Within Our Organisation
Organisations with 250 or more employees must publish specific data annually about their gender pay gap.
At April 2024, CMI’s Board of Trustees comprised 6 women and 6 men, of which 1 woman and 1 man were from ethnically diverse backgrounds. CMI’s senior management team at April 2024 comprised 60% women and 40% men, of which 12% were from ethnically diverse backgrounds.
Mean & Median
The mean figure is the difference between the average of men’s and women’s pay or bonuses. The median figure is the difference between the midpoints in the ranges of men’s and women’s pay or bonuses.
Gender Pay Gap
As an organisation with 250 or more employees at 5 April 2024, CMI has disclosed its gender pay gap below. We support the campaign to extend mandatory pay gap reporting beyond gender to include ethnicity, as we believe what gets measured gets managed and holds organisations to account.Why Have These Pay Gaps Arisen and What Are We Doing About Them?
CMI’s workforce is predominantly female (65% 2023:66%), and this has the largest impact on pay gap data. This gender ratio is particularly apparent in the bottom quartiles of the organisation, i.e. CMI has more women than men in its lower pay bands, which has a direct impact on the mean and median pay gaps.Why Have These Pay Gaps Arisen and What Are We Doing About Them?
Commitment To Equal Pay
CMI’s median gender pay gap has reduced to 4% from 6% over 2023/24. Every three years CMI undertakes an external salary benchmarking exercise on every job description within the organisation. As a result, in January 2023 CMI aligned all salaries across the organisation to the median benchmark for a role effective 1 April 2023. This exercise ensures that periodically we can be confident that every woman and man who have the same job description at CMI are paid equally. This is an important step to ensure equality, but it does not impact the gender pay gap calculations in a significant way.Steps To Close CMI's Gender Pay Gap
In 2021 CMI set a target of a 0% median gender pay gap by 31 March 2024. CMI has not yet achieved this target, and continues to work towards it through the use of balanced shortlists for roles, and transparency of data by quartile across the organisation. The gap will be most effectively closed by hiring more males in the lower quartiles of the organisation, and this is subject to market supply and skills and experience of candidates for roles. Providing a flexible working environment and increasing the number of part time roles across CMI may also attract more skilled women to return to the workplace in the higher quartiles of the organisation.
Ethnicity and Ethnicity Pay Gap
Ethnicity and Ethnicity Pay Gap
We are choosing to voluntarily disclose our ethnicity pay gap at 5 April 2024.
CMI’s median ethnicity pay gap is negative, which means that the median salary for staff from ethnically diverse backgrounds is higher than the median salary for white colleagues. The movements between 2023 and 2024 reflect an increase of colleagues from an ethnically diverse background across 3 out of 4 quartiles; this is particularly evident in quartile 4. CMI is committed to increasing the proportion of colleagues from ethnically diverse backgrounds. In 2022, CMI set a target of 15% of staff being from ethnically diverse backgrounds by 31 March 2024.
At April 2024 17.9% of staff were from ethnically diverse backgrounds. As we continue to grow we will look to increase this proportion and work to maintain our target of 18% by March 2025.
Support For Our Membership Community and The Public
CMI’s ‘Everyone Economy’ report looked at the barriers that stop diverse talent from progressing in the workplace and the skills, behaviours and policies that managers need to know to tear these barriers down. Following on from this, CMI continues to support its membership community and the wider public through articles, thought pieces, webinars and events.
