Gender pay gap at Nationwide

We’re passionate about creating an inclusive working environment - one where everyone is valued, remunerated fairly and supported to reach their full potential. This is fundamental to our society’s culture.

What is the gender pay gap?

It’s the difference in average hourly pay received by men and women across all jobs within an organisation.

Gender pay gap reporting requirements were introduced in 2017 as part of the Government’s efforts to reduce the gender pay gap within a generation. Companies with more than 250 employees must publish their pay gap statistics before 5 April 2018. They must also report annually on these statistics, to highlight the progress made.

We welcome the Government’s new gender pay reporting regulations and support greater transparency in this area.

Is the gender pay gap different from equal pay?

Yes, there are important differences between the gender pay gap and equal pay.

The gender pay gap measures the difference in the average pay between men and women, so it’s affected by the type of jobs that men and women carry out.

Women represent nearly two thirds (63%) of our workforce. However, we have more women than men in our junior jobs and fewer women than men in our more senior jobs. This is essentially what creates our gender pay gap.

Equal pay is about the pay of men and women who are carrying out the same or equivalent jobs. We’re confident we don’t have issues with equal pay and continue to test this with regular equal pay audits.

Joe Garner, Chief Executive

“Nationwide was founded on the principle that people can achieve more together than they can alone. This applies to our own people as much as the members we serve. Gender pay gap reporting is an important measure in helping us towards this goal in the fairest possible way. We've been making good progress against the targets we've set ourselves on gender diversity, including at board level. We will continue to identify ways of making further progress in this area.

“Nationwide has taken a rigorous approach to preparing its gender pay reporting data in accordance with the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017. I confirm that the information provided below is accurate at the date of collation and hope the additional detail provided helps you understand the ways in which we work to promote gender diversity.”

Joe Garner, Chief Executive

Our gender pay gap

As of 5 April 2017, our mean average gender pay gap is 29 per cent

As of 5 April 2017, our mean average gender pay gap was 29%.

This is not a comparison of the pay received by men and women doing the same job.

This figure is affected by Nationwide’s workforce profile (namely the spread of men and women in different roles) as described in our infographic.

Our workforce - The spread of men and women in senior and junior roles

Our 2016-17 report in more detail

To see our gender pay gap reporting in full together with more information on how our workforce is made up, we’ve created a supporting infographic. The figures in this report are made up of:

  • Employees who hold a contract of employment
  • Temporary workers who are contracted to personally provide a service
  • Non-Executive Directors

Doing the right thing in the right way

Alison Robb

Alison Robb, Leader of People and Culture, Nationwide

“Having a more diverse workforce energises the business, positively influences decisions and ultimately benefits our members. While we have made good progress in the last few years in our diversity ambitions, we are committed to supporting women in the work place by creating both career opportunities and attracting the best talent to the organisation. Nationwide’s mean average gender pay gap is 29%. Our good progress to date needs to continue as we seek to further drive down this number. However, we fully recognise the sector falls behind others and that there is much more work to be done in order to create a truly diverse and inclusive workplace.”

Committed to driving wider change:

  • We have made a public commitment to HM Treasury’s ‘Women in Finance Charter’ with targets to increase the representation of women in leadership roles.
  • We are one of the eight founding members of the Equality and Human Rights’ Commission’s Working Forward – a campaign supporting pregnant women and new parents.
  • We are active members of the 30% club, and specifically their cross-organisational mentoring scheme. Our Chief Executive Joe Garner and Chairman David Roberts have pledged their commitment to this initiative.
  • We are passionate about helping to shape and steer businesses on the important issue of gender.

Actively promoting gender diversity:

  • Supporting maternity returners: 86% of our female employees who become mothers choose to return to their careers at Nationwide. Helping women prepare for their maternity leave and providing a smooth transition back to work is incredibly important to accelerate career momentum and we plan to put further focus on this.
  • Gender balanced shortlists: As part of our recruitment process, we always strive for gender balanced shortlists. This ensures we get the best person for the role as well as encouraging a better gender mix at all levels across the organisation.
  • On-the-job support and training: Nationwide has introduced targeted professional development and sponsorship to support women’s progression and 95% of our people managers have received training on unconscious bias. This is now a formal part of our hiring process too.
  • Diversity and Inclusion Week: We believe all our employees have a part to play in ensuring we create an inclusive and welcoming place to work. Our Diversity and Inclusion week enables our employees to engage in interactive equality, diversity and inclusion events and activities. It complements the extensive programme of education, awareness and involvement we offer.
  • Employee networks: Gender Equality Matters (GEM) is one of eight employee network groups at Nationwide. It provides a range of meetings and events that focus on helping colleagues build a strong network and develop the skills and confidence they need to support their careers.

Targets, transparency and governance

  • Along with our wider Equality, Diversity and Inclusion Strategy (2016-2020), we have also set targets for female representation at all senior management levels. We aim to reach these targets by 31 December 2020 and regularly monitor our performance against these targets.
  • We have committed to publish data online regularly, to demonstrate the progress we are continuing to make against our targets. We want to get this right and to do so need to be fully accountable.

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