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We want Phoenix Group to reflect the customers we serve and the communities we operate in. We're striving to make sure our workplace is diverse. A place where all colleagues are treated with respect and dignity and able to bring their whole self to work.
Building a diverse workforce allows us to attract the best talent, broaden our skillsets and widen our thinking. Ultimately, it helps us deliver the best outcomes for our customers.
We are committed to leading through action and being transparent with our progress on Diversity, Equity and Inclusion (DEI).
To shape a more diverse and inclusive workplace, we became one of the first organisations to sign the HM Treasury’s Women in Finance Charter when it launched in 2016. This is a commitment by HM Treasury and signatory firms to work together to build a more balanced and fair financial services industry. When we signed the Charter, we made a commitment to increasing our gender balance, appointing a member of our Executive Team to be accountable for gender diversity and inclusion, setting internal targets for gender balance in our senior leadership and publishing our progress against our targets.
We are very pleased, as at the end of June, to have reached our highest number of women in the top 100 paying roles and our lowest monthly gender pay gap.
Target |
End of 2024 target |
As of 30th June 2024 |
|---|---|---|
Women in senior leadership |
40% |
39.1% |
Women in top 100 paying roles |
35 |
38 |
Monthly gender pay gap (FTE salary equivalent) |
<=20% |
19.1% |
Group wide Black, Asian and Ethnic Minority representation |
>=15% |
N/A* |
Senior leadership - Black, Asian and Minority Ethnic representation |
>=12% |
N/A* |
Senior leadership - Black representation |
>=1.5% |
N/A* |
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* Earlier this year we moved our colleague diversity data collection from a once a year survey into our internal HR system. This will provide us with just in time view of our workforce demographics and will allow us to anlayse our colleague diversity data on an intersectional basis. We are currently building up our response rates and will restart reporting against our ethnicity targets once we have reached a completion rate of 65% or greater.
We're not stopping there
We have set new, stretching, targets for us to reach by the end of 2025 which include increasing our existing targets and we are adding in specific new targets for Ethnicity Senior Leadership representation.
Our Pay Gap Report outlines our actions to improve our gender and ethnicity balance even further, as well as information on our work to increase our age, social mobility, disability & neurodiversity and LGBTQ+ inclusion.
We’re proud to be an equal opportunity employer. We treat everyone equally, regardless of age, gender identity, neurodiversity, race and ethnicity, disability, sexual orientation, religion or socioeconomic background.
Whoever you are, whatever your background, if you want to do great work with great people, we want to hear from you.
Our DE&I activity covers our hiring process, career development and progression, our culture and much more. We have dedicated DE&I Leads for Social Mobility, Race & Ethnicity and Disability & Neurodiversity. Our Leads will be looking for further opportunities to champion DE&I across our business and embed it in to the way we do business, so that our colleague, customer and community propositions are consistent and inclusive.
We’re a purpose-led business with a deep interest in helping people live better longer lives. Naturally, we don’t just advocate for ageless employment. We walk the talk.
Our recruitment and employment practices are highly flexible and inclusive of all life stages. From school leavers to people choosing to ‘unretire’ and every stage in between, people of all ages are welcome.
We were one of the first organisations to sign the Age-friendly Employer Pledge. Our job ads are designed to appeal to all ages, lifelong learning opportunities actively promoted, and colleagues at all levels supported to switch roles to meet changes in their interests or circumstances. We've used our experience to help the Centre for Ageing Better develop their toolkit to minimise age bias in the recruitment process.
Our Group CEO, Andy Briggs, is the UK government's Business Champion for Older Workers and chairs the Centre for Ageing Better’s Business Leadership Group. Through his work, he encourages businesses to retain, re/train and recruit older workers by promoting the benefits of diverse workforces to employers. The Business Champion is a voluntary, unpaid, non-political appointment.
Our colleague networks play a key role in promoting inclusivity and connecting with our communities. Whoever you are and whatever you're passionate about, there is a group of like-minded colleagues eager to meet you.
Our networks include Pride for LGBTQ+ colleagues and allies, Mind Matters to promote understanding of mental health and Mosaic for supporting the development of Black, Asian and ethnic minority communities.
We want to be at the forefront of inclusive policy design. Furthering our reach to help not just our colleagues but the wider UK society and economy. We do this by aligning ourselves to organisations that support and model our ways of working. We're always looking for new opportunities for collaboration.
Race at Work demonstrates our commitment to improve racial equality, inclusion and diversity in the workplace. We do this by improving representation and progression of ethnic minority colleagues in the business.
A commitment by HM Treasury and signatory firms to work together to build a more balanced and fair financial services industry. We've pledged to improve female representation in our most senior roles and reduce our gender pay gap.
We signed the Social Mobility Pledge to demonstrate that social mobility is at the heart of our purpose. We are taking steps to boost opportunities and ensure that social mobility is not a barrier to entry or progression at Phoenix Group.
We signed the Armed Forces Convenant to show our commitment to treating those who serve or have served in the Armed Forces fairly.
