to report our gender pay gap for this entity.
The figures shown in this report have been calculated using the standard methodologies used in the Regulations.
The information shows the statutory disclosure for HW Fisher Service Limited at 30 April 2024. It is based on the hourly rates of pay as of that date and bonuses paid in the year to 30 April 2024.
Our analysis of our gender pay gap shows that it arises not from paying men more than women, but rather from the gender balance within the Company i.e. fewer women hold senior positions within the Company than men.
In this review period the gender split of the Company has stayed almost static and is very close to an even split.
Unfortunately, in the same period we have seen the percentage of women in the most senior positions reduce, and there are now more men in all the quartiles apart from the upper middle. We feel this change is indicative of the work that is being carried out to support more women to progress in their careers and demonstrates the promotion of women internally as they move up the gender pay quartiles. However, we fully appreciate there is more work to be done in this area and are fully committed to reducing this gap.
We are confident that our gender pay gap does not stem from paying men and women differently for the same or equivalent work but reflects the roles in which men and women work within the company and the salaries that these roles attract.
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