Women in Finance Charter
Since July 2016, Direct Line Group has been a signatory of the Women in Finance Charter. The Charter is a commitment by HM Treasury and signatory firms to work collaboratively to build a more gender balanced and diverse industry.
When signing the charter in 2016 we had 22% women in senior management* roles and set a target of 30% by the end of 2019. Having achieved this target, we chose to adopt an ambitious stretch target of 35% by the end of 2022. On 31 December 2022 31.3% of our senior management were women. While we missed our stretch target, we believe the process of target setting has had value and driven our internal work to improve senior representation of women. Looking to the future, we are currently defining the next set of targets we will work towards.
Our long-term focus on investing in women means we have significantly strengthened representation at the most senior levels of our business. At the end of 2022, women made up:
|Women in Leadership|
|Executive Committee - 1||44.6%|
|Executive Committee - 2||40.4%|
To help meet our Charter pledge, we have:
- Introduced inclusive hiring principles, which include the use of language decoders for job adverts, diverse shortlisting standards, anonymised CVs and panel-based interviewing.
- Focussed on identifying our high-potential women and supporting their personal growth by investing in coaching and development programmes.
- Introduced a people scorecard to assess Executives’ performance against a number of people metrics and deliverables, of which the Women in Finance Charter is one and this links to their Annual Incentive Plan.
- Signed the ABI’s making Flexible Work Charter to affirm our commitment to offering flexibility. We see this helping to increase the proportion of women we attract to apply to senior roles.
- Launched new guidance around menopause and pregnancy loss, to support colleagues going through life events.
Jon Greenwood, Acting CEO is accountable for our progress on the Women in Finance Charter.
*Our Women in Finance Charter definition of senior management is based on our internal grading structure and represents approximately the 1.2% most senior colleagues in our business.