HM Treasury’s Women in Finance Charter is a commitment to improve gender balance across the financial services sector, at every level.
The Charter commits firms to supporting the progression of women into senior roles in the financial services sector. It requires firms to publicly report on progress against targets to support this progression.
By signing up, organisations pledge to promote gender diversity by:
The Women in Finance Charter is focused on gender diversity, but our ambitions are much bigger.
Many of the Charter’s recommendations are about fairness, equality and inclusion for everyone.
With that in mind, we aim to develop the actions and initiatives that improve diversity but which also create a truly inclusive workplace community, where opportunities for development and progression are accessible to all and respect is embedded in all our interactions.
We are determined to continue to build an environment where everyone’s views can be heard, and contributions are valued. We’re seeing the progression of talented women across the business through the organisation and will now be supporting the Charter across the Aldermore Group including MotoNovo Finance (MNF).
We’ve changed the way we operate around diversity and inclusion, by setting up an umbrella agenda supported by senior leaders across our four core areas of focus. These are:
We’re fully committed to making a difference, to building a culture that makes Aldermore an even better place to work and where colleagues are backed to be their best.
A diverse and inclusive workforce is not only the right thing to do, but it also drives innovation, productivity, and overall business success. As of June 2024, we've made strides in increasing female representation, with women making up 38% of senior management positions. Female representation on the Executive Committee has risen to 25%, and on the Board, to 28%. To further advance our gender equality goals, we've implemented several key initiatives this year:
Mentorship and sponsorship: We are entering our fourth year of partnering with the 30% Club, a cross-company mentoring programme that supports efforts to increase female representation in leadership by providing women with mentorship, career guidance, and networking opportunities. It empowers women to build skills and confidence, accelerating their career progression. Additionally, a gender balanced group of 20 senior leaders experienced executive development programmes and coaching during FY 2024.
Celebrating women's achievements: Our women's employee network hosted Aldermore’s internal Women of the Year Awards, recognising and celebrating the contributions of female colleagues and male allies. We also proudly sponsored the Women of the Year Awards in the UK, which highlights and celebrates the achievements of exceptional women across all areas of society and the business community.
Supporting work-life balance and wellbeing: We've maintained our commitment to initiatives like parental returners' events and menopause awareness. Additionally, our seven Employee Resource Groups have collaborated to share personal stories and promote inclusive policies to ensure colleagues understand the support available during important life events.
While we've made notable progress, we recognise the importance of sustained effort. To accelerate our journey towards a more gender-balanced senior leadership community, we've set ambitious goals for the next two years: targeting 40% female representation in senior management positions by FY 2025 and aiming for 50% female representation by FY 2026. To achieve these goals, we'll focus on developing our mid-level management talent pool, ensuring that female colleagues have the opportunities and support to advance their careers.
For more detailed information on our diversity and inclusion efforts, please refer to our Report to Society.
