Broadway is truly an equal opportunities employer. There! I’ve said it!
After decades in which it appeared that business was making strides towards eradicating discrimination based on someone’s gender, ethnicity or age, that might not necessarily seem a very radical turn of phrase.
However, we find ourselves at a time when companies in all sectors appear sensitive at the very least about even making reference to diversity.
It is a development which has been tracked by media reports suggesting that some of the fully-deserved but hard-won gains might even be rolled back.
That is why I firmly believe that it is vital to recommit to the concept of equality through our words and our actions.
I have not only been prompted by the prevailing negative tone in many branches of international media.
My interest has been piqued by recent research showing that fewer than one-fifth of all regulated financial advisers are female.
That almost coincided with a briefing paper published by the House of Commons’ Library in the last week or so which seemed to indicate that the employment situation has changed little over the years.
The most common jobs held by women tend to be in health, social work, education and retail, while manufacturing, professional, scientific and technical services are dominated by men.
I should say that the insurance industry is doing its best to correct that situation.
Data released by the Office for National Statistics (ONS) only last month demonstrates that 611,000 women currently hold full- or part-time positions in the financial services and insurance industries.
In 2022, the British Insurance Brokers’ Association (BIBA) became a signatory to the Treasury’s Women in Finance Charter, the aim of which is “the progression of women into senior roles in the financial services sector“.
Both the Association of British Insurers (ABI) and the Chartered Insurance Institute (CII) also support the venture.
This year also marks 10 years since BIBA launched its own similar initiative – the Gender Inclusion Network – to encourage both women and men working in insurance who “want to take positive action to improve the gender balance“.
As the Treasury observed when launching its Charrter, “a balanced workforce is good for business – it is good for customers, for profitability and workplace culture”.
It is something which I and my colleagues at Broadway can certainly attest to.
Four members of our firm’s executive team are female and women make up exactly half of all our employees at all levels.
Although when we launched in 2020, we regarded such a situation as ideal, it has happened more by merit than any tightly-controlled design.
Just as Broadway was established to provide the services most required by clients and in a way which was more to their benefit than the traditional insurance broking model, our recruitment has been based on talent rather than blind adherence to quotas or box-ticking.
In focusing on bringing together capable, experienced individuals in an environment where they can thrive together, we have delivered the right climate for growth.
Broadway has not just become an advisor of choice for an increasing number business and private clients nationwide with an array of risk management needs but something of a destination employer for many of our broking peers who realise that we have something very special.
Part of that is down our absolute belief in an industry without barriers.
Regardless of external noise to the contrary, I am convinced that we should not be content simply with maintaining the status quo but should redouble our energies to make real progress on diversity now and for the future.
Written by Daniel Lloyd-John, Chief Executive, Broadway Insurance Brokers