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Future reduces gender pay gap

Future plc last week announced that it has closed its gender pay gap for the second year running.

Future reduces gender pay gap
Zillah Byng-Thorne: “We firmly believe that men and women should be paid equally for fulfilling equivalent roles.”

The organisation which boasts an equal split of male and female across its global workforce of 3000, reports a mean average gap of 3.85%, down from 8.05% in 2020 and significantly below the UK average of 15.4%.

However, reports Future, legacy obligations as part of recent acquisitions means that its mean bonus gap has risen to 46%, which does not reflect the position of the underlying business.

CEO Zillah Byng-Thorne said: “We firmly believe that men and women should be paid equally for fulfilling equivalent roles. We’re working hard to close the Gender Pay Gap and to once again be able to report that we are significantly below the UK average is fantastic.

“The statistics around our bonus gap belie the fact that our Profit Pool scheme is available to all colleagues and normally sees us at 0 or a negative percentage in this area depending on whether mean or median averages are used.

“We’re confident that our unique Value Creation Plan, which will deliver significant reward to all our colleagues if the business performs well, will positively impact this particular calculation in years to come.

“We hire for skills and passion and ability and I’m proud that is reflected in an equal gender split at every level across our business – including in my own executive team.”

Future recently set out its ambitions around equality and diversity as part of its Our Future, Our Responsibility strategy, and says it is making real headway in key areas around inclusion.

The ‘Future Gender Pay Report 2021’ can be read here.


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