Creating a genuinely diverse and inclusive workplace means being a gender-balanced employer. We recognise the benefit that a diverse senior management team brings which is why we’ve signed up to HM Treasury’s Women in Finance Charter, which aims to deliver gender balance at all levels in the financial services industry.
To meet that commitment, we set three targets to improve female representation at the highest levels of our business:
- At least one third of our Executive Committee members to be female by the end of 2022.At least one third of our Executive Committee members to be female by the end of 2022.
- At least one third of our Board members to be female by the end of 2022.At least one third of our Board members to be female by the end of 2022.
- At least one third of our Directors to be female by the end of 2022.At least one third of our Directors to be female by the end of 2022.
We know we still have work to do and we’ve focused our efforts on the actions that will help us make real progress – supporting and attracting talented women, equipping and empowering our leaders and sustaining an inclusive culture.
Women in Finance Charter Annual Review 2024
Since signing the Women in Finance (WIF) Charter in October 2017, we have made continued progress at Tesco Bank with women's representation.
- Board - 7% to 50%Board - 7% to 50%
- Executive Committee - 11% to 45%Executive Committee - 11% to 45%
- Director - 3% to 47%Director - 3% to 47%
In 2022 we reset our female diversity targets to the following:
Increase female representation of our leadership team to 35% by 2025 with a stretch target of 40% if reached early.
Our target measures our progress in a broader population of our colleagues, and we have defined our Executive Committee, Directors, and Heads of Department as the most senior levels in the organisation who own decision-making authority and influence.
In August 2023 we met our female diversity target ahead of our 2025 deadline, however we have more to do to achieve our stretch target of 40%.
As of August 2024, we have 38% female representation within our leadership team. We believe that we’re on track to meet our stretch target of 40% by our deadline of 2025.
We continue to challenge what we do and identify opportunities to truly make Tesco Bank a place where all colleagues have opportunities to progress.
*This information relates to Tesco Personal Finance plc as of August 2024, before the sale of Tesco Bank’s banking business to Barclays on 1st November 2024. You can find out more about Barclays progress on gender representation by visiting the Barclays website.
Women at Tesco Bank Network
Our Women at Tesco Bank Colleague Network have had a number of achievements including:
- Introducing a speaker series focused on “lessons to your younger self”.Introducing a speaker series focused on “lessons to your younger self”.
- Launching a flexible working poll for our network members, delving into their understanding of the Tesco Bank flex working policy, how empowered they felt to make requests, manager support, role modelling, and whether our line managers felt equipped. Plans were then put in place with our People team based on the feedback from colleagues, including role modelling, bitesize mentoring, and collaboration with the charity Working Families.Launching a flexible working poll for our network members, delving into their understanding of the Tesco Bank flex working policy, how empowered they felt to make requests, manager support, role modelling, and whether our line managers felt equipped. Plans were then put in place with our People team based on the feedback from colleagues, including role modelling, bitesize mentoring, and collaboration with the charity Working Families.
- Launching a pilot “bitesize mentoring” programme for W@T network members enabling mentees to focus on a short term goal, such as interview preparation, CV writing, conflict management, embedding in a new team, etc. Mentees are matched with a mentor who has a strength in that particular area.Launching a pilot “bitesize mentoring” programme for W@T network members enabling mentees to focus on a short term goal, such as interview preparation, CV writing, conflict management, embedding in a new team, etc. Mentees are matched with a mentor who has a strength in that particular area.