Barclays D&I: Fairness and Equal Opportunities Across the Globe
"Our Barclays D&I strategy stretches globally," says Mark McLane, Global Head of Diversity and Inclusion at Barclays. "We’re committed to treating colleagues of all backgrounds equally, and ensuring they can contribute fully to the bank. It aligns with our business goals, and we’ve embedded the strategy into our journey to become the ‘Go-To’ bank. What we do in D&I is absolutely integral to the Barclays Values."
The Barclays diversity strategy reaches from extensive, worldwide diversity networks, up through to a fully dedicated D&I team, an array of business diversity councils, and ultimately leads to the Chairman’s office. At the centre of the strategy is the presence of diversity metrics in Barclays Balanced Scorecard, the company’s overall performance measure. "It’s clear to everyone," adds McLane, "that creating a diverse and inclusive environment for all our colleagues and customers is squarely at the forefront of our vision."
Core elements of Barclays’ strategy are:
- Clear objectives to increase representation and decrease turnover of under-represented populations at senior levels, to maintain a positive climate of inclusion and engagement, and to increase external recognition as a diverse and inclusive organisation.
- A wide range of initiatives, including training for all employees, workplace and working practice adjustments for persons with disabilities, and identification of high potential women to support career development and retention.
- Expanded global agendas to include Multigenerational and Multicultural pillars.
- Deployment of an Unconscious Bias Leadership programme for all Managing Directors and Directors across the globe, which amounts to population of over 8,000 leaders.
- Strategic deliverables aligned to our Values and to our Transform priorities.
"We’re evolving and refining our D&I initiatives as the global environment changes," says McLane. "At the end of every day, we hope to look back and believe we’ve made Barclays a better place for every person who works here."
Smart Biz! Barclays women directors make “Women in Leadership” (WIL) index investment security happen
Companies with a good number of women in charge tend to perform well for investors. And now Barclays offers a financial product to let investors to play the “female leader” corner of the market.
The new investment instrument is part of a broad effort to offer “socially valuable” options to customers. “Increasingly, investors are looking for social value — to use their investments as a vote or as a way to make a statement,” says Barbara Byrne, a vice chairman in Barclays’ investment banking unit who is overseeing the WIL launch.
The senior, unsecured, unsubordinated debt securities (which are backed by the full faith and credit worthiness of Barclays Bank, the issuer) track a weighted index of 85 U.S.-based companies that are listed on the NYSE or NASDAQ, have market capitalizations of at least $250 million, and have a woman CEO or a board of directors that’s at least 25% female.
The idea for Barclay’s women-focused effort came about 18 months ago from two young women directors who noted studies showing that companies with gender-diverse leadership outperform those with less diversity.
Based on past performance, it may be a good investment. The Barclays WIL Total Return Index has outperformed the S&P 500 Total Return Index by 1.2% per year over the past five years.
(Edited content from article originally on Forbes.com)