Gender pay

At Good Energy, being inclusive is one of our values.

We believe having diversity in our workforce leads to a better business, one that is more in touch with our customers and more innovative.

Led by our Founder and CEO Juliet Davenport, we are proud to have an equal split of women and men at Board and Executive level, with the ratio of women to men across the Group being 52% women to 48% men.

Our mean gender pay gap is just under 8%. This is good compared to the national average of 13%* and great compared to the UK energy sector. We are committed to identifying and addressing the underlying reasons this gap exists and to close it in a sustainable way.

Good Energy's gender pay gap in numbers

Pay

We know that our gender pay gap is not a pay issue, but is primarily due to having fewer women than men in middle management roles, particularly Science, Technology, Engineering and Maths related roles. We have a long term strategy to attract and develop women into these roles, recognising there is a lack of female talent in STEM careers within the labour market.

 

Bonus

Our mean and median bonus gap figures have been affected by the timing of the reporting regulations, meaning our report is not fully reflective of our annual bonus awards.

The majority of our employees received their annual bonus in March 2016, just before the Gender Pay Gap reporting period began. Therefore, only bonus paid to middle managers and Executives (paid in April) is included in this set of figures. Had the reporting period covered all our employees, the bonus gap would have been 24% mean and 50% median.

Our mean bonus gap is primarily a result of more men than women in our middle management roles, including more men than women in roles with sales and commission based bonuses. All employees who are not on commission bonuses participate in an annual company bonus scheme. Looking at this company bonus scheme for 2016, the mean gap between men and women was just 4%.

An additional factor driving the larger median gap (the middle value) is our ‘Long Service Share Scheme’. This rewards our people for their commitment with shares, the value of which is relatively small.

More women than men received these awards in 2017 and these are captured under the reporting regulations as a form of bonus. So these small awards, made to more women than men, results in the midpoint of bonus payments for women being lower than the reality.

 

How will we address our pay gap?

Attract and develop women particularly into STEM careers

  • We currently ensure women are shortlisted for all externally recruited roles.

  • We are focussed on attracting and developing women into our middle management positions across all functions, particularly STEM roles, and have set an ambitious target of extending our 50/50 balance of women at Board and Executive level into middle management by 2020.

  • We partner with the STEMETTEs foundation, working with our local schools to encourage girls into STEM careers.

  • Our Founder and CEO, Juliet Davenport, herself a scientist, invests her time in actively promoting STEM careers.

 

Educate and enable our people to value diversity and live our values of Inclusive and Fair

  • We currently educate all our people as part of our development programme about diversity and inclusion. We have a fair and transparent system for measuring the size of roles and for measuring individual performance, to ensure people in roles of like size, complexity and value to Good Energy are fairly remunerated for their job and performance.

Make flexibility in working practices equally available for men and women

  • We will actively promote flexibility in working practices to both men and women, recognising that career progression for women is enabled by men having the opportunity to share caring responsibilities.

Ready to switch?