Workforce diversity and gender pay gap data
Our mission is to build a diverse workforce and create an inclusive workplace at Legal & General. Being transparent about where we are and what we are focusing on is key to making progress.
Gender pay gap
In 2021 we again saw a continued, progressive narrowing of our median pay gap, from 26.6% to 24.1%, with positive movement in all of our reportable entities.
Gender pay gap data:
|
Gender pay gap |
2021 mean |
2021 median |
2020 mean |
2020 median |
|
Hourly pay |
26.3% |
24.1% |
30.8% |
26.6% |
|
Bonus |
53.1% |
42.1% |
48.0% |
40.6% |
Workforce data:
|
Legal & General’s workforce |
Female |
Male |
|
Board directors |
3 |
7 |
|
Executive committee |
3 |
9 |
|
Middle/senior management |
1,570 |
2,769 |
|
All employees |
4,779 |
5,964 |
As at December 2021
Source: Annual report, page 49
Our commitment to the Women in Finance Charter
At Legal & General, we are continuing to build a diverse workforce and an inclusive workplace, where every individual’s unique background is valued and everyone has the opportunity to contribute and succeed. We are working towards progressive improvements in representation across all protected characteristics and social mobility.
We are proud to be signatories of the Women in Finance Charter and are committed to increasing the representation of women in our most senior roles. As part of our commitment to the Charter, we have set ourselves the aspirational goal of 40% female representation at middle/senior management level by the end of 2025.
As at 31 December 2021, female representation across the Group stood at 45% and at 36% among middle/senior management.
Our Board is 33% female and the Executive Committee is now 25% female, with two of our five businesses led by a female CEO. In real terms we’ve got the highest number of women in senior roles that Legal & General has ever had.
We continue to close our gender pay gap. In 2021 we again saw a continued, progressive narrowing of our median pay gap, from 26.6% to 24.1%, with positive movement in all our reportable entities.
Our focus remains clear. We are working together to build a progressively more diverse workforce and a more inclusive workplace. Key interventions over the year ahead include: an expansion of our mentoring and talent sponsorship programmes; continued focus on hiring under-represented talent; and further investment in our people management and leadership capability across L&G.
We continue to benchmark our progress against diversity commitments and through a range of external measurements like Bloomberg GEI, Hampton Alexander, the Race at Work Charters Five Calls to Action, LGBT Great iiBT survey, Investing in Ethnicity Matrix, Social Mobility Employers Index and our continued commitment to the Women in Finance Charter.
Our ambition is to share more about the diversity of our workforce and we will do this in due course.
For now, we are focused on increasing the quantity of characteristic data we hold on our employees. As this is shared with us on a discretionary basis, we are running a communication and engagement programme, ‘Count Me In’, encouraging employees to share information about their background (ethnicity, sexual orientation, gender identity, socio-economic background and others).