At Aegon, we're committed to creating an inclusive workplace and to embrace diversity in all its forms. We’re passionate about developing a purpose-led culture and we believe that our colleagues are critical to our success.
We embrace diversity
Our people are our greatest asset, and we want Aegon to be a place where they can bring their authentic self to work and do all they can to deliver on our strategic promises to our customers.
Everyone should feel valued and respected and feel comfortable being their true self. We have an expansive inclusion and diversity agenda driven right from the very top of the organisation. Our company-wide statement on diversity and non-discrimination aims to create a productive and open working environment. All colleagues are valued for their contribution and can realise their potential. We also have strong Executive sponsorship across our inclusion and diversity communities.
We’re also proud signatories to the Business in the Community’s (BITC) Race at Work Charter. We were featured in the Race at Work Charter Survey October 2023 report as a good example of a company building allyship support.
We want to achieve a true gender balance
We're proud to support the Women in Finance Charter and we're committed to improving our gender diversity among senior management.
When we signed up to the Women in Finance Charter in February 2019 we had 30% female representation in our CEO-2 population.1 After meeting the original 33% target in early 2022, we have reset our target to aim for 50/50 by 2030 – with milestone targets of 35% by end of 2022 and 40% by end of 2025. As at the end of 2022, female representation in this population was at 36% and we’re now focused on our 40% milestone by the end of 2025.
Having a clear aspiration for 50/50 gender balance in senior management, and at all levels of the organisation, provided a focus and an ambition for development of our talent strategy to create a sustainable pipeline of diverse talent. We’re committed to achieving a true gender balance at all levels of the organisation.
We’ve undertaken a number of actions to achieve this, including:
1. In 2022 we partnered with Women Returners to bring female talent to Technology roles. We’re pleased with the successful outcomes in this programme to date.
2. In 2022 we initiated a multi-year initiative of establishing a new talent acquisition and development strategy. These include:
- A candidate journey that creates a consistently positive experience.
- A segmented attraction strategy which helps access a greater diversity of talent from a wider range of talent pools.
- An accessible and inclusive framework for assessing and selecting talent.
- An engaging employee onboarding pathway which helps new talent to feel connected and ready to perform.
- Greater focus on personal development with clearer and more transparent career opportunities. Leading-edge technology drives individual development opportunities and offers the ability to direct skills and talent to where we need it most.
3. In 2023 we’ve launched our Talent Marketplace. This is an intuitive, AI enabled digital platform that captures employees’ skills, experiences and ambitions, and provides visibility of opportunities to grow and develop. It gives them the opportunity to learn new skills, connect with different colleagues and get to know other parts of the organisation. The platform also facilitates mentoring, allowing employees to share their unique experiences and insights, broaden their network and to benefit from the knowledge and support of colleagues.
4. In 2022 we initiated our partnership with the AAI EmployAbility Diversity Works programme which is focused on improving employability of ethnic diverse female talent. It runs in two paths. The Management Development Coaching programme aims to enhance our people management capabilities through targeted one to one coaching programme. The Reference Group which aims to produce a tailored inclusion action plan to level up career progression prospects for minority ethnic employees.
5. We’re sponsoring, on a yearly basis, several of our current and aspiring female leaders through Women in Banking and Finance membership and a mentoring programme offered as part of it.
6. Since 2020 we’ve been a founding partner of the Women in Banking and Finance (WIBF) Accelerating Change Together research programme . The first year of the programme focused on the ‘Missing Middle’ to identify potential causes for a lack of pipeline into senior positions. The research analysed actual behaviours and sought to bust some myths about what the real drivers and barriers were.
From the analysis, recommendations on potential practical interventions have been created in the Good Finance Framework. The second year focused on qualitative research that involved rich conversations with 100 employees across financial services. The 100 Diverse Voices report proposes the UTOPIA framework, which is an action-based guide for future of work for financial services firms and it aligns to the Good Finance Framework. As a founding partner we will test and validate these interventions.
We support wellbeing
The health and wellbeing of our people is a priority for us. We offer colleagues support with their physical, mental and financial wellbeing, through a wide range of events, activities and resources.
In 2022 we introduced a range of wellbeing support services, which includes dedicated support focused on women’s health. For example, we launched a new App provided by Peppy, that enables our colleagues, and their partners, to access free expert advice on a range of issues related to menopause, pregnancy, fertility, men’s health, and a holistic women’s health channel. Thanks to the cooperation between Peppy and AXA, our private health insurance provider for our employees, AXA have expanded their offering to menopause.
In early 2023 we've initiated our journey to be accredited as the Menopause Friendly Employer. As part of this work, we’re looking at 5 areas – Culture, Engagement, Policies and Practices, Facilities and Training. We’re aware that changing the way we think about menopause and the way we support it, can mean a cultural shift and embedding change in the long term. We want to raise awareness of menopause and the impact it can have on the individual in the workplace. From encouraging open conversations between managers and their teams, to signposting the relevant advice and support for those who need it.
We’re working towards long-term, sustainable change in our workplace, fostering an inclusive culture where everyone can be at their best.