Our approach to Diversity, Inclusion and Belonging

We’re always building on our work in relation to diversity, inclusion and belonging (DI&B). 

We’ve raised the profile of our DI&B approach internally by exploring what the subject means for us and our team members:

  • Diversity encompasses the unique aspects of each individual, including background, personality, life experiences, and beliefs.
  • Inclusion ensures that every team member feels welcomed and respected.
  • Belonging involves feeling integrated and having positive connections with colleagues.

Understanding our values and differences helps us shape a culture where everyone can be their authentic selves.


Our Approach to DI&B

Here are some key initiatives and support mechanisms we have implemented:

  • DI&B Forum: A forum that meets six times a year with representatives from across the Society. This open forum discusses critical topics influencing our policies and approach.
  • Training: All team members receive DI&B training during induction, including unconscious bias training.
  • Women in Finance Charter: We are committed to gender equality, with a balanced Executive Team of three women and two men.
  • Pay Gap Reporting: We regularly review and disclose our gender and ethnicity pay gaps to our Remuneration & People Committee and at our AGM.
  • Inclusive Facilities: Our stores and branches are designed to accommodate physical and non-visible needs, supporting both team members and customers.
  • Our Forum: A working group where team members, selected by peers, represent a wide range of experiences and perspectives.
  • Menopause/Hormonal Change Policy: We support team members with flexible adjustments and monthly coffee mornings for open discussions.
  • Neurodiversity in Business: As a corporate member, we raise awareness and provide training on neurodiversity.
  • Mental Health Support: We have 14 qualified mental health first aiders and offer various support channels, including bookable appointments and on-demand help.
  • Family-Friendly Policies: We offer flexible working arrangements and enhanced maternity and paternity leave.

These initiatives reflect our commitment to fostering a positive working culture and recognising the value of all our differences. Our DI&B efforts extend beyond statutory obligations under the Equality Act to embrace our core values.

 

Women in Finance Charter and what it means for us

The Women in Finance Charter is one strand of diversity which supports inclusivity and a sense of belonging at The Cambridge.

This is a commitment by HM Treasury and signatory firms to work together to build a more balanced and fair finance industry. Firms that sign up to this Charter are pledging to be the best businesses in the sector.

The Charter reflects the government’s aspiration to see gender balance at all levels across financial services firms. A balanced workforce is good for business – it is good for customers and workplace culture, and our society.

As a signatory, we have pledged to promote gender diversity by:

  • Appointing a senior executive responsible for gender diversity.
  • Setting internal targets for gender diversity in senior management.
  • Publishing annual progress reports on these targets.
  • Linking senior executive pay to performance against gender diversity targets.

 

Who is our Accountable Executive and what does the Charter mean to them?

Peter Burrows, our Chief Executive Officer:

"The benefits of making The Cambridge a diverse and inclusive workplace are clear.  Not just in making the Society a great place to work for everyone, but also in improving our decision-making and eliminating groupthink.

Historically, the financial services sector has lagged in female representation, particularly at the most senior levels, which is why back in 2015 the UK government commissioned Dame Jayne-Anne Gadhia to lead a review of women in senior management across UK financial services.  This resulted in HM Treasury launching the Women in Finance Charter.

To me there was no question that this was something to which we should subscribe, and The Cambridge formally joined the scheme in 2019.  And whilst they are important, I see the commitments that we have made under the Charter as just the beginning.

In comparison to most of our Building Society peers we are in a good place, with for example a Leadership Team of seven women and four men, but that’s no reason for us to be complacent.  Going forward, we are committed to publishing our performance against Charter commitments and continuing the journey to make The Cambridge a society in which everyone can flourish."

 

What are our internal targets and how are we performing against them?

  • Leadership Team Gender Balance: Maintain a gender diversity split of 40%-60% female by 2026.
  • Future Leaders Program: Ensure that 40%-60% of shortlisted candidates are female by 2026.
  • Current Representation: As of August 2025, 62.5% of our senior management roles are held by women.

We have met our targets and will continue to focus on gender balance and broader DI&B goals in the future.

 

To recognise the work we have done so far, we’re a proud finalist in the PIMFA - Personal Investment Management & Financial Advice Association D&I Awards for our Diversity, Equity and Inclusion initiative.