Women in Finance

An empowering and equal working environment

Our statement

At Simply Business, gender equality is an integral part of our culture and our business strategy. We know that having a diverse workforce creates a more fulfilling and engaging working environment, allows us to relate to our customers more effectively, and makes us more successful as an organisation. We actively embrace this by reflecting different perspectives, thinking and values in everything we do.

We are proud to have signed up to HM Treasury’s Women in Finance Charter and are fully committed to creating a more balanced and fair industry. As a growing international business, our senior management has welcomed taking accountability for gender diversity. We will work together to agree a set of commitments that will challenge us to continuously strive for diversity and actively introduce initiatives that will enhance awareness.

Our commitment

The financial services industry, and particularly the insurance sector, has a poor track record of ensuring gender diversity. We’re changing that, and gender equality is an integral part of our culture and business strategy. But it’s time we put it in writing.

As part of our commitment to the Charter we will publish our key measures of success every year. This will show how we are driving this positive change.

The following are some of the ways we encourage diversity in the workplace. These not only support our commitment to the Women in Finance Charter but also our overall commitment to having a diverse team across all levels at Simply Business.

Measures of success

• In 2017 36% of our management team were women, a number we intend to maintain or increase by 2020. As we enter 2018, 40% of our management team members are women which demonstrates a positive intent to increase our representation of women in leadership positions.

• We will share our plans to positively influence a more diverse company board, with a fairer representation of women.

• When hiring into our management team, we will aim to interview an equal number of men and women and have a fair representation of women on interview panels.

• During 2017 we put succession plans in place for all of our Simply Business Management Team (SBMT) to help us strive towards having 50/50 men and women ready to succeed management roles by 2020. Throughout 2018 we will continue to focus on succession, helping ensure we have a fair representation of men and women in our leadership talent pipeline.

• If we slip below having 30% women on our management team, our Executive Directors will have their bonuses docked.

Working parents

38% of employed women have dependent children, so ensuring working life won’t clash with childcare needs is really important to us. Here’s what a member of our team had to say:

“Having the flexibility to work from home is fantastic, especially because you’re given all the tools to take with you, so you can do your work in exactly the same way you would in the office.

“The option to choose childcare vouchers as a benefit is really helpful, and such a money-saver as they come out before tax. I think the company culture is what really makes it, though. Everyone is very accommodating and understanding. There’s no sense of guilt or shame if you have childcare-related issues – I never feel like I have to choose between my son and my job.”

Assessing talent

As part of becoming a member of Women in Finance, we are aiming to present a 50/50 balanced slate at interview for all leadership positions, and intend to continue this at all recruitment levels. We will also have a fair representation of women on our interview panels for all posts. This will ensure that women are fairly represented when interviewing and we are hiring diverse teams throughout our business.

We strive to create a supportive environment for career development that rewards merit regardless of who you are. We want to ensure all opportunities are transparent to our people and empower everyone to learn and progress.

Our gender pay gap

In line with new legislation, we have published our Gender Pay Gap report for 2016-17 which you can read here

At 13% our salary gap is lower than many UK organisations but we need to go further. We’re committed to creating a more inclusive place to work, where everyone can thrive.

Feeling safe in the workplace

Workplace sexual harassment is an unfortunate reality for many women – one in 10 women in the UK have reported being sexually harassed at work. We actively foster a working environment where sexual harassment isn’t tolerated, but should the worst happen, our female employees know they will be supported. We have a comprehensive sexual harassment policy which our employees can easily access on our company intranet.