2024 Diversity and Compensation Report (UK)

The following is Business Insider UK's latest Diversity and Compensation Report. It provides critical data that enables us to track our diversity and equity progress on an annual basis.

The report looks at our UK workforce (including Belfast), as of March 15, 2024 as compared to the previous three years. Any changes since that time (e.g., new hires, promotions, departures) will not be reflected in this report. For the sake of simplicity, our compensation data does not weigh such factors as experience and/or area of focus.

We know that diversity makes us stronger and better every day. Our goal is to work towards progress over time. And we strive to be innovative and creative in how we attract, support, and develop talent from diverse backgrounds.

For the third year in a row, we have partnered with Littler Mendelson, a law firm that specialises in pay equity analysis and DEI, to help us better evaluate our diversity data on a year-over-year basis. Our goal is to provide insights and reveal trend lines that will enable us to continue to make progress in our efforts.

Our 2023 report accounted for 35 new hires. During the timeframe of this current report, there were only 13 new hires in the UK. This small sample size means we can not present new hire analysis as we have in previous years without placing individual privacy at risk.

Here are key findings of the report:

• The overall gender diversity of our workforce has remained consistent year over year at 61% female, 39% male.
• Racial diversity has seen a decrease from 25% to 17%.
• The pay gap for female employees saw an improvement from 90 pence to 93 pence.
• The pay gap for BIPOC employees saw an improvement from 84 pence in 2022 to 94 pence as of this report.

Demographics

The following is an overview of Business Insider UK using demographic and pay data as of March 15, 2024. There are 102 full-time staff members reflected in this report. Of those, 36 are considered leadership (defined as Director/Deputy Editor level and above).

To maintain employee anonymity for members of groups with smaller representation, race/ethnicity is aggregated into three categories: Black, Indigenous, and People of Colour (BIPOC); white; and undisclosed.

Business Insider UK Workforce

Figures 1 and 2 depict the demographic composition of our Business Insider UK workforce. Business Insider UK has a higher percentage of both female and white employees compared to male and BIPOC employees, respectively.

Gender composition has remained consistent since 2021, varying only by one percentage point over time. Race composition has varied by a larger degree. It should be noted that an increased number of employees (9%) have chosen not to disclose race information since 2021. Because of the sample size, this increase may have a direct impact on BIPOC and white employee percentages.

Compensation

Business Insider UK Workforce

The remaining figures provide insights into the relative pay of female and BIPOC employees. It's important to note that these figures highlight the existence of a pay gap but don't take into account factors that may influence pay difference, such as experience and job type.

In 2024 (Figure 3), female employees are paid 93 pence on average for each pound of male pay, an increase of three pence since the previous year. BIPOC employees (Figure 4) are paid 94 pence for each pound in comparison to white employees, a substantial improvement since 2022 where BIPOC relative pay was only 84 pence on the pound.

Key Actions Taken Since Last Year's Report Came Out

• We launched the Talent Acquisition Portal, which provides the entire company with tools and resources for hiring best practices.
• We rolled out a formal internal candidate policy and process to ensure equity and consistency for internal applicants.
• We held training sessions for interviewers and hiring managers, focusing on bias mitigation and structured, competency/skill-based interviewing.
• We have launched an inclusive coaching program to balance professional and personal development for our UK Sales Leads and Account Directors, nurturing and supporting our female leaders and future leaders.
• We have invited external speakers to give insightful presentations on Financial Wellbeing and Boosting Resilience for our UK employees, in addition to our monthly Skill Up London program.
• We implemented executive support and stipends for ERG leads, allowing us to expand our employee resource groups to a total of 8 represented communities.

How We'll Continue to Make Progress

• With the completed move from Namely to Dayforce, we are working on ways to improve how employees self-identify. This information will allow us to offer more robust data for future Diversity and Compensation reports.
• We will utilize information gathered from the common review to identify and address any existing pay gaps in Q4.
• Through the lens of creating a more equitable workplace, the WEX team will launch year-long coaching and mentorship initiatives focused on public speaking, self-marketing, project management, and other key skills.
• A tailored management training program is being rolled out for our editorial managers, focusing on developing skills, competencies and awareness to continue to support and develop our London newsroom.
• We will be collaborating on remote-friendly events with the Journalism Diversity Fund (JDF).

In Belfast, we are collaborating with STEM Ambassadors Northern Ireland to organise events that open doors and educate young people wanting to enter the tech sector. This is in addition to other outreach work including Women Techmakers, NI Software Alliance, Queens Computing Society, and HacktheHub .