Contributors
Colt’s commitment to diversity and inclusion remains unwavering. Over the past few years, we have made progress in reducing our gender pay gap. Between 2020 and 2023, Colt’s mean pay gap reduced by 11%, standing at 8% in April 2023.
We are proud of this achievement and the progress made in achieving a more gender-balanced workplace. Between 2023 and 2024, we improved the proportion of women and made improvements in representation in three out of four pay quartiles. Some notable initiatives include targeted recruitment efforts, mentoring circles and the networking and development opportunities provided by our Women+@Colt employee network.
However, the overall proportion of women in the upper pay quartile has fallen. The release of the Gender Pay Gap Report 2024 comes 18 months following the acquisition of Lumen EMEA, which was headquartered in the UK, with a majority UK workforce. We brought together two distinct organisations, including very different workforce compositions at senior level, which led to changes in the gender distribution in the upper quartile. This period of integration has presented both challenges and opportunities as we work to harmonise our operations and align our values.
Through this process, our dedication to closing the gender pay gap remains untiring and we have set clear targets and timelines for future improvements. Recognising the significance of diverse perspectives in driving creativity and growth, our organisation has long aimed to improve gender balance at senior levels. While progress has been made, we acknowledge that there is still much ground to cover. Our ongoing efforts to understand and address the needs of women in our workforce underscore our dedication to fostering an equitable environment for all.
Our action plan is designed to attract and retain talented women, foster an inclusive and equitable environment, and nurture inclusive leadership development. By prioritising these areas and through a data driven approach, we are committed to narrowing the gap. You can read more about our actions in our Gender Pay Gap Report 2024.
Download the Colt Gender Pay Gap Report 2024
Colt Technology Services acquired Lumen’s EMEA business in November 2023. Lumen Technologies UK Ltd (“Lumen UK”) is now a wholly owned subsidiary of the Colt group of companies. We continue to report on the Lumen UK pay gap while we undertake the integration of our two organisations.
