LOB Salary Guide RISK v5 SPREADS - Flipbook - Side 11
11
Inclusion and diversity
In July 2021, the PRA/Bank of England
and the FCA published a discussion paper
regarding inclusion and diversity across
financial services.
Since then, the FCA has released a review
into the strategies of 12 firms, and alongside
the PRA, will be finalising its position on
inclusion and diversity later this year. As
such, we expect to see more focus on these
issues in 2023 than perhaps in any other
year in recent memory.
It is therefore encouraging that our
research indicates a considerable increase
in the number of firms that believe their
organisation has a diverse and inclusive
culture (94% in 2022 versus 76% in 2021).
Our consultants are also reporting a rise
in employers asking for more diverse
candidate shortlists, with many keen to
address current imbalances within their
organisations.
There is still room for improvement,
however, with less than two-thirds (64%)
of employers agreeing their HR processes
are completely effective at ensuring
equality of progression and reward for
those with protected characteristics,
such as disability, ethnicity and age.
