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At UniCredit, we have long recognised that an equitable and diverse workforce is vital to our business and creates a fairer and more inclusive working environment. In 2022, UniCredit obtained the EDGE certification for gender equity across three countries: Austria, Germany, and Italy, demonstrating our commitment to fostering gender equity and inclusion in the workplace.
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EDGE is the leading global assessment and business certification for gender and intersectional equity. The certification process involves a rigorous third-party review of representation across the pipeline, pay equity, effectiveness of policies and practices, and inclusiveness of an organisation’s culture. As an integral part of the assessment, statistical data is analysed, policies and practices are reviewed, and employees receive a comprehensive survey to assess perceptions of career development opportunities in the workplace.
The UniCredit banks in Austria, Germany and Italy are currently the only EDGE-certified organisations in Europe in the banking industry. In each of the five entities, both men and women perceive flexible working as allowing them to balance their professional and personal life. And all five have policies that explicitly mention: non-discriminatory recruitment and promotion practices that include gender; non-discrimination with regards to professional development, which also includes gender; plus, the value of diversity and inclusion. These policies showcase our strong commitment to Diversity, Equity & Inclusion (DE&I) as a driver of sustainable business success and a platform for future progress towards inclusion.
By obtaining the EDGE Assess and Move certifications UniCredit has made a clear commitment to achieving gender equity. It also reinforces UniCredit’s commitment to a broader ESG agenda as a crucial component of their business success.
Aniela Unguresan
Founder of EDGE Certified Foundation
As part of its EDGE action plan, all UniCredit entities are committed to making progress towards achieving gender balance. Moving forward, all organisations are encouraged to focus on the representation of women at the middle, upper, and top management levels, as well as men’s and women’s perceptions about equal opportunities for promotion and equal pay for equivalent work.
Our bank intends to ensure equal access to career-critical assignments for all employees by setting up a mentoring programme for both males and females and measuring its effectiveness in terms of broad growth opportunities. This development path will help to strengthen women’s presence in the leadership pipeline and build a more inclusive workplace where all talent can flourish and grow. For men, there is the opportunity to encourage more take-up of paternity leave, and all organisations can be more proactive in managing pay equity.
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This further highlights our efforts in fostering a more diverse and sustainable professional place to work. UniCredit remains strongly committed to championing gender diversity, equity, and inclusion in the workplace, so our people can continue to deliver incredible results and thrive in an equitable and inclusive environment for all.
This further highlights our efforts in fostering a more diverse and sustainable professional place to work. UniCredit remains strongly committed to championing gender diversity, equity, and inclusion in the workplace, so our people can continue to deliver incredible results and thrive in an equitable and inclusive environment.
Siobhan McDonagh
Head of Group People & Culture
A conversation with...
Siobhan McDonagh, Head of Group People & Culture and Aniela Unguresan, Founder and Member of the EDGE Certified Foundation Board
To you, what did the Edge certification mean for UniCredit?
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Siobhan McDonagh,
Head of Group People & Culture
Aniela Unguresan,
Founder and Member of the EDGE Certified Foundation Board
SIOBHAN: Receiving the Edge certification was of critical importance to us - to be recognised as a workplace that enables equal opportunities for everyone, provides open and flexible working environment and invests in its own people, their professional development and well-being. I find this particularly valuable for our employees. We want them to be proud to work at UniCredit and to build our better bank for the future, leveraging on our DE&I principles and our Values of Integrity, Ownership and Caring in everything they do.
On the other hand, platforms such as Edge, enable us to attract the right talents. This means that even before they officially join UniCredit, our people know what to expect, they can learn about our Culture, the opportunities and in that way find the perfect fit for their careers. Because only if we share the same Values, we can all succeed.
Why are you particularly proud to receive Edge recognition?
SIOBHAN: First and foremost, I am extremely proud of my team for their continuous commitment and for driving this cultural change to make UniCredit more diverse and inclusive workplace. Currently, with the Group being 57% women and almost a half of our Group Executive Committee being represented by women, we are already exceeding our targets set for this year.
Edge confirmed this amazing progress we have achieved in the areas of gender equity and inclusion in Austria, Germany, and Italy. And now, we are even more enthusiastic to continue our path, pushing the boundaries further and making sure we are ready for the next step. We absolutely must keep this consistency in continuous improvement when it comes to DE&I and implement it to all our markets and layers of our company.
Can you tell us about your partnership with UniCredit while working on the Edge certification?
ANIELA: Our collaboration with UniCredit started back in 2019 when we jointly launched a pilot project assessing all bank areas operating on the Italian market. Thanks to the successful pilot implementation, UniCredit extended the project further into its legal entities operating in Austria and Germany. This led to the bank obtaining EDGE Certification in all three countries, recognising their great commitment and continuous progress achieved in terms of workplace gender equality. As part of UniCredit’s EDGE Certification process, each of the certified entities defined a robust action plan to continue to further improve gender representation across the pipeline, ensure proactive management of pay equity and effectiveness of policies and practices which enable equitable career flows, and the inclusiveness of an organisation's Culture.
UniCredit’s intentional, prioritised, and measured approach demonstrates that gender balance, diversity and inclusion are core components of company’s ESG agenda and therefore of its sustainable business success.