Mace has committed to reducing its gender and ethnicity pay gap by 10% year on year, as it set out a series of targets in its 2026 business strategy.
The business also plans to grow its profit margin by 20% each year, reaching £3bn in annual revenue, as well as reducing emissions 10% year on year, and generating £700m in value to society each year by 2026.
In five years’ time, the company aims to employ more than 8,000 people across its four “engines for growth”: develop, construct, consult and operate. It is also targeting more growth in the Americas, Sub-Saharan Africa, and Asia Pacific.
According to Mace’s 2019/2020 gender pay gap data, there was a 34% mean gender pay gap among its UK employees, in favour of men. Meanwhile, there was a 24% mean ethnicity pay gap. A total of 31% of its UK employees were women, with 30% of its apprentices and trainees identifying as being from an ethnic minority background.
Among other aims set out by the business was a target to achieve 90% of work using modern methods of construction by 2026.
Mace CEO Mark Reynolds said: “The last 12 months have shown that companies in all sectors must urgently change how we do business, and our new strategy responds to two of the great challenges of our time: addressing climate change and creating a more diverse and inclusive global society.
“By putting purpose at the heart of our strategy, our vision is that by 2026 Mace will be leading the way across the globe in disrupting how the built environment is developed, built and operated – from creating new models for town centre regeneration and housing delivery driven by social value to working with our clients to radically transform how we construct buildings and infrastructure.
“Our strength as a business has always been our exceptional people and their industry-defining ambition and expertise. By setting out our purpose and priorities clearly, we want to put our colleagues at the centre of everything we do, growing together to realise a bold vision of the future of the company over the next five years.”
