Achieving increased accuracy and insights in Gender & Ethnicity Pay Gap reporting
"We can now make faster, better decisions, and have a much happier HR team" - Sonia Jenkins, Head of Reward, Wellbeing and Inclusion
The Solution:

Schroders is a world-class, UK-listed asset manager operating from 38 locations worldwide and employing 5,000 people With expertise across public and private markets Schroders manage a portfolio of £731.6 billion in 2021.

Schroders pride themselves as being a “Best in Class” employer, and when it comes to regulations, will aim to go above and beyond to make sure that they aren’t just compliant, but are seen to be leading the way. Over the last few years, Gender & Ethnicity profiles have come under scrutiny, and Schroders aim to lead the way in regulatory compliance, driving internal visibility of
a) the progress towards the  organisational vision,
b) the impact of future hiring plans,
c) how they aim to shape this over time

Gender & Ethnicity reporting

The primary goal of ethnicity pay reporting is to encourage greater employer action and accountability on the gender and ethnic diversity of their workforce. Starting to tackle this now can drive real value for a company’s workforce and wider society. If the starting point is collecting data, the end point is not reporting, but acting on what this data tells you. Ultimately, gender and ethnicity pay gap analysis is a tool to help identify where actions will have the biggest impact in driving sustainable change in the diversity of an organisation. Key benefits of greater transparency include:

- Opening dialogue with employees to understanding areas you may not have previously addressed and improving employee engagement.

- Improving the call to action to tackle diversity and develop practical action plans for improvement

- Creating a baseline to benchmark current progress and drive continual improvement

- Demonstrating your action and commitment as an employer and brand to improving your approach to diversity and inclusion

Leveraging Anaplan to automate HR data collection, apply gap calculations and provide exec-level insights on gender & ethnicity pay gaps

Schroders leverages Anaplan across the HR function to drive a forward-thinking automation, analytics and scenario insights related to compensation, deferred compensation, Material Risk Taker regulatory reporting, and Gender and Ethnicity pay gap reporting. The scope of the Gender & Ethnicity solution includes:

- Collating and interrogating employee-based data across the company to provide near-live insight into the Gender & Ethnicity profiles across countries, functions and sub-functions, and ascertain how future joiners/leavers will impact these profiles

- Exec-level dashboard visibility on current position, and how future plans will impact both compliance, and whether these plans will be conducive to the business vision

- Standardised library of calculations in Anaplan, including Median percentiles Male:Female& Minority:Majority across all countries, functions and sub-functions and variance analysis between versions, or points in time.

A quick, iterative and collaborative implementation of 8 weeks

Having worked with Schroders as preferred implementation partner on the previous HR use case implementation, Fidenda supported Schroders design, develop, test and deploy the solution in an 8-week implementation, offering strategic HR insights:

- Significant streamlining of workload to be able to analyse the current Gender & Ethnicity profiles across all Functions/Sub-functions and Countries

- 1st time visibility of how “live” hiring decisions impact the business’ vision unlocking the ability to “course correct” throughout the year

Learn more about the benefits of choosing Fidenda, book a discovery call today.

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