Pay Gap Report shows increase in ethnic representation and women in leadership roles at PRS
PRS for Music Pay Gap Report shows an 11% uplift of women in leadership roles and a 19% increase of ethnic representation, now making up a quarter of PRS for Music’s team
In one year, the number of women in senior roles rose from 37% in 2022 to 41% in 2023. This rise reflects the organisation's commitment to fostering a gender-inclusive workplace and empowering women to take on leadership positions within the company: PRS for Music has committed to achieve 50% gender representation and 30% ethnic representation in its senior leadership team as part of its collaborative role on the UK Music Diversity Taskforce. To encourage sustainability and meet future demand for diversity, these targets have been embedded within the organisation’s recruitment pipeline.
The report also highlights an increase in the representation of people from ethnic communities climbing from 21% in 2022 to 25% in 2023. A marker of the continued drive and progressive culture at PRS for Music, it highlights a company which embraces diversity and believes in the value of inclusion, equity and belonging.
Read the full 2023 Gender and Ethnicity Pay Gap Report here.
The positive actions captured within our Gender and Ethnicity Pay Gap Report, underscore our continued commitment to fostering an inclusive organisation that values and embraces diversity. By sharing our progress annually, we aim to provide transparency into our initiatives and highlight the strides we are taking in our transformative journey. I am a strong believer that embracing diversity, in all its forms, is crucial for high-performing businesses, bringing with it creativity, innovation, enhanced decision-making and problem solving. Diversity of thought also contributes to a dynamic and resilient company culture. As a global organisation navigating international markets, it is our people at the epicentre who make what we do possible and drive our success.
We still have some distance to go until we reach true parity and the pay gap is closed. In this past year, we have seen positive improvements in key areas, and I am pleased to share that we are moving closer to achieving our target of 50% gender and 30% ethnicity representation across roles.
Our commitment to improving our company culture is still embedded at the heart of the organisation, in both our core business objectives and strategy. We will continue to deliver the best possible service to our members and celebrate the people making it happen.
This year's gender and ethnicity report shows that we continue to advance to our five-year diversity targets. We have delivered against our plans throughout the year and have implemented changes that will hopefully yield long-term and sustainable results for PRS.
We have a particular focus on internal progression and seek to fill at least 25% of our roles internally. To support this growth, we offer a range of learning and development opportunities to help upskill our employees and support their career aspirations. Our early careers initiatives, development programmes and succession plans are designed to fulfil both the existing needs of the business as well as the needs of the future, with the aim that each of these will contribute to favourable results next year.
With inclusive recruitment practices at the heart of our hiring processes, our team consistently and successfully source talent from a wide range of diverse networks, delivering high-quality candidates who have the potential to be our future leaders.
Our gender and ethnicity pay gap data indicates that the changes we have made to our recruitment and talent attraction processes over the past year, which focus on skills-based hiring and performance over qualifications and job titles, have been effective in helping to remove bias from our processes. The result has been a more fair and equitable process for all. The appetite for inclusion remains high at PRS for Music, and, fundamentally, our people want to do the right thing. This is evidenced by who we hire, the experience they have as an employee, and how we support their progression. This speaks to the culture we are building at PRS for Music. I believe that if you get the culture right, then diversity, inclusion and belonging will be the outcome.
About PRS for Music
Here for music since 1914, PRS for Music is a world-leading music collective management organisation representing the rights of more than 175,000 talented songwriters, composers and music publishers. Redefining the global standard for music royalties, PRS for Music ensures songwriters and composers are paid whenever their musical compositions and songs are streamed, downloaded, broadcast, performed and played in public.
For 110 years it has grown and protected the rights of the music creator community, paying out royalties with more accuracy, transparency and speed. In 2023, PRS for Music paid out £943.6m in royalties and collected a record £1.08 billion in revenues. prsformusic.com
