LGIM outlines how it partnered with The Careers Office to diversify its workforce and support its organisational commitments to diversity and inclusion.
Legal and General Investment Management Limited (LGIM) is the global asset management business within the Legal and General Group. Being a firm that has inclusion and diversity at the core of it’s culture continues to be a top priority for the business and reflects the role of LGIM as a leading asset manager within the wider financial services sector. Within our Group we have teams making investment decisions that have a positive societal impact, solving complex client challenges by embracing diverse perspectives, delivering great service to vulnerable customers, working purposefully and collaboratively to make great things happen. We recognise that inclusion is made up of many different everyday actions to help everyone grow, develop and reach their full potential.
LGIM believes that it is most successful when it reflects its clients and customers, as well as the wider society and is able to fully draw on people who fully reflect the talent available in the market. We retain our focus on improving both workforce diversity and the level of inclusion in our culture. In practice this means that we are continuing our focus on proactive recruitment from a more representative cross-section of society. We believe that our collaboration with the Careers Office enables us to further this goal by:
- creating more career opportunities for those from under-represented backgrounds.
- building a more inclusive culture through our managers and by holding each other to account.
- supporting equitable development through mentoring and talent sponsorship.
We recognise there are barriers that need lifting, and we want to address stereotypes that may have discouraged young people from disadvantaged backgrounds entering the industry, and to ensure we are providing access and information to facilitate a wider knowledge of the wide range of roles available within a firm in our industry.
Embed Equality, Diversity & Inclusion (ED&I) into your careers and organisational strategy
LGIM recognised that to attract individuals from less affluent backgrounds into the workforce, it was important that Equality, Diversity & Inclusion (ED&I) was embedded into its wider organisational agenda. Acknowledging adverse employment transitions through staff networks and ensuring cross-group representation (from entry-level staff to senior leaders) has enabled LGIM to work towards creating a socially inclusive working environment that is attractive to student cohorts and prospective future leaders. In June 2023, LGIM was rated as Highly Commended in respect of Championing Social Mobility at the Financial Times’s Diversity in Finance Awards - celebrating and recognising the success of the work and support LGIM is providing in this area.
Capitalise on external expertise and networks
LGIM works with external providers to support it in its mission to be an employer where talent is promoted regardless of individual background. To this end, LGIM has worked with the Careers Office to operate an outreach strategy to engage young people. LGIM found that having an internal organisational group, their Socio-Economic Mobility (SEM) Network, dedicated to the workstream supported its dialogue with the Careers Office and ensured it had the resource and capability to support the project internally. LGIM’s SEM network exists to raise awareness of issues surrounding social mobility and to ensure that those from less affluent backgrounds can have successful careers within its organisation- making the firm a more welcoming place for talent regardless of background.
Earlier this year, LGIM hosted an Insight Day for over 20 students across eight educational providers at its Headquarters in London and is on track to host several more over the next few months with the Careers Office’s support.
Develop targeted careers advice that explains how young people can progress onto a role in your business and wider industry
Many students are unclear of what qualifications they may need to enter different occupations and LGIM realised this could be particularly true for the financial services industry, where there many wide-ranging roles and professions from investment expertise to procurement and from digital skills to law. Embedding professional skills sessions into insight days, such as guidance on university application and personal statement writing, helped LGIM to demystify the higher education process for students and signpost the different training pathways and entry routes available to them.
Promoting diversity in the workplace and advancing socio-economic mobility is central to LGIM. That’s why partnering with organisations such as the Careers Office is so important to us. It provides the opportunity for our colleagues to share their experiences with ambitious students from a diverse range of backgrounds. We look forward to continuing our partnership with the Careers Office.— Michael Harrats and Monique Porter, Co-chairs of LGIM’s SEM group
The events are an invaluable opportunity for students to meet with employers and gain an insight into their chosen careers which they wouldn't otherwise have. Our students came back inspired and focused on their career goals. Others made connections and are hoping to arrange work experience as a result of these meetings. The location of events is brilliant, for many this is their first experience in a business environment and they will hopefully feel more confident in these environments in the future. I highly recommend the Careers Day and I look forward to sending more students next year— Mrs K Jones, Head of Year 13, Simon Balle School, Hertford
Goffs Academy's experience
Past performance is not a guide to future performance. For professional investors only. The value of investments and the income from them can go down as well as up and you may not get back the amount invested. The details contained here are for information purposes only and do not constitute investment advice or a recommendation or offer to buy or sell any security. The information above is provided on a general basis and does not take into account any individual investor’s circumstances. Any views expressed are those of LGIM as at the date of publication. Not for distribution to any person resident in any jurisdiction where such distribution would be contrary to local law or regulation. This financial promotion is issued by Legal & General Investment Management Ltd. Registered in England and Wales No. 02091894. Registered office: One Coleman Street, London EC2R 5AA. Authorised and regulated by the Financial Conduct Authority.
