Penny Petroleum Gender Pay Gap Report for April 2018

Whilst Penny Petroleum is not required by law to publish an annual gender pay gap report due to our organisational structure, we have decided to do so because the collective headcount across our group of companies is higher than 250.

This is its report for the snapshot date of 5 April 2018.

  • The mean gender pay gap for the Company is 2.69%
  • The median gender pay gap for the Company is 0%.
  • The mean gender bonus gap for the Company is 54%.
  • The median gender bonus gap for the Company is 0%.
  • The proportion of male employees in the Company receiving a bonus is 9% and the proportion of female employees receiving a bonus is 10%.
Pay quartiles by gender
Band Males Females Description
A 49% 51% Includes all employees whose standard hourly rate places them at or below the lower quartile
B 50% 50% Includes all employees whose standard hourly rate places them above the lower quartile but at or below the median
C 13% 87% Includes all employees whose standard hourly rate places them above the median but at or below the upper quartile
D 43% 57% Includes all employees whose standard hourly rate places them above the upper quartile

The figures set out above have been calculated using the standard methodologies used in the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.

What are the underlying causes of Penny Petroleum’s gender pay gap?

Penny Petroleum does not have a significant gender pay gap. The mean gender pay gap has been reduced from 3.37% in 2017 to 2.69% in 2018, which is very pleasing.

 

There is a gap in mean bonus payments, which is due to the fact that within our senior and area management team, who are in receipt of the highest bonuses, as of 5th April 2018 there were four men and only three women.

 

What is Penny Petroleum doing to address its gender pay gap?

Penny Petroleum does not have a significant gender pay gap, however we are continually monitoring our pay and reward systems to ensure that men and women are equally rewarded.

 

I, David Penny, Managing Director, confirm that the information in this statement is accurate.

Signed: David Penny.