Gender Pay Gap Reporting UK
Gender Pay Gap Reporting UK
At Boston Scientific we have made diversity and inclusion one of our core values, and we are dedicated to fostering an inclusive environment where each person has the opportunity to reach their full potential.
Our pay programmes (‘Total Rewards Programs’) help us to attract, retain, motivate and reward our employees. Our programmes include base pay, bonus pay, shares, health and wellness, learning and career development, retirement and other reward and recognition programmes.
We are committed to ensuring all compensation decisions are neutral with reference to gender or any other protected classes. For example, we offer compensation programs that are market driven; our pay structures and bonus targets for any given role are driven by the job, and market data for that job. In addition our annual pay review process is performance-based, ensuring our managers set and review compensation in a way that is gender neutral.
We are determined to reduce the gender pay gap and we continue to take concrete steps to support the professional development and advancement of women at Boston Scientific. The information published below sets out the gender pay gap pertaining to our UK (excluding Northern Ireland) workforce, as required by UK legislation.
What is the nature of our pay imbalances?
The imbalances highlighted by this disclosure, present in the UK (excluding N.I.) workforce, are largely structural in nature; meaning more men are in senior, higher paid positions.
We are confident that men and women are largely paid equally for doing similar jobs as we have undertaken significant global pay equity studies in 2014, 2016 (sales focused) and 2017. These studies included factors not considered in the calculations required for this legislative disclosure – location, job level, job grade, time with Boston Scientific and time in the role. Our analysis of these results shows that there are no statistically significant issues regarding equal pay between men and women for similar jobs in the UK. Should there be issues identified in any ongoing or future analysis, we have well established processes in place to address these cases.
How we are addressing gender pay imbalances?
We are committed to taking further actions to reduce the structural gap. In 2017, Chairman and CEO Mike Mahoney joined 150 CEOs of the world’s leading companies to sign the CEO Action for Diversity and Inclusion Pledge, the largest CEO-driven business commitment to advance Diversity and Inclusion in the workplace. Leaders who sign the pledge commit to continuing to make their workplaces a trusting environment where complex and sometimes difficult conversations about diversity and inclusion can occur. We have a number of initiatives in place aimed at encouraging and supporting more women to apply for and succeed in senior positions. For example,
- Mandatory unconscious bias training for 100 percent of UK people managers, helping them to recognise and minimise bias blind spots and engage in more open and honest conversations with employees
- Implementation of the EMEA Diversity and Inclusion Council; a group that will focus on developing strategies on gender for the region, a key focus of the EMEA Leadership Team for 2018
- Facilitation of flexible working arrangements where possible
- Boston Scientific sponsors Employee Resource Groups which foster a diverse and inclusive work environment; this includes the Boston Scientific Women’s Network, which organises events and activities aimed at supporting women’s advancement and development
- We offer a comprehensive learning and development programme to equip our employees with the tools required to advance their careers.