A balanced and diverse workforce is important to Zopa. We want to create a fairer and more inclusive working environment in which everyone can be themselves. Gender diversity is one such part of this.
Over the last year we have seen an improvement in our gender diversity across the whole of Zopa. Diversity metrics are regularly reported at Board meetings and Management Committees.
Earlier this year, within our recruitment practices, we started to decode all job adverts to remove gender bias and also ensure that most, if not all, of our interviews have diverse panels and that our candidate shortlists are diverse. We also try to accommodate flexible working requests in all our roles.
These actions have already seen significant results, over the last year the percentage of females employed within Zopa has increased from 34% in 2018 to 37% in 2019.
We have also seen a 4.7% increase in women in our upper pay quartile and 4% in the upper middle. This has led to a reduction in our overall gender pay gap from a mean pay gap of 25.5% last year to 18% and median pay gap of 37.8% last year to 22.8%* today.
In 2018, we signed the Women in Finance Charter which encourages companies to have at least 33% women in senior management. When we signed up to the Charter, 38% of our senior management team were women, as of 31st August 2019, this number remains flat. We are however committed to our goal of increasing this percentage by 5 points by December 2021, with a focus on maintaining an appropriate gender balance not only in hiring but also in promotions and leavers.
While gender equality is a positive step forward, gender balance is not the only metric of diversity. We believe that having a diverse workforce across race, ethnicity, sexual orientation, class, disability and gender makes us a great place to work, it also strengthens our offering by better representing our customers.
*These are combined numbers of Zopa Ltd and Zopa Bank.