Another UK gender pay gap report has been released – this time it’s Marsh’s turn.
The published report is a collective look at the gender pay gap at Marsh Services Ltd, Jelf Group, and Bluefin Insurance Group. Also included, under the umbrella of Marsh Services Ltd, are the UK businesses of Marsh and Guy Carpenter.
For 2017, the organisations posted a 42.5% mean gender pay gap, 41.1% median gender pay gap, 60.2% mean bonus pay gap, and 71.4% median bonus pay gap.
“Marsh & McLennan Companies welcomes people from all walks of life and is committed to accelerating the advancement of women,” read the report. “The more diverse the backgrounds and experiences of our colleagues, the more opportunity we have as a company.”
The overall gender pay gap was mainly attributed to the group’s workforce profile, which was characterised as having more male staff holding senior – thus, higher-paying – roles. In terms of pay quartiles, Marsh said female representation in its top two quartiles combined is 29%.
Meanwhile Marsh UK & Ireland chief executive Mark Weil cited the organisation’s resolve in creating what he described as a “truly inclusive” culture. “Over the last five years we have made significant steps to increase female representation at the most senior levels across the firm,” he said.
Those steps include striving to achieve a gender-balanced intake for its graduate development programme each year, as well as actively managing its talent review and succession planning processes to promote gender diversity across Marsh’s pipeline of future leaders.
“We recognise that as a business and as an industry we need to do more to enable women to further their careers, while creating diverse workforces which better reflect the client communities that we serve,” said Weil.
