HM Treasury Women in Finance Charter
HM Treasury Women in Finance Charter
Progressive Building Society has signed the HM Treasury Women in Finance Charter which has a key priority of harnessing the talents of women in financial services.
It marks the sector’s collaborative efforts to drive meaningful and permanent changes in the representation of women in financial services, to ensure women everywhere are able to fulfil their potential. In signing the Charter, the Society has made the following pledges to improve gender diversity.
Pledges
The Society will set internal targets for gender diversity in senior management.
- Continue to facilitate, to the fullest possible extent, a range of flexible working initiatives that encourage women to stay and develop their careers within the Progressive Building Society and
- Maintain current female participation levels at management (74% female participation) and Senior Management Committee (38% female participation), improving these where possible, in line with recruitment practices to ensure continued strong female representation;
- Launch an in-house leadership development programme and support and encourage female participation with a target of at least 50% female participation, building on their skills sets for the future;
- Increase the number of women who have access to Society sponsored membership of the Women in Business NI forum from 8 to 20, providing access to training, networking and mentoring opportunities to support future career and personal growth.
Progress
When we signed the Charter, we had 38% female representation at senior management level. As of 28 September 2020, we have 67% female representation. This is a highly significant level of participation for a financial services organisation. We believe that we have met our target by our deadline for female representation at senior management level.
Over the past twelve months, the latest female appointments to senior management have significantly contributed to the progression of the Society’s Digital Strategy.
We have maintained a 70% female representation at management level. Whilst this is slightly below our target, this level of female participation provides strong role models for aspiring female managers within the Society.
Due to the impact of the COVID 19 pandemic, the Society brought forward plans to implement remote home working arrangements. This has provided our female staff with the opportunity to balance working commitments with the challenges of school closures and childcare and the difficulties associated with caring for elderly relatives thus supporting women to remain in their roles and grow their careers at a challenging time.
The pandemic affected targets in other ways, with an ILM development programme being placed on hold until 2021.
During the past 12 months, the Society took steps to enhance its performance review process and to develop managerial coaching skills thereby strengthening development plans for female staff.
All female staff can now avail of networking and training opportunities through Corporate Membership of Women in Business NI, enhancing confidence and helping prepare females to take the next step in their career within the Society.
The Society remains committed to encouraging females to develop their careers and realise their potential.