Skip to main content

Inclusion and Diversity Action highlights

As at 31 December 2022

In 2022, we launched our two-year action plan designed to identify and deliver sustainable, long-term change.

You can read more about our two-year Inclusion and Diversity Action Plan here.

The Action Plan was endorsed by the Quilter plc Board and delivery is overseen by the Inclusion and Diversity Executive Steering Committee, chaired by Quilter’s Chief Executive Officer. Good progress was made in 2022 but we are cognisant of the industry wide challenge to address inclusion in financial services and realise that significant effort and focus is required over a sustained period.

In 2022 our focus was on setting the foundations for success, encouraging data disclosure and education.

Attracting and retaining diverse talent:

A thorough review of recruitment processes was conducted to ensure our talent acquisition practices can enable our action plan. In addition, the talent acquisition team, along with the wider human resources function, underwent specialist training to ensure they are appropriately equipped to support delivery of our ambition.

Education and community:

The Quilter plc Board, senior leaders and line managers attended informative and inspiring sessions with John Amaechi OBE. Over 300 employees attended in total. To reinforce the importance of inclusion and diversity we also mandated a specific performance objective for managers, offering guidance and setting clear expectations. We launched our new Inclusion and Diversity Forum. The Forum meets quarterly and is designed to create a safe space for dialogue on this topic between colleagues from across our organisation. We also continue to support our employee networks – Together with Pride, Gender Diversity and Cultural Diversity.

Data disclosure:

We recognise the importance of data disclosure, not least in measuring and monitoring progress but also as an indicator of colleagues’ level of psychological safety in sharing personal data with Quilter. In 2022 we focused on creating psychological safety through storytelling and role modelling, and we also expanded our disclosure fields to cover a broader set of diversity characteristics. Our annual data disclosure is provided below.

Colleague diversity data as at 31 December 2022

We use targets to drive our desired improvement in the diversity of our senior management. In 2022, our target was to achieve 38% female representation and 5% ethnic minority representation in this community. Although gender diversity improved year-on-year, we narrowly underachieved these targets, ending the year with 36% female and 4% ethnic minority representation. Nonetheless, we remain committed to sustainable change and believe the progress noted above will support this.

To further reinforce our long-term goals, we have set out new minimum targets for the end of 2025 to have 40% female representation, which is in line with the FTSE Women Leaders Review Target, and 5% ethnic minority representation by the end of 2023. As we progress toward these medium-term minimum goals, we will continue to set stretch targets for the executive that will drive and support diverse representation across our senior management.

With regards to our pay gap data, in 2022 we have reported a median gender pay gap of 31% and a median bonus gap of 44%, a reduction on 2021. We have also voluntarily included our ethnicity pay gap calculations. Our median ethnicity bonus gap of 35% is lower than 2021.

The data below is as at 31 December 2022 and staff are asked to contribute their data via an electronic portal. For detail on the diversity of our Board directors see page 54 of the 2022 Report & Accounts.

Data disclosure response rates

Gender Gender identity Sexual orientation Ethnicity Disability Age group Religion Socia economic
100% 46% 72% 90% 61% 100% 80% 60%

Gender representation

Senior management

Senior management1 2022: Male 32 (64%), Female 18 (36%)

All colleagues

All colleagues 2022: Male 1,676 (56%), Female 1,329 (44%)

Last UK Census (2021) benchmark

Last UK Census 2021: Male 49%, Female 51%

Gender pay gap 2022 2021
Mean hourly pay gap 30% 33%
Median hourly pay gap 31% 29%
Mean bonus gap 62% 72%
Median bonus gap 44% 53%
Female colleagues receiving bonus 90% 92%
Male colleagues receiving bonus 92% 91%

Ethnic group representation

Senior management

2022: Asian 2%2, Black 0%3, Mixed 2%4, White 92%5, Other 0%6, Not stated 4%7

All colleagues

2022: Asian 6%2, Black 2%3, Mixed 2%4, White 87%5, Other 1%6, Not stated 2%7

Last UK Census (2021) benchmark

Last UK Census 2021: Asian 10%2, Black 4%3, Mixed 3%4, White 81%5, Other 2%6, Not stated 0%7

Ethnicity pay gap 2022 2021
Mean hourly pay gap 12% 15%
Median hourly pay gap 5% 4%
Mean bonus gap 48% 44%
Median bonus gap 35% 38%
Colleagues from ethnic minority group receiving a bonus 82% 87%
White colleagues receiving a bonus 92% 92%




1Senior Management is defined as Executive Committee and their direct reports, excluding personal assistants.
2Colleagues who identified as belonging to one of the following ethnic groups: Bangladeshi, Chinese, Indian, Pakistani or Asian other.
3Colleagues who identified as belonging to one of the following ethnic groups: Black African, Black Caribbean, Black other.
4Colleagues who identified as belonging to one of the following ethnic groups: Mixed White/Asian, Mixed White/Black African, Mixed White/Black Caribbean, Mixed other.
5Colleagues who identified as belonging to one of the following ethnic groups: White British. White Irish, White Gypsy/Traveller, White other.
6Colleagues who identified as belonging to one of the following ethnic groups: Arab, Any other.
7Colleagues who responded but opted not to disclose their ethnic group.

Further information

Reports and statements

An overview of the governance in place.

View reports and statements

An inclusive culture

Discover how we support our people, including our efforts to ensure Quilter is as inclusive and diverse as possible.

Find out more