Gender @ Tesco Bank

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've 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 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.

We know we still have work to do and we’ve focused our efforts on three core areas that will help us make real progress – supporting and attracting talented women, equipping and empowering our leaders and sustaining an inclusive culture. 

You can find out more about the actions we're taking in our gender pay report.

Women in Finance Charter Annual Review 2022

Since signing the Women in Finance (WIF) Charter in October 2017, we have made good progress at Tesco Bank with female representation, but we know there is more to be done.

During this period, we’ve increased female representation across all senior levels of our business, and we’ve exceeded the targets we set for Executive Committee and Board female representation (based on 2021 target measures):

  • Board from 7% to 41%
  • Executive Committee from 11% to 40%
  • All Director Level from 3% to 21%

In alignment with Tesco Group, 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.

This new 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.

We are making good progress against our new targets having reached 32% female representation in this leadership group against our 35% 2025 target deadline.

We continue to challenge what we do and identify opportunities to truly make Tesco Bank a place where all colleagues have opportunities to progress.

Women at Tesco Bank Network 

Each of our Colleague Networks at Tesco Bank work towards our strategy of: increasing representation, role modelling inclusion and using our voice, working to elevate the voices of our underrepresented colleagues and share their stories.

This year our Women at Tesco Bank Colleague Network have had a number of achievements including:

  • Introduced a speaker series with our Tesco TU Non Exec Directors focused on “lessons to your younger self”
  • Launched a flexible working poll for our network members, delving into their understanding of the TB flex working policy, how empowered they felt to make requests, manager support, role modelling, and whether our line managers felt equipped. Plan put in place with our CE team based on the feedback from colleagues, including role modelling, bitesize mentoring, and collaboration with the charity Working Families.
  • Launched a pilot “bitesize mentoring” programme for W@T network members enabling mentees to focused 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.