HSBC spots a the Biggest Gender Pay Gap for Its UK Operations, Fewer Women Assigned to Senior Roles

HSBC spots a the Biggest Gender Pay Gap for Its UK Operations, Fewer Women Assigned to Senior Roles

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HSBC has a median gap of 61% for bonus payments between both genders; male and female employees.

Apparently, the bank claimed it had appointed fewer women in senior management roles, while many top global roles were based in the UK, where its group head office is located.

Elaine Arden, team lead of the human resources department said, “If we identify any pay differences between men and women in similar roles, which cannot be explained by reasons such as performance/behavior rating or experience, we make appropriate adjustments.”

The 29% figure is more than double the 14.2% reported by Barclays for its UK banking operations for 2017, but relatively lower than Royal Bank of Scotland (36.5%) and Lloyds Banking Group (32.8%).

HSBC said its pay gap was largely prone to the fact that like its competitors’ trend, HSBC too has fewer women assigned to senior roles, with just 23% of higher positions held by women.

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Across the entire company, however, 54% of its workforce is dominated by females.

HSBC has a target to try to improve its gender balance and aims to have 30% of senior roles being led by women alone, near 2020s.

All firms with more than 250 staff must report their gender pay gap to the government by 4 April.

The median figure refers to the midpoint of all workers’ salaries from lowest to highest paid.

The mean describes the total wage bill divided by the number of employees, which means it can be skewed by a small number of very highly paid workers.

 

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