Legal & General publishes UK Gender Pay Gap Report for 2021

Legal & General has published its gender pay gap report for 2021, disclosing that its Group-wide median gender pay gap narrowed by 2.5% to 24.1%.

This movement was driven by a narrowing in all the Group’s reportable entities, including by 1.9 percentage points in the aggregated retail, retirement, capital and corporate businesses; by 2.3 points in the investment management business; and by 4.4 points in housebuilder CALA Homes.

Our pay gap report sets out the progress we have made this year and our plans for the future.

Learning from five years of gender pay gap disclosures, we have identified two long-term focus areas to support in narrowing the gender pay gap. These build on the processes we have in place to ensure fair and equitable reward:

• Building diversity through recruiting from a wider talent pool: Recruiting in a way that improves female representation, especially at senior levels of the organisation. As signatories of the Women in Finance Charter, we have committed publicly to improving representation.
  
  
• Retaining female talent and investing in employer brand: Demonstrating that ours is a company where people of all genders can build lasting careers; and creating the conditions to make this a reality. Continuing to invest in an inclusive employer brand.

We are committed to continuing to drive change, and our aspiration is to make ongoing, progressive improvement towards creating a more diverse workforce and a more inclusive culture.

We recognise the many barriers to progress, including the inherited pay gap from our industry and the wider labour market; unknown impacts of Covid-19 on attrition and retention; and the potential effects of the coming demographic transition in the housebuilding industry.

It is important that we take these into account and consider the full picture when making decisions and reviewing progress.