RPIA SUSTAINABILITY REPORT 2021
OVERVIEW FIRM
RPIA SUSTAINABILITY REPORT 2021
OVERVIEW FIRM
34
35
INVESTMENT MANAGEMENT
INVESTMENT MANAGEMENT
THE PILLAR
THE PROBLEM
THE SOLUTION
Workplace Equality Case Study - Diversified Bank
23%
Engage with issuers on work- force composition, female attrition rates, and female focused recruitment or back to work strategies.
Background This case study focuses on a UK-based diversified bank that demonstrates leadership in disclosing and improving DE&I-related metrics. Participation The issuer discloses metrics beyond workforce participation for women and has implemented policies that encourage the recruitment of female employees.
1 Female workforce participation is at risk due to the COVID-19 pandemic. 2 Women dropping out of the work-force impacts all the subsequent pillars.
13%
Participation
Percentage of respondents with children 10 years or younger planning to drop out of the workforce.
0
10
20
Encourage issuers to track and increase the percentage of women in leadership, management, and revenueproducing roles versus over-rep- resentation of women in entry level roles.
13/20
Promotions still favour male workers. 1 2 A lack of upwards mobility for women impacts both leadership composition and pay gaps.
86
Mobility The issuer discloses in-depth metrics on the mobility of their female workforce and ranks in the second or first quartile on all metrics relative to peers. The company has also implemented policies regarding diversity in candidate selection for internal roles.
Number of female employees who get promoted per 100 male promotions.
Mobility
0
10
20
18/20
The lack of mobility is reflected in the leadership composition of companies and higher wage gaps.
1 The higher up the corporate ladder you go, the less women are represented.
2
Leadership The issuer ranks in the first quartile for board diversity and has top quartile rankings for the percentage of mid and senior-level women in the company. Their corporate-wide strategy for increasing representation of women in leadership roles is also a positive sign.
Ask that issuers expand their focus beyond just Board composition, and ensure women are well-represented across all seniority levels.
Entry-Level
Manager
48%
41%
0
10
20
19/20
Leadership
Director
Vice President
35%
30%
Equal Pay The issuer is among a few global companies that report on pay gap metrics between female and male employees. The company ranks in the second quartile versus peers who report such metrics. The company also has policies in place for further closing the pay gap.
Senior VP
C-Suite
24%
27%
0
10
20
19/20
It is less common for issuers to disclose pay gap metrics. We engage with issuers to start disclosing and improving pay gaps within their organization.
Women are still paid less than their male counterparts. Less opportunities for promotion and fewer women occupying middle/upper management roles, exacerbate pay gaps
1 2
$0.83
Representation The fifth pillar is where the issuer (and most other companies) fall short. The issuer currently does not have disclosures on the representation of other population groups within its workforce. The company has recently implemented plans to address these gaps.
Average female compensation for every $1 in wage being paid to male employees (US & Canada).
Equal Pay
0
10
20
5/20
Overall, we view this company as a leader in DE&I disclosure, and it ranks highly against global peers in the same sector based on our Workplace Equality model. We encouraged the issuer to increase disclosure beyond gender by including visible minorities, people with disabilities, and other under-represented groups in the population.
Push companies to consider the same pillars for different
12%
12%
All of the above can be expanded to ethnic diversity, LGBTQ+, Indigenous and persons with disabilities with the same targeted impacts.
1
community populations (ethnicity, full gender spectrum, Indigenous groups, and people with disabilities).
Average representation of ethnic minorities within executive teams in North America and the UK.
Representation
0
50
100
64/100
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