Verastar has seen a drop in its median gender pay gap result to 4.2% from last year’s figure of 7.2% and against a national average of 14.9% in its latest Gender Pay Gap Report.
Lee Hull, CEO at Verastar comments: “Continually striving for gender equality improvement over the past 12 months has paid off and I am delighted to report that our median gender pay result is now 4.2% vs the UK national average of 14.9%. This is a significant improvement against our result from the previous year when our pay gap was 7.2%. This result reflects our continued focus on recruiting and rewarding the best people irrespective of gender or any other personal characteristic.”
At this time, Verastar employed 610 colleagues nationwide to deliver services including telecoms, energy and water to over 160,000 small business customers.
Hull continues: “Our mean pay result has also improved significantly to 6%, this is an improvement of 46% on last year’s 11.1%. This demonstrates that all the changes we’ve been making to ensure our workplace is accessible, inclusive, and free from bias are helping to drive change in the right direction.”
In its fifth Gender Pay Report last year Verastar set out a number of commitments that were felt needed to improve the imbalance and these figures reported today demonstrate that they have had a positive effect.
Initiatives such as: job analysis for each role with associated salary ranges using an externally recognised benchmark tool; advertising salaries with roles; creation of a clear framework to guide reward decisions, governed by a Pay and Reward Committee and extending its hybrid working approach, to name but a few have been delivered during the past year.
Verastar is one of the few firms in the business services sector to have a split of 50/50 of both men and women in senior leadership positions compared to a 67/33 split across the rest of the UK.