We're committed to closing the Gender Pay Gap
We're thrilled to have significantly reduced our gender pay gap. We're committed to closing it entirely by 2030, driving a fairer future for all.
Our commitment
Target welcomes the opportunity to report our Gender Pay Gap figures and to be transparent about our gender pay difference. As a Company, we continue to take positive actions to reduce this gap and ensure opportunities for all colleagues.
Our progress
We've achieved a significant milestone in our journey towards equality: achieving gender pay parity across our senior leadership team. Our overall gender pay gap has also been reduced to its lowest level ever reported in 2024. This achievement reflects our unwavering commitment to creating a fair and inclusive workplace where everyone has equal opportunities to succeed.
19.58%
Mean Gender Pay Gap
Finance and Insurance industry mean average is 29.70%*
19.70%
Median Gender Pay Gap
Finance and Insurance industry median average is 30.50%*
Our ambition
Our aim is to reduce our Gender Pay Gap and we have formulated a multi-faceted approach to allow us to build on and work towards fulfilling this goal.
Our results have been calculated using the required snapshot date of 5th April 2024 and have been independently verified.
While we are incredibly proud to release these fantastic results, we have no intention of resting on our laurels. We remain committed to reducing our gender pay gap, with the eventual aim of eliminating the gap altogether. As a result, we intend to go even further through our Equality Diversity and Inclusion (DE&I) strategy, and we’re set to launch a number of internal strategies to increase mentorship and career advancement. At the same time, we will continue to identify and address pay discrepancies in our next review.
Our further plans to close the gap
We remain committed to implementing policies and resources that advance equality, ensuring a fair and inclusive environment for all colleagues.
Enhanced senior leadership diversity
We have significantly increased female representation in senior management, rising from 30% in 2020 to 41% today.
Support for female talent
We actively support female applicants for both internal and external vacancies, fostering opportunities for growth and development.
Unbiased hiring practices
To minimise unconscious bias, we include an impartial colleague on all interview panels, ensuring fair and equitable hiring processes.
Empowering colleagues
Through our Women in Target programme, we empower our female colleagues to reach their full potential, contributing to a more diverse and vibrant community.
Leadership development
We've rolled out a company-wide leadership and mentoring program, providing opportunities for professional growth and skill development.
Flexible work arrangements
We offer a hybrid work model that supports all colleagues and parents and carers, helping retain top talent and promote a healthy work-life balance for all.
Female leaders at Target
Our senior leadership and executive committee play a pivotal role in shaping the company's strategic direction and vision.
This team includes key female leaders such as Katherine Bowen, our award-winning Chief Financial Officer, Charlotte Harrison, who serves as Head of Business Strategy, and Katie Pender, who was recently appointed as Chief Operating Officer.
Katie's appointment recognises her significant contributions as managing director of Elderbridge, a regulated lender and subsidiary of Target Group, as well as her instrumental role in developing our innovative Mortgage Hub origination solution.
This leadership structure not only reflects our commitment to diversity but also underscores our focus on innovation and customer-centric approaches.
I'm deeply proud to work for such an innovative and progressive company, alongside a talented team and brilliant female colleagues. A diverse team brings diverse thought, skills, and leadership, delivering valuable approaches across the business. To attract and retain top talent, it's critical that all colleagues are recognised and rewarded fairly.
Gender Pay Gap Report 2024
Get the full picture behind our gender pay gap progress in our latest report.
