HSBC UK has been recognised as the most inclusive employer for ethnic groups in the UK according to the Investing in Ethnicity Maturity Matrix. HSBC UK tell us about the measures they have been putting in place to achieve this ranking.

Introduction – The 3Rs

At HSBC UK we believe that being inclusive of everyone helps us to be better for everyone. We value difference. A truly international bank, and more ethnically diverse than the UK. Our employees represent over a hundred different nationalities and come from all the major faiths of the UK. Difference is our strength. It drives our entrepreneurial spirit to deliver good service to all our customers, who after all are just as unique as each of us. Our approach to inclusion is, unsurprisingly, inclusive. For us, it is fundamental that we include the people we aim to support in developing our inclusion plans. So when we deliver inclusion, we do so in partnership, engaging colleagues, senior leaders, specialist teams and external expert groups to all be a part of the change.

Our strategy is simple. It is focused upon delivering better outcomes for all of our customers, colleagues and the wider communities. We call it our 3 Rs because it focuses upon Representation, Respect and Reputation:

• Representation – We aim for our colleagues to reflect the diversity of the UK population at all levels
• Respect – We are driving an inclusive culture where all people feel that they belong and are able to reach their full potential
• Reputation – We are building a positive Reputation as an inclusive business which our colleagues can be proud of and that our customers and members of the wider UK community can trust

How does the Index support our work?

We take our submission to the Investing in Ethnicity Matrix seriously. The result of the Matrix is one of the indicators for inclusion that we report to our Board. The Matrix helps us to track progress, identify gaps, and set plans to improve. Our annual submission is compiled through teamwork. Each section of the index is responded to by a colleague who is directly responsible for the associated programme of work. In this way, colleagues from HR, Procurement, Customer, Communications and other teams are involved. This is their opportunity to demonstrate the difference that they have made in the year. To ensure transparency, our Ethnicity Employee Resource Group reviews responses against colleagues lived experiences. And to ensure accountability, the submission must be approved by our Executive-led Ethnicity Inclusion Steering Committee. In this way, the Matrix enables engagement and accountability of key stakeholders in our ethnicity inclusion programme.

What are we doing that makes the biggest difference?

Our Ethnicity Steering Committee is the key driver of our improvement. The SteerCo is chaired by a member of our Executive Team. Members are all considered equal and include, co-chairs of our Ethnicity ERG Embrace, Head of Inclusion, HR leads for Recruitment and Talent & Learning, Communications, Procurement, and Exec-1 representatives of all operational business teams.

The SteerCo has led phenomenal change. High impact interventions have included:

Representation

• Target setting to increase Black representation at senior leadership (representation of other ethnic groups already at least matching UK census)
• Annual publication of ethnicity representation and Ethnicity Pay gap, including ethnicity categories
• Delivery of bespoke career development to 1,500+ colleagues from Black Asian and Ethnic Minority Groups
• Introduction of mandatory inclusive recruitment training
• Integration of ethnicity consideration into succession conversations

Respect

• Holding leader led conversations about race and identity throughout our business
• Supporting over 4000 colleagues through our Ethnicity and Faith Employee Resource Groups.
• Raising colleague awareness through celebratory and educational events including amongst others, Eid al Fitr, Easter, Hannukah, Diwali, Vishaka, Black History Month, Lunar New Year, Windrush and South and East Asian Heritage Months
• Tracking and aiming to reduce the inclusion engagement gap between colleagues of different ethnicities
• Introducing conscious inclusion to systems and processes, through creating provision for diverse colleague consultation in key matters, including design of people policies & benefits, branch and building refurbishments, customer experience design and communications

Reputation

• We are focused upon providing good service for all customers from all ethnic backgrounds and train customer facing colleagues to understand difference
• We partner with groups supporting Black and Asian business, including headline sponsorship of the Black Business Shows in London and Birmingham
• We partner with groups supporting Black and Asian communities, including #Merky Stormzy scholars initiative, and #Merky Books outreach into schools
• We have introduced systems to support our aim to increase our procurement of services from diverse and inclusive business
• We have integrated inclusion messaging into our Brand, including our TV adverts challenging barriers to progress

Measuring impact

• Through having a specific focus upon improving ethnicity inclusion, we have been able to make a significant difference.
• Already representative of UK ethnicity in general, our focus upon addressing gaps has enabled us to more than double representation of Black heritage leaders.
• We have more than halved our colleagues ethnicity engagement gap.Through our partnership with the Black Business shows, we are supporting 11,000 entrepreneurs each year.
• Through our partnership with #Merky, we have supported 60 Black students (Stormzy Scholars) from lower socio-economic backgrounds to attend Cambridge University. And through our partnership with #Merky books, we have introduced over 12,000 school children to Black literature and financial education.