Diversity, Equity & Inclusion for our employees

Our aim is to diversify our workforce and ensure all our people feel respected and valued at the PRI.

All colleagues are responsible for creating an inclusive working culture, enabling differing viewpoints, knowledge and life experience to be heard throughout all our everyday interactions. A diverse workforce and equitable environment ensures that we embody the values we promote amongst our signatories and more widely across the global financial system.

Our Strategy

Key Successes

INCLUSIVE CULTURE

Enable all colleagues at the PRI to feel respected and valued, actively participating in building an inclusive culture

Key success

  • Strategy and objectives confirmed with the Executive Team and the Board
  • DEI training programme rolled out for all employees with 80% attendance rate to date
  • Launch of our DEI Working Group and other employee-led networks

STRONG GOVERNANCE

Build the structures, policies and processes to embed accountability for DEI across the organisation

Key success

  • Review of existing policy language and gaps analysis for other policies completed, with a roll out of new menopause policy and enhanced family leave policies
  • Redesign of our recruitment, performance review and promotions processes completed, integrating equity into our employee lifecycle

MEASURE OUR IMPACT

Develop a framework for DEI at the PRI so we can transparently benchmark our progress and take a data-driven approach

Key success

  • DEI data collection completed with an average of 88% completion across all fields
  • DEI targets confirmed with the Board and Executive Team
  • Employee engagement survey completed with a focus on inclusion and employee experience

TELL OUR STORY

Communicate a clear plan and narrative for DEI at the PRI, aligning our internal strategy and Walk the Talk programme

Key success

  • DEI strategy communicated to all employees and line managers for a shared understanding of our goals and priorities
  • A calendar for events and communications agreed with the DEI Working Group, including celebrating Black History Month, International Women’s Day and International Day of Persons with Disabilities

DEI Data and Pay Gap Reports

It’s critical that we approach DEI in the same way we would any other focus area for our organisation – transparently reporting our progress and taking steps to address issues we can identify through data. We continue to measure the impact of our work and identify further areas for improvement through regular analysis and reporting to our Board and signatories.

Diversity data collection is best practice to ensure we understand:

  • The makeup of our workforce and our “starting point”
  • Where the biggest gaps lie in terms of team/level diversity
  • What actions to take based on data and evidence
  • How to track the effectiveness of our programmes and progress over time

For more information, you can access our annual DEI Data reports.

DEI Data: Report, March 2024

DEI Data: Report, March 2023

Our Targets

After our first DEI data report, we developed targets in order to focus our minds, make a statement of intent and encourage us to ask questions of our approach as an organisation if we don’t see progress. We have initiatives which are designed to support this, but accountability for the targets sits right across the PRI with a particular focus on those with managerial responsibilities.

We also collect and report on employee engagement data, which can be found in our annual report. Our targets are set to focus on the outcomes of creating an inclusive and welcoming culture. If we recruit, develop and support all employees, we will see diversity at every level of the organisation increase.

*Black, Indigenous and People Of Colour (BIPOC) includes all ethnic groups except White and Any Other Ethnic Group - definition

Organisational targets Timeframes for review
Maintain a minimum of 50% female, Gender Non-Conforming (GNC) or non-binary employees at every level Achieved
A year-on-year increase in our overall Black population On track: 2% at 30 June 2023
BIPOC candidates to make up 30% of all new hires 24% [1] across Financial Year 2022/23
Black candidates to make up 10% of all new hires 6.25% [2] across 2022/23
BIPOC employees to make up 30% of all promotions 20% [3] in latest promotions round (Feb 2023)

[1]26% of new hires have not provided ethnicity data

[2]26% of new hires have not provided ethnicity data

[3]5% of people promoted in this round have not provided ethnicity data

What is our plan to achieve these targets?

  1. Continue the review of our core processes for greater consistency, building equity into the employee lifecycle

    2. Reviews of the recruitment, promotions and performance assessment processes are already underway to introduce greater consistency and fairness, with feedback from the DEI Working Group. Templates are being provided and new processes have been rolled out with training for managers.

  2. Training to support all managers

    3. We will continue with training and events to raise awareness as a core part of our DEI strategy. An increase in manager-specific training is planned for the coming months, on topics such as psychological flexibility and inclusive recruitment.

  3. Targeted sourcing and recruitment

    4. We’re reviewing our recruitment strategy to explore opportunities to source a diverse pool of candidates for open roles, with a particular focus on more senior positions.

  4. Directors and Managers working to support organisational progress

    5. Our quarterly Leaders’ Forum provides an opportunity to continue to develop our shared plan of action, supporting Directors to agree individual commitments such as creating an inclusive team environment and proactively developing more junior employees, which will support overall organisational progress against these targets.

Our Policies

Diversity Equity & Inclusion Policy

The PRI is committed to Diversity, Equity and Inclusion (DEI), with a zero-tolerance approach to any discrimination. This is in line with our core values as an organisation. Our aim is to diversify our workforce and for each employee to feel respected and valued.

See Policy

Diversity Equity & Inclusion Policy: Guidance Document

This document is intended as a helpful illustration of how the policy document can be used to guide behaviour. It gives examples and tips on how to bring “best practice” on DEI to life in your everyday interactions with colleagues.

See Policy

Our Activity

DEI Working Group

The diversity, equity and inclusion (DEI) working group is an employee-led group which aims to bring the employee voice to conversations on DEI to promote DEI for others and create a safe, supportive and equitable workplace.

Purpose and Aims

  • Raise DEI-related issues and suggestions to the attention of the DEI Lead, management and HR
  • Provide feedback into organisational changes, policies and practices from a DEI perspective to ensure no group is negatively impacted
  • Be active allies, challenging any sort of inappropriate behaviour including discrimination, harassment, victimisation, bullying and microaggressions
  • Raise awareness of DEI across the organisation by engaging with colleagues, sharing knowledge and co-creating DEI content and campaigns
  • Where appropriate and colleagues have sufficient capacity, support and/or lead on projects which promote greater DEI across the organisation

Working Group’s Terms of Reference

LGBTQ+ Network

The PRI’s LGBTQ+ Network was established in 2020 and offers a safe space for PRI employees who identify as being LGBTQ+.

Goals

  • To provide confidential peer-to-peer support and a safe space for our LGBTQ+ staff members
  • To provide support to non-LGBTQ+ staff members in matters relating to LGBTQ+ partners, children, etc
  • To raise accountability of the PRI to address LGBTQ+ issues as an employer of global workforce
  • To educate and raise awareness of LGBTQ+ issues
  • Where appropriate and colleagues have sufficient capacity, support and/or lead on projects which promote greater DEI across the organisation

Activities

Pride 2022
  • Leadership Team shared reflections of times in which they have recognised their own privilege, or the privilege of others and how it has impacted their view of what “inclusion in action” really means
  • Held a speaker lunch in the London office with Rachel Reese of Global Butterflies on trans & non-binary identities, it was recorded for remote employees and local employees that couldn't attend
  • Hosted an informal educational moment with drinks
  • Hosted a brunch event with a short video screening

Network’s Terms of Reference

Disability Network

The PRI’s Disability Network was established in December 2022 and offers a safe space for PRI employees who are impacted by disability, either personally or as a carer.

Goals

  • To provide confidential peer-to-peer support and a safe space for colleagues who wish to discuss their experiences
  • To educate and raise awareness of disability in the workplace
  • To advise the People Team on disability inclusion, for example with providing workplace adjustments
  • Where appropriate and colleagues have sufficient capacity, support and/or lead on projects which promote greater DEI across the organisation

Activities

  • Informal meetings and discussions are ongoing, with plans for a first flagship event later in 2023
  • For International Day of Persons with Disabilities 2022, the new Network members shared their personal stories to encourage openness and further discussions around disability in the workplace

Gender Balance Network

The PRI’s Gender Balance Network was established in January 2023 and brings together employees of all genders who are passionate about discussing topics related to gender equity.

Goals

  • To provide confidential peer-to-peer support and a safe space for colleagues who wish to discuss their experiences
  • To educate and raise awareness of gender inclusion in the workplace
  • To advise the People Team on gender inclusion, for example with policies around family leave and menopause support

Activities

  • The Network held their first event in March 2023, to celebrate International Women’s Day, with a panel discussion looking at women’s rights globally
  • They have also supported with the review and introduction of new policies, such as Pregnancy Loss and Menopause

DEI for signatories

The PRI supports its signatories to integrate DEI into its investment and ownership decisions. Find out more here…

Get in Touch

Lucy Kallen, Diversity, Equity and Inclusion Lead

Lucy Kallen

Head of Diversity, Equity and Inclusion