Cushman & Wakefield has reported a reduction in its mean gender pay gap, from 35.8% in 2018 to 31.1% last year.
The agent said it had managed to reduce the pay gap over the course of 2019 through a combination of initiatives that resulted in more women moving into senior roles in the business.
There was a 17% increase in women at partner and associate level, and a 40% increase at international partner level last year, C&W said.
George Roberts, head of UK & Ireland at C&W, said: “Reducing the overall gender pay gap will take time – and it may not always be a linear path – but we are proud of the steps we have taken to help address the imbalance in the proportions of women in the lowest pay quartile and the highest pay quartiles. This imbalance remains the primary cause of our gender pay gap, and we will continue striving to reduce it further.”
C&W has also, for the first time, published its mean ethnicity pay gap, which stands at 25.4%. The calculation is based on the 64% of UK colleagues that have voluntarily declared their ethnicity.
Karen Clements, chair of Inspire, C&W’s UK diversity and inclusion programme, added: “Ethnicity plays such an important role in diversity, and by announcing our ethnicity pay gap we hope to help ignite meaningful action to redress this imbalance in our industry, as well as setting a benchmark for improvement ourselves.”
See also: Gender pay gap: has progress been made?
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