What does the gender pay gap mean to us?

We believe that society has been bound by preconceived ideas about what people can and can’t do for far too long. Factors such as gender, social backgrounds, ethnicity and ‘who you know’ have had a greater impact on the professional world than most are ready to admit.

At Schroders, we know that these stereotypes within our business and corporate world need to change, and we’re working to break them down and replace them with more inclusive perspectives. But there’s a long way to go before business can truly reflect the societies we all live in. To us, the answer is clear - developing a diverse, inclusive workforce across all our locations is about more than corporate responsibility, it’s a business imperative and it requires a long-term view.

We are going a step beyond saying that the gender pay gap is important. We have taken a holistic approach to gender, diversity and inclusion as well as social mobility. Because to us, they are all interrelated and they all contribute towards making us a market-leading, dynamic and socially reflective business.

At Schroders, we are committed to creating an inclusive culture where everyone can thrive. We are proud of the people that are helping us make positive changes to enhance our future. With their help, we have set out to #rethinktheroles and #rewritetherules.

Embedding diversity of thought across our business

We are committed to fostering an inclusive culture of diversity across our global workforce. This is led by our Group Chief Executive, Peter Harrison, who highlights why this is so important to him personally:

Much has already been written about the impact of the Covid-19 pandemic on gender equality and the true cost will only become known in years to come. The economic impact of the crisis has been significantly different for men and women due to the over-representation of women in certain roles and parts of the UK economy such as hospitality; how the burden of caring responsibilities has fallen disproportionately on women; and also because of existing inequalities. The disproportionate impact on women is not just a UK problem but a global issue, and as countries begin to recover we have to work hard to ensure we address long-standing inequalities and build a fairer, more resilient world.

As a leading investment manager, Schroders has a pivotal role to play in holding companies to account in terms of how they are contributing to that rebuild. We believe that not all profits are created equally and we need to be more aggressive in tracking the impact of societal and environmental events on corporate earnings and their investments. This includes the impact companies have on addressing inequalities for diverse groups, not only by gender but also ethnicity, sexual orientation, disability and social mobility.

In holding companies to account, we must hold the mirror up to ourselves and I am fortunate to be in a position where I can drive change at Schroders to deliver the benefits that I believe diversity of thought brings to both our business and wider society. We remain committed to publishing pay gap reports for other lenses of diversity once we have diversity profile data completed for over 80% of our people. This reflects my belief that data transparency is key to driving real change.

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Schroders is a world-class asset manager operating from 38 locations across Europe, the Americas, Asia, the Middle East and Africa.

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