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BAME stands for Black, Asian and Minority Ethnic. I am from a BAME background and I feel passionately about BAME empowerment.
But what does BAME empowerment actually mean? It means the empowerment of BAME individuals to be themselves, made possible by creating an inclusive and accepting environment. BAME power can be enhanced not just through the actions of BAME individuals themselves, but just as importantly by the actions of everyone within the workplace.
When I first started working at the Bank 20 years ago, there were few people like me at work and very little was said and done about diversity. Over time BAME representation in the Bank increased, but there was a need to think about improving and harnessing BAME diversity more effectively. That is why four years ago I co-founded the Bank of England Ethnic Minority (BEEM) staff network, and I have led the network as co-chair until recently. The network aims to ensure that:
The network’s four pillars are inclusion, empowerment, outreach and the celebration of diversity. The network holds events to celebrate key dates such as Chinese New Year, Diwali and Black History Month. We also work with senior management to design initiatives that empower our BAME colleagues and support the recruitment and progression of the very best BAME staff.
Taking the time to celebrate
Walking through the corridors of the Bank today I feel immensely proud to have led the BEEM network over a period where the organisation has achieved greater diversity and greater recognition of the benefits of diversity. This has been possible given the team effort involving the BEEM network, HR, senior management and the many others who have helped contribute to greater BAME diversity at the Bank. And BEEM’s work was recognised with the network being shortlisted for the Public Sector Network of the Year in 2015 and the Employee Network Group of the Year in 2016.
Below I list the practical change initiatives that had had the most impact for our organisation:
The journey ahead
BAME Diversity is rising at the Bank and elsewhere, but there is more to do. In 2015 14% of the UK population were from BAME backgrounds. If the BAME population were doing as well as their average non-BAME counterpart, then the share of BAME staff at all levels of (including senior management and CEOs) would also be around 14%. But that is not the case yet. Instead, in the UK BAME representation falls back sharply to 4% at CEO level for FTSE100 listed companies.[1]
As a former co-chair of BEEM, I often get asked what one thing would improve corporate diversity. Across the Bank and other organisations there has been significant progress and the good news is that there is a package of measures that I believe could deliver even greater improvement over a reasonable horizon.
So, what are these concrete steps that can be taken to improve BAME diversity?
Summing up
There has been great progress on BAME diversity at the Bank (and other organisations) in recent years. It is really worth taking the time out to celebrate that achievement. And while the journey is not over yet, the recent momentum is cause for great optimism.
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[1] https://www.modernmanager.co.uk/lack-of-diversity-in-uk-companies/ and Audeliss
[2] Blindspot: Hidden Biases of Good People by Mahzarin R Banaji and Anthony G Greenwald, published 2013.
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