Our aim is to increase the ethnic diversity of our workforce and unlock the potential of our Black, Asian and Minority Ethnic colleagues.
In an increasingly multicultural society, we can only truly become Best Bank for Customers if our workforce reflects the ethnic diversity of the UK population.
In July 2020 we launched our Race Action Plan to drive cultural change, recruitment and progression across the Group.
Complementing our latest aspirations to increase representation of Black, Asian and Minority Ethnic colleagues to 13% at senior management levels, we also aim to increase Black representation in senior roles to at least 3% by 2025, aligning with the overall UK labour market.
As part of our Race Action Plan, we also voluntarily published our first Ethnicity Pay Gap Report.
Our ethnicity strategy
Building cultural awareness
For the past two years, all our colleagues have taken part in cultural capability training. Understanding and enquiring about each other's cultural identities is vital for us to build stronger working relationships and succeed as a modern organisation.
Our REACH Network (Race, Ethnicity and Cultural Heritage) connects, supports and develops colleagues from a range of ethnic and cultural backgrounds, with membership open to all colleagues.
Our REACH members and advocates are passionate about supporting communities. One way in which this is achieved is through our RISE programme, which inspires students from underrepresented and disadvantaged backgrounds to explore opportunities in banking.
The REACH network has over 4,000 members and 700 advocates. It was named Best Network at the inaugural Investing in Ethnicity Awards in 2018.
We believe in empowering and supporting all colleagues to achieve their potential. The scale and reach of the Group means there are many opportunities for learning and growth, including some bespoke career development, authentic leadership and sponsorship programmes for colleagues from a Black, Asian and Minority Ethnic background.
Ethnicity Pay Gap Report
Following the launch of our Race Action Plan in July 2020, we committed to voluntarily publishing our Ethnicity Pay Gap Report.
We’re publishing our data because it is the right thing to do and we’ll continue to share this annually so we can track our progress and continue to take action to narrow the gaps that exist.
While our data tells us that on a mean average basis, none of our Black, Asian or Ethnic Minority colleagues are paid less at any individual grade, our Ethnicity Pay Gap Report reveals that there is a clear difference in the representation of Black, Asian and Minority Ethnic colleagues within senior management levels in our business, and that this difference is at its widest amongst Black colleagues specifically.