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.
Our Race Action Plan is announced (16th July) to drive change in our Culture, Recruitment and Progression for Black colleagues. Senior Black representation stands at 0.6% and goal set to reach 3% by 2025.
Our Race Advisory Panel is formed, made up of 23 Black, Asian and Minority Ethnic colleagues from right across the business.
We delivered the start of a widescale Race Education programme with almost 60% (4,200) of senior managers and leaders to get the conversations started about race with the expertise of external thought-leaders.
We introduced a diverse shortlist and waiver process for executive appointments to ensure these include at least one Black, Asian and Minority Ethnic candidate.
We marked Black History Month by sharing stories of Black Excellence amongst our colleagues and hidden figures in history.
Lloyds Banking Group stands with Business in the Community to support the call on government to make Ethnicity Pay Gap Data a reporting requirement for companies.
We upskill our recruiters, hiring managers and third-party suppliers to ensure they understand our expectations and have the tools to hire inclusively. As part of this, we’ve started working with new recruitment partners to help us better reach Black, Asian and Minority Ethnic talent.
Our Race Action Plan is widened to look at supporting challenges faced by Black communities externally, starting with a partnership with Foundervine and our sponsorship of the Black Business Network’s Black Investor 360 event for 2020 and 2021.
We launched a new Talent Identification & Sponsorship Programme internally for our Black senior managers.
We published our first Ethnicity Pay Gap Report.
43% increase in the number of advocates who had signed up to our REACH colleague network.
Our newly established Black Business Advisory Committee, chaired by leading businesswoman and former Cabinet Office advisor Claudine Reid MBE, completes recruitment. All 12 members bring with them a diverse set of experience and expertise, which will equip them to investigate in detail the barriers to growth for the Black business community. The first committee meeting was held on 17 February 2021, at which the plans and ambitions for their work was discussed.
As part of our Helping Britain Recover plan, the Lloyds Bank Foundation for England and Wales will focus 25% of funding to support Black, Asian and Minority Ethnic led charities.
We completed delivery of specialist Race Education training to around 500 colleagues across critical ‘people process’ teams and launched the roll out of Race Education training for our line managers within the organisation.
We collaborated with the City and Mental Health Alliance on the Mental Health and Race at Work report, which seeks to build the business community's understanding of the challenges faced by Black, Asian and Minority Ethnic employees at work, and how this impacts their mental health.
More than 9,700 line managers have signed up for our Race Education programme.
Launched the National Black Entrepreneurs Community Conversation, a series of events to build relationships and trust within the community.
Developed and launched the Black Business Resource Hub in collaboration with the Black Business Network – which is a directory of business resources and organisations that support Black and diverse entrepreneurs for the lifecycle of their businesses.
Launched refreshed Inclusive Hiring guidance and rolled out Inclusive Hiring Masterclasses reaching over 1,200 colleagues.
Colleagues shared stories about their heritage as part of Windrush Day on 22nd June.