London-based real estate services business Savills UK has reported its mean gender pay gap for 2022, which shows a reduction of 8% compared with the year prior.
Savills’ mean gender pay gap reduced from 26.03% in 2021 to 23.94% in 2022, while its median gap reduced from 25.42% to 21.76% over the same period. Its highest pay quartile was found to be 27% female, up one percentage point compared with 2021.
The organisation’s mean gender bonus gap in the UK was similar, at 70.42% in 2022, compared with 69.96% in 2021.
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Savills UK also published its ethnicity pay gap figures. An increase in the proportion of employees from ethnic minority backgrounds led to the reduction of its mean hourly ethnicity pay gap from 24.17% in 2021 to 23% in 2022. Its median gap reduced from 20.74% to 19.39%.
The firm’s mean and median ethnicity bonus gap also reduced, from 70.91% to 66.80%, and 62.50% to 50.0%, respectively.
Siân Tunney, board director and co-chair of the gender diversity group at Savills UK, said: “We are encouraged by the numbers. We are constantly learning and are focussed on those initiatives which are making the greatest difference to our employees, providing coaching and support for women at all stages of their career.
“We work to provide tailored support for women, whether they are preparing for promotion, returning to work from maternity leave or dealing with the challenges of the menopause.”
Matt Salter, chair of the Savills Ethnicity Group, added: “It is incredibly important to continue to invest into the right programmes, the right training and the right partnerships to help us close the ethnicity pay gap. We must also continue to raise awareness of the various career opportunities within real estate to a wide-ranging audience in order to increase the diversity of both backgrounds and thought across the company.
“We have made some good progress and we remain dedicated to increasing ethnic diversity at all levels through a focused approach to help people advance their career journey at Savills and by also attracting outside talent.”
Chanelle Gray, UK head of diversity and inclusion at Savills, said: “We are really passionate about closing the gap and the results are showing we are moving in the right direction. Through a combination of strategic efforts from our leadership, our working groups, and the wider business, we are really starting to see the dial turn both within Savills and throughout the property industry. I’m really excited about what comes next.”