Ladbrokes Coral aims to close gender pay gap

The governance of FTSE-listed bookmaker Ladbrokes Coral Plc has stated that it will work to close its gender pay gap, following the publication of corporate statistics by the UK government.

Under the requirements of ‘The 2010 Equality Act’, UK companies with more than 250 staff have to disclose yearly gender pay employee data.

Ladbrokes Coral, the UK’s biggest retail betting operator is among the first 500 firms to disclose figures. The bookmaker reveals that its mean hourly pay for female staff is on average 15% less than for men.

However, Ladbrokes Coral states that its 15% gender pay-gap disparity is significantly impacted by its senior-level executive pay structure, in which the FTSE bookmaker admits to having a ‘weak representation’ of female executives.

Presenting its own research, Ladbrokes Coral details that it median hourly pay difference is currently at 2.5% which compares favourably with the retail sector median of 18.8% and the UK median pay gap of 18.1% across all sectors in April 2016.

“The gap in both our mean pay and mean bonus shows there’s more work to be done. And while we don’t have an equal pay issue across the Group, we do need to take steps to reduce our pay gap. That means we’re having a closer look at the structure of our workforce and in particular what we can do to get more women into those senior roles.” Ladbrokes Coral detailed in its Gender Pay report statement.