CII asks chartered firms to prove diversity credentials

gender symbolThe Chartered Insurance Institute is asking firms to provide evidence of their diversity policies and adherence to them, Money Marketing understands.

A firm tells Money Marketing that they were recently asked to supply their diversity and equality policy while renewing their corporate chartered status.

Information on these policies is not normally required as part of the documentation needed for the renewal, however.

The firm has called for access to the CII’s own “policy on meritocracy” in response.

Speaking to Money Marketing, the body says the information is “important” but confirms it is not a formal part of its criteria for chartered status as of yet.

A CII spokeswoman says: “We started asking firms for sight of their diversity and inclusions policy last year and the vast majority have supplied it without question, and the small minority who needed help we have provided them guidance on what a D&I policy could contain.”

Pimfa: Diversity is vital to attracting talent

Retrieving the information from firms will help improve good practice within the industry, she adds.

“This demonstrates that chartered firms are already aware of the importance of good practice around D&I, and adding it to our criteria will help embed this going forwards.”

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Comments

There are 16 comments at the moment, we would love to hear your opinion too.

  1. We were first asked to submit our Equal Opportunities and Diversity Policy Statement by the CII when we renewed our Corporate Chartered status in 2016.

    I don’t think this is something new.

  2. “The firm has called for access to the CII’s own “policy on meritocracy” in response.”

    Wouldn’t it have been quicker to fill in the form to say “We’re all white and male”?

    There’s nothing wrong with that, you know.

  3. I must admit, I fail to understand what “diversity” has to do with the professional standards and status of a company.

    The only thing that should matter, is the standard and professionalism of an adviser and the company.

    If you genuinely want to remove discrimination, then institutionally discriminating in favour of anyone, means you are discriminating against others. Which by definition means you are perpetuating discrimination.

  4. This really is getting beyond a joke.

    When I put the point to Helena Morrissey at the recent MM Interactive the response was a fudge. We know the percentage of women employed, but we don’t know the percentage of applicants to any given vacancy. The response was – “Ah, well we need to encourage more women to apply”.
    While I fully concur with the principle that women should get the same pay for the same job there are other points that seem to be conveniently overlooked by the proponents of diversity:

    1. Not all women want to have a career.
    2. Our industry can be too onerous. I have heard comments of the advice business being a 9 to 5 job. Perhaps so in the big firms, but most firms in this profession are small and in a small firm 50 hours isn’t that unusual. (Personally I worked more than 60 hours)
    3. Large firms can afford to take on women who then go on to take maternity leave. (One does wonder that if they can manage without her meanwhile, why they needed her in the first place). In a small firm maternity leave can be ruinous. A temporary has to be taken on to fill the gap. In which case isn’t it a bit unfair for the temporary to be let go after fulfilling the role satisfactorily?
    4. For many women a life in financial services is the last thing they would contemplate – I have this on direct experience. This is not only a matter of reputational damage, but also quite simply because many find dealing with money stultifyingly boring.
    So please let’s have some realism in this diversity debate and it really isn’t a case of one rule fitting all cases.

      • Why? Because I point out reality and just don’t roll over?

        • Its comments like the ones below that show what an idiot you really are

          Our industry can be too onerous.

          For many women a life in financial services is the last thing they would contemplate – I have this on direct experience.

          but also quite simply because many find dealing with money stultifyingly boring.

          • Ah! I see you are the arbiter of what is right and what is fact. (And none too p9litely either).

            All three of the statements you quote are from direct quotes and from personal experience on numerous occasions. How on earth you presume to rubbish that merely shows your inexperience and ignorance. But then when ignorance is bliss, it is in your case a folly to be wise.

            If you look at some of the other posts you may actually see that these findings are not so unique as you forcefully maintain. It would appear that you, not I is the one who is out of touch.

  5. Neil Liversidge 8th April 2019 at 11:31 am

    Yet another example of the self-important public school prefect mentality that pervades the CII. Fill in a form and get your ‘Diversity Blue Peter Badge’. Historically professions such as law and medicine employed tactics such as the use of Latin to keep out the lower classes. The equivalent these days is employed by the PC Brigade which increasingly wants to dictate what we do, the language we use and ultimately how we think. They reinforce this by inventing new ‘sins’ to act as tripwires, made-up-offences such as ‘misgendering’. If you can use all the right words you’re in the club, never mind whether you can actually do the job or not. Whoever at the CII thought this up, they need to set aside some time to watch a few Jordan Petersen videos on YouTube.

    • Neil Liversidge 8th April 2019 at 11:45 am

      Oh, and by the way, my staff is exclusively female. I’m the token bloke. Happy now, CII?

      • No, they won’t be Neil; for the simple reason that as you are the boss and all the females are paid less than you, your gender paygap will be absolutely huge!!!

    • Simple solution here chaps:
      We all now identify as being “Non-binary”.

      My wife is a fine example of a Woman who does not want a career. Student of the year during her Advanced Apprenticeship in Food Manufacture (that she aced) and she could earn mega bucks if she wanted with lots of opportunities close by, but no! she’d rather be my office assistant and see the children more, which is completely understandable and absolutely nothing to do with the local food manufacturers.

  6. Sigh. If you pursue agendas like these you will never get ‘equality’ or ‘diversity’ and you will certainly not get Liberty. If you pursue Liberty you will get more equality and diversity. Essentially this is the age old issue of A + B telling C what do to do for D. It’s a crock.

  7. In truth, Chartered Status is not fit for purpose. The better BS8577 standard includes this and much else and should be the gold objective.
    As I get older, I do find in life that the absurd ways of dealing with a serious misjustice are always justified by the seriousness of what they are trying to prevent – the awfulness of the outcome justifies whatever method is employed to tackle it.

  8. I do agree in principle with equality but I think there is something of a law of unitended consequences.

    If you have a female adviser who goes on maternity leave, you cannot simply go down to the job centre, or even a recruitment agency and get a temp to replace her.

    Whoever takes her place needs a diploma and a currept SPS and then needs to be registered with the FCA as allocated to your firm, with all the due diligence that requires.

    By the time you have got the temp up and running, I suspect that Mum would be back to work.

  9. While women are working long and often unsociable hours for very low wages in sectors such as care, catering and cleaning I don’t think we have to worry about advice jobs being too “onerous”for them.

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