Race

As an industry we are committed to improving ethnic minority representation across all organisational levels. According to the 2021 Census data, 18.3% of residents in England and Wales identified as non-white, and yet, the ABI DEI Data Collection from 2022 shows that the proportion of black and minority ethnic employees at a total organisation level was at 10%.

We have been encouraging our members to sign up for Business in the Community’s Race at Work charter as part of our industry's collective commitment to enhancing opportunities for talent from ethnic minority backgrounds.

Attract

Support the #10000blackinterns initiative and pledge to offer paid internships to young Black people.
Establish a network of relationships with local education and skills providers to ensure they are aware of the opportunities insurance and long-term savings firms operating in their area offer, and the skills required.
Create opportunities for employees from all backgrounds to act as ambassadors for the industry to potential recruits.

Grow

Consider signing the Business In The Community’s Race at Work Charter .
Appoint an Executive Sponsor for Race and provide support and encouragement for race inclusion allies across your firm.
Make decision-making on DEI policies more representative by involving internal working groups, forums and networks that feature employees from all levels of seniority and experience.
Develop internal targets and a strategy for the progression of under-represented groups into senior roles.
Establish mentorship and sponsorship programs specifically aimed at connecting Black employees with experienced colleagues who can guide and advocate for their career growth.
When considering promotions, use diverse interview panels to minimize bias in candidate selection.

Advance

Aim to publish Ethnicity Pay Gap information annually (even if out of formal scope for any legislative or regulatory disclosure requirements) and provide an action plan and narrative so that these results can be interpreted by your employees.
Further enrich your understanding of inclusion in your organisation consistently by aiming to progress towards Level Three and Level Four of the Financial Services Skills Commission’s inclusion measurement guide.
Review and update targets on ethnicity (as set under their respective charters) and, where an appropriate evidence base exists, set individual targets for other characteristics.