An introduction from our Chief People Officer

“Equity, diversity and inclusion has always been at our core, ensuring we value the difference in our colleagues and reflect the customers and communities we serve. The launch of our People Promise in 2021 supported our focus on gender representation – something which our industry has traditionally struggled with.

“In the last few years we’ve made significant progress in this space and as such, women now make up 38% of our workforce and in FY23, women accounted for 54% of all colleagues promoted and 63% of senior leadership appointments.

“I’m also pleased to report our mean average pay gap has dropped significantly and is now almost half of what it was in 2021. There has also been a reduction in our median pay gap by 2.4% from 2022.

“We know there’s still more to do to close the gap completely and we are committed to creating a workplace which we can be proud of. Over the next 12 months we will continue to invest in our colleagues, make improvements to the way we work and drive forward our ED&I agenda to support our progress.”

The shape of our workforce

What is Gender Pay Gap reporting?

Gender pay gap reporting requires legal entities with more than 250 colleagues to report and publish their pay gap between males and females.

Zenith Group has a number of employing legal entities. Of these, for the gender pay reporting period 2023, two have more than 250 employees – Zenith Vehicle Contracts Limited and CVFS, so are legally reportable.

In the interests of clarity and transparency, we have provided a voluntary aggregated figure which covers the whole of the Zenith Group. We believe this is consistent with the spirit of the Gender Pay Gap reporting legislation whilst still complying with our reporting obligations and, looking at the data in this way supports our aim to reduce the pay gap across all areas of our Group.

The focus of this report is on Zenith Group, however figures for the individual reportable entities can be found in the appendices.

Zenith’s 2023 Gender Pay Gap

(Zenith Group combined)
Since 2022, our mean average pay gap has reduced by 4%; and now sits at almost half of what it was in 2021.

Mean and median pay gaps

Zenith’s 2023 Gender Bonus Gap

(Zenith Group combined) We have seen a reduction in both the mean and median bonus gaps, and although they still appear to favour males more than females, it is important to consider that the calculation of any gender bonus difference is based on the actual bonus received, regardless of hours worked. The bonus figures do not just take into account the annual bonus scheme in place, any other types of bonus payments made to colleagues are also factored in.

Percentage of colleagues receiving a bonus

Mean and median bonus gaps

Closing the gap

To support improvements in our gender pay and bonus differences, we have introduced a number of initiatives over the past year to help build a more diverse and inclusive workplace for everyone, at each stage in their career.

I can confirm that the information in this report is accurate and meets the requirements of Regulations 2017 (Gender Pay Gap information) of the Equality Act 2010.

Stuart Price
CPO
Zenith