Diversity

Diversity is central to our brand.

We believe the world is a rich and diverse place full of interesting cultures and people, who should be treated with respect and from whom there is a great deal to learn.

We are the World's local bank.

We know that employing and managing diverse people gives us a more rounded and balanced organisation and makes us more adaptable to new situations. This is not simply about gender, ethnicity, disability or age: it is about open mindedness, embracing non-conformity and creating balanced teams. Respect for individuals of all types will inspire loyalty in both employees and customers, which will have a direct line of sight to the achievement of business goals.

We are a global organisation that understands our local populations and values the diversity of the markets that we operate in. We need to reach out to all parts of employment and customer markets, existing and potential, for maximum productivity and value. It is by going beyond matters of compliance that valuing and managing diversity becomes a competitive differentiator, enabling us to leverage the opportunities that this can offer.

This strategy is based on the premise that the most important competitive differentiators are the quality of individual service we provide to our customers and the way we treat our employees. It connects with Managing for Growth, the brand, Clear Water and the people strategy.

Definition: What is diversity?

Diversity is a source of opportunity, whether in employment or customer markets. Appreciation of the rich mosaic of difference within the workforce fuels group dynamics and helps create an environment where teams can perform to their full potential. A generalised market approach will not reach the many pockets of value to be found in diverse groups of customers. Competitive edge can be gained from the variety present in our workforce and customer base, and specific attention to market variation, in, for example:

• age, (length of) experience

• gender, sexuality

• race, religion, culture, nationality

• physical ability and appearance

• outside, non-employment, activity and interests

• personality

• educational background

• regional or other accents

Everyone in the bank delivers the brand - it's the way we respond to and treat customers, both internal and external

To deliver a truly world class brand we need to get better at living our values and behaviour at all levels of the bank;

• Understanding the importance of the each individual's contribution to business success

• Maximising their potential and inspiring them

• Creating a framework of values and behaviours that act as guidance

• Including these ideas within the basic principles that define the organisation.

So what does a diverse organisation look like?

A diverse organisation is one that invites, embraces and manages difference in the changing workforce to gain the best from its people and to provide the best service to its customers. It encourages the breaking down of barriers of the past to look at things in a new way, to find effective business and customer solutions. In such organisations diversity is regarded as a competitive differentiator, in both employment and customer markets.

Characteristics of such an organisation include:

• Recognition of diversity as a business issue. Every level of the organisation holds responsibility not just HR or Marketing

• The existence of a widely accepted and practised set of values that ensure the respect and dignity of all

• An environment where the insights of diverse groups are sought and welcomed; where people are not alienated or sidelined because they don't 'fit' into a set expectation

• Innovation and creativity are rewarded and recognised

• A climate where people feel that their background and lifestyle does not affect perceptions of them as a professional, or affect their opportunities for development

• Flexible working practices are made available, as there is an appreciation that not everyone can and will work the same hours and in the same way. This removes disadvantage and discrimination to participation in work

• The diverse workforce is visible at every level of the organisation and in every business area.

Bank and Employer of Choice

• A respect for diversity helps us attract, understand and retain customers. The profile and demands of the customer markets are changing. To maintain and improve our position in these markets we must understand their diversity

• A commitment to diversity helps attract and retain talented staff. We want the best people to help meet our business priorities and we want those already working for us to realise their full potential. Focus on diversity helps us discover potential employees and untapped skills

• Diversity demonstrates that we are a socially responsible organisation. Image and brand value is enhanced when we are seen to treat employees, customers, communities and shareholders the way they want to be treated. Reputation and image is a valuable asset, and strong stakeholder relations will have a positive impact on bottom line results

• Embracing diversity puts us in an excellent position to face the future with confidence. It helps develop decision-makers that see opportunities, have the courage to innovate and who are able to lead change. The ability to think differently and openly, to see beyond established parameters, becomes part of our competitive advantage

• Commitment to diversity needs to be demonstrated by leadership in words and in actions so that people throughout the organisation can learn by example and understand that this is an integral part of good management practice, not an optional extra.

Objectives

• Inspire both customers and employees to understand, respect and learn from others to achieve greater personal and business success - to live and deliver our brand

• Embed diversity into the values and practices of the organisation

• Meet the obligations of the law and regulatory bodies

• Maximise and develop existing pools of talent and skills within HSBC that are currently under utilised and thereby to create new business opportunities

• Ensure access in recruitment to diverse groups of potential employees

• Ensure access in recruitment to diverse groups of potential customers

• Enhance image as Employer of Choice and Bank of Choice

• Ensure that all aspects of our proposition and practices are fair and contain no structural bias.

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