We are currently signatories to two charters which support our focus on representation.
Race at Work Charter
7IM has signed up to the Race at Work Charter, as a signatory of the Charter, we have committed to:
Capturing Data: As a firm we have now started capturing ethnicity data of existing staff and applicants in order to establish a baseline and monitor progress of the firm. We hope to use this information to begin reporting on the ethnicity pay gap within 7IM.
Bullying & Harassment: 7IM has zero tolerance for bullying and harassment within the firm; as well as published policies and staff training on respecting diversity, we also have commitment from our Executive Committee members regarding this.
Equality in the workplace: 7IM supports equality in the workplace, our Managers have received relevant D&I training and it is high on the agenda for our Executive Committee.
Taking Action: Our D&I strategy sets out the actions we are taking in order to attract, develop and retain individuals from not only ethnic minorities but also of other diverse backgrounds.
- Senior Accountability: The responsible Executive Committee member to the Race at Work Charter is Kate Hughes, Chief People Officer.
Women in Finance Charter
Alongside our Diversity & Inclusion efforts, 7IM has become an official signatory of the HM Treasury Women in Finance Charter, a UK government initiative to address gender balance across all UK Financial Services Firms.
Set targets: By January 2024, we aim to have 45% women in our workforce; 33% women in Senior Management roles (Executive Committee).
Progress: When applying to become a signatory of the Charter in November 2020, we had 38% women in our organisation; 30% women in Senior Management roles (Executive Committee).
Initiatives to help achieve our targets: In order to help us strengthen the female talent pipelines at all levels, we are committing to the following initiatives:
Formation of the Gender Equality Network (GEN) which will be a subgroup of the D&I Committee to specifically engage with colleagues on issues of gender in the workplace.
Diverse recruitment processes such as anonymised recruitment applications for first stage interviews and mandatory fair selection / unconscious bias training for all hiring managers.
Outreach work with strategic partners to encourage women to pursue Financial Services careers.
Modernise our working culture and practices so that they are more family friendly.
Focus on creating an inclusive culture where women are supported and empowered and where barriers are challenged that prevent women from progressing within the firm.
We intentionally set ourselves a stretching target with the goal of making significant progress to parity. With an 8% increase required, and having achieved 4% this year, we recognise that we are unlikely to reach our target of 45% by 2023, but believe we will reach in excess of 40%.
Senior Accountability: The responsible Executive Committee member to HM Women in Finance Charter is Kate Hughes, Chief People Officer.