The UK jewellery industry has failed to close the gender pay gap during the last 12 months.
By looking at data from the UK’s largest jewellery groups, Professional Jeweller can reveal that while the average dipped by a mere 1.9%, 7 out of 11 firms have actually increased, rather than decreased, their gender pay gap since last year.
On average, across all UK groups, the gender pay gap in 2018 was 23% (down from 24.9% in 2017). This is above the UK average of companies employing 250 or more people, which came out at 18.4% (2017: 19.3%) this year.
Professional Jeweller looked at the results of: The Watches of Switzerland Group, Signet Jewellers, Beaverbrooks, Fraser Hart, Swarovski, TH Baker, Thomas Sabo F.Hinds, Pandora, Chisholm Hunter and Tiffany & Co. Collectively, the groups employ over 9,000 people.
The mean gender pay gap is a measure of the difference between women’s mean hourly wage and men’s mean hourly wage across an entire workforce.
Beaverbrooks has overtaken Chisholm Hunter to have the lowest gender pay gap. The family-run national jeweller, which is celebrating 100 years in business this year, decreased its gender pay gap from 9.5% in 2017 to 9.1% in 2018, while Chisholm Hunter cited a bolster from 4.3% in 2017 to 10% in 2018.
Regardless of its increase, Chisholm Hunter still reported the second lowest gender pay gap, closely followed by Tiffany & Co, which reduced its gap from 17.3% to 12.4%.
F. Hinds has the largest gender pay gap of the groups, with its figure increasing from 36.2% to 37.6% over the last 12 months.
At 31.7%, Pandora cites the second largest gender pay gap, but it’s worth noting that the jewellery giant has slashed its gap by more than half over the last 12 months.
Pandora joins Beaverbrooks, Fraser Hart, and Tiffany & Co as the only firms to reduce their gender pay gaps. Fraser Hart’s average pay gap now stands at 19%.
T H Baker, Thomas Sabo, the Watches of Switzerland Group, and TH Baker have slightly increased their gaps by a percentage or two. Their 2018 figures are 32%, 31.1%, 28% and 21.9% respectively.
Swarovski posted quite a difference in its average gender pay gap, which jumped from 4.7% to 25.2%. In a detailed and transparent report published by the brand, managing director, Hayley Quinn, acknowledges this jump, stating “mitigating factors”, which can be read in the report, caused this increase to happen.
Quinn reports: “We endeavour to be transparent with employees with regard to pay decisions and we have worked hard to ensure decisions are made based on talent and role performance. We recognise that there is work to do to narrow the gap and we remain fully committed to ensuring gender parity across our business.”