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Being treated fairly and equally is a basic human right, according to the UN, and provides the foundation for a diverse and inclusive work environment and organizational culture.
Employees who work in a diverse and inclusive work environment are more likely to feel engaged and satisfied. In a diverse environment, employees feel that they have the same possibility to develop and advance their careers. A diverse work culture also boosts innovation and growth of intellectual capital through a wealth of perspectives and through the satisfaction that employees feel from working for a company with sound and modern values.
Furthermore, a lack of diversity limits a company’s access to both important customer segments and interesting segments in the talent market. A lack of diversity through discrimination or unconscious bias therefore has a negative impact on business performance. In other words, diversity is important because it is profitable, but also because a lack of it is morally and ethically wrong.
Diversity and non-discrimination are highlighted in Sampo Group’s governance documents. The Sampo Group Code of Conduct describes how Sampo Group as a whole aims to provide a non-discriminatory, agreeable, and open work environment that encourages entrepreneurship and in which exemplary performance is rewarded. Sampo and the Group companies recognize that all employees should be treated fairly and equally, regardless of gender, ethnic background, language, religion, nationality, age, sexual orientation, or physical ability.
Gender Distribution, Managers, Sampo Group, FTE 31 December 2018
Gender Distribution, All Employees, Sampo Group, FTE 31 December 2018
Age Distribution of Personnel, Sampo Group, FTE 31 December 2018
Further, the Policy on Diversity with Regard to the Board of Directors of Sampo plc states that both genders shall be represented on the Board of Directors. When electing the Board of Directors, a broad set of qualities and competencies are sought, and it is recognized that diversity, including age, gender, geographical provenance, and educational and professional background, is an important factor to take into consideration.
Sampo has also set a target on board equality. The Nomination and Compensation Committee considers gender equality and ensures that both genders are always represented on the Board of Directors, and has as its target a share of at least 37.5 per cent of the total number of members for both genders. At the end of 2018, the Board of Directors had three women and five men. The share of women was 38 per cent and, thus, the target was met, as was the case the previous year.
Gender Distribution of the Board Members, Sampo plc
Length of Tenure of the Board Members, Sampo plc, 31 December 2018
Geographical Mix of the Board Members, Sampo plc, 31 December 2018
Educational Background of the Board Members, Sampo plc, 31 December 2018
Further information can be found in the Corporate Responsibility Report (page 40).