Lloyd’s of London has announced a new program of measures to foster a safer and more inclusive working environment after the findings of a recent survey revealed widespread issues regarding sexual harassment and employee wellbeing in the marketplace.
The culture survey, which was commissioned by Lloyd’s in the wake of public sexual harassment claims, found that 8% of respondents had witnessed sexual harassment over the previous 12 months.
However, just 45% said they would feel comfortable raising a concern, while 22% said they had seen people in their organisation turn a blind eye to inappropriate behaviour.
Across the board, women also reported a more negative experience than men in the Lloyd’s market, while one in five respondents did not believe people had equal opportunities regardless of gender.
Additional concerns were raised as 40% of survey respondents felt under excessive pressure to perform at work, whilst 24% had observed excessive consumption of alcohol during the past 12 months.
In light of the “complex” results of the survey, Lloyd’s plans to introduce a new program of measures to build on the five-point action plan it put in place earlier this year.
Key measures include “setting clear and measurable targets for improving the representation of women at senior levels,” and implementing stronger standards of business conduct requiring people and organisations in the market to “act with integrity, be respectful and always speak up.”
A culture dashboard will also be introduced to monitor progress at Lloyd’s against key indicators, and an independent advisory board will be appointed to “provide challenge” and “ensure that Lloyd’s is taking the right actions.”
Lloyd’s added that a range of further measures will be rolled out through 2019 and 2020 to address the key themes uncovered by the survey, including promotional campaigns aimed at increasing awareness of mental health and wellbeing.
“I am determined that we create a working environment at Lloyd’s where everyone feels safe, valued and respected,” said Lloyd’s Chief Executive Officer (CEO) John Neal.
“Cultural change takes time, but we have to accelerate progress and the measures announced today are intended to do just that,” he explained.
“The vast majority of people working at Lloyd’s are as committed as I am to taking the action we need to drive measurable results. Creating an inclusive marketplace is a priority for Lloyd’s and crucial to our long-term success.”