Gender Equality Statistics
- 13% of women entrepreneurs scaled up their business to achieve £1-50 million turnover compared to 29% of men, However, if women chose to start and scale businesses at the same rate as men it could add around £250 billion of new value to the UK economy.
Source: Rose Review (2019)
- Bridging the UK gender gap in work has the potential to create an extra £150 billion on top of business-as-usual GDP forecasts in 2025, and could translate into 840,000 additional female employees.
- UK businesses suffer an estimated loss of £1.5bn per year due to STEM skill shortages. This impacts potential development of new technologies as well as the wider labour market. The skills shortage is exacerbated by the underrepresentation of women in the STEM workforce – they make up just 24% of all core-STEM workers in the UK.
- Reducing gender gaps in labour market participation, Science, Technology, Engineering and Maths (STEM) qualifications and wages could increase the size of the UK economy by around 2%, or £55 billion, by 2030.
Headline Gender Pay Gap Statistics
- Among full time employees the gender pay gap in April 2021 was 7.9%, continuing the downward trend; this was 7.0% in April 2020 and 9.0% in April 2019 and we recommend looking at the longer-term trend.
- There remains a large difference in gender pay gap between employees aged 40 years and over and those aged below 40 years.
- Compared with lower-paid employees, higher earners experience a much larger difference in hourly pay between the sexes.
- The managers, directors and senior officials occupation group has experienced the largest fall in gender pay gap since the pre-pandemic April 2019 figure, in particular for those aged 50 years and over; this group has previously been identified as having a notable impact on the pay gap.
- The gender pay gap is higher in every English region than in Wales, Scotland and Northern Ireland.
- Statistics in this bulletin relate to the pay period that includes 21 April 2021, at which time approximately 3.7 million employees were on furlough under the Coronavirus Job Retention Scheme (CJRS), this is fewer than during the period covered by last year's release when approximately 8.8 million employees were furloughed.
- The estimates in this bulletin include furloughed employees and are based on actual payments made to the employee from company payrolls and the hours on which this pay was calculated, which in the case of furloughed employees are their usual hours.
Source: Office for National Statistics
FTSE Women Leaders Review
- On 22 February, the first report for the third stage of the FTSE Women Leaders Review was published. It showed that significant progress has been made in 2021 despite the pandemic with:
- almost 40% of UK FTSE 100 board positions now being held by women, putting the UK second in international rankings for board representation when compared against 11 similar countries;
- the FTSE 100, 250 and 350 all improved the number of women in leadership roles in 2021;
- women chairs across the FTSE 350 rose to 48, up from 39 in 2020.
- The new review sets out bold recommendations for 2025, to build on this progress. These include:
- ambitions for neither gender to be under-represented (below 40%) on boards and in senior executive positions;
- FTSE 350 companies to have at least one woman in Chair, Senior Independent Director, CEO and Chief Financial Officer positions;
- the scope of the Review to be extended to the UK’s top 50 private companies;
- key stakeholders such as the Investment Association to push for best practice guidance and transparency.
Source: FTSE Women Leaders Review