Insurance industry bosses have been warned that employees judge them by their deeds, so what they do about ‘Handy Andy in accounts’ is just as important as any other measure they can take to drive diversity at their organisations.
Lorna Fitzsimmons, founder of consultancy The Pipeline, explained that leaders’ actions, including a zero tolerance approach, were vital in leading on diversity, inclusivity and making a safe and secure working environment in the sector.
Speaking at the Association of British Insurers (ABI) annual conference, Fitzsimmons particularly highlighted the lack of progress on women in senior leadership roles within the industry despite major initiatives.
Last year Women in Finance champion Amanda Blanc warned it could take 30 years to reach gender parity if current progress is maintained, with the organisation publishing a series of powerful recommendations to speed-up gender equality.
Zero tolerance approach from CEOs
Fitzsimmons told delegates that chief executives need to take ownership of their firm’s diversity strategies because a firm’s culture is created by behaviours and employees see what their chief executive is actually doing, not what they say, and therefore act accordingly.
She added there were a range of actions organisations needed to take.
These included ensuring there were role models in senior positions, having diversity targets, understanding why sponsorship of employees matters and providing the same feedback to women and ethnic minorities that people who do not fall into these categories benefit from.
But Fitzsimmons maintained there is one single factor that is integral to a CEO’s behaviours and that is zero tolerance.
“Because if we do not see action being taken in terms of Handy Andy in accounts, whoever it is, that is a serial sinner that you don’t think anybody knows about, stop kidding yourself,” Fitzsimmons said.
“The truth is that it is about what you do about the people who are not adhering to those values at quite a serious level.
“So what works is known. It has been achieved globally in some of the hardest industries in the world that are harder than yours. So the question is why are you not doing it?
“This is the tightest labour market in all of our economic histories operating in the UK market – 3.3 million less workers than before Brexit, a falling birth rate, higher retirement and you’ve got vacancies that you cannot fill.”
Fitzsimmons echoed LifeSearch chief executive Debbie Kennedy, who told Health & Protection that creating a more diverse protection industry was about fixing the room not women, with more allyship and support from men and leaders needed.