Gender representation at WorldRemit

What is the gender pay gap?

The gender pay gap is distinct from equal pay. Equal pay has been a legal requirement since the Equal Pay Act was introduced in the UK in 1970.

The gender pay gap shows the difference between what men typically earn in an organisation compared to women. In the UK, employers with 250 or more employees must report on six different measures based on data on a date set out by the Government Equalities Office. These measures are:

Median gender pay gap
Mean gender pay gap
Median bonus gap
Mean bonus gap
Bonus Proportions
Proportion of male and female employees in each quartile pay band

Our gender pay gap report

What are we doing to close our gender pay gap?

We’re proud of the progress we’ve made in reducing our pay gap and creating a more equitable workplace for our colleagues. Despite this progress, we’re still committed to doing more.

The under-representation of women in senior technology positions is a common challenge throughout the fintech industry, but Zepz as a group, is committed to promoting and hiring more non-male talent into more senior positions.

Last year we committed to a number of activities to ensure that we keep closing the gap. These were based on three themes: attract, recruit and retain. This year, we’re continuing to build on those themes and plan to add further activities.

What we’re already doing

Our intention is to ensure that all processes and progression opportunities are fair and equitable for all. Since our last report we have:

Listened to our colleagues - Through Peakon, our regular employee engagement survey, and a series of curated listening spaces, we’ve been able to listen to our colleagues, achieving an aggregated participation rate in Peakon of 87%. Through this we’ve been able to take a targeted approach to Diversity & Inclusion - making sure we’re listening and acting on people, engagement and culture priorities.
Moved to a remote-first approach to work - In 2021, after consulting with our colleagues, we moved the majority of our colleagues (everyone in the UK) to a remote-first contract. This enables all of our colleagues to work more flexibly, especially those with caring responsibilities.
Refined our principles and formulae for compensation and reward - A consistent approach to our reward processes driven by formulas and principles, eliminates possibilities for unconscious bias.
Launched a career framework - We’ve created a refreshed set of functional rubrics which provide visibility of all the roles available within Zepz, and the core and technical skills to do each role at any given level. This will provide the foundations for career planning and promotions.
Empowered our Culture Community - Our culture champions (roughly 200 colleagues) continue to meet monthly to discuss topics that matter the most to our people. The community enables the opportunity to create a safe space to share thoughts and ideas transparently and enable change within the business.
Attracting more diverse talent - The Talent Acquisition team leverages various initiatives to source and attract more non-male talent.

We take equality seriously in WorldRemit; in addition to monitoring our Gender Pay Gap, we also conduct regular equal pay reviews across the globe, ensuring men and women performing equal work receive equal pay.

What’s on the horizon

We’re proud of the work we’ve done so far, but we’re biased to action. We’ll keep building on the activities above, but we’ll also be launching:

A new child bonding policy - One of our Zepz commitments is that ‘we are inclusive’ and we recognise that families come in all shapes and sizes. We’ve reviewed our policy to be more competitive in our talent space and supportive to expectant parents at such a special time.
Employee resource groups - We’ll recruit members with the purpose of creating safe spaces for connecting, networking and advocating for colleagues who share a common identity or interest. They can meet and support each other while we’re building our Zepz culture and sense of belonging.
Zepz-wide gender pay gap review - We know that this report is a very small snapshot of a very small population at Zepz, and we always strive to be better. By the end of H1 we will have completed our own global gender pay gap review which will enable us to create greater change.