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Iron Mountain – gender pay gap report 2023 - 2024
Iron Mountain is a global business dedicated to storing, protecting and managing, information and assets.
Iron Mountain has two UK employing entities, Iron Mountain (UK) PLC and Iron Mountain (UK) Services Limited which are required to report their gender pay gaps. The table below shows the make-up of each employing entity:
| COMPANY | F | M | TOTAL |
| Iron Mountain (UK) PLC | 240 | 172 | 412 |
| Iron Mountain (UK) Services Limited | 730 | 315 | 1045 |
At Iron Mountain, we foster an environment characterised by teamwork, bravery, and a deep focus on customer satisfaction, principles that guide every employee. Our collective effort is to build an inclusive workplace where everyone's true self is embraced and valued. By embracing a variety of thoughts, experiences, and viewpoints, we spark innovation. This approach not only enables our employees to flourish but also enhances our customer experience and drives the success of our business.
What we did in 2023 - 2024
In the vibrant tapestry of our company's culture, Women@IM stands out as a beacon of progress and inclusivity. This global Employee Resource Group (ERG) has not only witnessed remarkable growth but is also stepping into 2024 with a renewed spirit and enhanced features aimed at nurturing an even more inclusive workplace.
Back in 2019, Women@IM embarked on a transformative journey, reassessing its core mission and vision. This reinvigoration attracted members from all walks of life, both men and women, united by a shared commitment to make a meaningful difference. As we move forward, the group's membership continues to swell, a testament to its impactful initiatives.
Women@IM has been relaunched in 2024, equipped with innovative tools and platforms designed to amplify our collective voice. Among these is a dedicated internal social media page, a vibrant space where members can engage with content ranging from senior role opportunities and regular podcasts/articles to essential mental health support and awareness campaigns. Topics like Breast Cancer Awareness and navigating childcare challenges are also prominently featured, resonating with our commitment to address issues impacting women significantly.
The highlight of 2023 was the W@IM Equity Vlog, an inspirational series that ran from June to August, featuring our Senior Leaders. These sessions provided powerful insights and motivation, further cementing Women@IM's role in fostering leadership and empowerment within our community.
Adding to our suite of communication tools is the newly launched quarterly newsletter, "IM Talkback." This publication shines a spotlight on women in senior positions, offering readers a glimpse into their career journeys and sharing pearls of wisdom to inspire and guide.
Women@IM is more than just an ERG; it's a movement within our company, championing the cause of equity, inclusion, and empowerment. As we look ahead, we continue to support and engage with Women@IM's initiatives, contributing to a workplace where every voice is heard, and every contribution valued.
International Women’s Day
Iron Mountain's commemoration of International Women's Day in 2023-2024 was a resounding declaration of our commitment to sparking positive change and fostering an environment of inclusivity and empowerment. This period was marked by vibrant celebrations and initiatives, illuminating the path towards a more equitable future.
The heart of our celebration was the observance of Women's History Month, a time dedicated to amplifying the pivotal role of women in shaping our history, culture, and society. Our employees rallied around this cause, sharing messages of support and commitment to equity across our social media platforms. These efforts were bolstered by the enthusiastic endorsement of our leadership, including our President and CEO, demonstrating our collective resolve to champion equity.
A cornerstone of our celebration was the global event held on International Women's Day, welcoming all employees to a professional development session titled "Embracing Equity." This session, led by a distinguished female-driven organisation, aimed at helping companies nurture and promote their female talent, was a testament to our dedication to creating a supportive environment for women at every stage of their careers.
Looking ahead to 2024, we embrace the theme "Inspiring Inclusion" for International Women's Day, with February 29th earmarked as a special day of recognition. This day is a salute to the power of collaborative effort, bringing to the forefront the synergies between Iron Mountain's Living Legacy Initiative, BlackColleagues@IM, Women@IM, and LGBTQ@IM. Together, we celebrate and honour the enduring legacy of Rev. Dr. Pauli Murray, whose life and work will be commemorated on a US quarter. This initiative underscores our belief in the transformative power of inclusion and collaboration, setting a vibrant tone for our continued journey towards equity and empowerment.
Charity Support
In 2023, Iron Mountain introduced a charity support framework in the UK & Ireland, focusing on providing financial assistance to local charities connected to our employees. Priority was given to organisations that resonate with our ERG initiatives and our agenda for gender diversity, as well as those offering volunteer opportunities for our business teams. Seven charitable causes and fundraising activities were supported, encompassing numerous local women's and girls' sports teams.
In the year 2024 we are also hosting a charity football game on 4th July 2024 where our Mountaineers will be participating for charity cause and also Transaid Cycle Challenge that will start from Newcastle to Edinburgh and this event will be conducted from 19-22 September 2024.
Looking Ahead
2024 will see the launch of a new multi-faceted, comprehensive global development opportunity Women in Leadership (WiL) initiative for our female Director+ population. Iron Mountain is committed to elevating and advancing a culture of inclusion and belonging that inspires and sustains innovation, diversity and agility. This initiative will accelerate the attraction, engagement, retention and readiness of women leaders for promotion by cultivating the skills and behaviours needed for advancement within Iron Mountain.
The WiL program includes structured professional development, 360 degree feedback, one to one executive coaching, executive sponsorship and external thought leadership through a Speaker Series.
By investing in this global development opportunity, Iron Mountain is committed to accelerate the attraction, engagement, retention and readiness of women leaders for further career advancement within Iron Mountain.
In Iron Mountain, globally, our aim is to continue our mission to have past, current and future employees view their experiences at Iron Mountain as an accomplishment and source of pride we intend that:
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We will relentlessly strive to be a world-class employer in every region in which we operate.
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By 2025 we will tighten our threshold for gender pay parity from +/-10% to achieve +/- 5% across all organisational levels in all countries where we are reporting (US, Canada, UK)
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By 2025, women will represent 40% of global leadership.
Phil Shepley, (VP Multi-Country / Cluster Commercial) said:
Gender equality should be a given but in too many places and situations it isn't yet. Iron Mountain is growing and we have used this opportunity to build a more diverse leadership team during 2024. Diversifying our business into technology services and logistics has provided more opportunity to show how a truly diverse team succeeds and how equality in our leadership teams and through our organisation drives better results.
So I, and our leadership team have committed to challenge gender bias and stereotypes and will work to correct the imbalance we see in work and society today because it’s the right thing to do. And the right thing to do is always good for business.
We will be proactively continuing on our journey of eliminating barriers and breaking the bias to allow our employees to fulfil their potential.
Pay and Bonus Gap Data
The gender pay gap shows the difference in average hourly pay and annual bonus pay between women and men at Iron Mountain. It is different from equal pay, which looks at pay differences between men and women who carry out the same jobs, similar jobs or work of equal value. The gender pay gap shows the differences in the average pay between men and women regardless of role.
Iron Mountain (UK) PLC - QRS
| PAY AND BONUS GAP | MEAN | MEDIAN |
| Gender Pay Gap | 23.03 | 30.95 |
| Bonus Pay Gap | 22.1 | 31.5 |
Our most recent Gender Pay Gap shows improvements on our previous year in almost all areas of pay and bonus, however we are not complacent with these results as the pay gaps show we still have a way to go before we close our Gender Pay Gaps. We are particularly pleased with significant improvements to the gender pay in our QRS entity with 6% reductions in average and almost 7% reductions in median. The gender bonus gap decreased by 3% on an average basis and by 7,7% on median. This is likely attributable to the two senior female Executives who were part of the current female leaders based in the UK.
Iron Mountain (UK) Services Limited - TRS
| PAY AND BONUS GAP | MEAN | MEDIAN |
| Gender Pay Gap | -0.86 | 0.75 |
| Bonus Pay Gap | 47.1 | -300.1 |
In 2022 we needed to highlight some changes to our pay and bonuses in our UK business which were having an impact on our pay and bonuses, particularly within the TRS organisation. After Covid and as part of efforts to help with the unique challenges of the increased demand for drivers and warehouse staff, we took a look at frontline pay, from our frontline record handlers and drivers up to our supervisor population. We decided to retire our frontline quarterly bonus in 2022 which affected circa 520 employees to enable us to roll these bonuses into frontline pay. This guaranteed the payment for this employee group, but also allowed them to be able to invest more in flexible benefits and contribute more to their pensions (as well as receive large contribution payments from the company). In our Gender pay gap there is now a noticeable drop in the number of employees receiving bonuses and in particular fewer women than men received a bonus. We also re-aligned supervisor pay by harmonising our bonus targets within the supervisor population and paying any additional amount a supervisor received above the set target into base pay. This may have inflated our median gender pay gap to 47% this year as a large proportion of this population are male. However we are really proud of the median results, where the female bonus payments are 300% higher than the bonus paid for male employees.
We are pleased to report the fact our average Gender Pay Gap has decreased in both business entities suggests our strategy to empower and promote more women within the organisation is working. We are always continuing to look at ways to make our business a more diverse and inclusive place to work and encouraging equal opportunity to all employees. We try not to look at the pay gaps in isolation, as they are not the only measure of inclusion, although they are a good measure of highlighting areas for focus. We are not complacent about the challenges and we do still have areas of imbalance to focus on over the course of the next year, which we intend to resolve.
Iron Mountain (UK) PLC - QRS
| PAY AND BONUS GAP | MEAN | MEDIAN |
| Gender Pay Gap | 23.03 | 30.95 |
| Bonus Pay Gap | 22.01 | 31.05 |
Iron Mountain (UK) Services Limited - TRS
| PAY AND BONUS GAP | MEAN | MEDIAN |
| Gender Pay Gap | -0.86 | 0.75 |
| Bonus Pay Gap | 47.1 | -300.1 |
Employees by Pay Quartile
The majority of our leadership, support functions and professional services sit within Iron Mountain (UK) PLC. Within Iron Mountain (UK) PLC there are more men in senior roles and more women employed in professional and mid-management level roles. We believe that this workforce structure is the main explanation for our pay gap in this entity. As the quartile graphs show, the male workforce dominates in all of the pay quartiles, not just in the higher tiers and we work hard to ensure women are fairly represented at mid and senior level positions.
Iron Mountain (UK) Services Limited has twice as many employees as Iron Mountain (UK) PLC and this is where the majority of our physical records storage and data management solutions roles sit. Typically the gap is the smallest here as there are generally few or no senior level positions here, however a small number of new higher paid sales roles, filled predominantly by men, have stretched a small positive gender pay gap in this area.
Closing remarks
At Iron Mountain, we are steadfast in our commitment to addressing the gender pay gap, acknowledging the necessity for ongoing improvement in this critical area. Our recent appointment of a new Chief Diversity and Inclusion Officer underscores our dedication to fostering a culture of diversity and inclusion throughout our organisation.
As we move forward into 2023-2024, we are more determined than ever to pinpoint and seize opportunities that advance gender equality within Iron Mountain. Through the development and execution of strategic initiatives, we aim to not only promote but also realise gender equality across all levels of our company. This commitment is a cornerstone of our mission to create a more equitable and inclusive workplace for all our employees.
You can find previous years' gender pay gap reports on the following links:
I confirm that the data in this report has been prepared according to the requirements of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.
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