UK Gender Pay Gap Report WeWork 2024

At WeWork, we strive to be a place where every individual is given the opportunity to advance through a meaningful and rewarding career. We are committed to ensuring that all employees have the same access to senior roles and gender pay gap data helps us understand where we can identify areas to improve.

Overview

This report provides our Gender Pay Gap results for 2024 for WeWork International Limited, which employs our UK-based HQ teams, including leadership supporting the International region.

Measuring the pay gap

The GPG is the difference between men’s and women’s average pay across an organization, expressed as a percentage. It is determined by comparing the average pay for all men with the average pay for all women in an organization, without accounting for different roles, tenure, location or performance ratings. A positive percentage indicates the extent to which women earn, on average, less per hour than their male counterparts and a negative percentage indicates the extent to which women earn, on average, more per hour than their male counterparts. The closer the percentage is to zero, the smaller the pay or bonus gap.

The UK Government outlines its employer’s reporting guidance here.

The gender pay gap is distinct from equal pay, which refers to paying men and women equally for doing the same or equivalent work, and is a legal requirement in the UK.

Our Results for 2024

Our results continue to be impacted by the fact that some of our longest tenured and most senior roles were occupied by men during this reporting period.

Understanding our Gender Pay Gap

WeWork International Limited 

Gender Pay Gap

• Our mean gender pay gap of 14.1% is a significant decrease compared to last year’s figure 35.5% and our previous figures of 34.9% in 2022, 24.1% in 2021 and 30.2% in 2020.
  • This is mainly a result of our top quartile increasing to 42.4% female (33.3% in 2023) and our bottom quartile reducing to 60% female (64.2% in 2023). While the overall WeWork company and population size have decreased, the relative proportion of female promotions and new hires have increased during this period.

Bonus Pay Gap

• Our mean bonus pay gap has slightly increased to 48.7%, compared to 41% in 2023; 57% in 2022; 47.3% in 2021 and 69.7% in 2020.
• Our results continue to be impacted by the fact that some of our longest tenured and most senior roles were occupied by men during this reporting period.
• Notably, 100% of both females and males received a bonus.

New Hires + Promotions

• From April 2023 to April 2024, we had 102 new hires, of whom 65.7% were female and 34.3% were male. During this period, we promoted 102 employees, 59.8% of these promotions were female and 40.2% were male.

Our Commitments

At WeWork, we continue to take proactive steps to close our gender pay gap by creating an environment that supports female employees to succeed in their career ambitions. It’s important to note that during periods of structural change for WeWork over the last few years, the company has continued to prioritise and invest in our strategies to create meaningful impact. These commitments include:

• Supporting female colleague’s career paths to grow into senior positions through both formal and informal sponsorship opportunities across our leadership team; offering them additional support, championing their growth, investing in their progress and boosting their visibility across the business.
• Investing in our talent and development strategy that supports a fair hiring and selection process to bring real and lasting changes. This strategy is focused on ensuring that a diverse candidate pool is sourced and considered, and that each interview panel is diverse.
• Championing our Employee Community Groups (ECGs), our employee-led groups that aim to foster an inclusive workplace aligned with WeWork’s mission and values to drive impactful change. In particular, our Women of WeWork and Parents at WeWork ECGs are focused on career development, quarterly panel discussions for teams participating, internal networking and annual initiatives including employee-centric events that raise awareness of potential barriers and skill-building workshops to help individuals feel empowered at work. 
• Promoting WeWork’s Office of Inclusion that seeks to foster inclusion at the workplace to ensure everyone feels welcome and is encouraged to be their authentic selves at work. These efforts include:
  • Continuing our leader-led mentoring circles as part of  the Women of We ECG designed to empower the professional development of talent.
  • Proactively creating dialogues and forums as well as providing resources to foster a culture of inclusion through conversation.