Women in Finance Charter

25 June 2018

Ecclesiastical is pleased to be one of the founding signatories of the Women in Finance Charter.

The Charter is a UK financial services initiative to build a more balanced and fair industry, promoting gender balance at all levels across Financial Services firms. It involves a range of commitments which will be reported on the HM Treasury website.

How are we going to do it

Diversity is important to us at Ecclesiastical. We recognise that everyone is different, and value our people for the individual contribution they make. We know that diversity in our business enhances our business performance and we encourage our people to use their experience, ideas and their unique character in their work.
Fairness and equality are already important principles that underpin our working practices, and we support all our employees in reaching their potential.
We do however see that there are some opportunities for us to enhance our approach and here are some examples of the actions in our plans:

How we recruit and attract employees

  • Enhance tracking throughout our recruitment pipeline
  • Review our candidate communications to more clearly communicate our commitment to gender diversity

How we develop our people and support them to grow

  • Provide the development and stretch challenges and mentoring, to enable our female talent to reach their potential
  • Create opportunities for successful senior women to act as role models for our female talent

How we approach remuneration and managing performance

  • Continue to enhance gender monitoring within our performance moderation, and pay bonus and review processes
  • Continue to enhance gender monitoring of remuneration packages at recruitment and promotion

How we consider the health & safety and wellbeing of our people

  • Ensure the continued excellence and employee awareness of our suite of family-friendly policies
  • Support our employees to build their own resilience enabling them to better manage both workplace and personal challenges

Our commitment

Underlining our commitment to the Women in Finance Charter we have set ourselves a target that by 2020 women will make up at least 45% of our senior management and management group – a target which the above initiatives will support us to achieve.

2017 update on progress

We set ourselves a deliberately challenging and aspirational target in order to accelerate progress on gender diversity.  This is a journey, and whilst we’ve laid firm foundations we recognise that the proportion of women in our senior management and management group hasn’t changed a great deal over the course of a year. 
We’ve completed some key actions in 2017 including:

  • Launching new communications – for example on our careers pages 
  • Enhancing how we gather and report data – including in our Annual Report & Accounts 
  • Enhancing diversity e-learning for all employees and specific unconscious bias training for all managers
  • Providing leadership development, stretch challenges and mentoring to enable our female talent to reach their potential through our new Ecclesiastical Leadership Development Programme.
There is no simple answer to creating a better gender balance in our organisation. Just as our current gender balance is the cumulative result of many different factors both within Ecclesiastical and in society at large over the course of many years, so the solution will also require a range of actions taking effect over the medium term.
For more information about Women in Finance, visit the Treasury’s website.