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Statement of commitment to equal opportunities

Gazprom Marketing and Trading is an equal opportunity employer and prohibits discrimination and harassment of any kind: GM&T is committed to the principle of equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment. All employment decisions at GM&T are based on business needs, job requirements and individual qualifications, without regard to age, disability, gender identity and/or expression, race, religion or belief, sex (including pregnancy), sexual orientation, marital, civil union or domestic partnership status, or any other status protected by the laws or regulations in the locations where we operate. GM&T will not tolerate discrimination or harassment based on any of these characteristics.

What is gender pay gap reporting?

From 6 April 2017 employers in Great Britain with more than 250 employees are required, by law, to publish figures annually regarding the gender pay gap on their website and on a government website. The law requires employers to publish this data in six different ways: the mean and median gender pay gaps, the mean and median gender bonus gaps, the proportion of men and women who receive bonuses and the number of men and women according to quartile pay bands. The government is recommending no more than a 5% differentiation across all sectors.
The gender pay gap shows the difference in the average earning between all men and women in an organisation. The government does not require employers to report on equal pay. Equal pay is the difference between the actual earning of men and women doing equal work. Gazprom Marketing & Trading is an equal pay employer.

Our pay gap data

At the time of data collection, in April 2020, the distribution of males to females was 66% male and 34% female in London. In Manchester it was 57% male and 43% female. The greater proportion of males to females will have an influence on both median and mean pay gap stats. The statistics on gender balance varies at different levels of the organisation and in different occupations, with a skew towards men being employed in roles that attract higher compensation. The gender pay gap percentages reported below show the complete gap we have between the averages of male versus female employees. Generally speaking, our gender pay gap has held steady versus the previous reporting period. Regrettably we have seen some increases in the gaps between the averages in London, although to some extent this was expected based on commercial performance. Bonus awards can show sizeable volatility between years based on individual and Company performance, this is most likely to be seen in revenue-generating (trading) roles where compensation is heavily weighted towards performance bonuses. In the current data the gap increases due to stronger Company performance during 2018 than the prior year. which meant that higher bonuses (than the prior reporting period) were paid to employees in revenue-generating (trading) roles. These roles tend to be occupied by men (this is an industry-wide tendency, far from unique to GM&T). We have also seen industry-wide wage inflation across the commodity trading profession, as competition for talent has heated up, which has exacerbated the challenge we face with some of our highest paid professions being typically occupied by men.

In our Manchester office, we have also seen a marginal widening of the gap in mean gender pay, and also an increase in our median gender pay, although the median gender pay gap in particular was already at a low level (7.7% when you exclude senior executive roles). However, we were encouraged to see that the gaps in our mean and median bonus pay had both decreased versus the previous reporting period, with the median bonus pay gap showing a substantial closure.

You can see our gender pay gap data for the last two reporting periods here.

GM&T Retail UK trading as Gazprom Energy

Click "Show" button for full GM&T Retail UK gender pay gap information
​2019 Data
Mean Gender Pay Gap​​
13.3%
 
Median Gender Pay gap
3.6%
 
Mean Bonus Gender Pay gap
62.8%
 
Median Bonus Pay gap
22.5%
 
     
     
Quartiles
% Male
%  Female
1 Lower Quartile
55.4%
44.6%
2 Lower Middle Quartile
55.4%
44.6%
3 Upper Middle Quartile
47.7%
52.3%
4 Top Quartile
63.6%
36.9%
     
% receiving Bonus
Male
Female
Bonus
64.1%
69.0%

2020 Data
Mean Gender Pay Gap​​
13.9%
 
Median Gender Pay gap
8.3%
 
Mean Bonus Gender Pay gap
59.1%
 
Median Bonus Pay gap
6.5%
 
     
     
Quartiles
% Male
%  Female
1 Lower Quartile
57.6%
42.4%
2 Lower Middle Quartile
50.0%
50.0%
3 Upper Middle Quartile
60.0%
40.0%
4 Top Quartile
61.5%
38.5%
     
% receiving Bonus
Male
Female
Bonus
71.3%
75.9%

* A mean is computed by adding up all the values and dividing that score by the number of values. The mean is used for normal distributions. The mean is not a robust tool since it is largely influenced by outliers.
* The median is the number found at the exact middle of the set of values. The median is better suited for skewed distributions to derive at central tendency
 
GM&T Ltd (UK)
Click "Show" button for full GM&T Ltd (UK) gender pay gap information   
​2019 Data

Mean Gender Pay Gap
24.9%
 
Median Gender Pay gap
23.2%
 
Mean Bonus Gender Pay gap
72.3%
 
Median Bonus Pay gap
30.1%
 
 
 
 
 
 
 
Quartiles
% Male
%  Female
1 Lower Quartile
51.1%
47.9%
2 Lower Middle Quartile
59.4%
40.6%
3 Upper Middle Quartile
71.9%
28.1%
4 Top Quartile
82.3%
17.7%
     
% receiving Bonus
Male
Female
Bonus
74.5%
73.6%

​2020 Data

Mean Gender Pay Gap
26.6%
 
Median Gender Pay gap
24.2%
 
Mean Bonus Gender Pay gap
80.5%
 
Median Bonus Pay gap
53.8%
 

   
 
 
 
Quartiles
% Male
%  Female
1 Lower Quartile
50.0%
50.0%
2 Lower Middle Quartile
60.0%
40.0%
3 Upper Middle Quartile
70.5%
29.5%
4 Upper Quartile
84.2%
15.8%
     
% receiving Bonus
Male
Female
Bonus
81.7%
82.0%​


​* A mean is computed by adding up all the values and dividing that score by the number of values. The mean is used for normal distributions. The mean is not a robust tool since it is largely influenced by outliers.
* The median is the number found at the exact middle of the set of values. The median is better suited for skewed distributions to derive at central tendency

Taking action

It is important to remember that none of the data is showing comparisons of what male and female employees are being paid for doing the same role. Pay decisions are made based on several factors including performance, responsibilities, benchmark data and internal comparisons. We are confident that where any differences exist, these are not based on gender. Therefore, the publication of gender pay gap does not indicate a reason for concern by itself. Whilst we are not within the Government’s ideal range of no more than 5% at present, we are taking a number of actions, as outlined below, to reduce this gap.

First, we will be undertaking an internal review of equal pay in Q4 of 2021s to ensure that we do not have any issues with equal pay for equal roles. We benchmark compensation for all our roles with external compensation specialists and all jobs within GM&T group are graded against an externally validated role grading system. This helps us ensure that we are comparing apples with apples when we are looking at equal pay.

Representation of women in Senior positions and in all career paths is not only important to close our gender pay gap, but because we believe that creating a diverse and inclusive environment where every employees contribution is valued enhances our business performance. This is why it is important to look at our recruitment and retention practices to ensure that GM&T is a place where women can build and progress their careers in all areas of the business.

At GM&T Group we apply equal opportunities to all areas of people management. We continue to promote our Equality, Diversity and Inclusion policy, to clearly outline what we stand for as an organisation, and we devote a significant portion of our Learning & Development budget to activities which support the development of the culture we want to create. This has led to learning and development opportunities for all people managers, who are key to making hiring decisions, as well as programmes geared towards ED&I in our all employee wellbeing programme.

Currently the percentage of female employees in senior positions at GM&T is noticeably lower than males and we recognise this lack of diversity. However, this does not mean that women have less opportunity to be hired, developed or promoted and as an equal opportunities employer, we endeavour for equality and fairness in all of our people management processes. As an aide to this in relation to hiring for example, we make use of a behavioural competency interview tool and training for all hiring managers to use, to ensure a consistent and objective approach to rating all candidates and therefore hiring based on facts and objective judgements only. Another key initiative is for employees to undertake unconscious bias training. Unconscious bias refers to the stereotypes, both negative and positive, that exist in our subconscious and affect our behaviour. By implementing this type of training, your awareness of bias is raised and therefore future decisions are more likely made in an unbiased way. Many of our hiring managers have already undertaken these training modules in the last few years. In 2022 we will be continuing to offer this to new managers and giving refreshers to those who have completed the training in the past.

GM&T cares about its employees and continues to support the overall health of its employees through its wellbeing strategy. The premise of GM&T’s wellbeing efforts is that employees cannot separate their work life entirely from other aspects of their lives, and this has been brought sharply into focus during the COVID-19 pandemic. Wellbeing at GM&T is about us providing services and support intended to promote the health and balance of employees in various aspects of their lives - this includes but is not limited to, our commitment to flexible and agile working, work/life balance, supporting good mental health and creating an environment of social inclusion and physical health.​

Job evaluation

In 2018 we began a revision of the job evaluation framework for GM&T Group. A job evaluation is a systematic way of determining the value/worth of a job in relation to other jobs in an organisation. It creates a clear and robust way to compare jobs, to assess their relative worth for the purpose of establishing a rational pay and banding structure.​​​