Setting targets for a female-friendly industry
- Credit: James Fletcher
Ipswich Building Society has signed the UK’s HM Treasury Women in Finance Charter, committing to help improve gender diversity in the UK’s financial services sector.
The charter, which has been signed by more than 205 firms, covering over 650,000 UK financial services employees, is a government initiative designed to improve equality across the financial services sector.
As part of the society’s commitment to diversity and inclusion, it has signed the charter and launched a set of internal gender balance targets which will help drive greater gender diversity across all levels within the company.
The society’s targets include:
30% female representation on the society’s board (executive and non-executive) by 2023. The society is currently at 22% for the whole Board and 33% for female representation of non-executive directors.
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To maintain a minimum of 30% female representation on the senior management team. This currently stands at 45%.
A programme of unconscious bias training for all recruiting managers within 12 months.
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A society succession plan and talent pipeline audit to ensure it is gender balanced and a review of the existing workforce’s development plans to ensure the society’s succession plan promotes the development of women.
Annually review employee salaries to ensure that there are no equality issues relating to gender.
Richard Norrington CEO at Ipswich Building Society said: “We are proud to sign the Women in Finance Charter, an important initiative which is helping to drive positive change in the financial services industry.
“As a mutual we operate a responsible business model where diversity is a key focus, and signing the Charter is important as it demonstrates our commitment to gender balance at all levels of our business.
We’re pleased to have set internal gender balanced targets, which will help guide us as we continue to actively pursue a balanced, inclusive and fair industry.”