Facts and Figures Report
In the UK, the difference in average salaries between men and women in various job sectors is known as the gender pay gap. Companies must address this issue, as it is an indication of wider inequalities in the job market and society. By focusing on lowering the gender wage gap, businesses can encourage equity, diversity, and inclusivity within their work environments. This promotes equality in society in addition to helping individual workers and the performance of the company as a whole.
Mean bonus pay is the average bonus amount received by employees within a given group or organisation. It is calculated by summing up all bonus payments and then dividing by the total number of employees who received bonuses. Mean bonus pay can be influenced by outliers, such as exceptionally high or low bonus amounts, which may skew the average.
Median bonus pay represents the middle value in a list of bonus payments when arranged in ascending order. It is not affected by extreme values or outliers in the same way as the mean. Median bonus pay provides a measure of central tendency that is less sensitive to extreme values, making it a useful indicator of the typical bonus amount received by employees within a group or organisation.
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