Clydesdale Bank owners vow to close 37% gender pay gap

Image source, CYBG

Clydesdale Bank's parent company is to raise its minimum salary for full-time staff to £17,000 in a bid to tackle the company's gender pay gap.

CYBG revealed in its first gender pay gap report that its male staff were currently on average paid 37% more per hour than their female colleagues.

The gap for all employees in the UK is 18.4%, according to the Office for National Statistics.

For full-time employees, the figure is 9.1%.

The 11% pay rise for CYBG workers will benefit about 600 women and 200 men in its workforce of 5,813.

CYBG, which also owns the Yorkshire Bank, said the current pay gap was "driven largely by the higher number of men in senior roles, compared to their female counterparts".

It said the bank was working to build "strong female representation at all levels" within the organisation to challenge the differential.

Inclusion targets

Kate Guthrie, CYBG's group human resources director, said: "Inclusivity and diversity are at the heart of our business - we are a people-led business and are determined to make CYBG a brilliant, rewarding and inclusive place to work.

"The publication of our first ever Gender Pay Report is an important milestone in our drive to create stronger gender diversity across the business and have greater representation of women at senior levels across all parts of the bank.

"We've introduced a target of 40% females in senior management roles by 2020 and are now formally linking senior executives' reward to the delivery of our inclusion targets. But we won't stop there - ultimately, we want to achieve a 50:50 gender balance in senior management roles.

"We are working hard to improve our gender pay gap and in addition to setting targets we are also making flexible working easier, investing in our talent and succession programmes and taking a sustainable and effective approach to our long-term recruitment planning."