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      Gender Pay Gap

      This year for the first time, all private and voluntary sector companies in the UK are required to publish a report on the Gender Pay Gap in their organisation. The Gender Pay Gap is the difference between the average pay for men and women in that organisation. All companies who employ more than 250 staff are required to report their Gender Pay Gap by 4 April 2018.

      The Gender Pay Gap should not be confused with Equal Pay which means women and men receiving the same pay for doing the same job. Gender pay reflects the type of jobs women and men carry out and highlights how well or otherwise women progress in an organisation.

      Acorn Insurance Limited Employees

      During the year in question Acorn Insurance had 325 employees, of these 168 (52%) were men and 157(48%) women.

      Our Gender Pay Gap

      Our Gender Pay Gap reported within this document is based on those employees who worked for the company as at 5 April 2017 and are based on earnings figures for the year to 5 April 2017.

      Regulations require that we report the mean and median hourly pay gap between men and women.

      Pay                                                                     Mean                                    Median

      Hourly                                                                    3.4%                                      -5.9%

      We are also required to report the mean and median bonus gender pay gap between men and women

      Pay                                                                     Mean                                    Median

      Bonus                                                                    19.1%                                    22.3%

      Together with the proportions of male and females employed who receive a bonus

      Pay                                                                     Male                                     Female

      Bonus                                                                    72.0%                                    57.3%

      We also are required to detail the proportion of male and female workers in each quartile based on there hourly rate.

                                                                                  Male                                     Female

      Upper Quartile                                                      50.0%                                    50.0%

      Upper Middle Quartile                                          46.9%                                    53.1%

      Lower Middle Quartile                                          51.9%                                    48.1%

      Lower Quartile                                                      58.0%                                    42.0%

      Summary

      The company is a proud equal opportunity employer, with an overall relatively equal split of male to female employees across all wage quartiles showing a very small proportion of women being employed in higher paid roles overall when compared with men.

      These figures have shown that overall bonuses are paid both more often to men than women and also at a higher overall level. This is mainly due to the number of men overall working in a commission based role when compared to women.

      Conclusion

      I confirm that the data and statements in this report are accurate an are presented in accordance with the regulations.

       

      Nicola Mclachlan, Director

      4 April 2018