PROMOTING AN
INCLUSIVE CULTURE
GENDER PAY GAP REPORT 2023
Stanley Black & Decker UK Ltd

GENDER PAY GAP REPORT 2023

Gender Pay Gap Report 2023
Reporting Requirements
As Stanley Black & Decker UK Ltd employ over 250 employees, we are required to report and publish
gender pay information based on set criteria.
The pay data in this report is based on a snapshot of our pay data on 5th April 2023.
Gender pay reporting requires the following;••••

Mean and median gender pay gap.
Proportion of males and females by quartiles pay band.
Mean and median gender bonus gap.
Proportion of males and females receiving a bonus.

Bonus Pay Data are based on payments received in the 12 months leading up to the 5 th April 2023.

Our Gender Pay Gap
Mean 17.46% this is the difference in average hourly pay rates of male & female employees.
Median 26.21% this shows the difference in the midpoint of hourly pay rates for male and female
employees.
Proportion of Males and Females in Each Quartile Pay Band:

Lower Quartile

Male47.06%

Female52.94%

Lower middle Quartile

65.88%

34.12%

Upper middle Quartile

72.94%

27.06%

Upper Quartile

73.96%

26.04%

Our Bonus Pay Gap:
Mean 32.85% this is the difference in average bonus pay that male and female employees receive.
Median -12.32% this shows the midpoint of the bonus pay received by male and female employees.
Proportion of Males and Females Receiving a Bonus Payment:

Employees Receiving a Bonus

MaleFemale

67.12%

59.66%

The figures set out above have been calculated based on the instructions set out in the HMRC link
https://www.gov.uk/guidance/gender-pay-gap-reporting-data-you-must-gather

GENDER PAY GAP REPORT 2023

Actions to Address the Pay Gap
Fair Compensation
Stanley Black & Decker is committed to a total compensation program that is competitive with practices
in our industry. Our objective is to improve the link between our compensation programs and the overall
success of the company by leveraging and reflecting our performance-based culture and values linked toour company purpose.
None of our compensation programs or guidelines differentiates based on gender or other individual
differences including but not limited to sex, race, religion or religious practice, age, marital status or civil
partnership, pregnancy/maternity, sexual orientation, gender reassignment or disability.
Below represents our global compensation philosophy in more detail:Our compensation is designed to:•••Reinforce our Focus Forward and HR Strategy with people at the center.
Motivate and reward the demonstration of our organizational values and performance.
Enable us to attract, engage and retain the right talent through competitive compensationlevels and programs.

Our compensation programs are intended to:••••Function in a consistent framework that supports the global Company by meeting the varying
needs of our people and business.
Leverage best practices to reward the efforts and accomplishments of our people.
Maintain balance between profitability and operational stability.
Be fair and equitable, supporting our inclusive and collaborative culture.

Our compensation programs drive success through:••••Effective management and coordination of all compensation programs across businesssegments and geographies.
Our ability to recruit and retain high caliber talent.
Strong governance to drive competitiveness, compliance and inclusive decision making.
Education and communications, targeted to maximize employee understanding andexperience.

“Recruiting, retaining, and nurturing the best talent is paramount to the achievement of ourcompany’s vision. We seek to provide fair compensation, reward performance, and celebrateachievement while ensuring our people’s goals, development and learning are aligned with thecompany’s growth objectives and our Purpose and Values.”

Equal Pay and Non-Discrimination
Stanley Black & Decker is committed to the principle of equity: Equal opportunities and equal treatment
for all employees,
These principles are actively applied to all business aspects of the company, including Compensation. TheCompany has a clear policy of paying employees equally for the same or equivalent work, regardless of
their gender (or any other characteristic set out above). As such, it:GENDER PAY GAP REPORT 2023••••

bases pay decisions on the role and how compensation compares to market in combination withobjective performance evaluation of the incumbent.
has introduced a common and consistent global job architecture to evaluate roles fairly
the company carries out audits to identify gaps and to adjust to market value or peer salaries.
Invests in training and reviews to remove bias from pay and promotion decisions.

Pay Transparency and Equal Pay (EU Directive)
Even though not directly affected by the EU Pay Transparency Directive, analysis and measures taken will
apply to the UK as well.
Total Reward Packages
Building on the global job architecture, the Company will take a more comprehensive view and increase
governance around the assignment of additional pay elements, including eligibility to Bonus payments orcertain Benefits, to ensure a fair and consistent Total Reward package.
While our gender pay gap is currently higher than the UK economy as a whole, it is a subject which theCompany is committed to taking action to reduce. Below are some of the measures already in place aswell as some of the areas the Company will focus on over the next few years to continue its effort toconsistently reduce the gender pay gap over time.

Diversity, Equity and Inclusion:
As part of its commitment to the Diversity, Equity & Inclusion agenda, the company has a dedicated DEI
office led by the Chief Diversity Officer. Instrumental to the global strategy is the focus on Employee
Resource Groups (ERGs), of which there are 9. Today we see that the Women’s Network Employee
Resource Group is well established across business units and countries. The purpose of these networks isto provide women across the Organisation an environment where they are empowered to pursue careeradvancement opportunities, achieve leadership positions, and have access to resources to support theirprofessional development. This is strongly supported by our Chief Executive Officer, Don Allan.
As part of our commitment to DEI the following key actions have been put in place:•A Chief Diversity Officer leads our holistic diversity, equity and inclusion strategy supported by ateam of professionals.

•A Diversity, Equity & Inclusion Director for Europe (EMEA ANZ) has been appointed to tackle amore bespoke approach to Equity and inclusion in the region.

•An Inclusion Hub for the European region operating as an umbrella ERG. One of the initiatives
piloted by this group in 2023 was a mentoring program designed specifically to support theadvancement of female emerging talent across the EMEA ANZ region including the UK. Following
the successful pilot the program will be enhanced and further rolled out.

•Inclusive training for people leaders; we are currently in the process of rolling out a program insupport of gender partnership – MARC. MARC was developed by one of our external partners
Catalyst and stands for Men Advocating Real Change. Following a successful pilot, the program isbeing rolled out to all senior leaders across the Company including the UK.

•

Increased rigour around hiring practices to ensure a more inclusive hiring process and experience
for the candidate. This includes upskilling the hiring managers to mitigate bias from the selection
process and proactively open up the talent pools to reach more diverse talent.

•The provision of the Gender Pay Gap reporting, for increased transparency and better
understanding across all European countries.

GENDER PAY GAP REPORT 2023•

Embed the Company Code of Business Ethics and Integrity@SBD,our global reporting platform toanonymously report concerns in local language, online, by phone or via text messaging.

•External partnership formed with the LEAD Network with the intention of advancing more womenin leadership – internally and externally.

•Key strategic focus is on integrating DEI into key people processes, systems and programs
including proactively mitigating bias from Talent Acquisition processes to continually enhance ourability to attract and hire a more diverse talent pool.

Reviewing Family Friendly and Flexible Working Policies:
Stanley Black & Decker is committed to offering all employees regardless of role or seniority theopportunity to be considered for flexible working arrangements on application. The Company wants tooffer the right working environment to allow all employees the opportunity to have a successful career
regardless of working pattern.

Recruitment and Selection:
Currently, encouraging women of any age or experience into the Industrial sector is a challenge. TheCompany continues to review how it sources candidates, we have established a Talent Acquisition Centreof Excellence and appointed regional Talent Acquisition Partners. We are actively moving away from third
party agencies, which is yielding greater focus, flexibility and balance of female candidates as well as usingsocial media. The Company will continue to drive a practice of having diverse interview panels, with bothmale and female interviewers.
A key initiative is to evolve our employer brand and communications to appeal to more diverse
candidates this work is being led by our VP Talent Acquisition and supported by a global team. Inaddition, we will focus on demonstrating a viable career path within the Industrial Sector irrespective ofgender and in particular at senior management level. To support this, we have evolved our presence on
LinkedIn to be more relevant to our region and more inclusive. The Company will continue to explore
working with Universities and Schools to raise the profile of the industry and what it has to offer towomen. We believe our approach to flexible working will help to attract more women into theorganisation as well as support those looking to advance their career.
In addition:•Stanley Black & Decker has rolled out training for Directors and above on Men Advocating for
Change (MARC) and will also be rolling out an inclusive leadership program offered by Korn Ferry
to all Managers.

•The Company continues to review job descriptions and adjusting language used to be more
inclusive and gender neutral in the recruitment and selection process.

•We have also set ourselves targets to increase the number of women in the number of applicantsand hires.

Globally we are focussed on representation, hiring and retention metrics as well as ensuring compliancewith our obligations under the Equality Act 2010 around positive action. We can see from our annualengagement survey that efforts on retention and inclusion are increasing engagement amongst all
employees and the rate of loss between Gender has equalised.

GENDER PAY GAP REPORT 2023

Closing Notes
None of these initiatives will, in themselves, remove the gender pay gap and the Company recognises it
may be several years before some have any impact at all.
In the meantime, Stanley Black & Decker is committed to reporting on an annual basis on what it is doing
to reduce the gender pay gap and the progress that the Company is making. We recognise there is a gap,
which we are taking very seriously and are committed to reduce this over the next few years through thepositive initiatives outlined above.
Any further initiatives launched throughout the year will be reported in next year's report.

Contact Us
Global Head Corporate Office

Corporate Communications

Stanley Black & Decker

Ashley Perkins

1000 Stanley Drive New Britain, CT 06053

Vice President, ESG Program Management

Phone: (860) 225-5111

Phone: +1 410-716-7460

corporaterequest@sbdinc.com

ashley.perkins@sbdinc.com

UK Contact
Pam Punia
HR Business Partner
Phone: +44 7880 420089
pam.punia@sbdinc.com