Gender Pay Gap Report 2020

Gender Pay Gap Report 2020

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Iron Mountain is a global business dedicated to storing, protecting and managing information and assets

Iron Mountain has two UK employing entities, Iron Mountain (UK) PLC and Iron Mountain (UK) Services Limited which are required to report their gender pay gaps. Since we operate as one organisation from an employee inclusion and engagement perspective, just as for 2019’s reporting, we have provided combined UK Group figures, as well as for each employing entity. The table below shows the make-up of each employing entity:

COMPANY F M TOTAL
Iron Mountain (UK) PLC 166 232 398
Iron Mountain (UK) Services Limited 196 713 909

Inclusion at Iron Mountain is about creating an environment of involvement, respect and connection, one where we listen to, and value, everyone’s ideas, backgrounds and perspectives This improves how we perform as individuals and teams, and ultimately helps us succeed as an organisation. Inclusion is one of Iron Mountain’s core values, and our aim is to provide a safe, inclusive workplace in which everyone can thrive, feels valued and is inspired to build customer value and contribute to our Company’s success.

What we did in 2020/2021

Women@IM

women at IM diversity logo

Women@IM, is one of the Company’s global Employee Resource Groups (ERGs) continues to grow. The purpose of the group was re-evaluated during 2019, and with that came a new Vision and Mission.

During 2020 Women@IM held several well attended Global Professional Development on-line events, which included subject areas such as Presentation Skills, Using Emotional Intelligence to Build Relationships and Your Career, Using Setbacks to Build Resilience and Succeed, and Activating Your Network.

A new quarterly newsletter “IM Talkback” was launched in 2021 and this encapsulates all of the events, and progress our teams have been making within the Employee Resource Group.

There is a dedicated internal social media page for the Women@IM resource group. Senior role opportunities are highlighted on this platform, and podcasts are shared on a regular basis. For Mental Health Awareness Month in 2021, employees were invited by the group to attend various webinars on Supporting You and Your Family’s Mental Health.

We are looking to introduce a Women@IM group dedicated to EMEA in 2021.

International Women’s Day

International Women’s day was embraced throughout Iron Mountain, and was seen as an opportunity to drive positive change. There were many posts of our employees showing support with the #eachforequal (2020) and #choosetochallenge (2021) on both our internal and external social media platforms, led by the Company’s President and CEO.

Events took place in 55 locations over 28 countries, which provided valuable information on the Global and UK gender parity progress made to date, and the current gaps that still exist. In the UK for 2021 several virtual discussions took place with senior leaders internally, and an external speaker was also appointed. A mentoring scheme for women was also launched on this day, which has been well received.

Phil Shepley, (Vice President & General Manager – Northern Europe) said:

“Gender equality should be a given but in too many places and situations it isn't. Working for an organisation that is innovative and enterprising while being responsible and acting with good governance, we have an opportunity to show how a truly diverse team succeeds and how equality in our leadership teams and through our organisation drives better results.

So I will challenge myself and others to call out gender bias and stereotypes and will work to correct the imbalance we see in work and society today because it’s the right thing to do. And the right thing to do is always good for business."

We will be proactively continuing on our journey of eliminating barriers to allow our employees to fulfill their potential.

Pay and Bonus Gap Data

The gender pay gap shows the difference in average hourly pay and annual bonus pay between women and men at Iron Mountain. It is different to equal pay, which looks at pay differences between men and women who carry out the same jobs, similar jobs or work of equal value. The gender pay gap shows the differences in the average pay between men and women regardless of role.

We are very pleased that our median UK Group gender pay gap has improved since the last time of reporting with both the pay and bonus gaps being negative (in favour of women)

Our overall progress at a UK Group level does not mean we are complacent. The statistics highlight several areas of gender imbalance, which we are working hard to address.

PAY AND BONUS GAP MEAN MEDIAN
Gender Pay Gap -5.41 -2.05
Bonus Pay Gap -15 -22.3
gender pay gap report chart
gender pay gap report chart

Iron Mountain (UK) PLC

Pay and Bonus Gap Mean Median
Gender Pay Gap 22.75% 33.48%
Bonus Pay Gap 38.9% 58.2%
gender pay gap report
gender pay gap report

Iron Mountain (UK) Services Limited

Pay and Bonus Gap     Mean Median
Gender Pay Gap 1.39% 1.00%
Bonus Pay Gap -3.1% 0%
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gender-pay-gap-report

Employees by Pay Quartile

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gender-pay-gap-report
gender-pay-gap-report

The majority of our leadership, support functions and professional services sit within Iron Mountain (UK) PLC. Within Iron Mountain (UK) PLC there are more men in senior roles and more women employed in junior level roles. We believe that this workforce structure is the main explanation for our pay gap in this entity. The overall reduction in both bonus and pay gap demonstrate progress in our attempts to promote more senior women to the organisation.

Iron Mountain (UK) Services Limited has over three times as many employees as Iron Mountain (UK) PLC and this is where the majority of our physical records storage and data management solutions roles sit. A very small number of high bonus values again this year has resulted in a significant, negative mean bonus and pay gap.

Closing Remarks

We will continue to address the gender pay gap at Iron Mountain as we recognise that improvement is needed.

In 2021, we pledge to continue to identify opportunities and implement strategies and initiatives that promote gender equality within Iron Mountain.

The data in this report has been prepared according to the requirements of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2020.