Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 118

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 118
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 regardless of their gender or ethnicity and have processes to review that remuneration is free from bias. We also review our pay practices and undertake a pay equity review annually. If pay differences are identified that are not due to objective, tangible reasons such as performance, skills or experience, we make adjustments. For further details of our representation data, pay gap data, and actions, see www.hsbc.com/who- we-are/our-people/inclusion-at-hsbc and the ESG Data Pack at www.hsbc.com/esg .

| 64 | HSBC Holdings plcAnnual Report on Form 20-F |

ESG review | Social

Fostering an inclusive culture Looking to the future and beyond our public commitments, we refreshed our global inclusion strategy to refocus our ambitions against our strategic priorities, and set out our approach to inclusion over the next three to five years. We have established key principles that enable us to pivot towards building a more inclusive culture for all of our colleagues. Our colleagues’ personal sense of belonging and psychological safety are two key measures captured as part of our Inclusion Index in the annual Snapshot survey, which we monitor and review by various identities that comprise our global workforce. In 2024 we achieved a score of 78%, which is three percentage points ahead of our annual aspirational goal, and on par with the financial services industry benchmark. Analysis of our Inclusion index allows us to measure engagement levels of specific colleague groups in greater detail, in particular different personal identities, to better understand the experiences of our colleagues globally. We found that scores from colleagues who identify as male and female were comparable, at 79% and 77% respectively, remaining unchanged from 2023. From an ethnicity perspective, our Black heritage colleagues were two percentage points below the Group-wide average, while our Asian heritage colleagues’ results were on a par with the overall score, at 78%. From a sexual orientation perspective, colleagues who identified as LGB+ were one percentage point above the Group-wide result. Our employee resource groups Bringing together the shared identities, values and interests of our colleagues allows us to build an inclusive culture across the organisation and our volunteer-led employee resource groups (’ERGs’) enable this. Our ERGs provide insight on key societal issues. Through sponsorship by our non-executive directors and our Group Operating Committee, we bring together our senior leaders and colleagues, bringing to life our values of ‘valuing difference’ and ‘succeeding together’. In 2024, our ERGs led numerous initiatives and