The international business of Federated Hermes is fully committed to supporting the Women in Finance Charter and its objective of attaining gender balance across all levels of financial services. We recognise diversity in our workforce is one of our greatest assets, and an inclusive culture enables our employees to thrive, allowing us to continue to grow as a strong and innovative organisation, delivering excellence for our clients responsibly.
We are delighted to report that we are now within range of each of the gender diversity targets we set in 2016. The success to date is in part due to several initiatives throughout the firm as well as the number of Board members and gender composition of our Board increasing following the Federated Investors transaction.
As we are also coming to the end of our 2018 target period and recognise there is still work to be done, our Board has established new targets as set out below which are the minimum we hope to achieve while ultimately working towards gender parity.
||New 2021 Target
In order to achieve our 2021 targets, and to make progress in all areas of diversity, we have endorsed an inclusion strategy which sets forth a number of objectives and actions in support of our goals including:
- Recruitment – Analysing our recruitment processes to assess areas for improving gender diversity in recruitment and widening access to the asset management industry.
- Transparency – Increasing transparency in our processes and policies including, for example, our flexible working policy and advancement process.
- Data – Developing more robust data collection processes which will allow us to analyse diversity data, including gender and other characteristics, across the employee lifecycle and assess areas for improving diversity in retention and advancement.
- Communications – Increasing communications and engagement internally around our inclusion strategy, including our gender diversity aims.
- Career Progression Plans – Developing career progression plans which will enable us to assess and develop our future workforce.
In addition to the above, we have continued with the work we have already established including:
- Training – The Executive Committee and line managers have attended Unconscious Bias and Employee Relations training to understand and mitigate decision-making risks. We are now rolling this out to all staff.
- Women’s Network – Established a Women’s Network, led by senior women from across the business, to engage, communicate with and support female members of staff.
- Inclusion Partner – Appointment of an Inclusion Partner to ensure specific and appropriate guidance and support across a range of areas.
- Returners programme – We are piloting a returners coaching programme for staff who have been out on long-term absence, including maternity, parental or adoption leave.
- Unity – Hermes Unity, our employee network which is dedicated to promoting an open environment for people to be themselves, offers a wide range of events which allow all members of staff to develop individually and collectively as an organisation.
- Memberships – We have been active members of the 30% Club in the UK, supporting the goal of achieving a minimum of 30% women on FTSE 100 Boards through our engagements with investee companies. We have also become members of Real Estate Balance and joined the Employers Network for Equality and Inclusion.
- Mentoring programme – We support all levels of staff across the organisation who express interest in or would benefit from a mentor as part of their future development.