Gender pay gap

Our employees are critical to the success of our business.  In our centres, our employees are the face of intu and central to making both customers and retailers happy.   We aim to be an employer of choice and to treat our employees fairly and pay them appropriately for their work.  We welcome the new gender pay gap legislation and increased pay transparency that can result. 

The gender pay gap is different to equal pay:

  • Equal pay - Equal pay takes into account the nature of a role and its seniority. We regularly review the pay across the organisation with the aim of ensuring that the pay of men and women is the same for equivalent roles and seniority.
  • Gender pay - The gender pay gap compares a simple average of the pay of men and the pay of women within the organisation. If there are more men than women in senior positions, as is currently the case at intu, this results in the overall average of the pay of men being higher than the overall average of the pay of women.  

Our headline intu group gender pay gap figures are as follows:

Pay gap – difference between the average pay of men and women Bonus gap – difference between the average bonus paid to men and women
Median 2.6% 0.0%
Mean 7.8% 51.5%
Proportion of women receiving a bonus Proportion of men receiving a bonus
84.7% 84.5%

Our median pay and bonus gaps are significantly below the national average.  Across the organisation the proportion of men and women receiving bonuses is broadly the same.  Our higher mean bonus gap is largely driven by the current significantly higher proportion of men, rather than women, in our most senior positions.  This has a disproportionate impact on the average bonus when calculated on a mean basis. 

We have also considered the gender pay gap for different groups of employees within the organisation as shown below.  In a number of cases we have a negative gender pay gap, which means that the average pay of women is higher than the average pay of men. 

Addressing the gender pay gap

We have a number of initiatives in place to address the gender pay gap through a range of measures focussed on equalising opportunities for men and women as well as creating a culture of equality and inclusion.  During the year our initiatives included:

Promoting and recruiting women to more senior positions

  • As part of the Pathways to Property scheme we aim to source a more diverse range of future graduates.
  • Joining forces with our peers in the real estate sector to seek support from partners in the recruitment industry in creating and maintaining a more diverse and inclusive workforce.
  • Signing up to achieve the National Equality Standard, an on-going process to promote greater diversity and inclusion across the business.

 Adopting more flexible and agile working practices and arrangements

  • Of 38 women who have taken maternity leave in the past five years, over half have returned to flexible working arrangements.
  • Increasing our maternity pay provision above the statutory requirements.

 Leadership development that provides strong opportunities for women

  • Our first and most senior programme comprised of 45% women
  • Two of our most senior women have been sponsored to participate in the Mentoring Foundation programme for senior women
  • Establishing an enhanced minimum rate for all staff above the National Living Wage for men and women doing comparable jobs, ensuring equal pay rates at each location.

Our female board and executive representation

Addressing the number of women in senior executive positions is a central part of addressing the gender pay gap.   The 2017 Hampton Alexander review set a target of at least 33% women in board, executive and senior management positions by 2020.  Intu’s current female board representation is 33%, and at executive and senior management level it is 29.2%, which puts us in the top quartile of FTSE 250 companies.  We continue to seek to promote and recruit women to senior positions as part of our commitment to addressing the gender pay gap.

Statutory disclosures

The gender pay regulations require disclosures for all employing businesses with more than 250 employees.  Intu has two employing businesses:

  • intu Retail Services – employing all the front line staff at our centres (about 2000 employees).
  • intu Management Services – professional and support staff at head office, together with operational leadership roles at our shopping centres (about 450 employees).

We also provide our overall Group disclosures.

intu Retail Services

Pay gap – difference between the average pay of men and women Bonus gap – difference between the average bonus paid to men and women
Median 2.3% 0.0%
Mean 9.4% 32.7%
Proportion of women receiving a bonus Proportion of men receiving a bonus
84.4% 84.7%
First quartile Second quartile Third quartile Fourth quartile
Female Male Female Male Female Male Female Male
43.8% 56.2% 46.4% 53.6% 29.5% 70.5% 28.1% 71.9%

intu Management services

Pay gap – difference between the average pay of men and women Bonus gap – difference between the average bonus paid to men and women
Median 35.6% 45.7%
Mean 40.9% 79.4%
Proportion of women receiving a bonus Proportion of men receiving a bonus
88.9% 83.2%
First quartile Second quartile Third quartile Fourth quartile
Female Male Female Male Female Male Female Male
78.2% 21.8% 68.5% 31.5% 55.5% 44.5% 31.8% 68.2%

intu Group 

Pay gap – difference between the average pay of men and women Bonus gap – difference between the average bonus paid to men and women
Median 2.6% 0.0%
Mean 7.8% 51.5%
Proportion of women receiving a bonus Proportion of men receiving a bonus
84.7% 84.5%
First quartile Second quartile Third quartile Fourth quartile
Female Male Female Male Female Male Female Male
46.2% 53.8% 37.8% 62.2% 37.8% 62.2% 41.5% 58.5%

I can confirm the above disclosures are accurate and have been prepared in line with the mandatory UK reporting regulations.

David Fischel, intu chief executive