A blueprint for gender equality
"Fiona Cannon reflects on the progress the Group has made since it became the first FTSE 100 company to set a gender representation goal."
"At the time of writing, women make up
of our leadership population."
The fact that we have been recognised as a Times Top Employer for Women for the last 11 years, and have featured in the Bloomberg Gender-Equality Index for the last five years, shows that we are heading in the right direction.
More importantly, though, our colleagues are recognising the progress we’ve made too. 90% told us their manager actively values different views and opinions, and 86% said the Group is an inclusive place to work where diverse perspectives are valued.
Our gender equality blueprint
We’ve already taken steps to make Lloyds Banking Group the best place for women to work, including more agile working, menopause support and improved pathways to leadership.
"We have set our own target of
women in senior roles by 2025."
Flexible working opportunities are at the heart of working at Lloyds Banking Group. It’s important to us that our colleagues have a rewarding career and a healthy work-life balance. We are clear that flexible working is open to all, not just parents or carers – colleagues use it to study, volunteer or pursue a passion. We know flexibility also helps us manage and adapt to changing customer needs.
Reduced hours, job sharing, hybrid working, shift patterns, split shifts are some common practices, but we aim to not limit what is available via a set list. Instead, we encourage colleagues and managers to find ways of working that work for them, their team and their customers.
We make sure colleagues have the right equipment and tools to have a great homeworking experience with over 70% working flexibly or in a hybrid manner. Flexible working is available to everyone. 23% of our workforce work reduced hours and 91% of them are women. 47% of all colleagues are making use of flexibility in their working hours. (At a senior level this is 37%.)
Flexible working is available from day one and 99% of our job adverts in 2022 promoted flexible working. Recruiters and hiring managers complete our inclusive hiring training which promotes flexible working and guides hiring managers to recruit for skills and capabilities regardless of when, where or how people work. 2,000 hiring managers attended Inclusive hiring training in 2022.
We’ve created a manager training suite to help us embed flexibility, including what flexible ways of working are, having good conversations, approaching different flexible working scenarios, managing flexible working and flexible recruiting. Over 1,000 line managers have already completed this.
Ensuring a gender-diverse recruitment strategy
We have continued to drive progress around developing our talented women and are committed to their progression and recruitment through our existing activities and networks.
We utilise an artificial intelligence tool to improve the tone and language of job adverts to attract more women and in 2022, 99% of job vacancies promoted flexible working.
For senior appointments, gender diversity is monitored and we aim to attract and employ talented women into the Group.
Lloyds Banking Group Returners
Our Returners programme, now in its seventh year, targets professionals who have been on a career break for 18 months or more. It enables returners to resume their career in a role that matches their skills and experience. In 2022, we made improvements, offering candidates permanent job positions from day one, while still supporting them with an on-boarding training programme. The programme has a strong uptake from women, which has resulted in opportunities for 140 talented individuals since its launch. The programme was shortlisted for Most Successful Returners Programme at the Women in Banking and Finance Awards 2022.
At the time of writing, more than half of our colleagues are women, of which around 30% are over 40. It follows that they should be able talk about menopause and seek support when they need it, without feeling uncomfortable.
With this in mind, in 2021 we launched a new initiative to provide more menopause support to our colleagues.
The scheme, which also includes extra support to help managers speak confidently with their teams, includes greater medical support and care, a dedicated menopause helpline, online hub, plus changes to the Group’s Health and Wellbeing programme.
Since launching our proposition, we have experienced a major cultural shift as we continue to remove the taboo around menopause and support all of our colleagues to be menopause aware and informed. We’ve recently become independently menopause friendly accredited and we are immensely proud of this achievement. We are committed to providing menopause support to anyone who needs it.
Our gender commitments
We've committed to becoming a leader in gender diversity. We recognise that companies with proportionate gender diversity see increased performance, and make better decisions.
Support through our women's network
Our gender diversity network, Breakthrough, supports the development of our colleagues with c.10,000 members. Breakthrough regularly runs events to support colleagues in fulfilling their career potential. Throughout 2022, the network held a series of events from helping colleagues make their money go further through the increased cost of living, to sessions with women in senior positions across the Group, helping colleagues at all grades learn the various routes that leaders have taken to get to where they are today, inspiring our leaders of tomorrow.
Put simply, there is no shortage of talented women; we need to ensure the opportunities are there for them to succeed.
And a gender inclusive senior leadership board offers benefits such as different perspectives which, in turn, create innovation, new opportunities and in many cases a boost in productivity.
With this in mind, we’ll continue taking the steps outlined above to increase both gender diversity, and also inclusivity across the organisation more generally. Notwithstanding the progress we’ve made so far, there’s plenty more we need to do to reach a gender equal workplace.
Going forward, then, we will continue to embed inclusion into our business strategy and strive to make Lloyds Banking Group the best place to work for women.