Rightmove plans to reverse the male-dominated leadership culture

Property website Rightmove has pledged to take action to address the under-representation of women in its leadership. Despite 51% of its workforce being female, just 24% of senior managers in the company are women, according to new figures published in its annual report. This has resulted in a gender pay gap, and the report notes that the the technology sector in general suffers from a problem of gender imbalance. The company has set out plans including new flexible working arrangements and is aiming for more than 33% of its leadership team to be women by 2020.

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Rightmove has told its shareholders that it expects further growth this year, with estate agents continuing to increase their spend.

In its newly issued annual report for last year – when revenue and underlying profit were both up 11% – the portal says income per advertiser is still rising, with traffic to Rightmove growing for a 16th consecutive year.

Although the report warns that low housing transactions could mean a reduction in the number of agents, and also carries the risk of a reduced advertising spend by surviving agents, it suggests that other advertising mediums would be most affected.

The report also shows how male dominated Rightmove is in its management, despite 51% of its workforce being female. However, just 24% of senior managers are women.

The annual report admits that women are under-represented in the higher paid senior management sector, but also says that men are under-represented in the “customer experience team”.

The fact that so fewer women are seniors has led to a gender pay gap, says Rightmove, which stresses that technology “is a sector blighted by a lack of gender diversity, but accepting the status quo is not in our DNA”.

The report sets out steps to reverse the male-dominated leadership culture, including new flexible working relationships. It plans to exceed a target of 33% of the leadership team being female by 2020.

The annual report also sets out pay arrangements for its top people, saying that if CEO Peter Brooks-Johnson exceeds all targets this year, he will earn over £2m.

However, this would not be unusual: both his predecessors, Nick McKittrick, who retired last year aged under 50, and Ed Williams who stepped down in 2013, earned more than this. Williams earned almost £5m in 2011, says the annual report.

Non-executive directors of Rightmove will earn upwards of £50,000, with chairman Scott Forbes due to get £170,000. Their pay is unchanged from last year.

Rightmove’s AGM, where shareholders will be asked to approve the remuneration packages, is on May 4.