Gender Pay Gap Reporting UK
At Boston Scientific diversity is a core value, and we are dedicated to fostering an inclusive environment where each person has the opportunity to reach their full potential.
Our compensation programmes (‘Total Rewards Programs’) help us to attract, 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.
At Boston Scientific, providing equal pay for equal work is rooted in our values and essential to attract and retain a diverse and engaged workforce. We are committed to ensuring all compensation decisions are neutral with reference to gender or any other protected classes. For example, we offer compensation programmes 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 on these pages sets out the gender pay gap pertaining to our UK (excluding Northern Ireland) workforce, as required by UK legislation.
Equal pay refers to a legal requirement that male and female employees who are engaged in equal or similar work or work of equal value must receive equal pay and other workplace benefits.
The gender pay gap is a broader measure of the difference in the average eranings of men and women - regardless of the nature of their work - across an organisation, a business sector, an entire industry or the economy as a whole.
What is the nature of our pay imbalances?
The imbalances highlighted by this disclosure, present in the UK (excluding N.I.) workforce, are largely based on representation 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 since 2014, and annually since 2016. These studies, which were conducted by an independent, third party, 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. The 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 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 action 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.
In 2018, we launched our ambitious 10-20-40 diversity goals. The goals include increasing the global representation of women to 40 percent at the supervisor and manager level. Today, that figure stands at 37.4 percent globally and at 38.2 percent within the Europe, Middle East and Africa (EMEA) region.
In the UK, as across the company, we have several initiatives in place aimed at encouraging and supporting more women to apply for and succeed in leadership positions. For example,
• Boston Scientific sponsors Employee Resource Groups that 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. The EMEA chapter will be/was launched on International Women’s Day 2019;
• The company has introduced manager training to strengthen coaching and development of all employees, and expanded our education on workforce inclusion. This includes mandatory unconscious bias training for 100 percent of UK people managers to help them recognise and minimise bias blind spots and engage in more open and honest conversations with employees.
• We now have a requirement for a gender balanced slate for candidate pools for manager and above; we require at least 50% of female candidate representation on the interview slate.
• The EMEA Diversity and Inclusion Council focuses on developing gender strategies for the region, a key area of focus of the EMEA Leadership Team.
• The company offers a variety of benefits and services to support life/work integration including sabbaticals, additional vacation, and flexible working arrangements, where possible.
• Boston Scientific is also building a pipeline of female talent through targeted development and succession planning, diversity recruiting and mandatory consideration of a pool of diverse candidates for open leadership roles.
• Hiring managers and interviewers are also asked to refrain from asking about pay history during the hiring process to help mitigate against inheriting gender pay inequalities.
• We offer a comprehensive learning and development programme to equip our UK employees with the tools required to advance their careers.