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Taking positive action

At Coreco we believe that diversity, equality and inclusivity, together with mental health and well-being, are cornerstones to organisational success and sustainability.

That means that we have to practice what we preach and positively encourage diversity of thought, always looking for new, innovative ways to take an active part in improving our culture at Coreco.

Everyone, no matter their background, race, religion, colour, gender, disability or sexual orientation, has a home here. It is literally hard-coded into our DNA.

As proud members of the Association of Mortgage Intermediaries, (AMI), of which our MD is Chairman, we actively work together with other brokers, mortgage lenders and key stakeholders in the mortgage industry to drive real cultural change after AMI commissioned a seminal report on Diversity, Inclusion & Equity in 2021.

Coreco is also an active member of the Diversity & Inclusivity Finance Forum, educating leaders and all those in our industry about a range of diverse issues.

We want to ensure that not only do all those working in our industry feel able to be themselves, but we encourage a new generation of diverse talent into our industry.

Coreco passionately believes that we have an obligation to our industry, to those active within it, and to those future entrants, to lead from the front and have this conversation in the open and start to affect change.

We promise to :

  • Create a workplace environment and culture that encourages diversity of thought and inclusion, preventing any form of discrimination
  • Have a diverse team that embraces people from all walks of life and backgrounds, encouraging people to be themselves
  • Allow our clients to see themselves in us – we are all different, and we are proud to be so
  • Increase employee knowledge and awareness of mental health, wellbeing issues and behaviours
  • Reduce the stigma around depression and anxiety in the workplace and all forms of mental health illness – it is OK not to be OK
  • Facilitate employees’ active participation in a range of initiatives and activities that support mental health and wellbeing
  • Ensure we take positive action in the community that supports our values

Stress in the Finance Industry

We believe that embracing well-being and mental health best practices is important for all businesses, but the finance industry has its own unique place when it comes to stress.

When people seek financial aid, it is usually when they are going through some of life’s biggest stressors.

 

Life stressors

  • Moving House
  • Financial pressures (personal or business)
  • Divorce
  • Bereavement

A commitment to supporting mental health across financial services

In order to tackle this, we have taken many steps, including treating mental health like we would physical health, performing regular mental health check-ins, training staff to become Mental Health First Aiders, and performing regular team wellness exercises such as the World Walking Challenge.

To take this one step further and not only support our own staff but help show support for our whole industry, we are proud to be one of the founding members of the Mortgage Industry Mental Health Charter.

Coreco is very proud to be a co-founding signatory of the Mortgage Industry Mental Health Charter (MIMHC).

The MIMCH is a not for profit organisation whose members agree to be bound by the 6 governing rules which apply Best Practice Health and Wellbeing guidelines known as “The MIMHC Charter”.

The MIMCH also provides guidance, hints, tips, and frameworks so that member companies can become open and engaged around topics of mental health and create bespoke processes to support their staff.

To find out more about this excellent initiative, please click here.

Women in Finance

Coreco is also proud to be a long-standing signatory of the Women in Finance Charter.

That is because we have set high targets to improve the gender balance within the company and senior management, who are an integral part of the day-to-day running of the company.

We were proud to be recognised for our achievements, winning the award for the Equality Employer of the Year 2020 at the industry’s Women’s Recognition Awards.

 

Equality Employer of the Year

Representation of women at Coreco

The below data represents how the company is doing with female representation across the company.

We initially wanted to hit and maintain 50% female representation on the senior management team and maintain at least a 40% representation across the company. We have now set the bar higher.

Achieved
Year201620172018201920202021
Across company45%43%43%43%48%48%
Senior Managementn/a50%83%83%83%
Directors/Board0%0%16%28%33%28%

 

women in finance charter

Senior executive pay linked to gender diversity target

All our employees are paid a base rate and then bonused on performance-based key performance indicators. This does not differ due to gender or any other characteristic, and all members of the same team have the ability to make the same amount of money. As we increase the female presence within the company we shall make sure this is monitored and all females do not have any gap in their pay compared to their male counterparts.

These KPIs include Coreco DNA (expected levels of behaviour throughout all processes including hiring, promotion, and training) which specifically targets hiring, promoting and developing female talent in the organisation.

Andrew Montlake, Managing Director, is responsible and accountable for gender diversity at Coreco.

Coreco’s target of 50% women in senior management by April 2021 was reached earlier than expected. Our new aim is to maintain this by the previous set date and to maintain a 45% representation of women in the workforce ongoing, working towards 50%.

Coreco pledge to continue monitoring gender when hiring and promoting whilst also ensuring that Coreco represents the UK’s workforce across race, ethnicity, religion, sexual orientation, social class, and disability as well as gender.