At Depop, our mission to build the world’s most diverse and progressive home of fashion underpins everything we do, internally and externally.
In that spirit, we’re committed to building a team that reflects the society in which we operate. We currently employ around 400 people with a diverse range of backgrounds and talents, and we’re investing in creating an equitable and inclusive workplace for all of them.
As part of this commitment, we're pleased to share the results of our annual Gender & Ethnicity Pay Gap report. For the second year running, we are voluntarily disclosing our ethnicity pay gap data - we believe this is important to further transparency and to create a benchmark by which we can measure progress. This year, we are also introducing a comprehensive pay equity study which will be conducted by an independent third party every other year from now on. We invest in these rigorous analyses to clearly understand how much progress we’ve made toward closing the gap, and how we can further our advancements.
Our commitment to pay equity and inclusive hiring practices has never been stronger, and it shows in our results. Here are some of the key takeaways that we’re particularly proud of:
We improved gender and ethnic diversity in higher paid positions in 2022. Representation of women* increased from 39% in the upper quartile in 2021 to 43% in 2022. URE (Underrepresented Ethnicities) representation also improved in the upper and upper middle quartiles respectively, moving from 27% to 30% and 37% to 39%.
We closed the gap on Bonus Pay. In July 2021, we introduced our company bonus scheme and RSUs and extended them to all eligible employees. We’re pleased to say that 100% of eligible employees received them during the reporting period ending 5 April 2022.
More generally, we’ve strengthened our approach to pay to champion fairness and transparency. We updated our pay bands, reflecting results from the global salary market review we conducted for the second year running, to make sure we pay our people consistently and competitively.
We’re proud of the improvements we’ve made this year and the progress we’ve seen; yet we know our work is far from done. In 2023, we’re committed to deepening our investment in Diversity, Equity and Inclusion to ensure that each and every one of us continues to be seen, heard, valued and celebrated. You can read more about our areas of focus for this year, later in this report.
As ever, we remain committed to our mission, to serving our communities, and to building the future we want to see.
Kruti Patel Goyal, CEO, Depop
*We recognise that sex and gender identities aren't binary. The UK government requires companies to disclose information in a binary way for the Gender Pay Gap Report. We want to acknowledge that though some of the terminology in this report may be limiting, it’s not reflective of the inclusive environment we’re cultivating at Depop.