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Survey Of Lloyd's Of London Discloses Deep Sexual Harassment Culture


09/25/2019


Survey Of Lloyd's Of London Discloses Deep Sexual Harassment Culture
Following one in every ten workers of Lloyd's of London reported that they were witness to incidents to sexual harassment, the institution has promised to change the male dominated culture at the company.
 
Almost 8 per cent of the employees of the institution said that they had been witness to harassment in the past 12 months in an independent survey that was commissioned by the insurance market. The survey was conducted after a series of complaints about bullying and sexism surfaced earlier this year at the London City institution.
 
The survey showed the "urgency" of the problems at the institution, the chief of the Lloyd's of London John Neal said. "We must address the negative actions and behaviors that have for too long gone unspoken and with impunity," he said.
 
Following the publication of a very critical report published by the Bloomberg Businessweek in March this year, the research based survey was commissioned by the City marketplace where brokers and insurers get together to do business.
 
The survey revealed that inappropriate comments, as well as physical attacks by male colleagues were faced by workers there. There were also additional complaints filed earlier about boorish behavior and excessive alcohol consumption even during working hours.
 
The Bloomberg revelations had been "devastating", adding: "We thought there were signs that it was a reality," Neal has said in a television interview last week.
 
All of the 45,000 people who worked at the marketplace, and not just the 800 odd staff there,  were invited to join and participate in the research based survey that was carried about by the Banking Standards Board. Ultimately about 6,000 people participated.
 
The survey further found that 20 per cent of the respondents said that they did not believe that they had equal opportunities at Lloyd's, irrespective of gender.
 
On the other hand, about 25 per cent of the respondents opined that observations of excessive consumption of alcohol at the marketplace had been observed by them in the last 12 months. 22 per cent of the participants of the survey claimed to have seen people in the organisation "turn a blind eye" towards incidents of inappropriate behavior.
 
A gender balance plan with "measurable and achievable targets" will be launched by Lloyd's in response to the survey findings, the organization said. It will also set up an advisory group to drive "cultural transformation" and formulate and publish new standards of business conduct.
 
The organization had earlier also attempted to enhance reporting of harassment and impose punishment for those found guilty.
 
In the United Kingdom, the insurance industry is male dominated. Dame Inga Beale, the previous chief of Lloyd's of London was the only women to lead the organization in its 331-year history.
 
Under her leadership, drinking during office hours was completely banned for its direct workers. However, that move faced pushback from people at Lloyd's, according to Bloomberg's report in March.
 
(Source:www.bbc.com)