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Employees who work in a diverse and inclusive work environment are more likely to feel motivated and satisfied.
In a diverse environment, all 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 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 clear and 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, which encourages entrepreneurship and where 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, and physical ability.
Further, the Policy on Diversity with Regard to the Board of Directors of Sampo plc states that both genders shall be represented in the Board of Directors. When electing the Board, 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 2017, 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 had been the case the previous year. Further information and data on Board diversity can be found in Sampo Group's Annual Report 2017.
Gender Distribution of the Board of Directors, Sampo plc
Gender Distribution, If, Topdanmark, and Mandatum Life (excluding the Baltics), 2017
If's Ethics Policy states that the business culture shall promote equality and diversity. No kind of discrimination, harassment, or bullying is tolerated. The decisions on recruitment, promotion, development, and compensation are based on the employee's abilities and skills only, and must never be based on irrelevant factors such as gender, age, ethnic background, religious belief, or sexual orientation.
In addition, If has an Equal Opportunities Advisory Board, established in 2015. The board discusses equality and diversity, analyzes statistics, and recommends actions to further achieve equality in the company. The board has largely focused on promoting gender equality during the first two years of its existence, but the overarching aim has always been to tackle diversity in a wider sense. Specific emphasis has been put on key situations in working life in which awareness is central, such as in recruiting.
During 2017, the Equal Opportunities Advisory Board continued its work by, for example, hosting workshops in management teams. Based on the proposals of the Advisory Board, HR processes, such as recruitment, succession planning, and leader evaluation, were strengthened in order to further achieve gender equality in the company. Voluntary Diversity Ambassadors will also be appointed within If during 2018. Their task will be to promote diversity from both a business and an ethical perspective.
Topdanmark works on maintaining and developing openness in its business culture, preventing any kind of discrimination with regard to gender, race, nationality, social and ethnic origin, religion, political view, handicaps, age, and sexual orientation.
The company's target is that both genders should be represented by at least 40 per cent in management at all levels, and that there should always be at least one female candidate for executive positions. In addition, Topdanmark complies with the legislative definition of even gender distribution on the company's Board of Directors. Topdanmark has defined a number of goals and implemented activities, including an inspiration group for executive management and mentor programs for women managers, with the purpose of advancing its targets. Further information on Topdanmark's activities and the results achieved can be found in Topdanmark's CSR Report 2017.
Mandatum Life strives to promote equality between all employee groups. By tapping into the employees' different backgrounds, know-how and capabilities Mandatum Life aims to create a more innovative, fair, and caring work environment.
Mandatum Live strives to be one of the best places to work in Finland, including regarding diversity. According to the Great Place to Work Finland survey, 92 per cent of Mandatum Life employees feel that everyone at Mandatum Life is treated equally regardless of age, race, gender, or sexual orientation. In terms of gender, equality among employees is well-balanced, with men representing 51 per cent and women 49 per cent of the personnel at the end of 2017. When it comes to managers, men have a larger representation.
In January 2018, Mandatum Life joined FIBS's (Finnish Business & Society) Diversity Charter Finland. Signatory companies engage in ensuring equal opportunities, rights, and treatment for all, appreciating and utilizing the variety of know-how among their staff and the needs of their stakeholders, managing operations successfully, and communicating goals and achievements.