"Responsible business, responsible employer"
Being responsible impacts on everything we do at RICS.
We want RICS to be a place where everyone is welcome, supported and encouraged to grow, perform to their best and contribute to our continued success. That’s why equality, fairness and transparency are important to us.
Our 2019 report shows a huge improvement in our median gender pay gap measurement, which is the better representation of like-for-like pay, with our women’s hourly rate 19.7% lower than our men’s, a marked decrease from 30.0% the previous year. The mean pay gap measurement shows our women’s hourly rate as 25.1% lower than our men’s. Our women’s median bonus is 15.6% higher than men’s, and the mean is 1.4% higher.
Although this is an improvement on the 2018 data, particularly for bonuses where we have more women earning performance-based variable reward than in previous years, it still reflects the disproportionate representation of men and women in our most senior leadership positions. We have made a commitment to improve this by introducing a number of initiatives, and we have made some great senior leadership appointments. My Executive Team is 50% female.
Companies listed on the London Stock Exchange are required to report their ‘CEO Pay Ratio’ to the UK government. We are not included in this legislation but as an example of our commitment to transparency, my total pay is nine times that of our average employee’s pay (9:1). While it is not a direct comparator to our organisation, the average ratio of FTSE 250 companies is 33:1.
And in my role as a leader in the wider Built & Natural Environment, I have continued my personal pledge to challenge any requests for me to speak on all white male conference panels. I am pleased that this pledge, taken a few years ago, has helped shine the spotlight on more diverse industry talent. I know that these role models continue to inspire the next, more diverse generations into this profession and the industries it operates within.
Chief Executive Officer