The Association of British Insurers (ABI) and 32 of its members have signed up to Business in the Community’s Race at Work Charter to help improve opportunities for black, Asian and minority ethnic (BAME) colleagues.
They are among the first wave of insurers and long-term savings firms to commit to the charter, which consists of five principles to ensure organisations address barriers to recruitment and progression.
These include:
- Appointing an executive sponsor for race
- Capturing data and publicising progress
- Ensuring zero tolerance of harassment and bullying
- Making equality in the workplace the responsibility of all leaders and managers
- Taking action that supports ethnic minority career progression
“The Black Lives Matter movement has brought home to us all the need for urgent change to deliver greater equality of opportunities,” said Yvonne Braun, ABI director of long-term savings, policy and protection.
“Our sector has an important role to play in fostering diversity and inclusion in business, and we’re proud to commit to the Race at Work charter, alongside 32 of our members.”
Allianz, Aviva and BlackRock are among the ABI members to have signed up to the charter, joining hundreds of additional UK businesses across a variety of sectors.
The ABI has also launched a new internal inclusion strategy, and set new targets for gender diversity within the organisation.
Achieving a 50/50 female-to-male split across its senior management by 31 December 2022, and using blind recruitment processes to mitigate against the risk of unconscious bias, are among the new commitments.
"Whilst we’ve made progress as an industry on issues like gender equality, we know overall that progress is too slow,” said ABI director-general Huw Evans.
“Making our industry more representative of the customers we serve is vital, but we also need to focus on how we retain and develop talent and create the kind of inclusive environment that people want to be part of.”
Image credit: iStock
Author: Chris Seekings