Diversity and Inclusion
Global companies doing business in today's world must create a diverse and inclusive workplace as part of their strategy. UniCredit is proud of its decade-long commitment to empower its highly diverse staff by creating an equal opportunities workplace where people of all ages, genders and cultural backgrounds can contribute to decision making.
UniCredit's diversity and inclusion targets were identified in 2009 through stakeholder engagement and have since been prioritised by our management as materially important to business strategy, and are therefore actively monitored. The bank's Global Policy for Gender Equality in 2013 established a framework for creating a level playing field throughout the organisation as a way of generating higher value. To reinforce our diversity and inclusion commitment, we created the position of Group Diversity and Inclusion Manager in 2018 who works alongside our CEO and other top executives. In addition, by signing the HM Treasury's Women in Finance Charter, the bank has committed to doubling its level of women in senior management roles at Group level to 20% by 2022.
Diversity alone is not enough. Creating an inclusive culture where all voices are heard unlocks performance and job satisfaction. We therefore recognise that inclusion is strategic for our Bank to remain a pan-European winner. It underpins UniCredit's guiding principles of Ethics and Respect. UniCredit expects its employees to contribute to creating and maintaining a work environment that is respectful and non-intimidating, and where differences in age, race, nationality, religion, gender and sexual orientation are embraced and promoted.
Our diversity and inclusion policies are a cornerstone of the human capital strategy of our business model, which has successfully delivered value creation over time. Promoting gender equality and inclusion is a way to improve the well-being of individuals and make our business strategies more sustainable in the long term. Serving our customers is our top priority, and to do this we rely on our highly qualified and committed employees who excel at working together.
UniCredit joins the Valuable 500
UniCredit has joined the Valuable 500 - a global movement focused on putting disability themes on the business leadership agenda. UniCredit's commitment was signed at Group level by CEO Jean Pierre Mustier.
UniCredit has been investing in disability management for more than ten years, including specific training for managers, internal engagement initiatives, partnerships with relevant external organisations and dedicated corporate policies in line with the Joint Declaration on "Equal Opportunities and Non-Discrimination" signed in 2009.
In addition, UniCredit appointed a Diversity and Inclusion Manager for the Group in 2018, has set up a Group level Diversity and Inclusion Committee that includes the CEO and has dedicated Disability Managers in place in both Italy and Austria.
The Bank is currently strongly focused on developing its digital accessibility for both colleagues and customers as a central part of the commitment to become increasingly inclusive and diverse with the disability topic firmly on the business agenda. This includes a fully accessible intranet platform as well as ensuring that all banking services are available through remote channels.
The Valuable 500 unites companies and leaders committed to putting disability inclusion on their business leadership agenda. The final 500 leaders part of this movement will be announced at the United Nations General Assembly in 2020.
UniCredit makes concrete progress on diversity and inclusion
UniCredit is proud to be included for the second time in Bloomberg's Gender-Equality Index - GEI.
Sara Gay, Head of Learning and Executive Development, Global Head of Diversity and Inclusion at UniCredit, commented:
"Whilst we remain conscious of the journey ahead, we are proud to say that UniCredit is making concrete progress in increasing female representation in its senior management as well as executive management roles. We will continue to focus on diversity and inclusion with a strong commitment and are further encouraged by the inclusion in this year's Bloomberg's Gender-Equality Index alongside other companies that are setting a clear example to advance women in the workplace. This is an important acknowledgement for us that shows our commitment to ensuring that we strengthen our Group-wide pipeline of talented women in line with our pledge for a more diverse leadership team."
UniCredit is committed to ensuring a fair and positive work environment for all employees with a strong focus on diversity and inclusion. In 2018 the bank joined the Women in Finance Charter setting itself the target of 20 per cent of women in senior management by 2022. Last year UniCredit strengthened this important pledge with a further target of 30 per cent of women in senior management by 2023.
The bank's commitments are supported by concrete Group-wide initiatives with ongoing monitoring. In 2019 the first ever cross-country, cross-industry International Mentoring Program WeFly was launched to support female middle manager colleagues in their professional growth. Dedicated Inclusive Leadership Programs as well as Unconscious Bias training have been rolled out to all managers across the Group to ensure they have the right tools to help continually create a more inclusive working environment.
UniCredit has also introduced policies on Harassment and Anti-Retaliation to promote an environment where all employees feel comfortable in open and honest communication. Furthermore, since 2017, all top managers have a specific set of KPIs related to "People" covering gender balance and gender diversity initiatives as tangible proof of the strong commitment and accountability of our senior executives to diversity and inclusion.
UniCredit joins Women in Finance Charter
In 2018, UniCredit joined the HM Treasury's Women in Finance Charter, an important step in our journey towards more balanced gender distribution throughout the organisation.
The Charter is a commitment by all its signatories to work together to build a more balanced and fair industry. Firms that sign up to this Charter are pledging to be the best businesses in the sector by committing to take four actions:
- Appoint one member of the senior executive team who is responsible and accountable for gender diversity and inclusion.
- Set and publish internal targets for gender diversity in senior management.
- Have an intention to ensure that the pay of the senior executive team is linked to delivery against these gender diversity targets.
- Publish progress annually against these targets on the website.
Gender Pay Gap Report
At UniCredit, gender balance is a priority.
Our ambition is to build an increasingly diverse and inclusive workplace reflective of our culture and society as a whole. We are focused on attracting, retaining and developing people with the talents, skills and experiences that help them and us succeed.
We support the publication of gender pay gap data.
Gender pay gap legislation has the purpose of addressing the imbalance in earnings between men and women in the workplace and was introduced in Great Britain in 2017 (England, Wales and Scotland) for employers with more than 250 employees. Transparency is very important to us and we support the publication of gender pay gap information. We believe that it is a key step towards making improvements to close the gender pay gap.
Not just one day, but every day: #inclusionmatters
Talent attraction is higher for the companies that value diversity. Combining culturally diverse backgrounds can increase creativity in product development, and therefore, enhance a company's capacity to meet consumer needs.
Diversity alone is not enough. Inclusion is about leveraging our differences and using them to solve problems better, become more innovative and perform more effectively. Creating an inclusive culture unlocks performance, making sure all voices are heard and companies optimise the "diversity of thoughts".
All this is why UniCredit believes in inclusion as a strategic business driver and is committed to creating an inclusive environment for our diversified workforce, where everyone with the capability to excel can do so.
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UniCredit Diversity and Inclusion week
UniCredit is enriched by its diverse workforce and committed to creating an inclusive working environment where all talents, skills and experiences are valued. Different points of view need to be openly expressed so that we remain a pan-European winner.
In line with the Joint Declaration on "Equal Opportunities and Non Discrimination" (signed in 2009), UniCredit reiterates the strategic importance of creating a culture of inclusion.
A whole week is dedicated to Diversity and Inclusion topic, because we firmly believe that diversity is key to innovation and growth. Different points of view bring fresh perspectives, original approaches and new solutions. For diversity to work, a working environment where all differences are respected is essential.
UniCredit for Women: "Our value matters. Inclusion matters"
At UniCredit, we are fully committed to promoting and enhancing women talent, as well as a broader culture of inclusion, not only towards our own people through global development programmes, but also by supporting women in business and all activities that offer services to families.
This is because a more inclusive and equal society that values women's skills and expertise can generate more growth and prosperity for all.
To mark International Women's Day, we take stock of our most important achievements regarding gender equality and inclusion.
Projects and initiatives archive
Understanding Unconscious Bias
WeFly Your career to the next level
Happy International Women's Day!