Continuous robust female representation in ICAEW’s senior roles

The Women in Finance Charter

More than 400 organisations including banks, insurance companies, investment firms and accountancy practices have signed up to the charter since its launch in 2016.

Signatories commit to supporting the progression of women into senior roles in the financial services sector by focusing on the executive pipeline and the mid-tier level; to set targets in line with this aim and to publicly report their progress in meeting those targets.

ICAEW’s targets

ICAEW understands the value of diversity to decision-making and innovation. To deliver against our 10-year strategy, we must attract and retain the very brightest talent and remove barriers to equity and equality.

In 2017 we became signatories to the Women in Finance Charter and committed to 40% of our senior management being women by March 2020. We exceeded this target in 2019 and in 2024 women hold 58.8% of our senior roles. This is compared to 33.3% female representation when we began our journey.

We actively pursue gender diversity across all areas of our organisation and have progressed significantly against our targets on gender diversity for senior roles since signing the charter, as well as reducing our gender pay gap by 10.7% since 2021. We recognise there is more to do in this area as small changes can dramatically affect the gap.

Continued support

We review our targets annually, considering representation among the wider ICAEW workforce. We continue to support our female junior talent as part of succession planning, by offering a broad range of training, coaching, and mentoring opportunities.

Furthermore, we continue to build an ever-more inclusive organisational culture where employees can thrive irrespective of their background or characteristics. We are proud of our highly engaging employee resource groups which raise awareness on specific topics, for example, challenges during the menopause and other women’s health issues.

Finally, we take an evidence-based approach to continuously advancing our policies in line with our employees’ needs. This includes new policies to ensure the impact of women’s health issues are minimised at mid-career stage, and flexible working regulations that enable employees to combine work and family responsibilities more easily, and we have enhanced our provisions beyond statutory in our maternity, paternity, shared parental and adoption leave. We actively encourage partners to take up shared parental leave.

The activities listed below seek to increase gender diversity at senior levels and further narrow our gender pay gap.

ICAEW’s gender diversity initiatives

In 2006, we launched the Women in Finance Network to provide a platform or women across the sector to share their experiences and to support members with personal development. Each year ICAEW hosts events that bring the network together and showcase keynote speakers, and annually celebrates the contributions of women to the sector on International Women’s Day.

In 2011, we created the Women in Leadership training programme to support women aiming for senior management, partner or board roles. The programme is designed to empower women to harness style of leadership that is already within them, and bring it powerfully to the fore, to help their organisations prosper. While mainly targeted at members, we reserve a few spots for female employees in leadership roles. 

We launched in October 2023 a new programme – “Elevate” – for directors which includes a two-day offsite workshop on inclusive leadership. The course ran over multiple weeks and covered a variety of topics such as chairing meetings, stakeholder engagement, credibility and impact, and strategic planning.

ICAEW also annually, externally, benchmarks its activity within the sector using the comprehensive toolkit and survey of ENEI (the Employers Network for Equality and Inclusion). We measure our, workforce, strategy and plan, leadership and accountability, recruitment and attraction, training and development, other employment practices, communication and engagement and procurement. For our activity we received a prestigious ENEI Bronze inclusive employer award in 2024.