Women around the world are transforming society. Here are just two examples:
- 30% of global private wealth has been held by women since 2015 (Boston Consulting Group: Navigating the client landscape, Global Wealth 2016)
- 85% of women manage day-to-day expenses equally or more than their partners / spouses (UBS Investor Watch Global Insights / 2019 Volume 1)
At UBS, increasing our gender diversity is a strategic priority. We want to support and enable more women to build long and satisfying careers here, and we're especially working to increase the representation of women at senior management levels. Here we take a multi-pronged approach, examining the process, culture and organization design elements around hiring, promoting and retaining women at all levels across the firm.
Our award-winning Career Comeback program is instrumental in increasing our pipeline of female senior leaders. Professionals looking to return to a corporate job after a career break are hired into permanent roles and supported with specialized onboarding, coaching and mentoring. Since its launch in 2016, Career Comeback has helped 144 professionals (and counting) relaunch their careers. See www.ubs.com/career-comeback for more information.
We signed up to the UK Women in Finance Charter in 2018 as the aims of the charter mirror our global strategy for gender progress. This is part of a broader cultural transformation agenda at UBS. At the current rate of progress we are on track to achieve a representation of 27% senior women in the UK by spring 2021 (when the promotions earnt in 2020 will be captured in our system).
UBS is committed to hiring, retaining and promoting more women at all levels across the firm, and this is reflected directly in our strategic plan to "hire more, promote more and lose less" women, focusing particularly at our senior levels. In our 2015 Group Annual Report we first publically committed to increasing the ratio of women in management roles, and since then UBS continues to focus on this aspiration globally. UBS has embedded management accountability for supporting this goal and continues to develop career support, HR processes and technology solutions to help better attract, develop and retain women at all stages of their careers.
Below are some examples of what we are doing. Additional UK initiatives are detailed in our Gender Pay Gap report
Sponsored by Beatriz Martin, UK CEO, each UK business leader is accountable for their divisional progress, supported by divisional diversity and inclusion councils. A Group Diversity and Inclusion Council shares best practices with the firm's business leaders and is accountable for UBS's overall diversity and inclusion strategy.
Diverse candidate shortlist
Qualified women are shortlisted and interviewed for the majority of our senior roles, and it's bearing fruit: the number of women hired in our UK business has increased by 37% in the last three years.
The gender balance of our UK graduate recruitment programs was 55% women in 2017, up from 38% in 2015. We aim to maintain a 50% gender balance in our UK junior talent programs.
We launched our Career Comeback program in the UK in 2017. Already running in the US and Switzerland since 2016, it's aimed at people who want to return to work after a career break of two or more years. They're matched to permanent roles in all regions, supported with classroom learning, mentoring and coaching. Read more.
UK Gender Pay Gap
Our Gender Pay Gap report in the UK includes a number of initiatives which demonstrate our strong support for women's career progression at UBS. Read more.
100 Women in Finance platinum member
In 2017, UBS became a global member of 100 Women in Finance. Through engagement, philanthropic and educational initiatives, its 15,000 members connect and create opportunities to advance careers and strengthen our field.
In 2017 UBS conducted a global attrition study to identify the root causes leading to senior female attrition. A key finding from the study was that we needed to further support women's career development. We have done this by:
Internal mobility strategy
At the start of 2019 we set an aspirational global target for internal mobility.
We invited all our employees to record their career aspirations in our HR management system and this forms part of the mid-year review discussion with line managers.
We launched a global career navigator, enabling employees to take the steering wheel in managing their career while easily connecting with recruiters and employees who have made similar moves.
We provided employees with a simple way to load their cv in a global repository, feeding into the candidate pools used by recruiters when looking to fill open roles.
All Bar None networks
UBS's global women's networks (with networking, mentoring and leadership opportunities) are open to all employees. One of our largest network-sponsored events is an annual International Women's Day celebration that's held in most of our large UBS office locations.
Family Matters Networks
UBS family networks aim to make resources available to employees to improve their well being and the well being of their families. By families we mean parents, step-parents, children, siblings, partners, carers or any other family role. This is targeting both male and female employees but will ultimately support the gender balance agenda.
French Gender Equality Index
Complying with the Avenir law (September 5, 2018), UBS (France) S.A. publishes its gender equality index. This law aims to eliminate all gender pay disparities in France. Read more.
Speaking about diversity…
Hear what our Group CEO, Sergio P. Ermotti, has to say about diversity as a strategic priority and major business enabler.
More about Career Comeback
Hear our Group CEO's view on this unique program.