WiC Conference Recap: Flexible policies key to fostering inclusion in financial services

Now, some form of WFH offering, whether this is under a hybrid model or on a full-time basis, has become a prerequisite for many members of staff looking to move to a new company. 

Indeed, the latest research suggests a form of hybrid working makes employees happier, healthier and more productive – while three-quarters of those who work flexibly found they felt less burnout than they spent their whole week in the office.  

Like many others, this flexibility is being employed by Lloyds Banking Group. Explaining her business’s policy at the recent Women in Credit Conference, the firm’s head of credit, customer relationships and insight Rachel Fairhurst said: “We ask office-based colleagues to be in 40% of the time, but this is set over the course of a month.  

“This means there’s flexibility there for people if they have, for example, caring responsibilities, they can choose the days they want to be in the office.  

“I’ve also benefitted from something called Flexible Summer, where you can work from anywhere over the school holidays, and there’s no requirement to be in the office.” She went on to explain that this was a beneficial scheme as it allowed her to spend more time with her kids over the summer months.  

All this is part of a wider “Flexibility Works” scheme. Several policies sit under this framework, including flexible holidays.  

Explaining this policy, Fairhurst added: “It means people who don’t want to have those days off can work those days and then take them back at another point throughout the year.” 

In-workplace support for carers is vital 
Employee support does, however, go above and beyond merely just flexibility working – with being acutely more important for those who have unique challenges outside of the workplace, such as carers. One such carer is Craig Downing, who is the equality and inclusion manager at the Co-Operative Bank. 

Also speaking at this year’s Women in Credit Conference, he first posited that, while conventional wisdom suggests that around one in nine people are working carers, this more likely be at the around one in four or one in five mark – simply because most people won’t realise they are a carer.  

This, therefore, requires an employer to have good policies, processes and practices in place. 

He added: “Wherever I’ve worked, I’ve introduced a working carers forum so people have a safe space to come and talk. There’s no agenda, no criteria, no note-taking – it’s just a safe space for people to come and be able to share experiences.  

“And sometimes you just need that little bit of respite, and somewhere where you know you’re not doing this on your own as everybody else is helping with those situations as well because it’s difficult and challenging.” 

At an organisational level, it’s incredibly beneficial to have one which embraces law changes like paid carers leave, as well as have robust policies in place such as investing in something like carers passport – which means if someone moves teams, an employee doesn’t have to keep repeating the fact they are a carer to people.  

He went on to say: “It’s about being able to say, this is me, this is my situation. And those situations can and do change – you’re not a carer forever.  

“And it’s not always doom and gloom when you think of caring, sometimes it’s a short-term or temporary piece – but it’s really important to have that support behind you and for the business to be aware of the impact this has on your workforce as well.” 

Education is vital in fostering an inclusive environment 
All this, of course, folds into the key role education plays in fostering an inclusive environment at a business. One issue highlighted during not just in the session but throughout the day was menopause awareness.  

This is something Fairhurst in particular could speak to as her company has done through its menopause hub Let’s Talk, which offers drop-in sessions – which create a safe space to discuss this topic.  

It was not, however, a topic discussed in previous roles. She explained: “I was struggling day-to-day with symptoms such as anxiety, rage – the rage was very real – brain fog, feeling cold, fatigue, tinnitus and earache, throbbing teeth, heart palpitations, and then the thing that pushed me to getting real help was having vertigo for the first time.  

“And I felt like everything was being treated individually and I wanted some time off to go to a specialist clinic. And I was really nervous about broaching this with my manager, it was a start-up and my manager was a 30-year-old man with two small children, so I wasn’t sure how he was going to react to the conversation.  

But actually, it took a massive weight off my shoulders when I broached it with him because I explained to him how I was feeling, how I was struggling day-to-day and it’s a small thing he said ‘book it in as sick, don’t use any of your holiday, go to the clinic – if you don’t feel like working afterwards don’t come back to work and finish for the day.  

“‘If you need anything, do let me know – I’d rather you at 100% for 80% or 70% of the time than all of you at 60%’. And actually, just being able to talk about it and break that taboo for the first time meant I was more able to talk about it with other people.” 

The Women in Credit Conference also saw the launch of our month-long Diversity, Equity and Inclusion in Credit Survey. Developed by our Women in Credit Advisory Board – made up of leading figures from the Credit industry – its goal is to explore the experiences and challenges faced by professionals in the credit and financial services sectors. Your insights on gender equality, pay balance, and career progression will help identify key areas for improvement and drive positive change across the industry. To get involved, click here: www.surveymonkey.com/r/DMK68R7