We have been pleased to note that over this review period our gender pay gap has remained significantly lower than the averages seen in our sector and across the UK last year. The median gender pay gap has decreased, which is positive and shows that the mean gender pay figure cannot be analysed in isolation.
The proportion of bonuses received has remained almost evenly split, with the mean and median bonus gap reducing considerably for this review period, which is also a positive change.
The quartiles show that we have more women in every quartile except for the upper quartile, and we appreciate that there is more work to do in this area. We remain committed to equalising the representation at each level and promoting from within where possible, and this is something which will be kept under constant review.
We are happy with the progress we are making to increase the gender diversity within the Company. We have continued to implement our hybrid working policies to aid flexibility to all staff. We are also involved with the WealthiHer network which is actively working to inform and inspire women to advance and transform their financial futures. Our continued hope is that our practices and policies will encourage people to reach their potential and strive for career progression to more senior levels.
The gender pay gap reporting process will help maintain our focus on the issues in hand.
HW Fisher LLP owns one legal entity with at least 250 employees, HW Fisher Service Limited.
Under the Gender Pay Regulations we are required to report our gender pay gap for this entity.
The figures shown in this report have been calculated using the standard methodologies used in the Regulations.
The information shows the statutory disclosure for HW Fisher Service Limited at 30 April 2023. It is based on the hourly rates of pay as of that date and bonuses paid in the year to 30 April 2023.
Our analysis of our gender pay gap shows that it arises not from paying men more than women, but rather from the gender balance within the Company i.e. fewer women hold senior positions within the Company than men.
In this review period the gender split of the Company has again swapped and there are now 49.47% men versus 50.53% women, which is still quite close to an even split. Although, in the same period we have seen the percentage of women in the most senior positions reduce, there are now more women than men in all the other three quartiles. We still feel this is indicative of the work that is being carried out to bring in more women and progress their careers within our industry. We fully appreciate there is more work to be done in this area and are fully committed to reducing this gap.
We are confident that our gender pay gap does not stem from paying men and women differently for the same or equivalent work but reflects the roles in which men and women work within the company and the salaries that these roles attract.
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