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A GENDER PAY GAP IS DIFFERENT FROM EQUAL PAY
- The gender pay gap is the difference (expressed as a percentage) between the average (mean) pay of male and female employees.
- Equal pay refers to the legal requirement that male and female employees who perform like work, is defined as work that is the same, similar, or work of equal value, must receive equal pay and benefits.
Merit Medical Gender Pay Gap Report Summary
SALARY PAY QUARTILES
The charts divide Merit’s entire workforce into four equal quartiles based on the salaries that are paid to these employees. These quartiles are then further broken down into the number and proportion, expressed as a percentage, of male and female employees within each quartile.
GENDER PAY GAP FINDINGS
Merit’s data shows that male and female employees are paid equally for equal roles, however the data indicates a gender pay gap. Merit’s gender pay gap stems from having more males in senior leadership roles.
The gender pay gap in part-time and temporary roles is primarily influenced by the different gender distributions in these categories rather than the pay rates themselves.
BONUS GENDER PAY GAP
The small percentage of employees (both male and female) who did not receive a bonus is attributed to their hire date based on the eligibility criteria outlined in the bonus scheme’s terms and conditions.
The gender bonus gap is due to fewer females’ employees in senior leadership roles. We acknowledge that this will take time to change but it continues to be a key focus for future succession planning and development in the business.
BENEFITS IN KIND (BIK)
A slightly higher percentage of female employees are receiving a BIK. This suggests that more women may be utilising the healthcare benefit compared to their male counterparts, despite both groups having equal entitlement to healthcare from the start of employment.
DIVERSITY AT MERIT
Merit is committed to recruiting and retaining diverse team members at all levels of the organization. Merit’s workforce is comprised of 51% female team members and 49% male members with a total of 36 different nationalities represented within the company. While we are proud of our progress, we recognize there is continued room for improvement.
ACTION PLAN TO ADDRESS GENDER PAY DISPARITY
Merit Medical Ireland is committed to reducing and subsequently closing, any identified gender pay disparity. To address these issues, it will take time and more understanding to identify the required actions.
In Ireland, there are several initiatives to help address gender pay disparity.
Talent Acquisition Strategies:
Merit is enhancing its talent acquisition strategies to address the gender pay gap by focusing on attracting and hiring diverse talent. By promoting diverse talent pipelines, Merit aims to build a more diverse workforce and reduce gender pay disparities over time.
Work-Life Balance Policies:
Merit is committed to fostering a supportive work environment through comprehensive work-life balance policies. These include flexible working arrangements to accommodate diverse employee needs, career break programs to support personal or professional development and various paid family leave options. These policies are designed to support employees at all stages of life, promote well-being, and enable career continuity, contributing to greater retention and equity in the workplace.
Diversity Awareness Program:
Merit has implemented a diversity awareness campaign and training to foster an inclusive and equitable workplace for all employees, including those from underrepresented groups and those who are neurodiverse. These initiatives aim to build knowledge, empathy, and provide strategies to support a diverse talent base.
Women’s Leadership Initiative (WLI):
Merit has established the Women’s Leadership Initiative (WLI), an employee-led affinity group dedicated to advancing women into leadership roles. WLI focuses on providing mentorship, networking opportunities, and leadership development programs to empower women across all levels of the organization. Through these efforts, WLI aims to create a more equitable pipeline for women in leadership and reduce gender disparities in senior roles.
Succession Planning & Targeted Development:
Merit has implemented structured succession planning and targeted development programs. These initiatives identify high-potential employees and provide tailored development opportunities, such as leadership training, mentorship programs, and stretch assignments. The program aims to ensure equitable access to career progression pathways, creating a diverse pipeline for leadership roles.
The report information has been calculated in accordance with the principles laid out in the Gender Pay Gap Information Act 2021. This analysis is based on the pay period in which the snapshot date is the 30th of June 2024. The median pay gap is also calculated by finding the exact middle point between the lowest and highest paid male and female employee. The gap is calculated looking across Merit Medical Ireland ltd entire workforce.