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Inclusion And Diversity

We believe in a culture and inclusive colleague experience that values people from all walks of life. Please come as you are. We respect, value and embrace diversity and ensure everyone is recognised and respected for the different perspectives they bring.

CHRIS HILL, CEO

Our strategy

We are committed to building an inclusive and diverse workforce, this is one of our strategic pillars, not simply because it is the right thing to do, but because we believe it will lead to better outcomes for clients, colleagues and our business and enable our sustainable growth.

Our Inclusion and Diversity (I&D) strategy focuses on 4 pillars, each pillar is supported by a detailed action plan to ensure we attract, hire, progress, engage and retain diverse talent and build upon the progress we have made.

Building an inclusive culture and brand

  • Inclusive culture objective for all colleagues
  • 7 colleague led network groups, sponsored by Directors
  • Supporting the community – Bristol Pride and St. Paul’s Carnival
  • Inclusion and diversity training for colleagues and leaders

Data and Accountability

  • Aspirational representation targets for gender and ethnicity
  • ExCo have I&D specific objectives
  • Exco and Board oversight and tracking of progress against I&D strategy

Recruitment and Representation

  • Hiring manager training to reduce bias
  • Ongoing commitment to diversifying advertising channels
  • Diverse candidate slates and interview panels for senior roles, where possible
  • Standardised and accessible recruitment processes
  • Review of job adverts for inclusive language. Inclusion and flexible working statements included in all adverts

Progression and Retention

  • Mentoring and Sponsorship schemes for diverse talent
  • Career Confidence Mentoring Scheme for all colleagues
  • Supporter of the Bristol City Council Stepping Up Program
  • Standardised pay, performance and promotion processes

The HL Way

We have launched the ‘HL Way’ as an umbrella term for ‘how’ we act at HL. The HL Way encompasses our values, our standards and the way we behave to deliver the best outcomes for clients, colleagues, communities and the business. The HL Way has been created through consultation with colleagues and is based on the best practice that already exists within the business. It is made up of a set of tools and guidance that helps colleagues with putting our values into practice and making good decisions.

Our I&D Objectives

The objectives of our Inclusion and Diversity strategy are to build upon our inclusive culture, increase ethnic minority representation and to continue with progress we have made around increasing female representation.

Our Inclusive Culture

I&D Objective

We believe that this is everyone’s responsibility to contribute towards building an inclusive culture and have introduced an I&D specific objective for all colleagues to ensure we are playing our part.

Colleague engagement and listening

We believe it is important to listen and understand our colleagues’ views and motivation as their honest feedback is crucial to our continued success as a business. As well as our twice-yearly engagement surveys we have also run regular pulse surveys to keep a constant monitor on colleague sentiment and respond to the insights.

We also have our workforce advisory panel, the HL Colleague Forum. The Forum was set up in January 2019 in line with the UK Corporate Governance Code to make sure that the ‘voice of the workforce’ is considered in the decision-making process of the Board. This is an important forum for obtaining and discussing colleagues’ views on key matters affecting the key matters affecting HL.

Network Groups

As part of our commitment to I&D we have a number of colleague-run networks which provide community, awareness and engagement alongside helping to challenge us to keep improving.

Developing our people

We have signed up to a range of schemes to help grow the skills and capabilities of all of our colleagues and have set up programmes to offer additional support for our diverse talent. Here are some examples:

  • 30% Club Women Ahead program is a cross sector mentoring programme focusing on the progression of high potential women into more senior roles. Participate as mentees and mentors in the programme.
  • Participation in the Bristol City Council’s Stepping Up Initiative, a programme focused on changing the future leadership landscape. Stepping Up is open to colleagues from ethnic minority backgrounds and/ or colleagues with disabilities.
  • Sponsorship - a programme aimed at mid-level female and ethnic minority talent to support their progression through to more senior levels.
  • Reverse Mentoring – a scheme providing junior colleagues with the opportunity to build senior leaders' understanding of the experiences of junior colleagues in HL from a range of underrepresented groups and give senior leaders the opportunity to support their career development.
  • Career Confidence Mentor Scheme – an internal mentoring programme open to all HL colleagues with a focus on building mentees confidence and supporting them to reach their potential.
  • #iamremarkable initiative - Three HL colleagues have trained to become facilitators of Google’s #iamremarkable initiative which aims to empower women and other under-represented groups to celebrate their achievements and support their career progression.
  • Women in Tech Group - Colleagues in technology have established a new group which aims to support the hiring, progression and retention of women in Technology at HL.

Diversity by numbers

(as at December 2020)

External Commitments and Partnerships

Race at Work Charter

We have signed up to the Race at Work Charter which is designed to improve the outcomes of ethnic minority people in the workplace. The 5 ‘calls to action’ outlined in the charter have helped shape many of the actions outlined in our new strategy such as implementing targets and doing more to support career progression. Alongside the activity mentioned above this will be a visible commitment that helps hold us to account on our actions.

Living Wage Accreditation

Hargreaves Lansdown is proud to be accredited by the Living Wage Foundation as one of the 7,000 businesses nationwide recognised for being a living wage employer, paying a real Living Wage based on the cost of living, not just the government minimum.

Women in Finance Charter

Our commitment to diversity and supporting the progression of women into senior roles ties in with the aims of the Women in Finance Charter, a government initiative which promotes diversity and inclusion.

Our aim was to increase female representation at senior management level to between 25 - 30% by 2021. We are proud to have achieved our target early and have recently agreed revised aspirational targets for senior female representation and added a new target specifically focused on increasing female representation in our leadership ‘pipeline’. Our new senior target range is to have 36-40% female representation by the end of 2025, to help continue the year on year progress that has been seen since signing up to the Charter.

Aug-16 Aug-17 Aug-18 Aug-19 Aug-20
21.7% 24.2% 26.6% 27.9% 30.4%

One of our Inclusion and Diversity strategic priorities remains to hire more, promote more and lose less mid to senior level women and to focus increasing female representation and retention in areas of the business that contribute disproportionately to our Gender Pay Gap. We believe our commitment to building an inclusive culture will create a workplace where everyone can flourish.

Stonewall

We are one of a growing number of leading organisations who with the specialist support of Stonewall are creating LGBTQ-inclusive workplaces. We are proud to have become Stonewall Diversity Champions. This partnership enables us to access the tools, resources, expertise and best practice so that we can better support our colleagues and ensure all LGBTQ+ colleagues can be themselves at work.

Inclusive Employers

Partnering with Inclusive Employers shows our commitment to building a market leading culture. This partnership gives us access to expert inclusion and diversity support from established leaders in the field, ensures we understand I&D best practice and helps drive us forwards to create an environment where everyone can thrive.

Bright Network

We are proud to be partnered with Bright Network who connect the next generation with the opportunities, insights and advice to succeed as the workforce of tomorrow. This partnership enables us to reach a wider pool of candidates, access more diverse talent and advertise our early career opportunities through different channels.

30% Club

We are a proud member of the 30% Club which works to increase the numbers of women on FTSE-100 boards and support diversity at all levels of an organisation.

Bristol Equality Charter

The Bristol Equality Charter has been set up to help improve equality, diversity and inclusion across Bristol. We have been involved from the outset in this important initiative and were one of the first signatories.

Women in Business Charter: Bristol

We are proud to be signatories of the Women in Business Charter which supports businesses in and around Bristol that are making progress towards gender equality and aims to accelerate the pace of change for the benefit of women, the businesses they work in and the communities they live in by driving action around their seven goals.

We believe that diversity amongst board members is of great value but that diversity is a far wider subject than just gender. As of today, the Board numbers 9 in total, comprising 2 executive directors and 7 non-executive directors of which 6 are independent (including the Chair). Women directors constitute 33% of the Board. In addition the Board meets the Parker Review recommendation for FTSE100 Boards to have at least one director from an ethnic minority background by 2021.

DEANNA OPPENHEIMER, Non-executive Chair

1 June 2021