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McLarens (MYI Ltd) – UK Gender Pay Gap Report 2023
At McLarens, we embrace the value of a diverse workforce, and are committed to supporting our employees by offering a safe and professional environment, competitive compensation and benefits, work/life balance, personal development, and ethical management. We are pleased to publish the first gender pay gap report for MYI Ltd – comprising McLarens Global’s UK operations. The report has provided insights that are enabling us to strengthen our commitment to diversity, equity and inclusion, and build a culture that recognises everyone’s contribution to delivering for our employees, our clients and our communities.
We recognise that our efforts to create a more equitable and gender-balanced workforce is a work in progress and will take time. We are committed to reducing our gender pay gap, and working with our employees, partners and the wider sector to find the most effective ways to do so.
Emma Youatt
Emma Youatt, HR Director EMEA & Global Specialty Lines of Business
I confirm the data and narrative contained in this report is accurate
What is a gender pay gap?
The gender pay gap measures the difference between the average hourly earnings of men and women.
Since 2017, all public, private and voluntary sector organisations in the UK with over 250 employees have been required to publish a report analysing their gender pay gap. Employers are required to publish the average (mean and median) pay gap in the hourly rate of pay on a ‘snapshot date’, specified by the government. For McLarens, the snapshot date is 5 April.
Alongside this, employers must also publish data on the average (mean and median) pay gap and overall gender split in bonus payments, as well as the proportion of men and women in each pay quartile.
Full details of the regulations and guidance can be found on the Government’s website.
Equal Pay
The gender pay gap is not the same as equal pay, where employees undertaking the same work or work of equivalent or equal value are compensated the same, and does not take account of job role, seniority or qualifications. The gender pay gap is a measure of the difference in average earnings between men and women irrespective of their role or seniority. Our pay gap is not the result of equal pay issues.
At McLarens we compensate our people based on the role that they perform and are confident that we provide equal pay to men and women for work of the same value.
McLarens’ Gender Pay Gap 2023
Snapshot date: 5 April 2023
A total of 256 employees were included in the pay gap calculation. Of these, 56% were men and 44% were women.
Gender pay gap analysis
Our gender pay gap is driven by the fact that McLarens has a higher number of men in more senior or higher paid roles across the organisation, particularly as loss adjusters. This is reflected in the significantly higher proportions of men in the Upper Middle and Upper pay quartiles.
The predominance of men in loss adjuster roles is particularly represented in the bonus pay gap. Whilst a broadly equal proportion of male and female employees received bonuses, the remuneration structure for loss adjusters results in a significantly higher pay gap.
The pay gap, whilst consistent with others in our sector, is higher than we would like, and provides insight for us to take further action to reduce the disparities, in line with our values and commitments to our employees.
What are we doing to close the gap?
McLarens is committed to building an inclusive and diverse culture that supports individuals from all backgrounds and recognises the intersectionality of individuals. Under the leadership of our ESG and Diversity, Equity & Inclusion (DE&I) committees, and supported by our DE&I Champions we are working to build greater female representation across the industry and within senior and higher paid roles across our business.
McLarens Family of Companies Recruitment Charter
We have published a charter committing us to five key steps to ensure inclusive recruitment and a diverse workforce, underpinned by our commitment to equal pay for equal roles and flexible/hybrid working opportunities:
Career progression and promotion
In a traditionally male dominated industry, we are supporting more women into McLarens through recruitment and training routes, such as actively promoting women to trainee adjuster roles. Alongside this, we are exploring further career development programmes, with a plan to launch later in 2024.
We have made efforts to improve female representation at senior leadership levels, with female representation on the UK Senior Management Board increasing to 25% over the last 12 months, and 24% of the wider UK leadership group being women.
Internal culture
We are delivering a programme of initiatives designed to ensure that McLarens continues to nurture a diverse and inclusive culture. All employees have access to a flexible on-line learning platform that provides training and guidance on developing inclusive cultures.
To bring our culture to life, we have published a global DE&I Charter and work with our DE&I Committee and Champions, who have led have celebrations of International Women’s Day and shared guidance on a number of topics including miscarriage and baby loss, the menopause and women’s health. We will take learning from these resources and continue to review our policies to make them as inclusive as possible.
Our recent Employee Engagement Survey results show that our employees are aware of our diversity and inclusion policies with 96% of respondents answering favourably to the question I am aware of McLarens’ diversity and inclusion policies and 88% feel that McLarens has created an environment where people with diverse backgrounds can succeed. Our continued efforts to support work life balance was also recognised with 91% satisfaction on flexibility with work arrangements and ability to balance work and home life.
Future plans
Early careers
We are exploring opportunities with local colleges and other partners to support engagement with STEM (Science, Technology, Engineering and Maths) subjects, and demonstrate career opportunities in the loss adjusting sector.
Recruitment
We will continue to review and enhance our recruitment practices, including widening access to apprenticeships and graduate schemes, developing inclusive recruitment training for all hiring managers, and committing to gender-balanced interview panels as much as is practically possible.
Intersectionality
In recognition of the intersectional nature of some of the barriers facing female representation, we will review our systems and the data we collect, with a view to exploring other types of pay gap reporting.
By harnessing the benefits of our rich blend of talent and drawing from different backgrounds, experiences and perspectives, our business will continue to grow and prosper. Importantly, with a level playing field for all, each and every one of us will have the confidence and the opportunity to achieve our own personal goals, alongside delivering great outcomes for our clients and our communities.
