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.
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.
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 tangible progress for a more diverse leadership pipeline
As part of our commitment to diversity and inclusion, we continue to actively work on strengthening the Group-wide pipeline of talented women. While there is still a long way to go, we are proud to say that UniCredit is making real progress in terms of recruitment and promotions.
In 2019, 55 per cent of new hires were women and, even more importantly, 38 per cent of new Executive Vice Presidents (EVPs) were female, supporting our pledge to build a tangible pipeline for a more gender diverse leadership team while providing new role models for the younger generation.
In addition, our Millennial Board consisting of employees from 22-32 years of age, working to challenge pre-conceived patterns and raise awareness of the views of new generations (on banking topics), proposing innovative ideas and solutions, is 60 per cent female. This serves to underpin UniCredit's attractiveness to ambitious, smart young women who will become key members of the banking industry of tomorrow.
These results show that our efforts to become more diverse are having a real impact. We will continue to learn and work hard on our diversity profile, always endeavouring to do the right thing!
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.
UniCredit Diversity and Inclusion week 2019
On October 14, 2019 UniCredit launched its first Diversity and Inclusion Week, 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.
For one whole week, UniCredit employees explored the topic, in line with our two values "Ethics and Respect" and our guiding principle "Do the right thing!".
75 initiatives in 15 markets were organised including workshops, testimonials and training courses, to listen to our colleagues and their families, industry experts and non-governmental organisations.