Reasons for our success:

1. We’ve proactively driven representation into our key succession roles, focusing on roles with a high level of influence and decision-making and in our areas that either lack representation and in those that are central to our business growth strategy.
2. We’ve invested in the development of our female talent, creating identifiable pathways and improving access to development resources that have been designed around the things our women told us they valued – flexible, bitesize and easy to digest.
3. Taken a multi-faceted data-led approach – understanding our female representation in our talent pipelines and development programmes, as well as analysing our performance and talent ratings processes to identify and address areas where bias may be influencing decision making which impacts future opportunities of women in our business

Our approach to driving balance within our business is to work closely with our people to prioritise initiatives that will make a genuine impact for them on a daily basis. A few of the initiatives we have introduced, and which we believe really support our success to date and our ongoing journey, include:

• The introduction of Health and Compassionate Leave – this is an overarching flexible policy that works as an extension to our sickness and family friendly policies. It allows colleagues absence for sickness or medical appointments for children or other dependants for whom staff have caring responsibilities. This reinforces our Believe It’s Possible ethos, supporting colleagues with their daily life challenges by taking away the need for ‘permission’ and giving autonomy. We regularly promote this topic to all of our colleagues and encourage everyone, not just a primary carer, to use the scheme. Data shows us this has been adopted by both genders. Feedback has been that access to these additional days, and the message that the initiative sends, is hugely positive and reduces stress during challenging periods.

• Improved Enhanced Maternity and Return to Work Policies for women – we introduced additional financial support for women who wish to return to work earlier than their statutory entitlement period by making generous monthly contributions towards the cost of childcare during this period. We want to reduce the childcare cost factor in the decision-making process for a women choosing how to continue her career. In addition, we have introduced a return to work bonus. For those who return we pay a bonus after 6 months. Data tells us that whilst getting back to a routine at work can feel daunting we know that after 6 months of doing so women are more likely to remain in the work force for the long term. This initiative therefore encourages women to take the leap getting back to work and we have had a really positive response from those who have taken it up.

• Double blind appraisals and awarding variable reward based on total compensation rather than percentage of salary – Both of these are shown to deal with unconscious bias. The double-blind appraisal means that managers do not see the employee self-assessment before making their own assessment. We have found that in general men are more likely to oversell themselves, women more likely to undersell themselves. When a manager does not see this review they avoid taking cues from a self-confident or self-deprecating self-assessment. Similarly, to award bonus as a percentage of salary is likely to compound differences in base salary, where we tend to find men have negotiated higher rates. By using total compensation this compounding difference is reduced, leading to a reduced gender pay gap.  

• A less formal initiative, but arguably the most impactful on a day to day basis, is Loud Parenting from the Top – COO and CFO, Head of BD, Head of Corporate Trust and other leaders within the business talk loudly about their parenting responsibilities. For example: conversations about parenting on the open plan office floor, during all staff meetings and on email out of office where specifics are given about where they are e.g. I am on annual leave celebrating my son’s birthday. I will be back online tomorrow and will come back to you then.

Our approach to driving balance within our business is to work closely with our people to prioritise initiatives that will make a genuine impact for them on a daily basis. A few of the initiatives we have introduced, and which we believe really support our success to date and our ongoing journey, include:

• The introduction of Health and Compassionate Leave – this is an overarching flexible policy that works as an extension to our sickness and family friendly policies. It allows colleagues absence for sickness or medical appointments for children or other dependants for whom staff have caring responsibilities. This reinforces our Believe It’s Possible ethos, supporting colleagues with their daily life challenges by taking away the need for ‘permission’ and giving autonomy. We regularly promote this topic to all of our colleagues and encourage everyone, not just a primary carer, to use the scheme. Data shows us this has been adopted by both genders. Feedback has been that access to these additional days, and the message that the initiative sends, is hugely positive and reduces stress during challenging periods.

• Improved Enhanced Maternity and Return to Work Policies for women – we introduced additional financial support for women who wish to return to work earlier than their statutory entitlement period by making generous monthly contributions towards the cost of childcare during this period. We want to reduce the childcare cost factor in the decision-making process for a women choosing how to continue her career. In addition, we have introduced a return to work bonus. For those who return we pay a bonus after 6 months. Data tells us that whilst getting back to a routine at work can feel daunting we know that after 6 months of doing so women are more likely to remain in the work force for the long term. This initiative therefore encourages women to take the leap getting back to work and we have had a really positive response from those who have taken it up.

• Double blind appraisals and awarding variable reward based on total compensation rather than percentage of salary – Both of these are shown to deal with unconscious bias. The double-blind appraisal means that managers do not see the employee self-assessment before making their own assessment. We have found that in general men are more likely to oversell themselves, women more likely to undersell themselves. When a manager does not see this review they avoid taking cues from a self-confident or self-deprecating self-assessment. Similarly, to award bonus as a percentage of salary is likely to compound differences in base salary, where we tend to find men have negotiated higher rates. By using total compensation this compounding difference is reduced, leading to a reduced gender pay gap.  

• A less formal initiative, but arguably the most impactful on a day to day basis, is Loud Parenting from the Top – COO and CFO, Head of BD, Head of Corporate Trust and other leaders within the business talk loudly about their parenting responsibilities. For example: conversations about parenting on the open plan office floor, during all staff meetings and on email out of office where specifics are given about where they are e.g. I am on annual leave celebrating my son’s birthday. I will be back online tomorrow and will come back to you then.

Reasons for our success:

• Internally, having a clear, measurable goal, that was linked to performance was a galvanising move for our most senior executives. Whilst the agenda had received sponsorship and support from the top in the past, these clear goals gave the organisation much greater focus – and the needed shift from ‘nice to do’ to business imperative.
• Having an inclusive culture is enabling us to build a diverse workforce where all colleagues can be themselves. Inclusion and diversity is relevant to everyone.

Why gender balance representation is important

Gender balance isn’t just important – it’s a strategic imperative that strengthens our culture, sharpens our competitive edge, and ensures sustained success.

Diverse teams with a strong sense of belonging are essential for unlocking our full potential and driving innovation in a rapidly changing world. In the same way, diverse leadership and decision-making bodies prevent “groupthink”, enrich discussions, and enhance competitiveness. Our commitment to creating balanced teams, reflects our core values and strategic goals. It allows us to understand and meet the diverse needs of our clients, promote financial inclusion, and enhance performance. 

What top 3 initiatives made a real difference

Achieving gender balance is a goal we’ve been pursuing with passion for several years. We’ve made significant strides and are proud to share the top three that we believe make a real difference. 

1. Our commitment to actively and consciously fostering a culture of belonging. This is an ‘always on’ initiative, meaning we consistently consider the working environment we create in our day-to-day interactions within teams, across business areas, and during larger events such as Townhalls. We continuously address the vital question in our collaborative efforts: Are we creating environments where colleagues feel a sense of belonging and are empowered to perform at their best? It’s part of the leaders’ role to deliberately activate a culture of belonging with their teams and business areas. 

To foster an environment of belonging and high performance, we also pay attention to a wider set of cultural principles:

• Creating a flat organisational structure that encourages accessibility and minimises power distance, enabling diverse voices to be heard.
• Prioritising relationships to foster authenticity and ease, which supports performance.
• Implementing collaborative decision-making processes to ensure there is ample opportunity for rich discussion and debate.

These principles are integral to our journey as a purpose-led organisation. We strive to create enduring worth and embed care in all our endeavours.

2. Our flagship immersive and experiential two-day workshop, ‘Zebra Crossing’, has been a game-changer. This isn’t your run-of-the-mill training session; it’s a deep dive into the heart of diversity and inclusion. By tackling themes like rank, power, and privilege head-on, we’ve opened up a space for honest reflection and dialogue. Participants walk away with heightened awareness of their own privileges and a newfound curiosity about the differences that make each of us unique. They’re not just ready to engage in tough conversations; they’re empowered to act as catalysts for a more inclusive workplace. The feedback is indisputably impressive: 98.5% of attendees affirm that the ‘Zebra Crossing’ programme equips them with the language, understanding, and empathy to navigate the complexities of diversity and inclusion; many colleagues describing it as “life changing.”
3. Our Allies Programme – designed to integrate and embed BID (Belonging, Inclusion, and Diversity) principles deeply within our organisation. This programme serves as a comprehensive educational journey, empowering individuals to become active supporters and advocates for underrepresented groups within our company.

The benefits are multifaceted. Participants engage in two interactive live sessions complemented by independent learning, reflective exercises, and collaborative “buddy work”. This structure creates a personal and professional development path that equips our people with the knowledge and skills to recognise and address power dynamics, use inclusive language, identify and counteract micro-aggressions, and engage in meaningful conversations that challenge non-inclusive practices.

So far, over 100 allies have successfully completed the programme, and we are pleased to offer additional programmes throughout 2024. The feedback has been overwhelmingly positive, with one participant highlighting the programme’s lasting impact: “The great thing about the programme is that that’s not where it stops. You’re set tasks to complete each week alongside your Allies buddy, with whom you are paired. It encourages further conversations, not only within the cohort and your buddy, but with your team, your friends, and family.”

The Allies Programme not only enriches participants on a personal level, but also brings tangible benefits to our business. It creates a more inclusive workplace culture, enhances team dynamics, and demonstrates our commitment to diversity and equality. By fostering a network of informed and proactive allies, we are building a stronger, more cohesive, and innovative environment.

Focussing on these initiatives together and ensuring that our policies, and processes promote an equitable environment, constitute the core of our strategy for attaining gender parity. These measures go beyond mere initiatives; they showcase our commitment to integrating belonging, inclusion and diversity across all aspects of our organisation.

Participating in the BiB awards is another opportunity to reflect on the progress we’ve made towards gender parity but more importantly the work that still needs to be done. It’s an opportunity to facilitate open discussions and to share insights amongst businesses on how we can all bring about meaningful change."[/su]

Having diverse teams and achieving gender balance at all levels are both crucial to the success of our business.  When we bring diverse talent around the table, we are more creative and better equipped to provide our clients with exceptional solutions to complex problems. And, working in a diverse team makes our firm an inspiring and fun place to work, where we can all learn from and support each other. 

Whilst we have been able to recruit at least 50% women at the junior levels, we have not seen proportional progression through to leadership positions at the firm. Setting targets to increase the number of women in leadership roles is part of our gender diversity strategy and we’ve also introduced several initiatives over the last decade to build our female talent pipeline. 

What 3 top initiatives have made a real difference?

Three initiatives which have made a real difference to our gender balance are:

1. Women’s Leadership Programme

Our Women’s Leadership Programme (WLP) is a global career development programme aimed at the next generation of female talent who aspire to leadership positions across the firm. It provides participants with the opportunity to: 

• work on clearly articulating their career aspirations and goals;
• gain access to networking opportunities with peers and leaders of the firm 
• work with an external coach; and
• be sponsored and mentored by a partner from a different office and practice/function.

It has had a real impact on improving our gender balance - 70% of all female Partner elections since 2014 have been WLP alumnae and now 46% of our women Partners globally came through the programme.  Building on this success, we have recently expanded the participants to include clients and our high-performing Business Teams colleagues.

1. New Parent Leave Policy 

Supporting and encouraging men to take longer parental leave challenges traditional gender roles and expectations and supports women to return to work and progress their careers.  That’s why we offer 12 weeks’ New Parent Leave at full pay to the partner of someone who is having a child, whether by birth or as a result of an adoption. Feedback indicates that our fathers highly value the longer leave and they are more likely to take a shared role in managing family responsibilities, become male allies and contribute to our culture of inclusion as a result.

1. Parental Transition Coaching and Adjustment Days 

We also recognise that parents returning to work after a period of extended family leave can find it challenging to juggle their career with caring responsibilities.  To make this a smoother transition, we offer one-to-one parental transition coaching for new parents of any gender, and 10 Adjustment Days at full pay to enable colleagues to ramp down into or ramp up from a period of family leave.  The coaching covers topics such as balancing dual roles at work and home whilst sustaining career momentum. Feedback indicates that the coaching helps new parents return to work with confidence: “My coach was brilliant, so helpful to have someone independent and experienced to discuss reintegration back into the workplace at a particularly vulnerable time.”

Reasons for our success:

1. We’ve proactively driven representation into our key succession roles, focusing on roles with a high level of influence and decision-making and in our areas that either lack representation and in those that are central to our business growth strategy.
2. We’ve invested in the development of our female talent, creating identifiable pathways and improving access to development resources that have been designed around the things our women told us they valued – flexible, bitesize and easy to digest.
3. Taken a multi-faceted data-led approach – understanding our female representation in our talent pipelines and development programmes, as well as analysing our performance and talent ratings processes to identify and address areas where bias may be influencing decision making which impacts future opportunities of women in our business