Given that as industries, both marine insurance and shipping are traditionally male dominated, North P&I Club explains that gender pay gap is still obvious and provides tips on how could the industry “close” the gender pay gap in the future.
With shipping industries being traditionally male dominated and many of the high paid work positions occupied by males, gender pay gap shows the differences in the average pay between men and women, as the causes of which can vary enormously.
In last year’s Gender Pay Gap report, North Club highlighted that the gender pay gap reporting is a must for every organization in the United Kingdom.
Now, the Club reveals the following:
According to the report, gender pay gap reporting is a mandatory duty for organizations in the United Kingdom which have at least 250 UK employees.
The image above shows that the difference between earning for men and women is:
- Women’s median hourly pay is 44.7% lower than men’s
- Women’s mean hourly pay is 49.9% lower than men’s.
In addition, the difference between bonus payment for men and women is:
- Women’s median bonus pay is 48.9% lower than men’s
- Women’s mean bonus pay is 68.1% lower than men’s.
What can the UK do to “close” the gender pay gap?
- Continuing to monitor and improve both recruitment, pay, and bonus processes, ensuring equal opportunity throughout.
- Continuing to provide equal opportunities for career development and progression.
- Continuing to provide access to learning for all employees.
- Further enhancement of our flexible working policy.
- Providing leaders and managers with training including unconscious bias awareness during recruitment and selection to ensure that we are providing equal opportunity for all.
Concluding, learn more by clicking on the report herebelow