The Government has published the Women in Finance Charter Annual Review 2024.

 

The FLA has been a signatory to the Charter for a number of years.

 

Key findings

 

  • In line with previous years, there has been a 1% increase of women in senior positions. The average is now at 36% (2024: 35%).
  • 63% of signatories increased the proportion of senior women over the past year.
  • 36% of signatories met or exceeded their targets in 2024.
  • 40 signatories out of the 60 which had a deadline year in 2024 met their target. Of the 20 that missed, 13 were very close, within just five appointments of hitting their targets.

 

  • UK banks and insurers lead the way: Of the four largest signatory sector groups, the UK banks and insurers are still leading, despite a flat 2024. Although the four sectors have moved at a similar pace over the past seven years, the UK banks and insurers have maintained their advantage over the investment managers and global / investment banks.

 

  • Shift in actions focus to acceleration: While actions related to recruitment are still most frequently mentioned, 82% of signatories are increasingly focused on retention, behaviour and culture, and embedding D&I into business.

 

  • Expanding diversity data: Signatories are extending diversity data collection, with 89% capturing additional diversity data, up from 76% in 2021, and ethnicity, disability and sexual orientation are the most commonly collected datapoints. A third of firms are also analysing the data across diversity dimensions to understand potential intersectional impacts.

 

  • Role of the accountable executive: Accountability is sitting at the highest levels of seniority, with almost all (97%) accountable executives (AE) sitting on the executive committee. However, there are signs of a growing trend for the AE role to revert to women and HR.

 

  • Linking to pay: In 2024, 74% of signatories reported that linking diversity to executive pay has been effective, up from 70% in 2023. Almost half (43%) of firms with a link to pay also apply it beyond the executive team.

 

We will be discussing these findings with members at the next EDI Forum meeting on 1 July 2025

automobilemag.co.uk
Automobile Magazine UK

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