Gender Pay Gap

Legislative Requirements

The Workplace Gender Equality Act 2012 (the Act) requires non-public sector employers with 100 or more employees (relevant employers) to report annually to the Workplace Gender Equality Agency (WGEA) against
standardised gender equality indicators.

The reporting process involves completing a workplace profile and a reporting questionnaire.

The gender equality indicators are designed to measure gender equality in the workplace, including areas such as leadership, gender composition of the workforce, and remuneration.

The Act does not require employers to report their action or progress towards meeting any particular target.

The WGEA publishes public report submitted by relevant employees on their website after removing personal and remuneration information.

The Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Act 2023 requires WGEA to publish aggregate information for each relevant employer for each reporting period showing the employer’s
gender pay gap and progress in achieving gender equality in relation to remuneration for the employer’s workforce.

The gender pay gap information for 2023 was published on the WGEA website in February 2024 and this report provides additional information to assist with understanding the information published by WGEA and
also actions Acumentis is taking to address gender equality.

Our Gender
Pay Gap

We recognise that the gender pay gap is a crucial indicator, reflecting the disparity in the average total remuneration of men and women across all roles and seniority levels.

According to the measurement by WGEA, our overall median gap stands at 47.8%, however the median base salary gap is 28%. 

Taking ownership of our situation, we acknowledge that the gender pay gap within our organisation is primarily influenced by variations in performance pay, which is tied to the level of fees generated by leaders, management, and professional staff. Additionally, the lower representation of females in roles with higher potential performance pay contributes to this imbalance.

We understand that the roots of gender pay gaps are deep-seated and intricate. However, we are committed to taking decisive actions that will yield the most significant potential impact in reducing this gap. It is our responsibility to address these issues head-on and work towards fostering a more equitable and inclusive environment.

The gender pay gap at the senior leader level is being addressed via a focus on increasing the proportion of females holding these roles.

For professional staff, the gap is related to the level of fees written given our pay is weighted towards performance pay based on the level of fees written by each employee.

When we look at total remuneration as a percentage of fees written by gender, female professionals earn a higher percentage.

Whilst many of our female employees earn a higher percentage of fees written, overall their total remuneration may be lower than a male counterpart who writes higher total fees.

We are taking steps to ensure that female employees are given opportunities to write higher fees and to remove any potential impediments to achieving this.

Acumentis continues to be committed to promoting diversity, equality, respect and inclusion. We recognise that diversity and inclusion benefits our profession and the community. Accordingly, Acumentis has and continues to commit to:

• Treating people with respect and dignity regardless of sex, sexuality, disability, age, race, ethnicity, religion, culture or other feature;
• Creating and fostering equality through a supportive and understanding environment for individuals to realise their maximum potential regardless of differences;
• Promoting and supporting a strong and fair profession comprising, accommodating, encouraging and respecting a diverse range of individuals and views.

Specifically in relation to the gender pay gap:

• Our pay gap exists as a result of greater male than female representation at different levels in the company. We will address this by working to remove the underlying causes and develop a workplace where all people can achieve their goals and progress through the organisation or grow in their current roles.
• Whilst we do not have formal targets for gender representation in leadership positions, we are committed to increasing participation of women in the workforce and specifically in leadership positions to provide diversity of opinions and beliefs

A word from the Managing Director & CEO

“Diversity is the mix of people in our organisation. Inclusion is getting this mix to work – creating an environment where a diversity of people are respected, connected, and progressing and contributing to our organisation’s success.

Therefore, as an organisation, if we wish to experience the benefits of diversity, we need to continue to cultivate not just a diverse workplace but importantly, an inclusive one.”

Timothy Rabbitt
Managing Director & CEO