RCI Financial Services and RCI Bank UK
In the UK two brands work together as part of RCI Bank and Services group to fund and lend to UK retail and business customers.
RCI Financial Services Ltd
With a sixty year history in the UK, RCI Financial Services is the financial services specialist for five of the UK’s leading car brands: Renault, Nissan, Dacia, Infiniti and Alpine. Helping individuals and businesses to buy, hire or lease new and used vehicles from our car partners, the majority of our 300+ team members are based at our head office in Maple Cross, with local teams all over the country. We also offer specialist insurance, as well as wholesale funding facilities for parts and new and used vehicles for our dealer partners.
RCI Bank UK
Based between Maple Cross and Newcastle, RCI Bank UK is an award-winning online savings bank specialising in simple and rewarding easy access and fixed term savings accounts.
Gender Pay Gap Reporting (Snapshot as at 5th April 2020)
As RCI Financial Services Ltd employs more than 250 people it is required by law to carry out Gender Pay Reporting under the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017. We are required to show the difference in average earnings of men and female earnings in our organisation.
At RCI the pay system grades range from administrative to director level. Grades vary according to the level of responsibility that staff have. Each grade has a set pay range. RCI operates a reward and recognition scheme based on performance, irrespective of gender.
The data for RCI Financial Services shows the mean gender pay gap now at 19%, an improvement of 9% since April 2018. We recognise there is a higher proportion of female employees who work in administrative roles, however we have improved our number of women at higher levels by 18%. We also understand that more women than men work part time because most caring responsibilities within the home are still taken by women. In 2020, with the introduction of RCI eLearning and LinkedIn Learning, allowed more women to take control of their own career development. We will continue to ensure that part-time employees are well supported and are given opportunities to progress and do not remain stagnant within their role.
We offer all employees a wide range of flexible working options such as part time working, term-time contracts and home working which enables them to effectively manage their work/life balance. Furthermore, with the introduction of remote working during the national lockdown has allowed the business to acknowledge the needs our workforce who had ‘home’ responsibilities. This has allowed the introduction of core hours which differ from contractual hours and thus enabling us to recruit women at management level who cannot commit to only office based contracts.
We recognise that we need to have a greater gender balance at senior level and we believe this can be achieved by having more focussed action around attracting, retaining and developing female talent. In 2020 due to the pandemic and uncertainty of the recruitment market we have successfully offered 9 internal promotions to women, 4 of which are at Management or Senior management level.
We are also proud to support women at the very beginning of their careers. From our Industrial Placement Scheme, we are delighted to be supporting graduates, 50% of whom are women. These schemes are dedicated to supporting young people as they develop important skills and experience needed for a successful future career.
At RCI we continue to work towards our ultimate goal of ensuring all people are rewarded fairly for their contributions, regardless of their gender.
With all our achievements in the past few years we have successfully achieved the “ RCI Financial Services Best Workplace ™ for Women” Award.
Work on eradicating the gender pay gap
We will continue to build on our RCI Values by:
- Supporting women returning to work - through shared parental leave, part-time, and term-time only opportunities, home working and remote working.
- Supporting women progress in their careers - through development conversations with their line managers, development opportunities, regular formal career conversations and through succession planning.
- Encouraging men to take advantage of arrangements which enable them to fulfil their caring responsibilities, such as shared parental leave and part time working.
- Monitoring pay – to identify pay differences and take targeted action where appropriate.
- Continuous improvement of the recruitment process enabling us to promote and recruit top female talent
- Building our Mentoring scheme - female mentoring a female to encourage empowerment and networking and thus enhancing their career.