Background
Kyndryl has commissioned an independent consultancy to calculate and summarise its gender pay gap reporting calculations for the period ending April 5, 2022, as mandated by the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017. For legal entities with greater than 250 employees, there is a requirement to disclose this information on or before April 4, 2023. Kyndryl has one legal entity in the UK with over 250 employees so therefore is required to disclose its results prior to this deadline.
What is Gender Pay?
Gender Pay is not the same as Equal Pay.
The Gender Pay Gap is intended to measure diversity within an organisation. It shows the gap between the mean and median earnings of females and the mean and median earnings of males across the whole company and does not consider employee levels or job type. Organisations with more males in senior posts and more females in junior posts will typically have a positive gender pay gap (i.e., where males are paid more than females).
Equal Pay is measured by comparing the pay for employees carrying out the same or similar work, or work of equal value, considering level and job type. Organisations may differentiate pay for similar work so long as the criteria do not discriminate based on factors such as gender, ethnicity, age, sexual orientation, or disability. These factors may include individual performance, market premiums for specialist roles in high demand, and skillset / expertise required in the role.
Kyndryl is a new company, established via a corporate spin off in September 2021. As such this is the first Gender Pay Gap Report Kyndryl has published. The results consider a partial year, covering the period of September 1, 2021, to April 5, 2022.
