Update (as at October 2019)When we signed up to the Charter in 2017 we had 39% female representation. As of September 2019 we have 33% female representation in senior management. We believe we are on track to meet our Charter target by our deadline. Following an organisational restructure in 2019, we now include our international operations in the reporting for the Charter; previously the figures were solely focused on our UK business. Whilst we see this as a positive move, it has resulted in an increase to the total staff in workforce figure which has had the effect of reducing the percentage of female staff in senior management. Looking at the numbers behind the percentage, there is actually an increase in the number of female senior managers. We remain committed to achieving and exceeding our charter target by 2022 and continue to focus our efforts on working to attract, retain and promote female employees across the business. Initiatives that we are concentrating on include promoting and encouraging flexible work in, including advertising all job roles as flexible. We are also expanding our talent development programmes, and reviewing our succession planning to ensure we support and promote our female talent. We are confident that these and our other activities aimed at ensuring diversity and inclusion which are critical to our business will lead to the achievement of our 40% target for female representation.
Original statement (as at April 2018)
Last year the government asked Jayne Anne-Gadhia, CEO of Virgin Money, to lead a review into the representation of women in senior managerial roles in financial services. This work complements the government's wider programme of work to tackle gender inequality and support women in the work place.
Collinson has signed up as a signatory to the HMT Women in Finance Charter for all roles within Insurance & Assistance and as a result will deliver against the following recommendations:
Our internal targets for gender diversity in senior management are as follows:
We have the intention to ensure the pay of the senior executive team is linked to the delivery of these targets:
The internal targets for gender diversity in senior management will form part of the objective set for every member of the Insurance & Assistance executive team within Collinson. Progress towards them will be formally reviewed at the end of April 2018 and performance vs all objectives which include the gender diversity targets will be part of the overall remuneration outcome for the 2017/18 Financial Year.
Your senior executive team member who is responsible and accountable for gender diversity and inclusion is:
Head of Compliance and Governance, Insurance & assistance