Residential property investment expert Centrick has published its latest gender pay gap report revealing that it is bucking the national trend by delivering equal pay and opportunities for both men and women across its workforce.
Since the UK introduced mandatory gender pay gap reporting in 2017/8 progress within the private sector has remained stagnant. Amid news that four out of five employers still pay their male employees more than their female ones, Centrick’s report stands out as a benchmark for the rest of the industry to model in regards to equal pay.
The company’s 2023/24 report shows that while the UK’s median gender pay gap stands at 9.4%, at Centrick it is just 0.7%. And the median proportion of women in the top quartile pay band nationally is 39.5%, while at Centrick it is 55.6%.
Based in Birmingham, with offices across the country from Manchester to Southampton, Centrick employs over 240 people and has strong female representation across all areas and notably within leadership and board roles.
Centrick’s people director Gemma Powell said:
“In an era of increasing awareness and advocacy for gender equality, we are delighted to share this comprehensive analysis of our organisation’s commitment to fostering a diverse and equitable workplace.
“At Centrick, we firmly believe that every individual, regardless of gender, deserves equal opportunities, recognition, and compensation for their contributions. Our Gender Pay Gap Report is not just a legal requirement as we grow; it’s a testament to our dedication to transparency and our ongoing commitment to achieving gender parity in our workforce.
“This report provides valuable insights into our company’s progress, challenges and initiatives aimed at closing the gender pay gap. We have worked tirelessly to create a workplace that values diversity and inclusion, and this report is a reflection of our journey so far.”
The report’s key findings include (comparison figures according to Gapsquare analysis 2022):
- Gender pay gap is 0.7% (median is 9.4%)
- Gender bonus gap is 11.7% in favour of women (median is 15.2% in favour of men)
- Proportion of the top quartile pay band that are women is 55.6% (median is 39.5%)
- Proportion of the bottom quartile pay band that are women is 50/50 (median is 56.9%)
Centrick founder James Ackrill said:
“From our beginnings in 2005 we set out to nurture a property business with the most talented and knowledgeable people in the industry who would go the extra mile for clients. Our pay and benefits package is just one way we’re committed to providing an outstanding working environment.”
He added:
“We are committed to ensuring fair and equal pay, which takes into consideration market rates, inflation, other external factors as well as potential and performance through our succession planning initiatives. We strive to ensure our team members feel appreciated, suitably rewarded and motivated to continue offering the best service to our customers.”
According to the Office for National Statistics the median pay gap between men and women has remained at 9.4% since 2017. The gender pay gap is the difference between the average pay of men and women, expressed as a percentage. The equal pay gap is calculated across the entire workforce of an organisation. It has many contributing factors which will differ from organisation to organisation, across sectors and across geographical locations.
Centrick has grown consistently since its inception by successfully prioritising innovation, expertise, and building trusted relationships with its clients to deliver high quality service and results. First opening its doors in 2005, the agency now has over 20,000 properties across the UK on its books and manages over £3 billion in client assets.
About Centrick
Centrick’s vision is simple, “To make customers’ lives better everyday, the Centrick way” and for almost 20 years Centrick has nurtured, driven and grown its team by delivering industry leading service. Centrick prides itself on being a company of knowledgeable industry experts with a trusted, joined-up approach to all aspects of residential property. Innovation is at the heart of everything it does, helping it to adapt to the ever-changing market. This is all underpinned with a strong ethical code of trust and family values, where the team works as one to deliver exceptional service. National residential property experts, Centrick is forward-thinking and agile; always looking for new ways to work flexibly to meet the needs of its clients, using its strength and depth, across the property sector. By investing in talent, leading the way on industry practices, developing its technology and systems, it delivers an outstanding service to clients. Providing services across the UK, with offices in Birmingham, Solihull, Nottingham, Fareham and London, Centrick’s services include:
- Residential sales
- Residential lettings
- New homes
- Build to Rent – BTR, Student & SFH
- Valuation
- Professional Services
- Asset Management
- Insolvency
- Estate Management
