Lloyd, however, emphasized that while improving this expression at all levels is a priority, appropriate data is needed to measure its progress. Therefore, we plan to require the collection of ethnic data in 2021 to further improve the dataset.
“In the last 12 months, we have already made progress in this area,” said Lloyd. “Ethnic disclosure rates have increased by 11 points to 60%, and 74% of businesses are now able to provide ethnic data. 2020. Unless you are determined to address this issue in a meaningful way. I can’t. “
In addition to ethnicity, other important areas of focus for the Culture Dashboard, the second type following last year’s first report, include culture and gender. Lloyd continues to ensure that culture remains a priority, with a significant increase in the proportion of risk committees (up 24%) and boards (up 31%) that list culture as a permanent agenda item. Said that he was “relieved”. On the leadership agenda.
When it comes to gender, Lloyd is pleased to have made progress in achieving gender balance across the market, but recognizes that there is still a long way to go. Although there is a particular increase at the board and executive level, Lloyd pointed out the need to raise the level of representation of his direct reports to the executive committee.
“From a corporate perspective, we have reached gender equality at the overall leadership level. Throughout the market, our 35% aspirations have already been achieved by 28% of companies, but this is all over. We need to work hard to improve ourselves. “
Key components of the culture dashboard
- Data and Targets – Lloyd’s has set the ambition that one-third of new hires should come from ethnic minority backgrounds. We are also investing in data capabilities that analyze attractiveness, recruitment, progress, and performance trends to gain a better understanding of how features can be improved. We also announce the national wage gap every year.
- Talent and Charm – Lloyd’s aims to strengthen comprehensive recruitment practices across all roles and increase the variety of interviewers available for interview panels. Work with external recruiters to build more external partnerships and increase the ethnically diverse candidate list of experienced recruiters. In his early career, he worked with the London Market Group to raise awareness of opportunities in the insurance industry.
- Talent Management – Lloyds identifies participants in leadership development programs for ethnic minority colleagues within the company and market Accelerate. It also establishes sponsorship and mentoring opportunities for ethnically diverse employees.
- External Promotions, Advocacy, Engagement – Lloyds hires archivists to better understand Lloyd’s historical relics and incorporate ethnic diversity efforts into Lloyd’s stories. On an ongoing basis, the market shares stories that explain and celebrate the ethnic diversity within the market with businesses.