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    Gender Pay Gap Report 2023 VF2

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    LIM QUAN GUAN Moe
    The document discusses McLaren's commitment to gender equality and their 2023 gender pay gap report. It provides details on McLaren's median gender pay gap of 4.10% which is lower than the UK's national average of 9.71%. It also reports their median bonus pay gap reduced to 23.35% in 2023. Data on the gender split across four equally sized pay quartiles is given, showing the majority of female employees sit in the lower to lower middle quartiles. Finally, the spotlight provides a quote from a female senior engineer discussing her career progression at McLaren over 5 years.

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    Gender Pay Gap Report 2023 VF2

    Uploaded by

    LIM QUAN GUAN Moe
    14 views7 pages
    The document discusses McLaren's commitment to gender equality and their 2023 gender pay gap report. It provides details on McLaren's median gender pay gap of 4.10% which is lower than the UK's national average of 9.71%. It also reports their median bonus pay gap reduced to 23.35% in 2023. Data on the gender split across four equally sized pay quartiles is given, showing the majority of female employees sit in the lower to lower middle quartiles. Finally, the spotlight provides a quote from a female senior engineer discussing her career progression at McLaren over 5 years.

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    The document discusses McLaren's commitment to gender equality and their 2023 gender pay gap report. It provides details on McLaren's median gender pay gap of 4.10% which is lower than the UK's national average of 9.71%. It also reports their median bonus pay gap reduced to 23.35% in 2023. Data on the gender split across four equally sized pay quartiles is given, showing the majority of female employees sit in the lower to lower middle quartiles. Finally, the spotlight provides a quote from a female senior engineer discussing her career progression at McLaren over 5 years.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    14 views7 pages

    Gender Pay Gap Report 2023 VF2

    Uploaded by

    LIM QUAN GUAN Moe
    The document discusses McLaren's commitment to gender equality and their 2023 gender pay gap report. It provides details on McLaren's median gender pay gap of 4.10% which is lower than the UK's national average of 9.71%. It also reports their median bonus pay gap reduced to 23.35% in 2023. Data on the gender split across four equally sized pay quartiles is given, showing the majority of female employees sit in the lower to lower middle quartiles. Finally, the spotlight provides a quote from a female senior engineer discussing her career progression at McLaren over 5 years.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 7

    DATA FROM APRIL 2021 – APRIL 2022

    GENDER PAY GAP 2023 2

    THE GENDER PAY GAP IS


    CALCULATED BY ADDING UP
    THE WAGES OF ALL MALE AND
    FEMALE EMPLOYEES ACROSS
    AN ORGANISATION, AND THEN
    DIVIDING THAT SUM BY THE
    NUMBER OF EMPLOYEES.
    THE GENDER PAY GAP IS THE
    PERCENTAGE DIFFERENCE
    BETWEEN THE MEAN FIGURES
    FOR MEN AND WOMEN.
    GENDER PAY GAP 2023 3

    OUR
    COMMITMENT
    At McLaren, we remain fully committed to gender Our approach has always been to create equality through
    equality. growing our talent pipeline, and although that has been
    harder during the pandemic, we were pleased to
    In the last year, where focus has been on transforming welcome direct entry graduates in 2022 and look to
    our business, we continue to work to build a fairer and rebuild many of our great talent programmes into our
    more diverse workplace across all areas of the business. roadmap for 2023 and beyond.

    Liese Thomas Jim Marsh


    Chief Financial Officer Chief People & Transformation Officer
    GENDER PAY GAP 2023 4

    OUR
    RESULTS
    Our figures show that the median pay for females is
    4.10% lower than male employees – this remains smaller
    than the national average of 9.71% and has consistently
    been smaller since we began reporting.

    National Average

    N.B. The gender pay gap shows the difference between median (mid-point) pay and bonus earnings of male
    and female employees, expressed as a percentage of male employees’ earnings.
    GENDER PAY GAP 2023 5

    Bonus
    Pay
    Our median bonus pay gap is 23.35%, meaning that the
    bonus paid to female employees was 23.35% lower than
    male employees. Recognising that last year was an
    anomalous year for our report in this category, our
    median bonus pay gap has significantly reduced.

    For our business, this data is always heavily influenced by the


    number of males with longer service in the business
    compared to our female population. Therefore, it is
    important we continue to view our candidate data to ensure
    we are building a more representative workplace for future
    reporting.

    N.B. The gender pay gap shows the difference between median (mid-point) pay and bonus earnings of male
    and female employees, expressed as a percentage of male employees’ earnings.
    GENDER PAY GAP 2023 6

    Pay
    78% 84%
    Quartiles
    This is where we split our workforce into four equally- LOWER LOWER MIDDLE
    sized parts based on people’s hourly pay. We’ve then
    397 Male 426 Male
    split each part by gender. 113 Female 84 Female

    This shows where the gender split is across these 4


    quartiles and where the majority of females sit across the
    organisation.

    84% 85%

    UPPER MIDDLE HIGHER


    426 Male 414 Male
    84 Female 72 Female
    GENDER PAY GAP 2023 7

    Colleague
    Spotlight
    McLaren, after 60 years, still holds this 'family feel' due to Ultimately this has been influential in my decision to stay
    the smaller business mentality. The advantage of this for and capitalise on my McLaren experience to progress into
    me personally, in 5 years, is that I have been exposed to the position I am in today, currently as a Senior Engineer
    multiple different areas of the business which would have and I hope to make my next career move here shortly.
    been more challenging in a larger business.
    I am proud to be part of the STEM ambassador
    I started my career at McLaren Automotive and as each community, which allows me to use my McLaren career
    year passes, I gain more experience and more respect for to inspire the next generation to consider careers in
    the brand that gave me my chance to start my career in Engineering and hopefully with us.
    engineering.
    Holly Yeomans
    Senior Project Engineer

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