Introduction

At the heart of our Purpose and Values is a fundamental belief that our people are at the centre of our business. An integral aspect of this belief is a commitment, through our Equality, Diversity and Inclusion (EDI) strategy, to build an open and inclusive work environment, where all colleagues have equal opportunities, and access to development, progression and growth.

We pay the same salary to large bands of our employees, ensuring pay transparency and promoting equality. We are confident that men and women receive equal pay for performing equivalent jobs.

Proportion of Male and Female Employees

As Oak Furnitureland Group Limited was incorporated in June 2020, we are reporting our Gender Pay Gap figures for the third time. Our data is based on 1121 relevant employees as of 5th April 2023 across Retail, Supply Chain and Head Office Teams. We have a 23% to 77% mix of female to male employees. The higher volume of male employees is driven, in large part, by our Supply Chain locations, which have traditionally attracted a higher male bias in their workforce.

The proportion of male and female employees in each quartile is shown in the table below:

Gender Pay Gap

Our hourly pay for female employees was 6.35% higher than for male employees, on a mean average basis. On a median basis, it was 6.62% higher. This is because we have a higher proportion of female employees in senior roles.

Bonus Reporting

This data is based on 1121 employees across Retail, Supply Chain and Head Office teams. 49% of female employees were awarded a bonus; 42% of male employees were awarded a bonus. Bonus pay for female employees was 29% lower when measured as a mean average, and 24% lower when measured as a median average. The majority of employees who received a bonus &/or commission-based payment work in our Retail &/or Logistics sectors. Bonus is made up of performance-based commissions. Retail and Logistics colleagues account for over half of Oak Furnitureland Group employees, and bonuses paid to both genders were consistent.

Next Steps

At Oak Furnitureland Group, we are committed to ensuring all our employees are rewarded fairly and consistently, with equal development and training opportunities.

The business recognises diversity is achieved through its talent acquisition strategy. In line with this, we have implemented various initiatives, including more flexible shift patterns and hybrid working, which further promote a better work-life balance and gender equality.

I declare that the data presented in this report is accurate and in line with the mandatory requirements.

Alex Fisher
Chief Executive Officer

Notes:

Gender Pay Gap Explained

All UK businesses of more than 250 employees must publicly report on their gender pay gap (GPG), which is the measure of the difference between the average earnings of men and women across an organisation, regardless of their roles or the nature of their work. This is not the same as equal pay, which is the legal obligation on employers to pay men and women equally for work of equal value.

The GPG is calculated using ‘mean’ and ‘median’ averages.

- Mean averages: The sum of the hourly rate of all female employees divided by the total number of female employees. The same calculation is performed for male employees and the gap is expressed as a percentage.

- Median average: The midpoint of hourly earnings when all values are listed numerically as a percentage

The GPG also reports on mean and median bonus gaps, number of male and female employees who receive bonuses, and the proportion of men and women in each quartile of the organisation’s pay structure.