Tullow PLC is a signatory to the UK HM Treasury’s Women in Finance charter. We are committed to improving the diversity of our workforce because we know that diversity of thought adds real value to our business, and gender diversity is an important part of this. Signing the Women in Finance Charter indicates Tullow’s commitment to supporting the development and progression of women into senior roles within our organisation.
At Tullow, we recognise the value that an inclusive and diverse workforce brings to our business and how it enhances our employee value proposition.
Becoming a signatory to the Women in Finance Charter was an important step for Tullow to further demonstrate our commitment to improving the diversity of our workforce, particularly improving female representation at senior levels within our Finance function. We know that diversity of thought adds real value to our business, and gender diversity is an important part of this.
Our progress so far
Les Wood, Chief Financial Officer, an Executive Director and a member of the Group Executive Team was appointed on 1 November 2018 to be responsible and accountable for gender diversity and inclusion within the Finance function.
The Inclusion and Diversity agenda is included as a Key Performance Indicator in the company’s annual performance scorecard which drives the Group-wide annual bonus scheme.
Inclusion and Diversity targets are set for Senior Leadership within the Finance function:
40% Women in Senior Management by 2021.
Our rationale for targets
Tullow believes that an inclusive and diverse workforce is critical to maintaining a successful and sustainable business. We strive to create a workplace that treats employees fairly, equally and with respect. Our rich diversity, skills, abilities and the creativity that people from differing backgrounds and experiences bring to the company are highly valued.
Our Inclusion and Diversity Plan has the objective of achieving a diverse workforce and improving gender diversity, especially at senior levels. Therefore, we provide leadership, focus and action on Inclusion & Diversity through a Group Executive Sub-Committee of which the Chief Financial Officer is a member.
We operate with zero tolerance towards discrimination. We ensure that recruitment searches are conducted across a diverse talent pool and all Executive searches facilitated by external search firms, comply with the Executive Search Firms Voluntary Code of Conduct.
Our plans to achieve the set targets
Our plan to progress achievement of our target currently set at having at least 40% of Senior Management in Finance being women by 2021 will be achieved by the following key actions:
1. Continuously analyse our data and identify key talent and progression opportunities/succession plans.
2. Train leaders/managers on Tullow’s current recruitment strategy in line with Tullow I&D strategy. (i.e. diverse candidates and interview panels; job specs focusing on key competencies for roles; gender neutral job descriptions).
3. Train our leaders/managers on understanding their own biases through conscious inclusion workshops.
4. Identify and implement opportunities for agile working allowing employees to diversify their skills as well as transfer skills.
5. Promoting flexible working to help promote a more inclusive environment and attract and maintain a wider talent pool.
Steps taken to achieve targets
Since signing on the HM Treasury’s Women in Finance Charter, we have made tangible steps towards achieving our targets by taking the following actions:
Inclusion and Diversity targets are set for Senior Leaders for the whole organisation and specifically for leadership within the Finance function.
The Inclusion and Diversity agenda is included as a Key Performance Indicator in the company’s scorecard which drives the Group-wide annual bonus scheme.
A new recruitment philosophy is now in place which ensures that recruitment searches are conducted across a diverse talent pool and ensures diverse interview panels.
Mandating diverse interview panels for at least the first interview but preferably on all panels.
Roll out of company-wide SMART working policy that allows for any combination of SMART location (i.e. work from home up to two days a week), SMART hours (i.e. flexible start and finish times, with core hours 10.00-15.00) and Smart Time-out (i.e. compressed working weeks).
Development plans are in place for the pipeline of High Potential Finance talent across the Group and are reviewed at least annually.