Diversity and Inclusion
Improving diversity and inclusion at Zurich is one of the key priorities for me and my Executive Team. We all have personal targets to attract, retain and promote a diverse workforce. We are doing this because we believe that improving diversity and inclusion is critical to our business performance. It enables us to attract and retain the best talent, reduces risk, improves decision making and delivers more innovative solutions for our customers. But we also do it because it is simply the right thing to do. We are also working hard to ensure that we are an inclusive organisation, spearheading the industry’s Inclusive Behaviours Pledge and rolling out a new ‘Dignity@Work’ approach for our employees to ensure they are clear on their rights and responsibilities when it comes to inclusion. We acknowledge that we have more work to do but we believe that the interventions we have adopted are market-leading, and will result in improved diversity at all levels.
Tulsi Naidu, UK CEO
Diversity and inclusion is one of Zurich’s key people priorities. We are focused on improving the diversity of our workforce and ensuring that - once recruited - everyone feels able to bring their whole selves to work. We demonstrate this commitment through a number of initiatives:
- Holder of EDGE certification (focused on improving gender equality)
- Named as only insurer in Stonewall Top Global Employers list 2018
- Participant and sponsor of the insurance industry’s festival of diversity, ‘Dive In’
- Signatory of the Government’s Women in Finance Charter. Our commitment is that 35% of UK senior management (Grade 6+) will be female by the end of 2020. At March 2019 27.8% of our senior management is female.
- Founding signatory of the Insurance Industry’s Inclusive Behaviours Pledge.
- Participant in Behavioural Insight Team’s research (on behalf of Government Equalities Office) into the Gender Pay gap
- Disability Confident leader
- Member of Working Families and the Employers’ Network for Equality and Inclusion
- Zurich UK embraces agile working and all vacancies are available as part-time roles or job shares
- All members of our UK Executive Team have a diversity & inclusion objective
- Focus on ensuring diverse long and shortlists for all management vacancies
- All job adverts are screened by software to ensure that they appeal to a diverse range of candidates
- Winner of Insurance Times Diversity & Inclusion Excellence Award December 2019
- Winner of Financial Adviser's Diversity Initiative Award 2019
- Signatory of Valuable 500 initiative
- Parental leave for employees: 16 weeks at full pay for any new parent.
Gender Pay Gap reporting
Our 2018 gender pay gap figures have been calculated in line with the government regulations and shows a mean pay gap of 22.8% and a mean bonus gaps of 51.9% (based on salaries and bonuses paid in the 12 months to 5th April 2018).
Our report is available to download HERE
Our 2017 mean pay gap was 27.3% and the mean bonus gap was 47. 2% (based on salaries and bonuses paid in the 12 months to 5th April 2017). Our report is available to download HERE.
Zurich, along with Lloyd’s of London, led the launch of the Insurance Industry’s Inclusivity Pledge, which commits signatories to embrace diversity and inclusion. You can find more information here.
We have five employee networks, each of which is sponsored by at least two members of the Executive Team. We are also founding members of the industry networks for women (GIN) and for LGBT employees.
Pride@Zurich is a growing network which plays a pivotal role in providing support to its members, as well as reviewing our employee policies to ensure they are delivering for everyone. Pride’s work has resulted in improvements to our employee flexible benefits package and customer facing delivery, ensuring inclusion is at the forefront of our products and services. Pride works with other industry LGBT forums, as well as the Zurich worldwide Pride networks, to ensure that they are always making things better for our people - in insurance, in the UK and beyond.
Women’s Innovation Network
The Women’s Innovation Network (UK WIN) is our largest network with over 800 members in the UK and 5,000 globally. WIN’s mission is to create equal career development opportunities for both women and men, and to create tangible business value by improving gender diversity amongst our senior managers. WIN offers a variety of activities and services for its members, including speed mentoring and career development factsheet;s and lobbies for changes to internal processes to support women in the workplace.
Disability Inclusion Group
Our Disability Inclusion Group (DIG) aims to build a high performing, inclusive culture where everyone is comfortable to be themselves, has equal opportunities for career progression and where people with disabilities find us easy to deal with. Our mission is to help Zurich in the UK be recognised as an inclusive organisation; to remove any barriers that hinder this; and to promote equal opportunities for all so that employees, customers and other stakeholders, irrespective of disability, find Zurich to be a caring and understanding employer and insurer.
Cultural Awareness Network
Our Cultural Awareness Network (CAN) is committed to increasing our ethnic diversity through a strong focus on recruitment and retention as well as raising awareness of different cultures and customs. We want to better understand the needs of our customers and employees, and ultimately deliver more innovative, diverse services. CAN has established an annual Cultural Day and developed several guides to highlight different festivals and cultures.
Minds Matter works to create a space where employees feel supported and are able to share their experiences when it comes to mental health. The network also strives to contribute ideas on how we can best serve our customers and employees in an inclusive and considered way.
Workforce statistics at January 2019
|Percentage of females employed||44%|
|Percentage of managers that are female||40%|
|Percentage of UK Executive Team that is female||23%|
|Percentage of BAME employees (self-declared)||5.2%|
|Percentage of employees with disability (self-declared)||8%|
|Percentage of employees who are LGBT (self-declared)||1.7%|
Diversity scope of reporting: UK payroll headcount includes permanent and fixed term contractors. Excludes non-executive directors, temps and agency, Female managers: Grades 4-9
Data source: HR data system. Apart from gender data, all information is based on employees completing self-declaration. As a result not all this information is 100% representative.