Frameworks for Action

Creating tools and resources to support the market

Overview

Inclusion@Lloyd’s understands that for many organisations at the beginning of their journey, practical tools and resources can be a significant help in kick-starting engagement. Building on the success of the 5 Steps Guide to Successful Diversity and Inclusion Programmes (2016) and the Lloyd’s D&I Scorecard (both available on the Lloyd’s Diversity and Inclusion pages,) I@L continues to develop tools for adoption across the sector.

In 2017, the committee made a concerted effort to further examine inclusive cultures. Below are two examples of third-party collaboration with independent organisations to examine inclusiveness in both hiring and culture.

Accelerating Inclusive Hiring

Following the completion of a comprehensive audit process of recruitment and management policy, process and behaviours carried out in 2015/16, Lloyd’s has been working with Clear Company to support on inclusive hiring.

The Inclusive Recruitment and Talent Management system helps organisations enhance inclusive capabilities by reducing barriers to recruitment for under-represented groups. The tool tracks and monitors data to drive change and has the capability to benchmark performance against other organisations in the market.

To better understand the big-picture context outside their own organisations, users can access a bank of case studies and external data with real-time access to online expertise and ask case-specific questions of a panel of expert organisations.

With inclusive hiring as the linchpin to attracting the best talent in to the industry, this example of shared learning outside of immediate functions or organisations is one that I@L will continue to encourage.

“A good starting point is to understand what needs to change and to begin the conversation – and remember, good conversations start with good listening!”

Sarah Bond, director at for business sake consulting ltd

Inclusive Cultures: learning from focus groups

In July, 59 people from 19 different market companies participated in focus group discussions with the aim of gathering insights and experiences of inclusion in the market from the people who work there.

Discussions were scheduled for women only, men only, LGBT people, minority ethnic people, disabled people, one mixed open discussion for anyone interested in contributing, and one that targeted managers and supervisors.

Across these groups, three standout drivers were shared among respondents; wanting to be respected; wanting to be connected; and access to opportunities for success. Overall, though some perceptions of the market remain traditional and masculine, changes have been noted. Positive interpersonal behaviour, an increase in leaders advocating greater diversity and changes to company practices on D&I were all observed as encouraging steps towards progress.

Upon completion, five calls to action were developed against the biggest perceived barriers to more inclusive cultures in the organisations represented:

Systems and practices: Further gather data (at minimum on gender and ethnicity) at company level to ensure progress is tracked systematically

Opportunities: Set standards and develop an action plan to reduce barriers to recruitment of talent from a range of backgrounds

Respect: Take action to enable people from all backgrounds and at all levels in the market to speak up about inappropriate language and behaviour

Advocacy: Encourage all market firms to raise their corporate standards on inclusion and diversity. This includes training about language and behaviours and embedding expectations about diversity and inclusion into induction and the performance review process

Connections: Enable direct communications with senior market leaders and widen their understanding about the experiences of more junior people from different demographic backgrounds, alongside fostering connections between men who are willing to act as advocates for cultural change

London Insurance Life

The London Market Group launched London Insurance Life (@LIL), a talent engagement campaign that brings together young people considering their career options with people who work in the London insurance market, through targeted careers events and social media.  To engage young people @LIL harnesses the power of social media (Instagram, Facebook and Twitter) – a medium that is an integral part of their lives - to change their perceptions of insurance. The @LIL pages demonstrate the vibrancy and diversity of working life in the London market, featuring a range of personal stories, which help to open young people’s minds to a career in the market. The pages also promote entry level job vacancies and schemes for a wide range of London market organisations and these posts have resulted in many successful job applications.

In addition to using social media, the LMG hosts @LIL career events that focus on new and diverse talent pools. At the heart of the campaign are volunteer @LIL ambassadors - young professionals from across the London market who act as relatable role models for the young people we are trying to attract.  As people naturally gravitate towards people like themselves, whether that’s what they look like, common experiences or personality traits, having a diverse range of ambassadors is vital to the @LIL campaign’s success.

The LMG is funded and governed by Lloyd’s, the International Underwriting Association, London & International Insurance Brokers Association and the Lloyd’s Market Association. Member organisations can get involved in the @LIL campaign and promote their entry-level opportunities to the diverse talent pool that the campaign is attracting.