Strategic report Governance Financial statements Other information NOMINATION COMMITTEE REPORT CONTINUED •Taking a data-driven approach. The Group Executive Committee The Group continues to promote diversity across the organisation Approach to NED recruitment is provided with regular management information, and the and is proud to be a signatory to the Women in Finance Charter, The Committee leads the process for appointments to the Board demographics of the Group’s workforce are reviewed against a government initiative to promote inclusion and diversity. As at other than for the Nominated Director (for further information on relevant external benchmarks; 30 June 2021, female representation across the Group’s senior the Nominated Director see page 118 below). It uses the outputfo Driving the inclusion and diversity agenda. The Group’s management (as per the Code definition) was 35.9%. For these its detailed succession planning and regular assessment of Board • purposes ‘senior management’ comprises members of the Group and Committee composition to identify the skills, knowledge and leadership are made collectively accountable for promoting Executive Committee, the Group Company Secretary, and each of experience required in candidates to meet the Group’s current and inclusion and diversity within the organisation; and their direct reports (including administrative staff). If administrativefuture requirements. The Committee engages external search •Doing less, well. The Group focuses on a smaller number staff are removed then female representation across the Group’s firms for all Board appointments(other than for the Nominated of actions that will have the greatest impact. senior managementas per the Companies Act 2006 definition Director), using their networks and expertise to identify a list of During the period, the Committee reviewed updates to the (which only includes those responsible for planning, directing or candidates that meet the capability requirements developedby Group’s inclusion and diversity policy and approved the strategy controlling the activities of the Group or a strategically significantthe Committee. Shortlisted candidates are invited to interview and action plan being followed as the Group continues to promote part) was 26%. Further information on how the Group is seeking to with various members ofthe Board and senior management. and embed a diverse and inclusive culture. Further information on promote diversity can be found on page 30 of the Strategic Report. Summaries of the outcome of interviews, along with candidate CVs, the Group’s progress in achieving its objectives can be found on Ethnic diversity are then provided to the Committee for detailed consideration. pages 30 to 32 of the Strategic Report. The Committee is pleased to report that the Company has met In line with the Group’s Board diversity policy, the Committee Gender balance the recommendation from the Parker Review that there should reviews broader aspects of diversity as part of its reviews of Board Part of the Board’s commitment to promoting diversity is its be at least oneDirector ofcolour on the Boardby 2021. During the composition and succession planning, and when searching for continued focus on gender diversity both at Board level and in period under review, the Committee considered the widening of candidates, the Committee takes into account a number of the Group’s senior management. The Committee has overseen the inclusion and diversity strategy to include improving the factors, including the benefits of diversity and balance of the development of specific strategic initiatives in this respect, representation of Black, Asian and Minority Ethnic (BAME) colleagues composition of the Board, including in terms of ethnicity and including to hire more, promote more and lose less women in in line with the local population. This included signing up to the Racegender. The Group’s policy is to work with search firms whohave senior positions. at Work Charter and its five ‘callsto action’, consideration of settingsigned up to the Standard Voluntary Code of Conduct for ethnicity targets and embedding them into Directors’ personal Executive Search Firms on diversity and best practice, and reject As at 30 June 2021, the Board numbered nine in total, three of objectives, reviewing how to reacha more diverse slate of candidates candidate lists that are not suitably diverse without sufficient whom are female. Once Penny James is appointed as Senior and introducing various mentoring and sponsorship initiatives. For reason. The overriding requirement is that recommendations Independent Director on 1 September 2021, the Board will number more information about the Group’s approach to ethnic diversity for appointments are based on merit against objective criteria, 10 in total, four of whom will be female. please see the Our People section on page 31. and that the best candidates are put forward for consideration. Such criteria will usually include: previous experience with financial The Board is proud to have met the target set out in the services experience in a regulated, consumer business being Hampton-Alexander Review of 33% female representation by preferred; a track record of success in a senior leadership role of a 2020, and the Committee continues to focus on promoting gender substantial company; prior non-executive director experience or diversity as part of its recruitment processes. equivalent; strong regulatory relationships and understanding of key themes and trends; and the ability to contribute broadly at a strategic and commercial level. The Committee recommends its preferred candidate to the Board for approval. 117 Hargreaves Lansdown Report and Financial Statements 2021