Equality and diversity aren't just buzzwords at Capital on Tap - they're hugely important to who we are. We celebrate differences in race, gender, sexual orientation, religion, ethnicity, abilities, national origin - all the things that make each of us unique. Our goal is to create an inclusive environment where talented people from all walks of life can truly be themselves. A place where you're free to contribute your authentic perspectives and do amazing work, without having to hide any part of your identity.
What is the Gender Pay Gap (GPG)?
The gender pay gap (GPG) is the difference between the average (mean or median) earnings of men and women across a workforce. It’s expressed as a percentage of men’s earnings. As part of the GPG report, the bonus pay gap is also calculated - this is the difference between men’s and women’s bonuses over the year, expressed as a percentage of men’s bonuses. The data used to calculate each pay gap uses the 5th April snapshot date each year in line with the government’s reporting requirements.
In our report, gender definitions are based on current legal definitions and collection requirements. We recognise that not everyone’s gender identity fits within this binary, and not everyone is yet legally able to be defined as the gender that they are. In the future, we hope this report can become a more inclusive representation.
What is the difference between the GPG and equal pay?
Equal pay is something Capital on Tap monitors closely and all roles are paid equally. If a woman and man are in the same role their pay is comparable.
The GPG report is different to and not a measure of equal pay. Equal pay is a legal requirement to pay people performing an equal job at equal pay (Equality Act 2010). The GPG, whilst also about pay, highlights the types of roles men and women hold in an organisation. It’s used to analyse whether there is an imbalance of genders at senior level or in high-demand roles such as engineering.
2023 GPG Salary Data
This data only applies to Capital on Tap’s UK employees.
This report aims to provide a transparent overview of the current gender pay gap situation within the organisation and outline the measures being taken to address and reduce the gap.
This report, produced in 2024, uses a snapshot of data from April 2023 to calculate the gender pay gap (GPG). We present both the mean and median GPG calculations as a percentage of men's pay.
For a point of comparison, we've included the mean and median GPG data for both 2023 and 2022:
Whilst we acknowledge the persistent gender pay gap, we’re pleased to recognise the positive progress made in reducing it compared to the previous year. This reduction can be attributed to various initiatives that are actively being implemented to address the underlying factors contributing to the gap and promote gender equality within the organisation - initiatives we’ll discuss later in this publication.
The main driver of our gap continues to be a lower proportion of women in senior leadership roles and fewer women in higher-paying professions like engineering. This disparity is clear in our quartile data, which shows an improvement over last year. One successful approach has been taking positive action to diversify our talent pools, leading to an increase in female employees (3.1%) in our IT Department, where salaries tend to be higher.
To provide some context, our quartile data is calculated by sorting all employees from highest to lowest paid based on hourly rate, then dividing that list into four equal quarters. . The top 25% of earners represent the first quarter (Q1), and we analyse the percentage of men and women in each quartile.
By actively implementing initiatives to promote gender equality and diversify our talent pipelines, we’re making steady progress in addressing the underlying causes of the gender pay gap at Capital on Tap. While more work remains, we’re headed in the positive direction of cultivating a more equitable workplace.
2023 Bonus Pay Gap Data
This data only applies to Capital on Tap’s UK employees.
When it comes to bonuses, we look at two measures to understand the difference between what men and women received.
- Mean Bonus Gap: Men received bonuses 60% higher than women on average.
- Median Bonus Gap: The midpoint man received a bonus 29% higher than the midpoint woman.
In the 12 months prior to the calculation, 57% of men and 61% of women received a bonus.
When we calculate these gaps, we include things like referral bonuses (for employees bringing in new hires), sign-on bonuses (for new roles), and performance bonuses for specific teams dealing directly with customers. The 60% average gap is mainly driven by higher-value sign-on bonuses paid out for in-demand roles like engineering where we acknowledge a disproportionate representation of men compared to women—an area in which our organisation, along with many others, must actively strive for improvement.
Just three of our departments include incentives-based performance bonuses. While similar proportions of men and women received bonuses overall, the sales department, which has a higher proportion of men, offers a higher potential for bonuses.
What we’re doing to close the gender pay gap
Closing the gender pay gap is an ongoing priority for us. Here are some of the key initiatives we have in place to really move the needle:
- Focus on internal progression: We've created standardised career progression frameworks, available to every single employee. This gives clear development pathways to follow and transparent processes, ensuring equal opportunities. We’re also providing training for managers to better support their teams in having productive career development conversations.
- Promoting on performance: Our 2023 promotion data reflects our commitment to equity and making decisions based on results rather than gender. 43.84% of women and 43.37% of men in entry and mid-level roles were promoted last year. Equal opportunities being put into practice.
- Mentorship for growth: In 2023, we launched an internal mentoring program that pairs employees with senior leaders who can provide personalised guidance and support for advancing their careers. We're doubling down on this in 2024 as a way to empower more women to take on leadership positions.
- Diversity in hiring: Our talent acquisition strategy prioritises building diverse pipelines of candidates across all departments - that includes, but isn't limited to, achieving better gender balance. The impacts are already showing with stronger female representation on our Senior Leadership Team as of 2024, and we expect to see continued positive impacts on future gender pay gap numbers.
- Fair recruitment practices: All our hiring managers go through regular training on inclusive hiring practices and interview techniques. This ensures every candidate gets a fair, positive experience, plus we post job openings internally to provide broader progression opportunities.
Capital on Tap's ongoing commitment
At Capital on Tap, we are committed to promoting gender equality and inclusion. While we've made progress reducing our gender pay gap, more work remains. We will continue implementing initiatives to address the root causes, such as diversifying our talent pools, providing clear career pathways, and empowering women into leadership roles.
Our goal is an equitable workplace where everyone has equal opportunities to succeed, contribute their unique perspectives, and drive innovation. We are determined to bridge the gender pay gap and harness the power of diversity for long-term success.
