Gender Pay Gap

Gramercy Park Studios Worldwide: Gender Pay Gap Report 2023

Introduction

At Gramercy Park Studios we strive to create a working environment where everyone is treated equally regardless of gender, ethnicity, age, religion, sexual orientation or disability. We pride ourselves on creating a diverse and balanced workforce, as we believe this is a true representation of Gramercy Park Studios’s values, work and ethos. 

The gender pay gap is defined as the difference between the average earnings of all men and women in an organisation. This is a separate issue to equal pay, which is the legal requirement for people carrying out the same or similar work to be paid equally, regardless of gender. Our gender pay gap is not an equal pay issue, but one of lower female representation in our most senior roles and we remain steadfast in our commitment to addressing this. 

Results

This year, we have seen both our mean and median pay gap continue to improve, reducing from 18.3% to 16.5% and 17.7% to 16.3% respectively. While year-on-year comparisons for bonus pay gap continue to fluctuate considerably due to a variety of historical and geographical factors, we have also seen an improvement in our mean bonus of 46.6 percentage points, which has reduced the gap to 20.5%. We believe that this is a more accurate reflection of the improved gender split in senior roles where bonuses represent a greater share of remuneration and while some legacy stock transactions may still present themselves in the coming years, we are confident that our commitment to improving gender balance at our most senior levels will continue to make a positive impact. We also expect the median data to continue to fluctuate given the relatively small changes that are required to affect the calculations. 

The numbers

Ongoing initiatives

We continue to drive change through our initiatives and anticipate the impact of these programmes will continue to produce ongoing improvements in 2024 and beyond.

The following ongoing commitments reaffirm our position and remain unchanged:

• We have always recruited based on merit and will continue to do so. We believe opportunities should be available to all and are continuing to champion inclusive recruitment practices to drive inclusivity and eliminate bias.
• We will continue to ensure that we take a consistent approach to career development so that it is not impacted by factors such as taking parental leave including maternity or paternity.
• We will use analysis of data from online and face-to-face exit interviews to identify common themes for employees leaving Gramercy Park Studios that could influence the gender pay gap.
• We continually review all relevant Gramercy Park Studios UK policies, practices and procedures so they are consistent with objectives of reducing the gender pay gap over time.

Initiatives undertaken since last report

• We are continuing to invest in our talent and deliver on our promise to improving the gender balance at the most senior levels and have recently promoted 3 female colleagues to C-level roles within the organisation at a global level, these include - Chief Operating Officer, Chief Production Officer and Chief Client Officer. 
• We are also continuing to champion exceptional talent and new areas of the business and have recently promoted several female colleagues to new and important roles including Managing Director, Strategic Consulting and AI and Managing Director, Global Content Hubs.
• Alongside WPP we have created a new Creative Tech Apprentices initiative which is a transformative 9-month programme designed to nurture a diverse cohort of talented individuals to unlock their potential and excel in the world of creativity and emerging technologies. 
• We have also expanded our successful Originals programme enabling even more creators and makers to join us without having to conform to traditional recruitment methods.
• In terms of training and development, this year we have extended our programme to include Maestro, an immersive and experiential programme designed to help senior client leaders to develop and hone their client leadership capabilities. 

A global picture

To give a representative picture of Gramercy Park Studios Worldwide we have also chosen to share our worldwide consolidated statistics. Globally our mean gender pay gap has fallen from 14% to 10% and our median gap has fallen from 14% to 13% which provides a more globally accurate view of the balance of female employees in more senior roles employed across Gramercy Park Studios.

Statement

Gramercy Park Studios confirms that the information in this report is accurate and prepared in accordance with the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.
 

Richard Glasson

CEO