|
|

Oak Furnitureland Group Limited

Gender Pay Gap Reporting April 2021

Introduction

As a business we have been through a transformational recent period which has included the introduction of a new purpose, underpinned by a clear set of values. Our people are the centre of our business, and we are committed to ensuring that all employees have equal opportunities to develop and progress. As we move forward in a post Covid-19 world we are focused on developing more flexible policies to further support our teams.

We pay the same salary to large bands of our employees, ensuring pay transparency and promoting equality. We are confident that men and women receive equal pay for performing equivalent jobs.

Proportion of Male and Female Employees

As Oak Furnitureland Group Limited was incorporated in June 2020, we are reporting our Gender Pay Gap figures for the first time. Our data is based on 646 relevant employees at 5th April 2021 across retail, supply chain and Head Office teams. We have a 23% to 77% mix of female to male employees. The higher volume of male employees is driven by our supply chain locations which have traditionally attracted a higher male bias in their workforce.

The proportion of male and female employees in each quartile is shown in the table below:

Quartile Male % Female %
Top quartile 65% 35%
Upper middle quartile 78% 22%
Lower middle quartile 79% 21%
Lower quartile 86% 14%

Gender Pay Gap

Our hourly pay for female employees was 23% higher than for male employees, on a mean average basis. On a median basis it was 17% higher. This is because we have a higher proportion of female employees employed in senior roles. However due to the impact of Covid19 across our business, the majority of our retail employees were furloughed and are excluded from this Gender Pay Gap data, which will have distorted the information.

Bonus Reporting

This data is based on 1128 employees across retail, supply chain and Head Office teams. 52% of female employees were awarded a bonus; 55% of male employees were awarded a bonus. Bonus pay for female employees was 4.3% lower when measured as a mean average, and 9.6% lower when measured as a median average. The majority of employees who received a bonus work in our retail sector, where the bonus is made up of performance-based commissions. Retail colleagues accounted for around half of Oak Furnitureland Group employees, and bonuses paid to both genders were consistent.

Next Steps

At Oak Furnitureland Group, we are committed to ensuring all our employees are rewarded fairly and consistently, with equal development and training opportunities.

The business recognises diversity is achieved through its talent acquisition strategy. We have implemented various initiatives including more flexible shift patterns and hybrid working, which promotes a better work life balance and gender equality.

I declare that the data presented in this report is accurate and in line with mandatory requirements.

Alex Fisher
Chief Executive Officer

Notes:

Gender Pay Gap Explained

All UK businesses of more than 250 employees must publicly report on their gender pay gap (GPG), which is the measure of the difference between the average earnings of men and women across an organisation, regardless of their roles or the nature of their work. This is not the same as equal pay, which is the legal obligation on employers to pay men and women equally for work of equal value.

The GPG is calculated using ‘mean’ and ‘median’ averages.

Mean averages: The sum of the hourly rate of all female employees divided by the total number of female employees. The same calculation is performed for male employees and the gap is expressed as a percentage.

Median average: The midpoint of hourly earnings when all values are listed numerically as a percentage.

The GPG also reports on mean and median bonus gaps, number of male and female employees who receive bonuses, and the proportion of men and women in each quartile of the organisation’s pay structure.