Savills reports reductions in gender pay and bonus gaps in 2018

The report, titled ‘Savills gender pay gap report 2018: Redressing the balance’,  shows a mean average hourly gender pay gap of 39%, an improvement from 45% in 2017; and a median average bonus gap of 78.5%, a reduction from 82% in 2017.  

Richard Rees, managing director of Savills UK, says: “Whilst we are pleased to report a reduced gender pay and bonus gap, it is clear that we still have work to do. The gap exists because a higher proportion of men occupy more senior positions than women - an imbalance caused by a legacy issue within our industry.

“Fully closing this gap is going to take time. But we are committed to achieving gender balance and have implemented a range of initiatives to help reduce the gap, working with colleagues from right across our business to ensure an open and transparent process.” 

Savills reports that 48% of its RICS qualified surveyors are women, compared to 14% across the RICS as a whole and outlines that it has been working hard to create a better balance in the managers of tomorrow, including increasing the number of women on the graduate scheme from 29% to 48%.

In 2018, Savills formed a gender group, made up of men and women representing all sectors of our business, in order to shape the firm’s diversity strategy to positively contribute to redressing the balance. As outlined in the firm’s latest gender pay gap report, the strategy is centred around improving HR policies, culture, training, flexible working and career progression opportunities.

The Savills gender group forms one of the firm’s six diversity and inclusion groups which also include: age; disability; ethnicity; LGBTQ and socio economic.

Richard adds: “Achieving gender balance is only one aspect of our commitment to diversity and inclusion because diversity in all aspects of our business will lead to a more dynamic team, better decisions and improved results for our employees and our clients.”

Download the full PDF report here.