2022 has been a successful year in the trajectory of our D&I progress within Savills.
Our six well-established D&I groups spanning age, disability, ethnicity, gender, LGBTQ+ and social mobility have continued to make tangible difference in the workplace, but we know that intersectionality is a key thread of D&I that impacts the way people feel when they walk through the door and work in our UK business. Therefore, it is key to us that the next phase of our D&I journey focuses on cementing this linkage, so that we encompass the work of all six groups, which is fundamental to the inclusive culture we strive for.
Savills strives to be a truly inclusive employer within the property industry by having the right inclusive policies, training, leadership and recruitment principles in place to ensure all employees, customers and clients are treated fairly and are able to be their true, whole selves
www.savills.co.uk
To do this, we have identified three key strategic pillars:
Attract. Develop. Lead.
Savills Pay Gap Report 2022
Attract
We will attract the most diverse talent at all stages of their career from all backgrounds
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Develop
We will develop our diverse talent, ensuring clear career paths with no glass ceilings
Lead
We will lead by example with our most senior leaders setting an inclusive culture
Our pillars are founded on a continued focus on education and celebration – a flavour of which you can get from in this report. We have also further driven the importance of understanding social mobility and the impact that a person’s socio-economic background can have on every aspect of their life. We are dedicated to removing barriers for those from underrepresented groups, or those who have had a disadvantaged start to life, and we want our business to be as inclusive and welcoming as possible – a mission we are making good progress on.
Savills is pleased to present its gender and ethnicity pay gap report for its UK business for 2022. As our report demonstrates, we have made progress from 2021 to 2022, but – most significantly – since we started reporting (2017 for Gender and 2020 for ethnicity). We recognise that the gap is still larger than we want it to be, and our ultimate goal is to have a workforce that reflects the society we operate in, which we are making good progress on.
To achieve that goal, here's what we’re doing and what’s next for us at Savills.
James Sparrow | Chief Executive Officer, Savills UK & EMEA
We are in a industry that has historically been quite hidden to those from particular backgrounds. In order for us to achieve our goal to reflect society, we have put a large focus on increasing awareness of our industry to those who are still considering their future careers. This has involved attending schools and sharing the breadth of roles we offer in Savills. From an estate agent, to a marketing guru, to a property valuer – there’s something for everyone. We have seen a huge uptake in applications from those from an underrepresented group for our graduate and apprentice schemes, and as a result our diversity representation is improving.
We are incredibly proud of our graduate and apprenticeship schemes. We have continually ranked number 1 Graduate Employer for property with The Times, and also won best apprenticeship employer with ‘Rate my Apprenticeship’. Both of these achievements have not been earned because of a centrally drafted submission, but because our grads and apprentices rated their experience with us so highly that we ranked first. We will continue to drive our future talent efforts, but we will also focus on experienced hires too with a strategy forming to support this.
We believe at Savills that bringing in diverse talent is only one part of the picture. Retaining and developing our talent is also key. Therefore, we have ensured priority on our development programmes across the business. Some of this has been targeted at women in the workplace and for those from ethnically diverse backgrounds. For example, we offer drop in calls for women who are hoping to apply for a promotion where women can learn more about the process, gain direction in areas of self-development in advance, and increase their confidence for the interview process. For our ethnic minority colleagues, we are trialling some targeted upskilling on areas our colleagues have identified as gaps, including presentation skills.
We invest significantly year on year into our L&D for people at Savills. We also partner with external organisations to deliver on talent development, such as We Rise In, which is targeted at Black employees who are looking to progress within property. We believe learning should never stop, and our UK board have reverse mentors who are there to support on improving our leadership’s understanding of different lived experiences and also on their leadership capability. This will always be a priority for us, and we are only adding to our D&I L&D curriculum each year.
A culture of belonging is fundamental to the every day experience of Savills employees, which is why we have high expectations on our leadership when it comes to the way they set the culture within their teams and divisions. Not only that, but we ensure that creating an environment where people feel like they can bring their whole selves and be their best selves is supported by the relevant policies and practices to enable this to happen. Within 2022, we rolled out some large scale activities and initiatives across our business, which we are having success.
For example, we have recently updated our family friendly policy, as we know this is something crucial to support our aim in closing the gender pay gap. We have over 1000 volunteers across the business who have signed up to be inclusive allies and we are in the process of equipping our volunteers with the tools they need to challenge any negative behaviours through training. We have a lengthy yearly calendar of events and celebrations for particular D&I dates. This is something we share across the entire business so that our regionally spread offices are able to forward plan how they will get involved. This calendar is also supported by toolkits with best practice of event planning and key messaging on D&I.
70%
increase in the number of apprentices hires across the business in 2022, up from 67 in 2020 to 230 in 2022
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What D&I means to our Leaders
We know we have a way to go but are committed to closing the gap and ensuring that everyone has the opportunity to be the best they can and to be themselves.
The programmes we have developed for our undergraduate and apprenticeship schemes have been widely recognised as market leading and we are proud to hold The Times Graduate Employer of Choice for Property for 17 consecutive years. We are ranked 1st overall in both the RateMyPlacement award for undergraduate employers and the RateMyApprenticeship awards for Apprenticeship Employers in 2022-2023 reinforcing the importance and commitment we have placed on ensuring that our most junior employees are being supported in the right ways.
Award winning
our Gender pay gap by numbers
We continue to work to ensure all women in our business have the opportunity to succeed and we are seeing an improvement in the Gender Pay Gap as a result. The pay gap has reduced across both the mean and median metrics from 2021 to 2022 and we have seen a 4% increase in the number of women in the top quartile.
We are learning from our successes and have focussed on those initiatives which are making the greatest difference to our employees, providing coaching and support for women at all stages of their career.
82.60%
71.46%
EMPLOYEES RECEIVING A BONUS IN 2022
attract. develop. lead
Hourly Pay Gap
Pay Bonus
2022
2021
2020
2019
2018
2017
mean
median
4.05%
0.37%
6.66%
4.8%
-1.3%
-1%
-11.17%
-16.36%
-7.01%
-7.5%
-12.3%
-16%
18.10%
4.62%
11.04%
8.3%
0.13%
5%
-1.85%
-2.63%
-9.4%
-5.8%
-4%
-4.82%
gender hourly pay gap
gender pay bonus
2022 Figures for 2023 reporting
Proportion of employees in each pay quartile band
Upper quartile
Upper middle quartile
lower middle quartile
lower quartile
male
female
64%
36%
52%
48%
30%
38%
62%
Savills (UK) Limited
Savills Management Resources Limited (“SMR”)
Savills UK business
84.86%
81.06%
76%
24%
31%
69%
35.42%
39.60%
35.57%
39%
45%
40.55%
41.17%
41.29%
43%
44%
76.70%
77.25%
78.61%
80%
79%
82%
77.78%
77.42%
78.5%
83.87%
78.12%
73%
27%
46%
54%
57%
23.94%
26.03%
21.76%
25.42%
70.42%
69.96%
31.67%
7.02%
SMR Gender Pay Gap
Savills (UK) Limited Gender Pay Gap
An example of one of our programmes is our involvement in the Mentoring Circle, an external networking and training initiative which is helping women at the initial stages of their career to make contacts throughout the sector and receive targeted coaching. We work to provide tailored support for women, whether for example they are preparing for promotion, returning to work from maternity leave or dealing with the challenges of the menopause. The networking groups we are building provide a valuable community which enables women to benefit from each other's experiences to empower them to achieve their goals.
key
59.2%
Between April 2022 and February 2023, 59.2% of all new joiners were women
of all of those promoted in the business in 2022 were women up from 51% in 2021
Our gender pay data has been collated according to the requirements of the Equality Act 2020 (Gender Pay Gap information) Regulations 2017.
The table shows our latest gender pay figures for our Savills UK business which comprises Savills (UK) Limited and Savills Management Resources Limited (“SMR”). The latest gender pay figures for these entities can be accessed below.
our Ethnicity pay gap by numbers
Savills (UK) Limited Ethnicity Pay Gap
83.61%
Hourly rate
76.86%
white
95%
91%
9%
13%
87%
12%
88%
minority ethnic
ethnicity hourly pay gap
15.82%
22.65%
19.59%
16.66%
16.81%
ethnicity pay Gap bonus
58.50%
56.15%
56.84%
50%
43.61%
SMR Ethnicity Pay Gap
20%
2.59%
6.39%
3.95%
9.06%
ethnicity pay gap bonus
8.17%
27.35%
0%
8.63%
93%
7%
14%
86%
18%
pay Bonus
18.72%
24.17%
19.39%
20.74%
ethnicity pay bonus
66.80%
70.91%
50.00%
62.50%
We are voluntarily reporting our ethnicity pay gap data for the third year in a row because we believe in transparency and accountability.
Any White Background v Any Minority Ethnic Background inc Other
Any White Background
Any Minority Ethnic Background
81.40%
79.04%
83.03%
77.85%
NOTE: a total of c. 1200 relevant employees either prefer not to say or have left ethnicity blank, hence are excluded from the numbers.
NOTE: 850 relevant employees in the reporting period haven’t declared their ethnicity – c. 31% of relevant employees - 19 prefer not to say leaving 831 not declared.
We need to continue to coach and train our people to have the confidence to advance their career journey. Our more focused and bespoke approach is already having a positive impact at this early stage and we will continue to identify and form powerful relationships with organisations like We Rise In, who provide leadership training and networking opportunities to our minority ethnic employees. We’ve also seen increased representation in the lower quartile which is down to our considerable investment in our work experience and schools outreach programme support by Career Ready, our university outreach and newest relationship with Cambridge African Caribbean Society and, widening access to the real estate industry through apprenticeships.
Raising awareness of the rewarding careers that people can have within real estate remains a key focus for us and this has resulted in significantly more interest in our graduate programme with 450% increase in applications from minority ethnic graduates since 2020. We are confident in the plan we have set out to close the pay gap with a focus on increasing representation at the senior level while making sure we remain committed to supporting and developing our minority ethnic employees in the right way and at all levels.
23%
of our applicants as of March 2022 are from an ethnic minority, up from 14% in April 2021
450%
increase in ethnic minority graduate scheme applicants from 2020 to 2023, increasing from 169 to 764
While we know there is still work to do, we are pleased with the progress we are making on our journey to be a business that fully represents UK society.
Career Insight Panel Event 2022
This year our data shows there has been a reduction across both the mean and median hourly and bonus pay gap. This has predominantly been driven by the increased representation of minority ethnic employees at the upper and upper middle quartiles which gives us confidence in the work we are doing around supporting and developing our employees.
The table shows our latest ethnicity pay figures for our Savills UK business which comprises Savills (UK) Limited and Savills Management Resources Limited (“SMR”). The latest ethnicity pay figures for these entities can be accessed below.
What you need to know
What is a pay gap report?
Pay gap reporting highlights the difference in average earnings between one group of employees against another group of employees. Currently, gender pay gap reporting is mandatory for employers with more than 250 staff. Savills has voluntarily published its ethnicity pay gap figures for three years as it believes in transparency and accountability.
The hourly rate data is based on all those employed and receiving pay at the snapshot date of 5 April 2022 and is taken from the April 2022 pay period. The bonus data is for all those employed at 5 April 2022 and is taken from the gender bonus pay period 1 May 2021 to 30 April 2022.
What date range does this pay gap report cover?
What legal entities are covered in our reporting?
We report Savills UK business holistically, and then (as per the Regulations) by distinct legal entity. This reporting best represents the makeup of the Savills UK business which is managed by our UK leadership team and board. Employees in the Savills Investment Management and Savills Plc, which are managed by separate management teams are not included in our analysis because they do not meet the minimum amount of employees in the UK that fall under the pay gap reporting requirements.
What is SMR and why have they been included this year?
SMR (“Savills Management Resources”) is our Facilities Management business which is a key part of UK Property Management business, but is a separate legal entity to Savills (UK) Limited. SMR, like the rest of Savills UK, is managed by our UK leadership team and board. We will include SMR going forward in our UK calculations to better reflect the makeup of our business in the UK and to be in line with how our peers report.
Has anything else changed in the way Savills calculated its pay gap figures?
The way we record figures around how the value of deferred share bonus award have been realised by employees has been adjusted. Previously, the value was divided by 12. In this report and going forwards we will divide the value realised over the number of years before shares vest, which is a more accurate representation of the benefit.
What is the difference between pay gap vs equal pay?
The pay gap shows the difference between the average earnings of one group of employees against another. The pay gap does not show differences in pay for employees doing equivalent jobs, which are paid equally within Savills regardless of gender or ethnicity.
What is MEAN pay gap?
The MEAN pay gap compares the average pay between one group of employees against the average pay of another group of employees in the business.
What is MEDIAN pay gap?
The MEDIAN pay gap compares the midpoint of pay between one group of employees against the midpoint of pay of another group of employees.
What are pay quartiles?
Pay quartiles show the percentage of full-pay of employees in four equal sized groups based on their hourly pay including all pay elements at the snapshot date of 5 April.
Why is Savills publishing its Ethnicity Pay Gap figures?
Savills has voluntarily published its ethnicity pay gap figures for three years in a row as it believes in transparency and accountability.
How many employees have disclosed their ethnicity data and why is this important?
Capturing ethnicity data is important to establish a baseline against which we can measure progress. Please see below the breakdown of employees who have disclosed their ethnicity data by entity. Savills (UK) Limited – 96% SMR – 65% Savills UK business – 85% We are working hard to improve these figures, particularly within SMR, where a lot of staff are based on site.
What does ‘Other’ mean and why is it included alongside the ethnicity data?
‘Other’ refers to those individuals who do not associate with being in the major ethnic minority groups, or from a White background. As this is a minority group we have included it within our ethnic minority dataset. We do not include those who have not declared their ethnic background or have stated `Prefer not to say’ in our ethnic minority dataset.
Does everyone at Savills receive a bonus?
No. Bonuses are discretionary and based on performance. The pay gap reporting data does not allow us to record pro-rata bonuses of part-time employees or those on maternity leave, which will impact the accuracy of the data. New joiners and leavers are not eligible for a bonus and, in addition, there are a number of other contractual factors that can affect the payment of a bonus. We do recognise we have a higher proportion of minority ethnic employees and women in non-fee paying roles, which tend to offer lower bonuses than fee-paying roles.
Why has the median bonus gap for the UK Businesses increased from 7.02% to 31.67%?
When the results of the two businesses are combined, the median reflects the relative performance of the UK businesses in 2021, when Savills UK delivered record results, meaning that higher median bonuses were paid by Savills UK, with the result that the overall median bonus gap is more closely aligned with the Savills UK median bonus gap. The median bonus pay gaps for the respective businesses were for Savills (UK) Limited effectively unchanged year on year at [77.78] (2021 : [77.42]) and for SMR, meaning that more women received a bonus than men, -4.82% (2021 : -1.85%).
