Ovo Energy reports a mean gender pay gap of 20.1% for average hour pay as at April 2019
14 July 2020
The Gender Pay Gap reporting regulations requires any organisation with 250 or more employees to submit and publish the difference in mean and median hourly rates of pay for both male and female full-time employees, the gap in male and female’s mean and median bonus pay, the proportions of male and females who were awarded bonus pay and the proportions of male and female full-time employers in the lower, lower-middle and upper quartile pay.
Due to the Coronavirus pandemic, the regulations over reporting gender pay gap figures for the year 2019/20 were suspended to help ease the pressure of business during this trying time. Although the mandatory reporting deadlines were suspended, organisations could still voluntarily submit their figures and findings.
One of those organisations was Ovo Energy who ordinarily would have had to of reported their gender pay gap figures inline with the government’s reporting regulations due to currently having 2,000 employees.
Ovo Energy reported that their median gender pay gap was 9.6%, as at April 2019 and on average, women earn 90p compared to every £1 that their male equivalents earn.
Its median gender pay gap for bonuses paid out throughout the reporting period was 14.7%. When compared with their figures for 2018, this showed a decrease on the 19.7% gap. The mean gender pay gap for bonus payments was 28.6% and in 2018 was 26%.
Across the reporting period, 87.5% of female employees and 84.3% of male employees had received bonus payments.
At Ovo Energy, 26% of employees in the highest pay quartile are female, with 42% in the second quartile, 44% in the third quartile and 44% in the lowest pay quartile.
Adrian Letts, chief executive at Ovo Retail, said: “We’re aware of our gender pay gap and feel passionate about being an inclusive place to work. This year we celebrated International Women’s Day and hosted a panel session around the theme ‘Equality needs everyone’. This was streamed live across all offices, giving our team an important update on the powerful women pledge: our commitment to increasing women’s representation in leadership.
“Across Ovo Energy, our goal is to increase the number of women who work in technology. So far this year we’ve exceeded our target of 15%, with women being 21% of new hires, and the number of women in technology and leadership positions has also increased. We put this result down to the way we’ve checked for gender-biased language within our revamped recruitment process. While these changes may seem small, they’re helping us reach our 20% female tech talent goal by 2025, so they’re really important.”
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