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Gender Pay Gap Report 2020

03/04/20
 
Discovering and delivering breakthroughs that change patients’ lives is at the core of everything we do at Pfizer, from driving our mindset and culture to motivating the business decisions we make. Our ambition is to be as diverse as the patients and communities we serve. In alignment with this, we are committed to closing the gender pay gap with the implementation of our strategy and dedicated team.

 

Download the full report:
Pfizer UK Gender Pay Gap Report 2020 (PDF / 1.75MB)

What is the Gender Pay Gap?

The gender pay gap is not the same as unequal pay. In other words, it does not show differences in pay for comparable jobs. The Equal Pay Act of 1970 prevents unequal pay of men and women for equal work. The gender pay gap is the difference between the average hourly pay for men and women across the entire organisation. This is expressed as a percentage of men’s earnings and provides a basic overview of the gender pay balance in the organisation.

According  to the Government Equalities Office, 79% of UK organisations reporting data for the year to April 2018 have a gender pay gap in favour of men.1

 

What's Pfizer UK's Gender Pay Gap?

At Pfizer UK we want to ensure that our culture is inclusive and that every colleague is empowered to bring their ‘whole self’ to work. We celebrate individualism and take pride in our diverse and passionate workforce. That inclusion supports each of us to perform – and to be – at our very best at work. But one of the obstacles to that drive for inclusion and equity is our gender pay gap, which exists because – at present – we have more men than women employed in senior positions and more women than men employed at junior positions.

Changing this situation is a process – and one that remains ongoing – but we’re pleased to say that this report shows an improvement in our gender pay gap. We are going in the right direction.

Pfizer UK’s median pay gap is 12.06% and the mean gender pay gap is 19.53%. The gap increases when bonus is taken into consideration. The median bonus gender pay gap is 24.39% and the mean bonus gender pay gap is 37.15%.

 

Whats Pfizer UK's committment for the future?

Addressing the gender pay gap is a standing item on our UK board agenda and our dedicated team have a strategy in place to address it. Here’s our five-point plan:

  1. Achieve a balanced Gender Candidate Slate across all levels and stages, continuing to enable recruitment of the best person for the role.
  2. Create a trusting, flexible workplace culture which encourages employees to achieve work life harmony, attracts talent and enables everyone to be their best working self.
  3. Evaluate and implement a programme of career progression support, enabling colleagues to find clarity, momentum and direction to make positive changes.
  4. Ensure a colleague returning from long term absence is exposed to equal opportunities, so that they can progress whilst feeling supported, engaged and part of the business again.
  5. Create an environment that supports employees at every stage of the family life-cycle from childbirth to adult years, recognising the modern family comes in many different forms.

Our commitment to addressing the gender pay gap reflects our values: Equity, Joy, Courage and Excellence. Although there is more work to do, we look forward to implementing positive change, in alignment with these values, to our business.

We’re pleased to say that this latest report shows an improvement in our gender pay gap, so we are moving in the right direction. However, we remain firmly committed to closing our gender pay gap, so much so, that it is a standing item on the UK Board agenda, ensuring it remains under scrutiny at the highest level of the business.”

Denise Harnett, HR Director, Pfizer UK

 

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References

  1. Office for National Statistics - Gender pay gap in the UK: 2019. October 2019. 

 

PP-PFE-GBR-2462 / March 2020