Our commitment to inclusion
Right from the start, we wanted FreeAgent to be a place where everyone is able to be themselves and do their best work. Since then, we’ve built on our culture to create a place where people can own, enjoy and be proud of their work. We want people to feel nurtured, at ease, empowered and engaged. We value our diverse team and believe that the variety of our experiences and backgrounds only makes us stronger.
The gender pay gap
The gender pay gap is the difference between the average (mean or median) earnings of men and women across all roles in an organisation.
A gender pay gap does not necessarily mean a company is paying men and women unfairly or unequally. However, it does highlight where, on average, one gender is obtaining a higher rate of pay overall. This sometimes uncovers:
- an imbalance in the proportion of men and women in more senior positions (which typically offer higher pay)
- potential barriers to one gender accessing the kind of work that would result in additional payments or bonuses
On 4th April each year, all private UK employers with 250 employees or more are required to report and publish their gender pay gap information.
FreeAgent’s gender pay gap
2022 is the first year in which we've been required to report these figures. It’s been a useful exercise and has helped us to understand our own situation and bring into focus areas where we can take further action. To ensure that all employees were included in the data where possible, FreeAgent used legally recognised gender.
Based on a snapshot date of 5th April 2021, our gender pay gap figures are:
- Mean (average) gender pay gap: 25%
- Median gender pay gap: 26%
The table below shows the proportion of men and women in each pay quartile at FreeAgent. To calculate this, the average hourly pay for each employee is calculated and pulled into a list. We then sort this list in order from highest to lowest pay, split this into four groups, and then determine the proportion of men and women in each group.
|Quartile||% Men||% Women|
|Upper hourly pay quartile||81%||19%|
|Upper middle hourly pay quartile||76.6%||23.4%|
|Lower middle hourly pay quartile||54%||46%|
|Lower hourly pay quartile||39.1%||60.9%|
Along with the average and median gender pay gap, employers also have to publish bonus pay gap figures by analysing payments over a 12-month period to calculate the difference in payments that men and women receive in the form of bonuses. The UK government’s gender pay gap reporting guidance requires employers to include specific types of payments in the bonus pay calculations. For FreeAgent, these include payments such as commission and employee referral payments.
In the 12 months up to 5th April 2021, 19.4% of men and 15.7% of women at FreeAgent received bonus pay. Our bonus pay gap figures are:
- Mean (average) bonus pay gap: 40.9%
- Median bonus pay gap: 23.3%
Addressing our gender pay gap
At FreeAgent, we’re committed to paying people fairly and consistently, taking time to understand and document the detailed requirements of each role. This helps us to match our performance ratings to a specific salary on our salary bands, which means that if someone is doing the same role as someone else, and has the same performance, they will have the same salary.
However, our data shows that there is more work to be done at FreeAgent. Our current priorities to address our gender pay gap and bonus pay gap include:
Attracting diverse applicants
As is the case across the tech industry, many of our more technical roles have traditionally attracted a high proportion of male applicants. To help attract a broader range of candidates to FreeAgent, we partner with key organisations to promote STEM learning, engage with further education institutions and appeal to individuals from under-represented groups.
Ensuring our recruitment processes are fair and transparent
We’ll continue to remove barriers and tackle bias in our recruitment processes and advertising. We will also continue to anonymise our CVs and conduct group reviews at each stage of the selection process.
Ensuring our talent management processes are fair and transparent
We’ll take a closer look at how different groups fare through the lens of our promotion and reward processes. In addition, we’ll look at the representation of these groups within different departments, and at senior and management levels across FreeAgent. We aim to ensure that FreeAgent is a place where people from all backgrounds have the same opportunities to develop in their careers.
Flexible policies and work-life balance
FreeAgent has always been committed to providing flexible approaches to work in order to support employees’ work-life balance and to remove barriers to progression.
The Covid-19 pandemic brought about the need for an even greater degree of flexibility, particularly for our female employees, who outnumbered male colleagues as primary caregivers for children. During lockdown we implemented several new flexible working approaches, with the aim of reducing the negative impact of the pandemic on work-life balance for employees. Today, we continue to offer many of these additional flexible working options.
We’re excited to continue to test our assumptions, gather feedback and try new ideas to further develop our activities and improve our gender pay gap, both now and in the future.
FreeAgent’s Chief Executive Officer, Roan Lavery, has signed off FreeAgent’s gender pay gap reports and our Chief People Officer, Donald Lindsay, is managing our action plan to address the company’s gender pay gap issues.
FreeAgent’s Chief Executive Officer, Roan Lavery, confirms that the above information is accurate and meets the requirements of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.