Lloyds Banking Group has set a public target to increase representation of B.A.M.E. (Black, Asian and Minority Ethnic) colleagues, the first FTSE 100 company to do so.
The bank is aiming for 8% of its senior management team to be B.A.M.E. This target is set to be included in the Lloyds’ 2018 Helping Britain Prosper Plan, which will be published on 21 February 2018.
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10% of the group’s customers are B.A.M.E. and the bank to accurately reflect its customer base. Currently, 8.3% of all colleagues and 5.6% of senior management are from a B.A.M.E. background. This compares to 12% of the UK labour force and 14% of the UK population.
Fiona Cannon, Lloyds Banking Group’s Director of Responsible Business and Inclusion, said: “What gets measured gets done and we are confident we can meet our diversity goals with the right focus and determination. We recognise that companies with diverse management teams perform better and have made a public commitment to create a truly inclusive workforce. It is our ambition to better reflect the customers and communities which we serve.
“Our data shows that while we are making good progress, we think this rate of progress is too slow, so we are committing to bring change sooner. We want to put into place the right building blocks that will enable us to build our diverse talent pipeline and deliver on our commitment to Help Britain Prosper.”
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