Race Action Plan: our stand against racism
At Lloyds Banking Group, we stand against racism and discrimination in all its forms.
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 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.
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, continues 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 deliver a Race Education programme, and have already delivered a series of sessions for our people teams, senior leaders and line managers. Participants learn about the challenges faced by Black, Asian and Minority Ethnic communities and are better equipped 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.
5. We’ve committed to publishing our Ethnicity Pay Gap report (PDF, 6.6MB) annually.
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 help address challenges faced by Black communities, beginning with establishing the Black Business Advisory Committee and working in partnership with Foundervine and the Black Business Network.