Corporate Sustainability

E&P is committed to fostering a culture that embraces and promotes diversity, inclusion and equity in our workplace.  We know that this focus will result in an engaged and productive workforce who feel recognised and respected.  Our approach fosters greater innovation, creativity, and diversity of thought, better decision making, better business outcomes and improved organisational performance.

Our goal is to have a workforce that reflects the community in which we work and enable our employees to bring their full selves to work.  This commitment is integral to our value of Respect & Inclusion and is demonstrated through harnessing the diverse perspectives of our people.

WGEA calculates a gender pay gap based on the difference between the arithmetic average of men’s total compensation and the average of women’s total compensation, including superannuation, overtime, bonuses, and other additional payments.  The WGEA calculation is undertaken without consideration given to roles that are like for like between genders.

E&P’s workforce is made up of 36% female employees with too few females in senior leadership roles which impacts the median gender pay gap reported to WGEA.  Regardless, E&P has realised year-on-year improvement in both the median base salary and median total remuneration when comparing male and female salaries.  This improvement is as a result of the initiatives we have in place focusing on gender hiring, female development, and the targets implemented for revenue generating females.

E&P Financial Group conducts annual like for like gender pay analysis of fixed reward (excluding performance based bonuses).  The analysis is conducted against same or similar roles, by level, to contextualise the data and to ensure men and women doing the same work, at the same level, receive the same base pay inclusive of superannuation.  When calculating our like for like gender pay gap in our revenue generating businesses, our gender pay gap is 3.7% in favour of males, which is a significant improvement from 10.8% the previous year.  This gap is driven by differences in experience and nuanced expertise, even when working in similar roles, and the improvement demonstrates concentrated efforts to expand female capability across the business.

We believe conducting a like for like gender pay analysis ensures that men and women doing the same work receive the same base pay.  E&P analysis excludes bonuses, which are performance based, irrespective of gender.  We ensure transparency by sharing our like for like analysis with our staff internally.

E&P is committed to gender equality and improving our female representation in our business, particularly at leadership level, and across the industry.  We have set specific measurable targets that will drive change including representation in our revenue generating businesses, women in leadership, intern and graduate recruitment, and like for like gender pay.  These targets are supported by practical internal initiatives overseen by our Diversity Working Group and owned by our senior leadership team.  At an industry level we partner with Future Impact, an industry organisation that strives to improve female participation in Wealth by mentoring females studying a related discipline at university.