Diversity and Inclusion - We make a conscious effort to ensure Phoenix is a fair place to work and take a holistic view of diversity and inclusion.
We are a stronger business because we are all uniquely different. Phoenix knows diverse companies perform better and has sought to support a number of effective initiatives to reinforce this. One of the first of these was to sign the Women in Finance Charter in June of this year.
The Charter is a commitment by HM Treasury and signatory firms to work together to build a more balanced and fair industry. The signatories have a clear aspiration to improve gender diversity at all levels within Financial Services and particularly amongst middle and senior managers.
Phoenix is proud to be among the first 72 companies that have signed the Charter. One of its commitments is to publish targets so that we can be held accountable for our progress. We have reflected on the commitments below and feel that this is the right approach, alongside our peers in Financial Services, to improve and encourage more women to take up middle and senior management roles.
If you want to know more about any aspects of diversity and inclusion, including the women in finance charter, at Phoenix please contact firstname.lastname@example.org. Feel free to share your ideas about initiatives that help us to reinforce our culture and values and help us be the best that we can.
1. Minimum of 30% of our top 100 roles (as defined by base salary) to be occupied by women
Base pay can increase either following a promotion to a more senior role or through increasing competence in a current role (which can earn a movement upwards in the pay range for the role). We believe that working towards, and achieving, this target demonstrates diversity and inclusion in our approach to development and promotion.
2. Minimum of 40% of green/amber successors to be women
Green and amber successors are those people identified as ready for their next role within the next 6 months (green) or between 6 – 24 months (amber). Our succession plan covers our Executive Committee roles and each of their direct reports.
Phoenix takes a proactive approach to its succession planning and the plan is reviewed and updated regularly. It has a direct link to our leadership development programmes. Working towards, and achieving, this target demonstrates our approach to identifying and developing high potential staff regardless of gender.
3. Group wide gender pay gap to be less than, or equal to, 22%
This target will be the ultimate measure of success of the other targets. As we increase the number of women in senior/top 100 roles, we anticipate that the gender pay gap will reduce.