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Gender Pay Gap Reporting 2022 1 Diversity & inclusion overview At Mercury, we want to create a workplace that is safe and inclusive, where our employees feel engaged and motivated to reach their full potential. We want to be a company that celebrates people from different backgrounds, have diverse views, experiences and capability to a create workplace where our people grow and thrive, leading to better business performance. Our commitment to inclusion and diversity starts with our Inclusion and Diversity Policy and framework. A copy of this policy is available in the Corporate Governance section of our website. Mercury’s approach to inclusion and diversity focuses on gender, age, ethnicity, sexual orientation, disability and flexibility. Activity is aligned to the following principles:
increasing the diversity of our workforce at senior levels creating a flexible and inclusive work environment that values differences and enhances business outcomes harnessing diversity of thought and capitalising on individual differences promoting leadership behaviours that reflect our belief in the value of inclusion and diversity attracting and retaining a talented workforce through increasing the diversity of the candidate pool and maintaining a recruitment strategy that is attractive to all candidates Increasing representation of ethnicities representative of New Zealand communities (Māori, Pasifika and Asian) in positions of leadership is one of our inclusion and diversity priorities.
Our progress against inclusion and diversity goals is measured against objectives set by the Board. These objectives are made up of a mixture of targets and benchmarks. Generally, targets exist where we believe that achieving diversity in that area is aided by us working towards a specific measure. In other areas, we use benchmarks where comparison against those identified data points will help inform our view of how our work towards diversity in that area is progressing. We have particularly targets with regards to gender in leadership roles and in pay equality. Area of focus
Objective
Gender
Improve representation of women in leadership at all levels
Gender proportions for leadership at all levels including Level 4 & 5 leaders, senior leaders, EMT and the Board
Improve representation of women across the business Ensure that everyone is rewarded fairly for their work regardless of gender
June 2021 Target Actual Leaders EMT Board All emp.
34% .>36% >36% 43%
32% 43% 25% 38%
Target June 2022 35% >40% >40% 45%
Target June 2023 35% >40% >40% 45%
Pay equity ratio. We will compare males and female wages within each salary band to derive a ratio of pay given for similar sized roles
As at June 2021, Pay Equity Ratio = 97.2%
Pay Gender Gap. We compare median hourly rates between males and females
As at February 2022, Pay Gender Gap = 26.1%
Gender Pay Gap Reporting | 28 February 2022 | Page 1 of 2
2 Understanding gender equality Mercury has reported on Diversity & Inclusion since 2014 and have been reporting on gender pay equity since 2019. We are still building our understanding of gender pay gap, while working hard to build greater gender equity in parallel. Mercury believes there should be a more open discussion about gender pay equity, which is why Mercury publishes its data publicly.
3 What are we doing to address our gender pay gap? Mercury has two key areas of focus for gender equity, which we believe will in turn help us address our gender pay gap: 1) 2)
Improve representation of women at senior leadership levels. Ensure that everyone is rewarded fairly for their work, regardless of gender
What this doesn’t address are the broader systemic issues that we believe need to be navigated. This includes supporting a more gender balanced representation of STEM subjects at school, which has historically favoured males. This has largely shaped traditional male-focused industries, including the electricity sector. There are things Mercury are doing to increase women in senior leadership and engineering roles. These include:
Supporting participation in the Global Women’s leadership programme Providing a range of mentoring and leadership programmes internally Members of Champions for Change, which is about working together with other large organisations to advance women in the workplace
Forming mixed panels for recruitment of senior and customer-focused roles as well as holding workshops to educate leaders to be conscious of gender and diversity when recruiting Working in partnership with Auckland University to encourage women into engineering Supportive of WING (Women In Geothermal), which brings together women in geothermal to share experiences and focus on developing women leaders
As well as working to address the gender pay gap, our ongoing focus will be to understand pay gaps for different ethnic groups.
Gender Pay Gap Reporting | 28 February 2022 | Page 2 of 2