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Women In Finance Charter

Women In Finance Charter
Equality, diversity and inclusion are aligned to our purpose – which is to make people healthier and to enhance and protect
their lives – and to our values, which include liberating the best in our people; dazzling clients; innovation and optimism; and integrity, honesty and fairness. We take diversity seriously, because it is good for our business, our people, and society.

In our April 2019 gender pay gap report, we confirmed that as part of our commitment to increasing the number of women in senior
leadership roles, we had signed up to the Women in Finance Charter.

The Charter: 

  • Commits firms to supporting the progression of women into senior roles in the financial services sector by focusing on the executive pipeline and the mid-tier level;
  • Recognises the diversity of the sector and that firms will have different starting points – each firm should therefore set its own targets and implement the right strategy for their organisation; and
  • Requires firms to publicly report on progress to deliver against these internal targets to support the transparency and accountability needed to drive change.
 
Vitality’s target is to achieve gender parity at senior management level by the end of 2025.  Currently 42.7% of senior management positions at Vitality are held by women – up from 41% a year ago.

To help us achieve this target, we have implemented a raft of initiatives:

  • Set a target of 60% female appointments into £50k plus roles
  • Added this target to our corporate scorecard, which is linked to our bonus scheme for all employees
  • Enhanced our recruitment and selection practices to source more talented women
  • Launched a mentoring programme for high performing, high potential employees (the majority of them women)
  • Applied a gender lens to succession planning and talent management
  • Launched progressive parental leave and flexible working policies
  • Delivered unconscious bias training to all managers
  • Rolled out diversity and inclusion training for all employees
  • Completed a job levelling project which confirmed that equivalent work attracts equivalent pay at Vitality
  • Participated in the Chartered Insurance Institute’s Insuring Women’s Futures initiatives
  • Showcased women’s achievements via internal communications platforms
We will continue to report on progress against these targets and initiatives annually when we publish our gender pay gap report. Our focus has also been external – gender inclusivity has been core to Vitality’s positioning from the outset.  Our sports ambassadors include eminent women, and our brand advertising promotes women as role models.  We have sponsored women’s football, we headlined the Vitality Netball World Cup, and we headline the Sports Women of the Year Awards.  Vitality also fosters participation by “everyday” female athletes in multiple sports events.  

JUDY PARFITT, DIRECTOR OF PEOPLE