Number of firms Fig. 1 The starting point and the destination The distribution of signatories by starting point for female representation in senior management today, and target, % 30 25 Average today* Targeted increase by 2021 Average target* 35% Today Target 20 15 10 5 0 <15 15-19 20-24 25-29 30-34 35-39 40-44 45-49 =50 50< Female representation in senior management, % *Averages exclude the 15 companies that have already met or exceeded their targets. Note: The targets data here excludes three firms whose targets are for a subset of senior women, as this chart refers to women as a percentage of all senior management
Fig. 2 The sector view Average female representation in senior management today and targeted increase, % by sector (number of firms in each sector) Today 36% Professional services (2) 37% Target Other (7) Insurance (11) Building societies, credit unions (4) Average* Banks (15) FTSE 100ᵠ Asset management (9) Global banks (5) Firms which already meet or exceed targets (15) 30% 28% 26% 25% 23% 23% *Averages exclude firms which already meet or exceed their target Other includes sectors with less than five firms: trade bodies (3), government and regulators (2), fintech (2), market infrastructure (1), venture capital (1) ᵠSource: Hampton-Alexander Review 2016 32% 30% 34% 35% 33% 38% 38% 37% 50% 64% Fig. 3 Does size matter? Average female representation in senior management today and targeted increase, %, by total number of employees, (number of firms in each category) < 10 (0) 10-99 (3) 34% 42% Today Target 100-499 (7) 500-999 (8) 21% 24% 31% 31% 1000-2499 (12) 36% 2500-4999 (5) 41% 5000-9999 (9) > 10000 (9) 30% 35% 37% Firms which already meet or exceed targets (15) 50% 64%
Number of firms Number of firms Fig. 4 Setting deadlines for reaching targets i) Whether a deadline was ii) For those firms that did, the year by which disclosed, % of firms they aim to reach their target, % of firms Already meet target 21% No* 6% 47% 28% Yes 73% 6% 9% 11% *These firms agreed with HM Treasury not to disclose a deadline at this time Fig. 5 Number of targets Percentage of firms that set one or more targets 38% 25% 15% 11% 7% 3% 1 2 3 4 5 5< Fig.6 The rate of change Targeted percentage increase in women in senior management i) over five years and ii) per year, number of firms 17 15 16 13 13 9 8 4 2 2 2 1 1 i) Targeted increase in women in senior management over five years, % ii) Targeted annual increase in women in senior management, %
Fig. 7 Adjusting to public disclosure What the signatories disclosed publicly, confidentially to HM Treasury, or not at all, % of firms Publicly Confidentially to HM Treasury Not at all Charter requires public disclosure on: Target for senior management 100% Charter requires submission of information to HM Treasury on: Deadline for senior management target* How pay is linked to diversity targets senior management today Name of accountable executive 49% 44% 44% 89% 56% 56% 51% 4% 7% Information not required by the Charter: Narrative explanation of target 48% 14% 38% Definition of senior management 32% 15% 52% entire workforce other levels of management board 23% 18% 13% 14% 13% 11% 76% 65% 68% executive committee 13% 8% 79% *Excludes 15 firms which have already met their target Other levels of management excluding board and executive committee Fig. 8 Clarity on senior management i) Whether senior ii) For those firms that did, how senior management was management was defined, % of firms defined, % of firms Board 3% Other 12% No 52% Yes 48% Exco and above Exco-1 and above 18% 26% Exco-2 and above 41%
Fig. 9 Types of link to pay Different methods employed to link diversity targets to pay, % of firms Bonus Balanced scorecard Already link pay to diversity Overall pay 13% 31% 48% 62% Fig. 10 Men at work accountable executive, % of firms Men 65% Both 3% Women 32% Fig.11 Division of labour Job titles of accountable executive, % of firms 49% 6% 4% 4% 4% 6% Other 6% CEO Other C-suite COO CFO CRO HR Other Fig. 12 Actions to achieve targets Top 10 strategies disclosed by signatories to reach targets for women in senior management, number of firms 22 19 19 17 12 12 10 10 8 5 Female career Examine hiring development / practices leadership training Improve flexible working More Identify female sponsorship / leaders mentoring opportunities Seek better gender balance in succession planning Require improved gender diversity from search firms Unconscious bias training Set gender target for external recruitment Improve female representation on hiring panels
Fig. 13 The challenge ahead Percentage female representation in senior management Targeted increase 35% Today Target
Number of firms Number of firms Asset management and investment (10) Aberdeen Asset Management Affinity Capital Ltd BlackRock Columbia Threadneedle Investments Fidelity Henderson Global Investors Hermes Investment Management Nest Corporation Schroders Standard Life Building societies / credit unions (10) Capital Credit Union Leeds Building Society London Capital Credit Union Market Harborough Building Society Nationwide Nottingham Building Society Principality Building Society Progressive Building Society South Manchester Credit Union West Bromwich Building Society Global banks / investment banks (5) BNY Mellon Credit Suisse Deutsche Bank Morgan Stanley Standard Chartered PLC Banks (includes challenger banks, payment systems,16) Aldermore Atom Bank plc Bacs Payment Schemes Limited Barclays Handelsbanken HSBC UK Landbay Lloyds Banking Group MasterCard (UK&I Division) Mizuho Bank Ltd Mizuho International plc Santander UK The Co-operative Bank The Royal Bank of Scotland TSB Virgin Money Professional services (including communication, financial advisors, 8) Cicero E2W EY Hannay Investments ionstar PwC UK Ridgeway Partners Thomson Reuters Insurance (13) Aviva Collinson Group Direct Line Group Ecclesiastical Insurance Legal and General Lloyd's of London LV= MetLife National House Building Council Phoenix Group Prudential plc The Royal London Mutual Insurance Society Unum Other (trade bodies, government and regulators, market infrastructure, venture capital, fintech, 9) Association of British Insurers British Bankers' Association Chartered Insurance Institute Circle Financial Conduct Authority HM Treasury Isban UK London Stock Exchange Group Sturgeon Ventures LLP Fig. 14 Breakdown of signatories by sector and size Charter signatories grouped by sector and number of employees 16 13 10 10 9 8 5 6 9 9 10 12 5 9 11 Number of employees Sector