Growing our business responsibly
We understand the impact of our actions on the lives and welfare of our employees and communities. Complying with laws and regulations and meeting high ethical standards are the foundations on which we work. Our major focus this year has been on managing the impact of Covid-19 on our employees and customers – keeping people safe and healthy while maintaining access to critical financial services.
An engaged and productive workforce is the lifeblood of our business and we spent time listening to our people, supporting their wellbeing, exploring external perspectives and reaffirming our commitment to building an agile and inclusive business. We launched a range of initiatives to help meet the growing social needs arising from the Covid-19 disruption.
Areas of focus:
- How we supporting our people during Covid-19 including employee engagement focused on timely and clear communication throughout the pandemic and listening carefully to our employees’ views.
- We established a Global Diversity and Inclusion Council tasked with defining and driving an ambitious agenda for D&I across the Group.
- Developing the workforce of the future by investing in our own people and the experts and leaders of tomorrow. We have three objectives that ensure people can access talent and development.
- Building a resilient and responsible supply chain
- We are fully committed to providing a safe and healthy working environment as we face a range of different risk profiles across our businesses, from higher-risk construction activities to office-based work.
Workplace culture in a post-2020 world
Employee expectations of company culture are changing and new challenges are emerging around how to maintain a sense of culture when the majority of employee interaction is moving online. The conversation on inclusion has evolved to be seen as a critical function of culture, and it is central to our core philosophical belief in inclusive capitalism.
Gender pay gap
In 2020, our median gender pay gap continued to narrow driven by improvements in our investment management and housebuilding businesses but offset by a widening in our retirement and insurance businesses. We are making progress but we know there is always more to be done. Like all companies, Legal & General can and must play a role in driving positive change.
As part of practising what we preach, we are committed to meeting the highest standards of business ethics, honesty, openness and accountability. We have a number of group wide policies that highlight our commitment to the specific standards people can expect from doing business with us.