Lloyd’s still struggling on race, gender and well-being

Results from the Lloyd’s 2020 annual culture survey show the market still lags behinds its aspirations to be an inclusive market with a positive culture.

The market said measures to deliver positive change in 2021 would include continuing to drive and track progress against the gender target and the setting of a market target for ethnicity in Q2 2021, supported by the launch of a long-term ethnicity action plan.

The research found that although 74% or respondents believed senior leaders created opportunities for everyone, this dropped to 46% amongst those who identified as Black/Black British, 63% amongst Asian/Asian British and 64% amongst Mixed/Multiple ethnic groups.

This year’s research found that only 50% (2019:45%) of respondents felt comfortable about raising concerns about behaviour in the Lloyd’s market. Just over half (57%) who had raised a concern felt they were listened to and taken seriously. This was up from 41% in 2019.

15% (2019: 22%) of those asked said their organisation turned a blind eye to inappropriate behaviour. The figure more than doubled to 32% amongst Black/Black British respondents.

65% (2019:51%) of women were positive about how inappropriate behaviour was dealt with and 76% (2019:72%) of those questioned thought people had equal opportunities regardless of gender.

John Neal, CEO at Lloyd’s, said: “The results of our second annual culture survey show good progress in our efforts to sponsor gender parity and to our commitment as leaders to make needed and valued change. Though we are encouraged by the results of the survey, the feedback from our Black and Minority Ethnic colleagues has reinforced our commitment to address the inequalities and lived experiences of Black and Minority Ethnic colleagues across the market.”

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