As one of the founding signatories of the Women in Finance Charter launched by HM Treasury we are delighted to report on our progress so far.
When ionStar signed up to the Charter in March 2016 we had 50% female representation on our board. As of 30th September 2018, we have 50% female representation on our board. We continue to be on track with regards to this internal Charter target by our deadline however we are mindful that we must continue to focus on this target in order to maintain diversity at board level.
When we signed the Charter we set internal targets. There were:
- To ensure our consultant network is at least 50% female, allowing for a 10% tolerance.
- To bring 20 new consultants into the network each year of which at least 50% will be female. We want to encourage and support more females to return to or remain in financial services on a flexible basis.
- To initiate a mentoring system to allow all consultants, male or female, to discuss and think through issues regarding their careers and ultimate goals within a supportive and confidential environment.
- To continue to develop our consultants through our Personal Development Programme which inspires and empowers individuals to achieve their goals.
- To continue to incentivise (via a voucher scheme) our consultants who bring in other consultants and help us build a diverse network.
We are delighted to report that we have met all of the above external targets, with the exception of one. Our network is 62.5% female. We have launched a mentoring programme for the benefit of our consultants. Our personal development programme continues to support professionals and we encourage the expansion of our diverse network via an incentive scheme. We have not been able to expand the network at a rate of 20 consultants a year. This was an ambitious target which we have not seen demand for.
We remain committed to fully supporting the Charter and hold diversity front of mind when thinking about board changes and when onboarding consultants. It is important to us that we facilitate female professionals returning and remaining in the industry. This is one of the key cornerstones that ionStar is based on.
“In order to keep turning that dial we need to focus and build on the excellent groundwork that has been carried out so far. I remain optimistic that by having diversity firmly at the front of our minds we will see significant change in a shorter time frame and will reap the financial benefits but, more importantly, the human benefits as well.”
Liz Hughes, Founder