How we're closing our gap

About our staff 

WorldRemit has a diverse global team with more than 40 nationalities based in over 20 countries.   From paying for education to covering healthcare costs, the money our customers send to their families back home makes a huge difference. We’re helping communities around the world share wealth across countries, borders and cultures. In the UK, in April 2018, we employed 319 people, of which 43% are female.  We continue to take various actions to close the gender pay gap in our organisation as well as to celebrate female successes amongst our employees and clients.

What is the gender pay gap?

Companies with over 250 staff in the UK are legally required to publish a snapshot of their gender pay gap on the 5th of April each year.

The gender pay gap is distinct from equal pay. Equal pay has been a legal requirement since the Equal Pay Act was introduced in the UK in 1970. The gender pay gap represents the difference between what men typically earn in an organisation compared to what women earn.

What are we doing to close our gender pay gap?

At WorldRemit, we pay women and men with the same performance and experience in equivalent roles equally. Despite our commitment to fair compensation, we do still have a gender pay gap due to the disproportionately high number of men in senior roles.  Another factor contributing to our gender pay gap is the high proportion of male staff in our Technology division, which represents 25% of the workforce in our UK headquarters.  

The underrepresentation of women in senior and technology positions is a common challenge throughout the fintech industry, but WorldRemit aims to improve women’s representation by attracting, recruiting and retaining talented women.  Here are some of our existing activities and plans:

Attract  12% of our Technology talent is female.  We’ll increase our outreach to engage with women in the technology community.  In addition, our HR team has committed to implement a graduate programme that will enable us to improve the gender balance across the company.

Recruit – Our job adverts and role profiles are gender neutral to encourage qualified applicants of both genders to apply to relevant roles.  Our Talent Acquisition team have committed to post our jobs in female oriented online job boards, and to aim to present 25% female candidates across all roles. 

Retain – We offer 6 months of fully paid maternity leave and we’re building a pipeline of female leaders to increase the number of women in senior roles.  We’re launching a women’s networking group to support our talented female employees as well as diversity and inclusion forums to get people talking, mentoring and sharing ideas to make WorldRemit an inclusive workplace for all staff.   

Our gender pay gap – some statistics

The table below shows the average hourly rates we paid our male and female employees and the percentage difference between the two, based on our UK employees’ pay on 5th April 2018.

 

Women

Men

Gap

Mean hourly rate

£22.22

£34.42

35.45%

Median hourly rate

£15.81

£29.08

45.64%

Mean bonus

£2,431.98

£5,490.69

55.71%

Median bonus

£1,031.25

£2,500.00

58.75%

Proportion paid bonus

72.26%

77.47%

5.21% 

 

Four pie charts showing the gender pay gap in WorldRemit through the lower, lower middle, upper middle and upper sections of the workforce.

 

 


April 2019