Lloyds first FTSE 100 company to set diversity target

Lloyds Bank has recently become the first FTSE 100 company to announce a diversity target to boost the number of staff from BAME (Black, Asian and Minority Ethnic) backgrounds in senior management.

The bank will be increasing BAME employees in senior management roles from 5.6 per cent to 8 per cent as part of its 2018 Helping Britain Prosper Plan which is set to be published next week.

Commitment

The target comes as part of Lloyds Bank’s commitment to improve racial and cultural diversity, with the bank announcing in 2014 it would be aiming to boost the engagement level of its BAME workers to 70 per cent by 2020. The bank met this target last year, achieving a level of 73 per cent.

The bank has launched a number of initiatives to boost diversity, including career development programmes and leadership programmes, and has also given its employees the opportunity to meet role models from a BAME background.

In addition to boosting the number of BAME staff in senior management roles, the bank has set a target to increase its total BAME workforce from 8.3 per cent to 10 per cent.

Confident

Lloyds Banking Group Director of Responsible Business and Inclusion Fiona Cannon said that they are confident that they can meet their diversity goals with determination and focus.

She added that they recognise that businesses with diverse management teams perform better and have made a public commitment to establish a truly inclusive workforce.