Gender Pay Gap Report
Commitment to an Inclusive Workplace:
We are delighted to publish our third Gender Pay Gap report. An inclusive workplace continues to be a key driver for business performance at Valeo Foods Ireland, and our People & Culture strategy and action plan is supporting and enabling this progress. Our Action Plan focusses on all aspects of the employee lifecycle, to attract, retain and develop all genders in our workforce.
Our Gender Pay Gap for 2024 is 3.41% which compares favourably against a national average in 2023 of 9%. While there is a slight increase on 2023 (2.75%) this result is a testament to the ongoing ambition and action planning within our departments and teams. Our leadership and executive team remain committed to accelerating our actions, measuring and tracking our progress, and striving for greater gender balance and equity in the workplace.
Our Action Plan from 2024, and progress against it, is as follows:
1. Leadership Gender Targets
In 2024 in line with our Valeo Foods Group ESG strategy and to strengthen gender diversity and work towards equal gender representation across executive and senior management levels in the business we have set and published ambitious targets for the next 5 years.
Our ambition is to have 43% gender balance in our leadership positions by FY29. Key appointments on our Executive Leadership team in FY25 have set this journey on its way – senior leadership gender balance is currently 25%, an improvement of 12 percentage points on last year.
2. Promoting a positive work environment for all, through new and existing policies.
Our policies continue to promote inclusion, work life balance and a culture where employees are enabled to perform at their best. In 2024 Valeo Foods Group Diversity Equality & Inclusion Policy was updated and cascaded through our business, again underpinning our ambition to create an inclusive culture, that gives everyone the freedom to succeed.
3. Ensuring all colleagues have equal access to opportunities and development supports.
Employee development continues to be a key business enabler, we continue to understand and respond to the development needs of our employees ensuring that they have access to learning opportunities that allow them to perform at their best.
LinkedIn Learning is an inclusive platform and continues to be leveraged by many of our employees. Our extended leadership team completed Negotiation skills training, a management development programme and some members participated in the Leadership for Engagement & Performance Programme (LEAP).
4. Developing a career and reward framework that enables colleague promotion and succession.
Our 2024 talent and succession planning process was extended gaining deeper organisational insights into the dept of gender diversity for key talent development pipelines.
A lot of progress has been made to identify the opportunities to meet our 5 year ambition, our next steps will be to engage the organisation on this opportunity and action planning preparing frameworks for career journeys that help colleagues to understand and progress accordingly.
The work on our Reward framework has commenced and we hope to have this work finalised within the next calendar year.
5. Focus on creating a culture of inclusivity
Our partnership with the LEAD Network an organisation that aims to support achieving gender balance in the FMCG industry. Our extended leadership team participated on development programmes and industry events that are aimed to develop and promote their inclusive leadership impact both internally, and across our industry.
Throughout 2024 we also partnered with Platform 55 a platform and resource based organisation who support employees and workplaces to create the necessary balance between home and work, a key driver to our gender equality commitment.
We remain very committed to the value that diversity brings and believe our workforce should be reflective of the communities in which we work, and the consumers that enjoy our products every day. While we continue to progress towards the representation of women in the organisation, we are also equally committed to a broader inclusion agenda.
In line with the Gender Pay Gap Information Act 2021, this Gender Pay Gap Report outlines the Gender Pay Gap for Valeo Foods Ireland, the reasons for the gap, and the action plan to address the gaps. The snapshot date was the 30th June 2024.
| Item | 2023 | 2024 |
|---|---|---|
| Gender Pay Gap Mean | 2.75% | 3.41% |
| Gender Pay Gap Median | -6.47% | -4.90% |
| Gender Pay Gap Part Time Mean | 6.38% | 18.52% |
| Gender Pay Gap Part Time Median | -46.23% | -8.76% |
| Gender Pay Gap Temp Contractor Mean | 22.12% | -29.13% |
| Gender Pay Gap Temp Contractor Median | 22.12% | -44.74% |
| Bonus Pay Gap Mean | 34.30% | 48.17% |
| Bonus Pay Gap Median | 38.28% | 32.73% |
| Bonus Pay Proportion Male | 67.08% | 63.64% |
| Bonus Pay Proportion Female | 74.10% | 72.46% |
| BIK Pay Proportion Male | 28.31% | 26.96% |
| BIK Pay Proportion Female | 8.63% | 8.70% |
| Upper Quartile Male | 68.10% | 65.79% |
| Upper Quartile Female | 31.90% | 34.21% |
| Upper-Middle Quartile Male | 68.10% | 70.18% |
| Upper-Middle Quartile Female | 31.90% | 29.82% |
| Lower-Middle Quartile Male | 70.69% | 65.79% |
| Lower-Middle Quartile Female | 29.31% | 34.21% |
| Lower Quartile Male | 73.28% | 77.39% |
| Lower Quartile Female | 26.72% | 22.61% |
We believe the reason for the Gender Pay Gap is due to having more males in the workforce than females, in line with the manufacturing and logistics industry, and our professional mix of occupations in the workforce.
