Our stand against racism
At Lloyds Banking Group, we stand against discrimination in all its forms. We have been striving for inclusion and equality, but there is much more to do.
As a Group, we’re guided in how we do things by a clear set of values. A key part of how we seek to live and breathe these values is to strive to create a fully inclusive environment for all our colleagues, customers and communities, one that is truly representative of modern-day Britain.
While we’ve worked hard over the years to create a more inclusive organisation, the launch of the Race Action Plan in July 2020 was a real turning point in our journey. Launched against the backdrop of the Black Lives Matter movement and the coronavirus pandemic, the Plan has helped us to address the specific challenges we know our Black colleagues and customers are facing.
As we help Britain recover, we’re committed to building an organisation that’s truly inclusive and involves all communities from across the UK.
Our Race Action Plan is underway
These are the commitments that make up our plan, and like any good plan, we’re continually reviewing and updating with input from our Advisory Panel to ensure, our actions are the right ones.
1. We’ve set a public goal, complementing our broader 2018 Black, Asian and Minority Ethnic target, to specifically increase Black representation in senior roles from 0.6% at senior grades to at least 3% by 2025, to align with the overall UK labour market.
2. Our Race Advisory Panel, made up of 23 colleagues of Black, Asian and Minority Ethnic heritage, has been established for the past twelve months to influence and inform our ongoing diversity strategy and ensure we are making the right progress.
3. We’re working in partnership with external experts to develop a Race Education programme and have already delivered a series of sessions, for our senior leaders and line managers to learn about the challenges faced by Black communities, and to equip them to have honest conversations with their teams about race and ethnicity.
4. We’re continuing to undertake regular listening sessions to gauge and understand our colleagues’ experiences and progress against our plans. As of October 2020, almost 200 colleagues of Black heritage have given us their views so far. We plan to keep on listening.
5. We’ve met our commitment to publish our first Ethnicity Pay Gap report by the end of 2020.
6. We ensure diversity on all our senior executive recruitment shortlists with a Black, Asian and Minority Ethnic candidate. We’ve trained recruiters, hiring managers and third-party suppliers to ensure they understand our expectations and have the tools to hire inclusively.
7. We’re nurturing our talented Black colleagues by creating specific development and sponsorship programmes for both middle management and senior grades, so that we can help break the ceiling for senior role models.
8. We're taking our work beyond our own organisation to start to help address challenges faced by Black communities, beginning with establishing the Black Business Advisory Committee and working in partnership with Foundervine and Black Business Network.
Progress timeline
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