Gender Pay 2019
Everything we do at Good Energy is underpinned by the values of fairness and inclusion. We believe that a diverse workforce leads to a better business – one that is more in touch with our customers and better placed to fight climate change. As part of this we focus on having a balance of men and women at all levels, paid fairly for their contribution.
Good Energy was born to challenge the status quo. The energy sector is highly male dominated and we’re proud to be different, particularly in our top team. Led by our Founder and CEO Juliet Davenport, we have equal numbers of women and men in our board and executive teams, and have a balanced workforce overall. Of the 275 people included in this report, 52% are women and 48% men. This didn’t happen by accident. We have taken concerted action to attract and develop senior female talent. We believe this gender balance at the top of the organisation helps us to build a more inclusive culture - attracting and developing a greater diversity of people.
Despite this, the gap between the average pay received by men and women in Good Energy was 27%, in April 2019. This is the point at which the regulation requires we report on pay and bonus data. We are not happy this gap exists. But we understand why and are focused on changing it through our long-term actions.
This report gives you more information on the pay and bonus gap, the actions we’re taking, and the progress we have made, to close the gap.
Why do we have a 27% mean and a 33% median pay gap?
Our data shows that we pay men and women equally. A man and a woman in similar size or scope of role, receives equal pay.
We don’t have enough women at our senior leader level. That’s the roles just under the executive team. In April 2019, at the time of this report, we only had 1 woman at this level – there were 12 men. This is reflected by the graphic showing only 28% of women in our highest pay quartile.
A number of our senior leadership roles require STEM (science, technology, engineering and maths) career experience. There are very few women at this level in the labour market, which makes it hard to recruit a diverse team.
Why do we have a 43% mean and 53% median bonus gap?
Everyone in Good Energy has the opportunity to earn an annual bonus. This is based on the performance of the company. More senior roles have higher bonus levels, as bonus is calculated as a percentage of base salary. This means the lack of women in senior leadership roles is the primary reason for the bonus gap.
10% of the gap is also because we have some sales roles in Good Energy, earning commission. These roles have more men than women in them.
When it comes to like for like roles, we pay equal bonus payments.
We are developing our female leaders of the future
While there’s much to do, we have made great progress developing our own female talent into middle management roles. 38% of the top 137 roles are held by women and 49% of women are in the 3rd pay quartile. We are confident we have a strong pipeline of female talent who will develop into senior leaders over the next 2-3 years. We can then extend the balanced gender split into our 4th pay quartile.
What are we doing to close the pay gap?
We already have equal numbers of men and women in our most senior board and executive team roles. We are working towards a balanced gender split in our middle management roles, and aim to have a senior leadership team that is at least 30% female by April 2022. And two years ago we made five commitments we believe will result in long term change. We are actively working on these.
Make every effort to have gender balanced shortlists for all externally recruited roles.
Maximise our attractiveness as an employer. Showcase diversity, including the women we already have in senior roles.
Actively promote our flexible working practices for both men and women. We recognise that in societies with higher female representation in the workplace, men play a more active role in caring duties.
Develop our people into middle and senior management roles. Provide focused development and career planning for women where they are under represented in the labour market. This includes finance, trading, technology, engineering and technical sales.
Highlight the importance of valuing diversity and creating an inclusive experience for both our customers and employees. We run diversity and inclusion training for all employees as part of our induction process.
Addressing the pay gap in the UK
Outside of Good Energy, we help tackle the lack of women in STEM careers, and women in senior level energy industry roles.
We partner with the STEMette’s charity foundation, working with local schools to encourage girls into STEM subjects and careers.
Our Founder and CEO, Juliet Davenport, herself a scientist, invests time in the POWERful Women network and the Energy Leaders’ Coalition. They both focus on increasing gender balance and broader diversity at work, at board and senior levels within the energy industry.
Good Energy Gender Report 2019.pdf pdf 418KB
Good Energy - Gender Pay Report 2018.pdf pdf 422KB