Thursday 5 November 2020 1:25 pm

Lloyd's to revamp company cultural following sexual harassment incidents

Lloyd’s of London recently quizzed employees on its culture in a bid to improve its work environment for women. The move follows reports of sexual harassment at the firm in recent years. 

Last month Lloyd’s launched its 2020 culture survey, the second culture survey carried out by the business. The market’s first 2019 survey found 8% of Lloyd’s workers reported having seen sexual harassment in the 12 months prior.

Read more: Lloyd’s of London falls to £400m loss due to coronavirus claims

No employees were sacked following the harassment reports. 

“Our first culture survey 12 months ago was a stark reminder as to how much we needed to do to improve our work environment for women,” a Lloyds spokesperson explained.

“It has never been more important for Lloyd’s and the market to take action and together drive the transformational culture change that will determine our success. Participation in the survey is vital to informing our cultural agenda and so that we can create the fullest picture to inform our future actions for the corporation and the market.”

‘Culture dashboard’

Changes to culture are part of Lloyd’s ‘Blueprint Two’ plan, which builds on a previous iteration called ‘Blueprint One’ and aims to radically shift the market to a “digital ecosystem”.

Part of ‘Blueprint One’ included building an “inclusive and innovative culture that attracts talented people to Lloyd’s”. Steps planned included launching a new ‘culture dashboard’ and setting gender targets for the market. 

The ‘culture dashboard’ was launched in July 2020. The data it holds will be informed by Lloyd’s culture surveys and is intended to transparently track Lloyd’s collective progress towards a much more inclusive environment.

Lloyd’s has also said it would like to achieve gender parity in the next decade – “the sooner the better”. Just under half (47%) of leadership roles at the corporation are filled by women. 

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