×

Diversity targets set for the first time by TSB

For the first time TSB has officially set goals for the representation of black, Asian and minority ethnic groups in the organisation. The goals include LGBT, female and disabled staff members.

One of the goals is to increase the representation of these groups in the infrastructure of the bank. They plan to have an increase in the representation of BAME from 1% to 14% by 2025 and an increase from black ethnic groups from 1.5% to 3% in the same year.

BAME representation at senior management positions will increase from 7% to 10%.

TSB stated that although they were already representative of wider society for disabled and LGBT staff (20% and 7% respectively) they would seek to ensure the level of representation remained above national levels which are 19% and 3% respectively.

Figures show that 40% of TSB senior leaders are female, which is above the average 33% senior leader representation in the financial services sector. TSB is committed to maintaining and even improving on this proportion.

Debbie Crosbie, chief executive for TSB stated that it is crucial for the company to become truly diverse and inclusive in business in order to deliver for their customers. It is the right thing to do.

The new targets cover all aspects of diversity and introducing them will create an inclusive environment where all staff can thrive.

To reach and maintain these goals, TSB plans to ‘attract, develop and retain diverse groups.

They will do this by:

  • Introducing a manager programme which will create inclusive leaders. All managers will be trained in inclusive decision making and mental health awareness.
  • Running reverse mentoring programmes. This will introduce diverse ideas and perspectives to the executive committee.
  • Keeping instated the workplace adjustment passports. These passports support staff with disabilities and those who need support during recovery from illness.
  • Joining with mentoring and coaching firm Moving Ahead. Moving Ahead supports a culture of mentoring and sponsorship for women employees at TSB.

In addition to these goals TSB has signed up to the CBI’s Change the Race Ratio programme which supports increasing the representation of racial and ethnic groups at senior management levels.

CBI president Lord Bilimoria, who is also the chair of Change the Race Ratio commented that he was delighted to hear TSB had signed up for the campaign and is committed to increasing ethnic and racial participation particularly in their senior management positions.

TSB is one of Britain’s most well-known banks and for them to take such a step of vital importance is something that both staff and customers can rightly be proud of.

Lord Bilimoria said that every business has a key role to play in society. This is not simply in delivering jobs and growth, but to make a lasting change in the workplace and society.

It is not enough for businesses to stand on the sides and ask for better representation. Companies need to be ready to be held accountable for creating diverse and inclusive workplaces across the country.

1

Go Back to Previous Page