28 Mar 2024
Gender Pay Gap Report 2023
Today we publish our 2023 Gender Pay Gap Report and are pleased that our median pay gap has decreased from 9.6% to 6.7%, which continues a positive trend since we began reporting in 2017 with a reduction in the pay gap year in year.
This means that we continue to track well below the UK average gender pay gap (currently at 14.3%). Whilst this is positive, we recognise there is still more to do, and we remain focused on closing the gap as quickly as possible.
The Gender Pay Gap Report is crucial for Babcock and reflects our continued commitment to creating and maintaining a working environment that is inclusive, diverse and supportive, which provides opportunities for all our colleagues. But as a defence company, we operate in a sector that continues to be male dominated and our challenge remains primarily an issue of representation. For us, having more women across the Group, and particularly in senior leadership roles, remains key to our long-term strategy.
In continuing to tackle the drivers of our gender pay gap using an evidence-based approach and monitoring progress to try to drive greater inclusivity, our long-term strategy to enable equal representation is based on three key themes:
- Delivering a global response to inclusion
- Growing new talent pipeline for the long term and attracting the best female talent from the current pool
- Enabling employees to fulfil their potential within Babcock