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 gender pay gap legislation introduced in 2017 and increased pay transparency that can result. intu first published its gender pay gap (‘GPG’) in February last year, based on amounts paid in April 2017, and is now making a second annual disclosure for 2018.

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.

intu also has two very different populations in our management services (‘MSL’) and retail services (‘RSL’) businesses and full details for each business are [in the statutory disclosures at the end of this update] [AR: on our group website].

As a group, our headline 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 4.7% 0.0%
Mean 9.7% 54.4%
Proportion of women receiving a bonus Proportion of men receiving a bonus
85.5% 83.0%

Our median pay and bonus gaps are significantly below the national average, although through the movement of staff in and out of the business has meant some of the gaps have, unfortunately, broadened a little, despite the opposite being true within both operating divisions. This is due to the statistical effect of the group having a much wider range of salaries than either MSL or RSL. When looking at the figures for intu RSL and intu MSL, we saw our gender pay figures broadly the same as last year, with the exception of a slight increase in median pay gap for RSL. However, there were slight improvements in favour of women in the mean and median pay and bonus gaps for MSL, and the mean pay and bonus gaps for RSL. Our 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.

Once again, we have looked at the gender pay gap for some key groups of employees within our shopping centres, as shown below. Here there have been a number of swings in favour of women, some markedly so and sometimes because of small shifts in the number of women and men in a particular group.

Addressing the gender pay gap

Addressing the gender pay gap involves resourcing and developing employees at all levels over an extended period of time. intu has had a stable senior management population for some time and is already close to the Hampton Alexander 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 has increased in the last year to 29.4%, which keeps 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 both improving our overall diversity and inclusion and 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:

  • Our apprentice scheme continues to pay dividends at the first point of entry, with 4 females currently going through the programme. At the opposite end of the spectrum another female member of our senior team has joined the Mentoring Foundation programme for senior women
  • 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.

  • Adopting more flexible and agile working practices and arrangements
  • Leadership development that provides strong opportunities for women
  • Our minimum rate of pay for all staff maintains a healthy differential above the National Living Wage and ensures men and women doing comparable jobs on the ‘front line’ receive equal pay rates at each location.
  • We conduct an annual remuneration review across all staff in the first quarter of each calendar year and as part of this look closely at each and every opportunity to reduce the gender pay gap throughout the company.

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 3.4% 0.0%
Mean 8.9% 8.1%
Proportion of women receiving a bonus Proportion of men receiving a bonus
84.7% 82.7%
First quartile Second quartile Third quartile Fourth quartile
Female Male Female Male Female Male Female Male
46.3% 53.7% 44.2% 55.8% 30.3% 69.7% 27.1% 72.9%

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 35.1% 38.6%
Mean 39.4% 78.1%
Proportion of women receiving a bonus Proportion of men receiving a bonus
88.2% 84.5%
First quartile Second quartile Third quartile Fourth quartile
Female Male Female Male Female Male Female Male
75.5% 24.5% 59.4% 40.6% 53.8% 46.2% 29.5% 70.5%

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 4.7% 0.0%
Mean 9.7% 54.4%
Proportion of women receiving a bonus Proportion of men receiving a bonus
85.5% 83.0%
First quartile Second quartile Third quartile Fourth quartile
Female Male Female Male Female Male Female Male
47.7% 52.2% 37.3% 62.7% 36.1% 63.9% 39.2% 60.8%

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