Women in Finance Charter

Yorkshire Building Society is proud to have signed HM Treasury’s Women in Finance Charter

What is it?

The Women in Finance Charter1 is a pledge for gender balance across financial services from HM Treasury. It is a commitment to work together, across our industry and with Government, to build a more balanced and fair financial services industry.

Organisations who have signed the charter have made a clear commitment to improve diversity, ensure that women are able to progress into senior levels, set targets to support this work and regularly report on their progress. 

We believe that, by valuing diversity of thought and outlook, we can make better decisions across our business, in order to benefit our members.

 

What are we doing about it?

Diversity doesn't begin and end with signing a pledge. We do a huge amount of work to ensure we improve the diversity of our teams, and that won't stop any time soon. We're proud to be working with the National Centre for Diversity to ensure that others businesses can learn from our experience as well. 

But we also know that we have a long way to go. By signing the Charter, we're making a public commitment to help improve diversity in financial services.

2019 update

In the year since we signed the Women in Finance Charter we have worked hard to foster an inclusive culture throughout our organisation. Through our work, we have been accredited as Investors in Diversity, and been recognised as a UK Top 50 Inclusive Company, placed at number 47.

Our work has included unconscious bias training for 500 managers; effective succession planning and piloting strengths based recruitment. Our Director of People Performance, Tracey Newton, gave evidence on our approach to the Treasury Select Committee in June 2019.

During 2019, we have undergone significant organisational change. As a result of that, the senior leadership group we measure our target against has significantly reduced. We made sure that diversity and inclusion was considered as part of the organisational change, this included a committee which signed off the changes and robust recruitment/assessment process for all roles created in the new structure. Despite these measures we have seen the proportion of female leaders in these roles reduce.

We believe, however, that we are still on track to achieve a balanced senior leadership team as per our commitment under the Charter. In the next year we will continue to increase our efforts to foster an inclusive culture and ensure that our senior leadership becomes more diverse as a result. We will begin working toward the ‘Leaders in Diversity’ accreditation and extend the practice of strengths based recruitment focusing on the hiring stage, ensuring inclusive decision making.

Senior Leadership
Where were we in 2018? 42% women, 58% men
Where are we now? 39% women, 61% men
Target 50% women, 50% men
With a minimum of 40% of either gender

*Please note, the senior leadership team in 2018 included 346 colleagues. Our senior leadership team in 2019 includes 164 colleagues.

Female colleagues in customer facing roles make up 46% of the total population. We are looking at ways we can encourage more males to apply to work in these roles to create a more balanced workforce throughout the business.

1For more information about the the Women in Finance Charter visit:
https://www.gov.uk/government/publications/women-in-finance-charter