Introduction

At Oak Furnitureland, we are committed to fostering an inclusive and diverse workplace where all employees have equal opportunities to grow and thrive. Pay equity is a key part of this commitment, and we continuously review our practices to ensure fairness and transparency across all roles.

As part of our ongoing efforts to promote equality, we have introduced a Role Grading Framework, which provides a structured and objective approach to role level, pay and career progression. This framework enhances our ability to ensure consistency in pay decisions and reward employees fairly for their contributions, and aligns our pay structures with market benchmarks.

We remain confident that men and women receive equal pay for performing equivalent jobs and are dedicated to further strengthening our approach to pay equity.

Employee Gender Split

Our data is based on 1,017 relevant employees as of 5 April 2024 across Retail, Supply Chain, and Head Office teams. Our workforce comprises 24% women and 76% men.

The proportion of men and women in each pay quartile for 2024 is shown in the table below:

Gender Pay Gap

The hourly pay for women was 5.07% higher than for men on a mean average basis. On a median basis, it was 0.91% higher. This is because we continue to have a higher proportion of women employed in senior roles.

Bonus Reporting

This data is based on 1,017 employees across our Retail, Supply Chain, and Head Office teams. 40.1% of women received a bonus, compared to 42.9% of men.

Bonus pay for women was 15.1% lower when measured as a mean average and 19.87% lower when measured as a median average. The majority of employees who received a bonus or commission-based payment work in our Retail and Logistics functions, where bonus pay is primarily performance-based commission. Retail and Logistics colleagues account for over half of Oak Furnitureland Group employees, and the bonus structure is consistent for both men and women.

Next Steps

At Oak Furnitureland Group, we are committed to fostering an inclusive workplace where all employees are rewarded fairly and have equal opportunities for development. We will continue to enhance our approach to pay equity by leveraging our newly introduced Role Grading Framework to ensure consistency in pay decisions and career progression.

By maintaining transparency and regularly reviewing our pay and bonus structures, we remain dedicated to reducing any disparities and ensuring fairness in our reward practices.

I declare that the data presented in this report is accurate and in line with mandatory requirements.

Alex Fisher
Chief Executive Officer

Notes:

Gender Pay Gap Explained

All UK businesses with more than 250 employees must publicly report on their gender pay gap (GPG), which is the measure of the difference between the average earnings of men and women across an organisation, regardless of their roles or the nature of their work. This is not the same as equal pay, which is the legal obligation on employers to pay men and women equally for work of equal value.

The GPG is calculated using ‘mean’ and ‘median’ averages:

Mean averages: The sum of the hourly rate of all female employees divided by the total number of female employees. The same calculation is performed for male employees, and the gap is expressed as a percentage.

Median average: The midpoint of hourly earnings when all values are listed numerically.

The GPG also reports on mean and median bonus gaps, the number of male and female employees who receive bonuses, and the proportion of men and women in each quartile of the organisation’s pay structure.