The business benefits of diversity
A Lloyds TSB case study

Below is a list of Business Case Studies case studies organised alphabetically by company. To view more companies, please choose a letter from the list below.

Page 4: Lloyds TSB´s sexual orientation strategy

Lloyds TSB takes diversity very seriously.

The Group's Deputy Group Chief Executive has overall responsibility for its diversity strategy. This includes seven main strands: gender, race and religion or belief, disability, sexual orientation, age and work-life balance. Lloyds TSB believes diversity is important because employing and managing diverse people makes it more well-rounded and balanced. It enables Lloyds TSB to be more adaptable to new situations.

Sexual orientation strategy

Sexual orientation is the most recent of these diversity strands. Lloyds TSB launched its sexual orientation strategy in 2005. This was done after research to help the organisation understand attitudes within Lloyds TSB towards sexual orientation at work. A survey was conducted with over 850 staff. The research revealed that lesbian, gay and bisexual (LGB) staff can sometimes feel isolated. This occurs where they are unable to see other people like themselves, either within their immediate work environment or in management positions, who can act as role models.

Lloyds TSB is committed to making sure that employees who are LGB can be comfortable being open about their sexual orientation at work. This is important because research shows that people are likely to perform better when they can be themselves.

How Lloyds TSB implements the strategy

Following the research, the Group's Equality & Diversity department set up a working group of LGB staff, who have helped to develop the company's sexual orientation strategy. This has led to a programme of activities to provide the right support and culture so LGB staff can reach their full potential.

The strategy includes a very active network for LGB staff, called Spectrum. The network is run by volunteers and provides LGB staff with the opportunity to:

  • meet and talk with others from similar backgrounds/circumstances
  • share experiences and issues in a supportive environment
  • focus on their own development
  • find role models and mentors (from similar backgrounds to themselves) who may not always be visible in the workplace.

Mentoring is an important part of Lloyds TSB's strategy for developing employees in the workplace. It involves an employee being teamed up with a more experienced employee. This practice is widely used in businesses. The 'mentor' acts as a role model, guide and supporter for the 'mentee'. The 'mentee' is given advice and help about work-related issues and wider concerns by the 'mentor'. In addition to Spectrum, Lloyds TSB has put in place a number of other measures to support LGB staff, including a mentoring database. This allows staff to search for a mentor who is of the same sexual orientation or who has an interest in LGB issues.

Lloyds TSB | The business benefits of diversity