Atom’s gender pay gap report

UK Companies with 250+ employees must produce a gender pay gap report

Organisations with over 250 employees must report their gender pay gap data. Data must be submitted before 4th April 2020 for the previous year.

The data below provides a snapshot of the organisation taken on 5th April 2019. This is the statutory date on which the data must be captured and the analysis carried out.

When it comes to gender equality and opportunity, Atom is committed to positive change in the finance sector. We were one of the first businesses to sign the Women in Finance Charter in 2016 and the Tech Talent Charter 2017.

As a relatively small business any changes within our organisation have the potential to have a large impact. We are aware that due to many variables our gender pay gap figure is likely to fluctuate until we can influence (along with other organisations) the pipeline of females and other under-represented groups studying STEM subjects and starting their careers in Finance and Technology.

Along with our gender pay gap data we’re sharing information on our activities across 2019.

UK pay gap: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/bulletins/genderpaygapintheuk/2019

Technology sector pay gap: https://www.cityam.com/digital-sector-salaries-outstrip-uk-average-but-gender-pay-gap-remains/

Finance sector pay gap: https://www.statista.com/statistics/824090/mean-gender-pay-gap-finance-and-insurance-uk/

In 2019 we...

Created a more diverse talent pipeline for roles which have been traditionally held by men by:

Hiring 66 ‘junior’ roles across our business with little or limited experience in order to grow our own talent. 32 of these hires were women ensuring that we’re helping shape and increase careers for women in STEM and shift the gender balance in our sectors.

Supporting 8 apprenticeships across our business, 4 of which were in Finance and Technology to develop and nurture the skills of the future for our business.

Created opportunities within our business in which women and men could apply and develop in a new field by:

Creating 49 secondment opportunities for junior team members in order to develop our people across a range of Technology and Finance skills in professions which have traditionally been dominated by men.

Supporting and developing 77 of our people into permanent role changes internally, of these 29 were women.

Rewarded our people fairly and equitably within their promotions and moves demonstrated by:

The average time for women to be promoted in the organisation was 826 days compared to 865 for males.

The average salary increase for women changing roles and/or being promoted was 8.98% compared to 8.03% for men. Average overall was 8.41%

Increased our capacity to reach further into the communities and target more diverse applications into our business by:

Increasing our recruitment team from 2 people to 3 to ensure our recruitment activities are focused on attracting and recruiting from a diverse pool of talent.

Attending 12 student recruitment events locally and regionally all of which were focused on the Finance and Technology sectors.

The Facts

Gender split

We have more males than females in senior roles as well as in our Technology and Finance functions which impacts the gender gap due to associated salaries.

Reward

All Atom roles and salaries are benchmarked to market rates, reviewed regularly and assessed for inflation related increases. We constantly assess our salaries and are confident that we have equal pay across our roles.

Eligibility

Everyone in Atom is eligible for a bonus which starts on their first day of employment. However, the bonus is paid out once a year and therefore whilst everyone is eligible it may be 12 months before a payment is made to starters.

Senior roles and those with niche skills

Most of our senior roles command higher salaries as well as roles within Technology which have niche skills and therefore are at a premium in the market.

Bonus

Our bonus structure is calculated as a % of salary, therefore the more senior the role, the higher the salary and bonus.

We continue to be signatories of the Women in Finance Charter and Tech Talent Charter as well as have memberships and affiliations with many more networks and groups that promote diversity and inclusion across our sectors.