Lloyd’s culture survey records improvements but perceptions of BAME workers fall

Lloyd’s said improving the working experience for black and minority ethnic (BAME) colleagues is a “top priority” after its second culture survey revealed better experiences for women but lower satisfaction among BAME workers. The survey found BAME respondents were less likely to raise discrimination concerns, had higher levels of distrust in senior leaders and were more likely to disagree that colleagues act honestly and ethically. “Additional focus is needed to improve opportunities and experiences among these groups… and create an environment free from injustice,” Lloyd’s said. Lloyd’s CEO John Neal said feedback from his BAME colleagues has “reinforced” Lloyd’s commitment to address the “inequalities and lived experiences of black and minority ethnic colleagues across the market”. Lloyd’s said the survey has tracked positive and measurable change since a culture of sexual harassment and inclusivity issues was aired in the press during 2019 The 2020 poll reveals improvements across all four priority areas identified by Lloyd’s last year. Women’s perceptions improved by seven points between 2019 and 2020, but remain lower for 22 of 36 questions. Meanwhile, 14% of all respondents do not believe market workers have equal opportunities, down from 19% in 2019. Conducted during a period of work disrupted by Covid-19 and a move to home working, the survey found the number of Lloyd’s workers that witnessed sexual harassment in the past 12 months dropped to 4% from 8% in in 2019. Some 13% witnessed excessive consumption of alcohol in the previous 12 months, compared with 24% in the 2019 survey. The survey, conducted between September and November last year, tracked improvements in almost all key areas. The number of people that felt comfortable raising concerns about behaviour improved from 45% to 50%. The number who raised a concern and felt they were listened to rose from 41% to 57%. Some 33% said they did not know who to raise concerns to in the Lloyd’s market, compared to 38% in 2019. Some 8% of respondents said they do not believe senior leaders take responsibility, especially when things go wrong. But this is down from 16% in 2019. And the proportion of respondents that said people in their firm turned a blind eye to inappropriate behaviour fell to 15% from 22%, which Lloyd’s said was still “unacceptable”. On wellbeing, 15% of Lloyd’s workers said their organisation had a negative impact on their health and wellbeing, down from 23%. But there was no improvement in the 40% of respondents that feel under excessive pressure to perform at work. Nine in ten respondents said their line manager had supported them through the coronavirus crisis. Last year, Lloyd’s’ history led to an apology from the market for its links to the 18th and 19th century slave trade, and a commitment to take action for today’s BAME communities working in the market. It will set a market target for ethnicity in Q2 2021 similar to the gender targets already in place, which include 35% female representation in leadership roles across the market by December 2023.

Lloyd’s culture survey records improvements but perceptions of BAME workers fall

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