Diversity, equity and inclusion

Our employees are the key to our success as a regulator. We aim to promote a culture that enables people to speak openly about what has and hasn’t gone well so we can:

• build capability
• enable our people to act decisively 
• continuously improve how we operate

We aim to foster a diverse and inclusive workplace environment. One that’s free from discrimination and bias, celebrates difference, and supports colleagues to be their authentic selves at work.

We believe this empowers our people to fulfil their potential and results in better decision making in the public interest.

Our DEI programme

In 2022, we used an evidence-based approach to conduct a major review of our internal DEI work. Following this review, we launched a new internal DEI programme that will run from 2023 to 2026.

The objectives of our DEI programme are to:

• deal with areas of under-representation
• make adjustments to deal with imbalances and deliver fair and equitable outcomes for our people
• foster an inclusive work environment
• establish a strong accountability framework for progress against our DEI outcomes

Our priorities and outcomes

We identified 4 priorities where we need to take action to have the greatest impact. Each priority has associated outcomes describing where we want to be at the end of the 3-year period, including areas of success and progress measurements.

• Diversity – we promote diversity of thought, and we reflect the diverse lived experiences of the communities in which we work and the consumers we protect.
• Equity − we acknowledge that we don’t all start from the same place and that we need to make adjustments to address imbalances and deliver fair and equitable outcomes for our people.
• Inclusion − we have an inclusive culture where our people experience psychological safety and feel like they belong.
• Personal leadership and accountability − we are all accountable for delivering and embedding our DEI programme and our Public Sector Equality Duty (PSED) obligations.

Working with our diversity networks, DEI divisional delivery groups and other key stakeholders, we've developed 12 targeted interventions to help us progress against our DEI priorities. These include:

• enhancing our DEI data reporting to inform action
• the development of progression programmes to support minority ethnic and female representation
• putting in place provisions to support the progression of, and improve the experiences of, colleagues with physical or mental-health conditions and disabilities

Governance and delivery

We established a DEI programme board to drive change. The board is made up of leaders from across the FCA and DEI network group sponsors.

Each representative is supported by DEI delivery groups, who are responsible for implementing the programme at a divisional level.

Our work and achievements in DEI

Our network groups

Our commitment to DEI doesn’t just come from the top. All our people shape it.

In developing our DEI programme, we worked closely with our DEI network groups, who play a significant role in making our organisation more inclusive.

Our networks cover a range of diversity considerations including:

• physical and mental health 
• LGBT+
• gender
• race and ethnicity
• nationality
• faith
• social mobility
• carers and parents
• age

They provide a space for peer-to-peer connection, and support those with shared lived experiences and identities. They also raise awareness of the issues and experiences that affect our different demographics.

Our networks are increasingly focused on intersectionality as we recognise how different characteristics, like race, sex, gender, sexuality, class, and ability, can overlap to create unique experiences of discrimination, disadvantage or opportunity.

Sponsorship programme

In 2019, we launched our Race and Ethnicity Sponsorship Programme. The programme aims to:

• tackle the under-representation of minority colleagues in our leadership pipeline
• support the progression of minority ethnic colleagues to manager grade and above

The programme helps participants build and enhance their leadership skills, and secures development opportunities to raise their profile across the organisation.

Recruitment and resourcing

Through our DEI resourcing work, we aim to create a level playing field for talented people from diverse backgrounds. We do this by removing barriers, challenging and supporting the decisions hiring managers make, and using data insights to inform action and drive better outcomes.

We commissioned an objective inclusivity audit, which reviewed all the elements of our recruitment process against all protected characteristics, and supported the creation of a prioritised action plan in relation to DEI.

Our early careers attraction strategy continues to target under-represented groups. This has a particular focus on increasing participation from minority ethnic groups. We also introduced an additional partnership to target support for those from lower socio-economic backgrounds through their application process.

Supporting accessibility needs

We’ve improved accessibility by removing barriers to ensure nobody is excluded from taking an active part in working life.

This has been delivered via our Supporting Accessibility Needs (SAN) project, which has improved the processes associated with providing workplace adjustments.

Through the SAN project we:

• made changes to ensure that any future technology delivery (from large-scale programmes to regular system maintenance) considers accessibility from the design stage onwards
• set up a consultancy service for our accessibility experts to provide advice and guidance on the testing, compliance and legislative requirements for digital accessibility and assistive technology use

Benchmarks, awards and recognition 

In 2021, Employers for Carers awarded us the Carer Confident benchmark of Level 2 'Accomplished'. Our Scotland Office also achieved the equivalent 'Established' award from Carer Positive (Scotland). This benchmark encourages workplaces to promote an environment where carers are recognised, respected, and supported.

We ranked 33rd in the 2022 Social Mobility Employer Index, a benchmarking initiative operated by the Social Mobility Foundation. We’ve used the feedback we received from our submission to develop our DEI programme.

We ranked 83rd in Stonewall’s 2022 LGBT+ Workplace Equality Index. The Index is a benchmarking tool used by employers to assess their achievements and progress on LGBT+ equality in the workplace. It also includes their wider work in the community and on service provision.

We were also recognised with a Gold Award, which means our delivery is above a key threshold of LGBT+ inclusion work. In addition, our LGBT+ employee network, InsideOut, was named an LGBT+ employee network group of the year by Stonewall. This is in recognition of their work to support LGBT+ communities here and further afield.

We’ve moved to a 2-year cycle for entering the Social Mobility Employer Index and Stonewall’s Workplace Equality Index. This allows us the time to reflect on the feedback received and, where appropriate, develop meaningful solutions.

In 2022, we were named one of The Times top 50 places to work for women.