Iron Mountain is a global business dedicated to storing, protecting and managing information and assets.
The vast majority of the headcount is male in both entities, approximately 74% of all population. We have only a few female employees in quartile 2 and above categories.
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 - QRS | 135 | 196 | 331 |
| Iron Mountain (UK) Services Limited - TRS | 198 | 549 | 747 |
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.
In 2024 our aim was to continue our mission in creating an inclusive and collaborative culture where everyone is supported to reach their full potential. Set out below are some great examples of what we did in 2024 and early 2025:
Events:
In 2024 Employee Resource Groups (ERGs) were a huge part of our success. Our ERGs are the heart of our culture of excellence and wellbeing, driving positive change and empowering our diverse workforce, while helping to create an organization where everyone has a voice, feels included, has a sense of belonging, and can thrive. At Iron Mountain, we have 9 ERGs, bringing together over 3,400+ Mountaineer members.
Our Women in Leadership programme started in 2024. The programme helps to accelerate the pipeline of women talent into senior leadership roles. Alongside general succession planning, we undertake diverse talent sessions, spotlighting female colleagues who have the potential to progress.
Women@IM Employee Resource Group has been relaunched in 2024, equipped with innovative tools and platforms designed to amplify the collective voice of women. The Women@IM Employee Resource Group is a group of women and allies, who are committed to creating a safe environment where women feel welcomed, respected, and empowered. We accomplish this by listening to each other, creating a sense of community, and providing meaningful opportunities with a focus on career advancement. We celebrate our differences by allowing ourselves to be vulnerable and authentic in order to feel seen, heard, and valued.
Hosted by the Women@IM Employee Resource Group, these awards honor women across all levels who drive impact, foster inclusivity, and make a difference that often goes unseen. Every full-time employee of Iron Mountain is invited to nominate a remarkable woman, regardless as to whether they are a peer, a direct report or a leader. Each nomination celebrates her unique contributions, and we encourage our employees to submit separate entries if they have multiple nominees in mind.
The theme for this year’s The Woman Leadership Conference was "Timeless over Trends". This theme highlights the importance of sustainable decisions and promotes achieving a harmonious blend of lasting values and contemporary trends.
As a result of the above actions over 40% of Iron Mountain’s global leadership is female. In the UK we hired the same number of female and male Vice Presidents in 2024..
Our ERGs: BlackColleagues@IM, Women@IM, and LGBTQ@IM are organizing February 29th a special day dedicated to recognising the power of collaboration. The employees can hear about the impactful initiatives of our ERGs and their commitment to diversity and inclusion.
March 7th: Embark on a journey celebrating Women in History Month, all Mountaineers can join globally.
March 8th, on International Women's Day, we will kick off this year's theme #AccelerateAction. The focus is on empowering women in all spaces and accelerating the steps needed for a more inclusive and equitable future. Employees can join in various ways to show your support, take action, and share their voice.
Combating the gender pay gap requires a multi-faceted approach involving policy changes, workplace practices, and societal shifts. Promoting equal access to career advancement is a crucial part of our strategy. Iron Mountain provides equal opportunities for training, mentorship, and leadership roles to both men and women. Ensuring women are represented at all levels has and continues to play a significant part of our makeup. Supporting women’s education and encouraging them to pursue higher-paying and/or more senior positions has helped address any known or perceived systemic imbalances.
In addition, we have worked to ensure that family friendly policies are in place as by reducing any caregiving burden, which disproportionately is placed upon women, it aids with keeping women in the workforce and progressing in their careers. Moreover, combating gender bias and discrimination through education and awareness can help shift workplace cultures and reduce unfair treatment.
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.
| TRS PAY AND BONUS GAP | MEAN | MEDIAN |
| Gender Pay Gap | 18.40 | 9.89 |
| Bonus Pay Gap | -7.3 | 19.9 |
Our most recent Gender Pay Gap shows significant improvement on our previous year in the area of bonus gap on an average basis. However we are not complacent with this result as the pay gaps show we still have a way to go before we close our Gender Pay Gaps.
As it is visible in the chart below the TRS organisation kept the trend and the female hourly pay is close to the male gender pay, but we still need to work on increasing hourly pay for female employees. The female pay rate on a median basis is closer, more improvement is needed on an average basis.
| TRS PAY AND BONUS GAP | MEAN | MEDIAN |
| Gender Pay Gap | 18.40 | 9.89 |
| Bonus Pay Gap | -7.3 | 19.9 |
Meanwhile, proportionally more male employees received bonuses, on the average basis we can see a significant decrease 54% in the bonus gap on an average basis. This is likely attributable to the two senior female Executives who were part of the current female leaders based in the UK. The values show the difference of £476. We need to develop more on the median basis.
The number of the bonus eligible employees has reduced significantly in the past years. During the Covid period and after Brexit there was a huge demand for drivers and warehouse workers. In order to attract new joiners and retain existing employees in these jobs we had to restructure the compensation elements for these employees. They were eligible for base salary and bonus. We retired the frontline quarterly bonus and rolled these bonuses into the base pay. As a result of these actions only 34% of male employees and 27% of the female employees received a bonus in the 12 months before April 2024.
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 bonus gap to 19,9% this year as a large proportion of this population are male.
We are proud of the average results, where the female bonus payments are 7.3% higher than the bonus paid for male employees.
| QRS PAY AND BONUS GAP | MEAN | MEDIAN |
| Gender Pay Gap | 24.74 | 37.73 |
| Bonus Pay Gap | 32.9 | 30.0 |
The gender pay gap is kept at almost the same level as the previous year on an average basis, but we are proud of the improvement in the bonus gap on a median basis. Our most recent report shows a 1.5% improvement in the gender bonus gap on a median basis
The number of the bonus eligible employees decreased in both genders in Iron Mountain (UK) PLC. Based on the market data and internal consistency issues the company started the bonus harmonisation process effective from January 2024. It impacted more employees in this organisation where a higher number of administrative and clerical workers are working. The process resulted in cleaning the eligibility rules and rolling the annual bonuses into the base pay taking into the consideration of the previous total target cash. It positions the employees’ base salary higher on the local market. As we have more male employees also in this entity the base salary increase inflated the gender pay gap. New employees are recruited based on the new bonus rules which means that their base salary, the guaranteed part of their compensation, will be closer to the benchmarks.
Both the headcount of the male and female employees decreased in this organisation. The gender male workforce headcount decreased from 240 to 196 and the number of the female employees decreased from 172 to 135. The headcount reshaping is another rationale for the increased gender pay gap and also the bonus gap on an average basis. We are dedicated to focus more on addressing these gaps in the upcoming years in the QRS team and improve our results.
| QRS PAY AND BONUS GAP | MEAN | MEDIAN |
| Gender Pay Gap | 24.74 | 37.73 |
| Bonus Pay Gap | 32.9 | 30.0 |
Meanwhile, proportionally more male employees received bonuses - 81% of total male population, - on the average basis we can see a small decrease in the bonus gap from 31,5% to 30,0% on a median basis. We continue to work on addressing the gaps both on an average and median basis.
The median bonus gap is much smaller on the median basis, it is only £2733, but we need to work hard on reducing the gap on an average basis. The new bonus rules will help with this as the new bonus targets are fully aligned to job levels and both male and female employees are eligible exactly for the same bonus targets in similar jobs.
It is visible that much more employees are eligible for bonus in the QRS organisation, 81% within male and 71% within the female employees.
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 three 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, significantly smaller gender pay gap is visible here than in the Iron Mountain (UK) PLC.
We are pleased to report the fact our average Gender Bonus Gap has decreased in both entities in Iron Mountain (UK) Services Limited and in Iron Mountain (UK) PLC 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 and bonus 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.
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 recently created Diversity and Inclusion team underscores our dedication to fostering a culture of diversity and inclusion throughout our organisation.
As we move forward into 2024-25, 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.
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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