Diversity, equity, and inclusivity (DEI) in an organization help bring unique prospects and ideas to create more innovative, productive, and resilient enterprises. DEI contributes to equality of opportunity and treatment in the workplace at various stages of the employment relationship, including recruitment, retention, promotion, remuneration, and access to training and skills development.
Over the past three decades, the gender gap in organizations has reduced, attributed to labour mobility worldwide. There has been an increasing global awareness that all workers have a right to a dignified and respectful workplace irrespective of their sexual orientation and ethnicity, which helps to promote an open and inclusive workplace. According to International Labour Organization (ILO), women’s employment declined by 5% globally in 2020 compared with around 4% for men due to disruption by COVID-19.
Banks are reporting diversity and inclusivity to ensure a more equitable and inclusive workplace for all genders and backgrounds. A diverse workforce benefits companies and banks by attracting a new customer base as people want to do business with institutions that share their values which benefits the companies as well as customers in the long run.
Societe Generale, Lloyds, Credit Agricole, BNP Paribas, and HSBC are major banks in Europe with a significant percentage of women representation in their senior management in 2021.
Societe Generale is a provider of banking and financial services. In 2021, Societe Generale had the highest percentage of women participation in its senior management globally. The company reported 43% women participation in its senior management, which remain unchanged over 2020. The company has set a goal to have at least 30% women on the strategic committee, the executive committee, and in key positions of the Group.
Lloyds (Lloyds Banking Group) is a provider of a wide range of banking and other financial services primarily in the UK. In 2021, Lloyds reported 37.7% women participation in its senior management which increased by 0.7 percentage points over 2020. By 2025, the company aims to increase a minimum of 3% of Black representation and 50% of women representation in senior roles.
Credit Agricole is a provider of banking and related financial services. In 2021, the representation of women in the company at the senior management level was 37.5%, an increase of 14 percentage points over 2020.
In 2021, BNP Paribas and HSBC reported 32% and 31.7% women participation in their senior management, respectively.
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