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Inclusion@Lloyd’s launches new Data Collection Toolkit

24/09/2019

Third publication from the Lloyd’s’ market governing D&I body focuses on visibility of workforce diversity to support greater inclusion

24 September, London 2019: Inclusion@Lloyd’s, the group that sets diversity & inclusion strategy and provides guidance for insurance firms in and around the Lloyd’s market is pleased to announce the publication of its 3rd toolkit on Data Collection.

Timed to co-incide with the 5th annual Dive In Festival for Diversity & Inclusion in Insurance, the guide sets out the business case for collecting data on the make-up of the workforce.

Commenting on the launch, Marc McKenna-Coles, Global Diversity & Inclusion Manager at Lloyd’s observed, “Monitoring the diversity of your workforce over time is crucial to understand not only who is in the organisation now, but also what groups of people and diverse perspectives you might be missing out on. Collecting data also provides a benchmark against which D&I programme effectiveness can be measured to chart the cultural development of your organisation.’

The guide is organised into 5 simple steps, mirroring the first Toolkit which has had a lot of positive feedback for its ease of use. It covers;

Step One: The context for data collection

Step Two: How to collect data

Step Three: Communicating

Step Four: Reporting and measuring

Step Five: Informing future actions and goals

Erik Johnson, Inclusion@Lloyd’s Committee member and  Head of Syndicate Management & European Distribution at Pioneer Underwriters added, “We consulted with the Inclusion@Lloyd’s Partner Networks as part of the research for the advice in the guide. They are the experts on the ground and a valuable resource when it comes to understanding how to approach subjects that people can sometimes find sensitive. We would encourage anyone involved in implementing new D&I practices that involves communicating with specific groups to get them involved.’

The toolkit summarises 5 golden rules for how to make data collection strategies successful:

Nero Ughwujabo, a Special Advisor on Diversity and Inclusion who served in Teresa May’s Government commented, “In the UK, data gathering to report on the gender pay gap is creating an important annual opportunity to check in on one key measure of diversityand equality progress at the individual company, sector and national level. As awareness of the commercial and societal benefit of broader workplace diversity grows, with a particular focus on ethnicity and social mobility, the requirement for companies of a minimum size to report on progress looks set to increase, so I would advise companies to get on the front foot and establish good data collection practices now.”