QBE publishes its first ethnic minority pay gap report
QBE has published its first ethnicity pay gap report, which highlights a mean bonus pay gap of 54.9% in favour of white employees, but ethnic minority employees do receive a 10.4% better median pay.
The data is based on 80% of QBE’s UK workforce who have shared their ethnicity and has then been grouped into the categories of ethnic minority and white employees.
Data from the report showed the median pay gap – the middle point of the hourly rates of all ethnic minority employees surveyed compared with that of all white employees surveyed – was 10.4% in favour of ethnic minorities.
However, the mean pay gap – the total of all ethnic minority hourly rates added together and divided by the same number surveyed, compared with the same figure for all white employees – was 7.9% in favour of white employees.
The chart above shows the percentage of white, mixed, black and Asian representation at each level of seniority within the business, with 0 being the CEO, 1 being the executive management board and 6 being the most junior roles.
In 2020, nearly 17% of the UK population identified as black, Asian or mixed heritage; at QBE, those ethnicities accounted for 9.3% of senior-level staff and 0% of executives.
To reduce its ethnicity pay gap, QBE said it was partnering with an external consultancy to conduct research and provide business insight on the company’s performance ratings from an “ethnicity perspective and identify where there are opportunities for bias”.
The carrier is also introducing a tool that allows leaders to “continually understand and check pay and progressions of their teams based on ethnicity and gender”.
Jason Harris, international CEO, said: “This is our first year publishing our ethnicity pay gap data with the intention to be transparent with our colleagues, by listening to their experiences and finding ways to create more opportunities and continuing to forge an inclusive and diverse workplace.”