Business

Zurich UK publishes 2020 ethnicity pay gap figures

Zurich UK has published its pay data for ethnic minority employees, which shows a 9.8% gap for mean average hourly pay for 2020.

The firm said while this has improved by 2 percentage points on 2019’s figure of 11.8%, its bonus pay gap of 24.5% has widened by 7.8 percentage points on last year’s figure of 16.7%.

This increase was driven by a small number of employee changes in senior roles and new appointments being made midyear, with bonus awards for new starters made on a pro-rata basis to date of hire.

With the Equality and Human Rights Commission calling for mandatory reporting on ethnic minority pay, recruitment, retention and promotion, Zurich said it committed to publishing its data which also shows 7% of its UK employees declare themselves as belonging to an ethnic minority.

However, it said the numbers in practice may be higher as just 86% of people self-declare their ethnicity.

Last year, Zurich took similar steps to tackle its gender pay gap, resulting in a move to advertise all new vacancies as being available on a part-time, job-share or flexwork basis (as well as full time) to attract more women into senior roles.

It also committed to diverse long and short lists when recruiting and reviewed the wording of all job adverts using specialist software to ensure that they appeal to a diverse range of candidates.

Steve Collinson, Zurich UK’s head of HR added: “We think it is critical that we build a truly diverse business that reflects our customers and communities and we are taking a structured approach by putting a concrete framework and action plan in place to move the dial.”

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