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OFFICE/OFFSPRING Gender Pay Gap Report

Office Holdings Limited

Gender Pay Gap Report

Snapshot date: 5 April 2022

Introduction

Office Holdings Limited (‘Office’) employs more than 250 employees located in Great Britain. We are therefore required by the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 to publish an annual gender pay gap report.

This report shows the difference between the average earnings of United Kingdom male and female employees of Office, regardless of role seniority. The report also reflects differences in the average bonuses earned by such employees, the percentages of male and female employees receiving a bonus, and the proportions of males and females in each pay quartile of our workforce.

The report outlines the gender pay gap for Office for 2022, calculated as per the Regulations, at the snapshot date of 5 April 2022.

How is Gender Pay Gap calculated?

This is the difference between average hourly pay (including any bonus) of males and females across the organization, expressed as a percentage. It is reported both as a mean average and as median average (mid-point) figure.

Gender Pay and Bonus Gap Summary

Office’s overall gender pay gap mean is favorable to the male employees by 11.2% and overall gender pay gap median is favorable to the female employees by 1.6%. This is a very positive result in comparison with the UK National average and UK Retail Sector gender pay gaps, as detailed in the table below.

Office UK Retail Sector* UK National*
Mean 11.2% 13.5% 13.9%

*Based on ONS data and insights for 2021

Of all males employed by Office in the 12-month period ended on 5 April 2022, 63.2% of the male employees received a bonus, while the corresponding proportion for females was 79.1%. The difference in the values of such bonuses received between male and female employees was a mean of 39.0% and a median of 19.4%.

Our Results Explained

Pay Gap:

The mean gender pay gap difference of 11.2% is predominately driven by the variance in the hourly paid rate of male versus female employees. This can be attributed to the fact that larger number of females are employed in the lower quartile compared to men and we have a higher proportion of female employees under 21 where the national wage is lower. Of the employees in the lower quartile, 50% are females under 21 and 18% are males under 21.

The below charts show the proportion of males and females across Office’s four pay quartiles.

Bonus Gap:

The mean bonus gap difference of 39.0% and median of 19.4% is led by a higher proportion of male employees working in our top performing stores. There is no difference in the bonus and commission structure between male and female employees within Office.

Conclusion and Director Statement

Although the results of the Office gender pay gap analysis are positive, we will not become complacent but will continue to keep our performance in this area under ongoing review and seek to enhance the experience of all of our employees in respect of equality, diversity and inclusion.

I confirm that Office is committed to the principle of gender pay equality and has prepared its 2022 gender pay gap results in line with mandatory requirements. I confirm that the information contained in this report is accurate at the time of publishing.

Jon Richens

Managing Director

3rd May 2023