Women in Finance Charter 2023 – Our Commitment
In 2019 we committed to maintaining at least 30% female representation within senior management roles by the end of 2021. We met this target and set a new ambition to increase female representation to at least 35% by the end of 2024. By September 2022 we had achieved 34.7%.
We are now pleased to report that, as at September 2023, female representation within senior management is ahead of the target at 37.3%.
Family Assurance Friendly Society Limited, trading as OneFamily, values the importance of gender diversity within the organisation and financial services, and is proud to be a signatory of the Women in Finance Charter.
We pledge to continue to support diversity within OneFamily and are committed to increasing representation of women in senior management roles and throughout the organisation.
The Women in Finance Charter commits financial services organisations to:
- Set internal targets for gender diversity in senior management;
- Appoint a member of the senior executive team to be responsible and accountable for gender diversity;
- Publish progress annually against these targets in reports on our website;
- Ensure pay of the senior executive team is linked to delivery against the internal targets on gender diversity.
Increasing the representation of women in senior management roles remains a key priority moving forward. To support this we are continuing our mentoring programme for female colleagues to help individuals build their confidence by developing their own plans and strategies for career development. It also enables our mentors to gain a better insight into the challenges and support needs for our female leaders of the future.
Our commitment is to:
- Achieve a minimum baseline of 35% female representation within senior management roles* by 2024;
- We aspire to further address the balance of female representation within our senior management roles;
- We will annually publish our progress against our targets.
We know there is more we can do as an organisation and will continue to strive to support diversity through:
- Aligning our Diversity & Inclusion strategy with our business strategy;
- Driving accountability through our senior executive team;
- Communicating our commitment and how we aim to achieve it;
- Monitoring our recruitment strategy and practices to ensure balanced shortlists;
- Improving our family friendly policies and develop new policies and support in areas such as menopause;
- Enhancing development initiatives and opportunities to support progression; and pay equality.
- Recognising the performance and talents of our people and reflecting these in career progression opportunities.
*Senior Management is defined as our Non-Executive Directors, Executive Directors, direct reports of our Executives and certain other Senior Management roles within our job family framework