Savills UK Reports Reduction in Gender Pay Gap, Increase in Ethnic Diversity Across Pay Quartiles

Savills UK Reports Reduction in Gender Pay Gap, Increase in Ethnic Diversity Across Pay Quartiles

(IN BRIEF) Savills UK has released its 2023 gender and ethnicity pay gap report, showing a decrease in the mean gender hourly pay gap from 23.94% to 20.11% compared to the previous year. Additionally, there has been an increase in the proportion of women in the upper pay quartile and a rise in ethnic minority employees across all pay quartiles, attributed to various diversity initiatives. Despite a slight increase in the hourly pay gap for ethnic minorities, the mean ethnicity bonus gap decreased. Savills received recognition for its efforts, placing second in the RateMyPlacement rankings and winning awards for its diversity and inclusion programs. Company leaders emphasize their ongoing commitment to closing the pay gap and fostering an inclusive workplace.

(PRESS RELEASE) LONDON, 5-Apr-2024 — /EuropaWire/ — Savills UK has published its gender and ethnicity pay gap report for 2023, which looks at Savills UK business (Savills (UK) Ltd and Savills Management Resources Ltd) in April 2023.

Savills UK reports the mean gender hourly pay gap for its business has improved with the pay gap falling from 23.94% in 2022 to 20.11% in 2023. The median gender hourly pay gap has also reduced from 21.76% in 2022 to 17.59% in 2023.

The number of women in the upper pay quartile also increased to 29% in 2023, up from 27% in 2022. The mean gender bonus pay gap for the UK business reduced to 68.08% from 70.42% in 2022.

There has been an increase in ethnic minority employees across all four pay quartiles, particularly at junior levels, which has been driven by initiatives with schools, external partners and through the more ethnically diverse graduate and apprenticeship programme. This has resulted in a slight increase in our hourly pay gap year on year to 19.88% from 18.72% in 2022 and an increase in the median pay gap from 19.39% in 2022 to 22.07%. The mean ethnicity bonus gap decreased to 58.23% from 66.80% in 2022 as colleagues continue to be supported into senior roles through bespoke training and support measures.

Recognising the firm’s continuous development of employment programmes and support initiatives, Savills has recently placed second in the 2024-2025 RateMyPlacement rankings in the Best 100 Employers category for undergraduate work experience across the UK. Additionally, Savills won EDI Programme of the Year at Inspiring Women in Property Awards, was shortlisted for Outstanding Ethnicity Network of the Year at the British Diversity Awards and Savills Head of Diversity & Inclusion, Chanelle Gray, won Head of Diversity & Inclusion of the Year award at the British Diversity Awards.

Chanelle Gray, UK Head of Diversity & Inclusion at Savills, says: “Our commitment to closing the gender and ethnicity pay gap is steadfast, and the outcomes demonstrate that we are continuing to make progress. We are confident that our strategic initiatives led by our working groups and with the full commitment of leadership, and with engagement across the wider business, will continue to make a positive long-term impact at Savills and the wider property industry.”

James Sparrow, Chief Executive Officer, Savills UK & EMEA: “Our overarching D&I objective is to cultivate a workforce that mirrors the diverse society in which we live. The analysis carried out for the pay gap report helps us to understand how we are performing against our targets and where to focus going forward. Whilst we are proud with the progress made since we began reporting, we remain committed to continuing our journey to close the pay gap and provide an inclusive workplace that celebrates diversity.”

The 2023 pay gap report can be viewed here.

Media Contacts:

Chanelle Gray
Head of Diversity & Inclusion, Human Resources

Victoria Buchanan
Head of Group, UK and EMEA PR and Comms, Public Relations
+44 (0) 207 409 8940

SOURCE: Savills plc