Raising the Bar of LGBT+ Standards in Financial Services

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Inclusion Index Benchmarking Tracker

iiBT LogoLGBT Great provides members with business-to-business networking to improve LGBT+ DE&I through the Inclusion Index Benchmarking Tool (iiBT). The iiBT is an industry-focused tool that enables members to see where they are on their LGBT+ journey. LGBT Great provides guidance on how to complete the iiBT, supports on working through the ten indicators, and a post-completion consultation. This enables members to prioritise efforts accordingly to achieve the highest possible standards. 

The iiBT is recognised industry-wide as a demonstrator of LGBT+ standards. Completion of the iiBT is regularly itemised in requests for proposals as part of the due diligence process prior to asset allocation. Our extensive network of members is able to self-assess data scores and evidence organisational commitment towards LGBT+ issues. The iiBT encourages the collection of best practice case studies, which are then leveraged to shine a light on positive actions taking place across member firms.

 

Financial Services Industry Standards

The LGBT Great Financial Services Standards are only awarded to organisations that complete the Inclusion Index Benchmarking Tracker (iiBT). Gold, Silver, and Bronze standards are awarded to participating organisations, which achieve the required standard of scores. Organisations who achieve a standard are granted exclusive use of an LGBT Great standards badge for a period of 12 months. LGBT Great then works to raise the profile of accredited organisations to shine a light and role model success all year round. 

Submissions for the 2022 iiBT close on the 30th September 2022. We will announce those organisations awarded Gold, Silver and Bronze for the calendar year of 2022 on the 31st March 2023.

 

LGBT FS Standards

 

"Participation in the iiBT framework enables L&G to see where we are succeeding and where further focus is needed, essential to us as we seek to improve workforce diversity and build a more inclusive workplace. Since completing the iiBT, LGBT Great has supported us in understanding how we compare to peers in the financial services industry and inspired our L&GBT+Allies Network and others across L&G to drive positive change. The process of completing the framework has enabled us to affirm what is working well and empowered us to think ahead. The iiBT continues to be a valuable resource."
Laura Mason, CEO and Group Executive Sponsor for D&I, Legal & General Capital  

 

 Why complete the iiBT framework? 

  • Benchmark your organisation’s actions alongside other members
  • Connect and share best practices with a global network of organisations
  • Understand your current LGBT+ DE&I maturity level
  • Reinforce your organisation's commitment to LGBT+ sustainability
  • Spark new ideas to inspire further change and innovation 
  • Strengthen your reputation as an employer

 

 

 

Access the Framework

FAQs

Do you need to be an LGBT Great Member to access the iiBT?

No. The iiBT is open to members and non-members. Members get access for free. Once your organisation has become a member of LGBT Great, members are able to complete the iiBT framework. The enables you to benchmark your LGBT+ DE&I efforts on our maturity model, identifying where you are performing well and identifying those areas requiring focus. You will receive a personalised company report and complete an evaluation with LGBT Great.  
 

How can the iiBT help my organisation?

Completion of the iiBT enables organisations to affirm what they are doing well and spot areas for strategic focus. The process of completion is a key way to engage stakeholders across an organisation and focuses hearts and minds on the change actions which will make a difference. Several members have engaged junior LGBT+ talent and allies to help pull information together, empowering them with the opportunity to support their organisation’s progress.  
 

Is completion of the iiBT a requirement of membership of LGBT Great?

Yes. LGBT Great recommends that all members complete the iiBT within the first six months of joining membership. The purpose of this is do determine the stage of LGBT+ DE&I maturity and provide a base line for improvement. 

What does the iiBT framework assess?

The iiBT will assess your organisation’s LGBT+ maturity across ten DE&I indicators (see above). Each indicator can be completed one-by-one and according to each member’s priorities. Members are provided with a working level for each indicator based on LGBT Great’s maturity model. 

Should the iiBT be completed globally or at a country level?

The iiBT is principals based and can be completed at a country or regional level, depending on the member’s priorities. Some members select to complete separate submissions for different offices in the USA and Asia for example. Additional iiBT licences are available at a discounted fee. 

Who is responsible for completing the iiBT framework?

Completing the iiBT is best when it is a team effort. Each LGBT Great member has a dedicated iiBT Ambassador and their role is to manage and coordinate the completion of the iiBT. They are able to assign different indicators to different representatives internally. 

How are iiBT submissions assessed?

Submissions are assessed by LGBT Great using a marking framework. Each indicator is given a percentage score and aligned to a level on the maturity model and scores are aggregated to provide an overall score. 

Once the iiBT is completed what next?

LGBT Great recommends that all members book a detailed iiBT review consultation in which we share a detailed breakdown of the diagnostic with key stakeholders. Core members receive a complimentary workshop and this is available also as a consultancy solution. During the workshop, we work through the 10 sections to identity the areas which require the most attention and explore practical interventions that might help to address the areas that are falling short.