Gender Pay Gap Report - July 2023 Update
This report sets out the gender pay gap statistics for Richer Sounds in relation to the reporting year of July 2023.
Introduction
Under the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017, Richer Sounds is legally required to publish, on an annual basis, specified information relating to their gender pay gap.
The following information has been calculated in accordance with the Regulations and is legally compliant.
Our report
It is crucial to our understanding of gender pay disparity to recognise that the gender pay gap is different to equal pay.
Equal pay is where there is a discriminatory pay difference between men and women who carry out the same job, jobs rated as equivalent or work of equal value.
We are confident that our gender pay gap is not because we pay men and women differently for the same or equivalent work. Instead, our gender pay gap is because men and women work in different roles and those roles have different salaries.
We are committed to equal opportunities and equal treatment for all employees, regardless of sex, race, religion or belief, age, marriage or civil partnership, pregnancy/maternity, sexual orientation, gender reassignment or disability. We have a clear policy of paying employees equally for the same or equivalent work.
The Gender Pay Gap
The gender pay gap is the difference between the average pay of men and women, expressed as a percentage. The gap is calculated across the entire workforce of an organisation.
The gender pay gap has many contributing factors which will differ from organisation to organisation, across sectors and across geographical locations.
Gender Pay Gap
Mean Gender Pay Gap
Based on the mean (average) hourly rate of pay for male and female employees in the relevant pay period, our mean gender pay gap is -11.5 % (rounded to one decimal place).
Median Gender Pay Gap
Based on the median (middle) hourly rate of pay for male and female employees in the relevant pay period, our median gender pay gap is -5 % (rounded to one decimal place)
Gender Bonus Gap
Mean Gender Bonus Gap
Based on the mean (average) bonus pay for male and female employees in the relevant pay period, our mean gender bonus gap is -25.9% (rounded to one decimal place).
Median gender bonus gap
Based on the median (middle) bonus pay for male and female employees in the relevant pay period, our median gender bonus gap is 84.9% (rounded to one decimal place)
Bonus Pay
The proportions of male and female employees who received bonus pay during the relevant pay period are as follows (percentages are rounded to one decimal place):
Male employees: 90.1 %
Female employees: 81.5 %
Salary Pay Quartiles
The following table separates our entire workforce into four equal quartiles based on the salaries that are paid to these employees. These quartiles are then further broken down into the number and proportion, expressed as a percentage, of male and female employees in each quartile.
| Band | Males | Females | Band Inclusions |
| A | 90.8% | 9.2% | All colleagues whose standard hourly rate is within the lower quartile |
| B | 89.1% | 10.9% | All colleagues whose standard hourly rate is more than the lower quartile but the same or less than the median |
| C | 91.6% | 8.4% | All colleagues whose standard hourly rate is more than the median but the same or less than the upper quartile |
| D | 83.9% | 16.1 | All colleagues whose standard hourly rate is within the upper quartile |
Confirmatory statement
I confirm that the information set out in this gender pay gap report is accurate and calculated in accordance with the Regulations.
Name: Julie Abraham
Job title: CEO
Date of statement: 17 July 2023