Gender Pay Report - TUV SUD Limited

WHAT IS THE GENDER PAY GAP?

From 6 April 2017, companies with more than 250 employees were required by law each year to publish their gender pay information, covering pay and bonuses, showing the overall difference between the earnings of men and women.  Gender pay differs from equal pay as it is concerned with the differences in pay between men and women irrespective of their role; whereas, equal pay deals with the pay differences between men and women who carry out the same or similar jobs.

The TÜV SÜD Group does not tolerate discrimination and is committed to fairness, respect, inclusion and equal opportunity and it recognises the importance of diversity and inclusion to its success.  The following report provides information on the gender pay gap for TUV SUD Limited, provides an understanding of the gap and, what we are doing to address it.

WHAT IS OUR GENDER PAY GAP?

The table below shows our headline median and mean gender pay and bonus pay gap based on hourly rates of pay at the snapshot date of 5 April 2021, and bonuses paid in the year ending 5 April 2021.

WHY DO WE HAVE A GENDER PAY GAP?

• Like many other companies within the engineering, science and construction sectors, we have more males in senior positions than women. Women make up 27.29% of our workforce (compared to 23% in 2019 and 26% in 2020), and we continue to note a positive trend in the number of females in the upper pay quartile (from 8.2% in 2017, to 16.2% in 2021).
• We were encouraged that the mean gender pay gap had reduced from 29.3% in 2017 to 20.1% 2021.
• The mean gender bonus gap has reduced from 54.4% in 2017 to -391.1% in 2021 and the proportion of females receiving a bonus payment has increased from 10.4% to 16.4% over the same period. However, these figures are recognised as being distorted due to a change in bonus period/payment policy.

TUV SUD Limited is committed to further reducing its gender pay gap and is progressing several actions:

• Engaging with TÜV SÜD Global initiatives to support our global strategic aim of fostering a culture of diversity and inclusion.
• Providing recruitment, equality and diversity and unconscious bias training.
• Engaging with local educational institutions to promote careers in our core disciplines.
• Promoting opportunities for flexible working to potential and current employees.

Declaration

I confirm that the gender pay gap calculations for TUV SUD Limited are accurate and meet the requirements of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.

Chris Guy

CEO, UK & Ireland

April 2022