Inclusion & Diversity
We are committed to an environment that is open, inclusive and empowering in which all of our people can thrive. We believe that our success is achieved through engaging our people within a culture which rewards those who move our business forward.
UK Pay Gap Report
We are pleased to share our first combined gender and ethnicity pay gap report. While gender pay gap reporting has been mandatory since 2017, the reporting of ethnicity data is not yet mandatory for our sector.
We are sharing our data now as part of our aim to lead inclusion and diversity (I&D) efforts in our industry. We are committed to addressing both our pay gaps and building a safe, open, inclusive and empowering environment for all our people today and into the future.
At TMK, we aim to be a ‘Good Company’ by being a great company to do business with and a great place to work. Inclusion is one of our company values, and we are working to embed a culture where we encourage diverse views to make better decisions, respect each other and invite difference in all forms.
We believe that our success is achieved through engaging our people within a culture which rewards those who move our business forward. Ensuring our talent pool comprises a diverse range of people and perspectives is a critical enabler for innovation.
You can view the TMK Inclusion, Diversity & Equality Policy here
We recognise that an inclusive and diverse culture brings important benefits to our company. A key part of our focus is embedding an environment where everybody feels included, safe and empowered to be their best, every day.
We have created an Inclusion & Diversity Council, which consists of members from across the business and is Co-Chaired by our CEO. This group is responsible for setting, communicating and implementing our inclusion strategy and action plans.
Every member of our Executive Team takes an active role in our plans.
Our people can join a series of employee-led groups, which are voluntary and sponsored at an executive level to ensure we maintain an open dialogue about issues that affect all of us.
Inclusion & Diversity Networks
TMK has a long and proud history in leading gender inclusion in the insurance market. In the 1960s, our founder, Robert Kiln, campaigned for women to be allowed to work in the underwriting room at Lloyd’s. His ideas were both progressive from a commercial perspective as well as socially aware, and inspired a focus on inclusion that remains a core value within TMK’s culture and identity today.
Gender equality is one of the UN Sustainable Development Goals that TMK is focused on. Although there is much to do, both at TMK and in our sector, we have made continued progress. Since first sharing our gender pay gap data in 2018, our mean gender pay gap has reduced from 33% to 22% in 2022 as a result of our focus on improving representation and building our inclusive culture. You can read our first combined gender and ethnicity pay gap report here.
TMK is also proud to be a signatory firm of the Women in Finance Charter and has been recognised as a ‘Raising the Bar’ company for exceeding and increasing our original gender representation targets. The Charter reflects the UK Government’s aspiration to see gender balance at all levels across financial services firms. For more information on our goals visit Women in Finance section.
Gender is one of our six active employee networks. Network members are regularly engaged in leading change at TMK. In 2022, this included creating our gender and ethnicity pay gap plan and a holistic review of HR Policies and best practices. In addition to projects that are focused on driving change, our networks have also organised awareness-raising events and learning sessions, including a month-long programme for International Women’s Day. This included a speed-networking activity with senior leaders that was hosted by the Women’s Network, which was open to all employees and attended by many of our senior leaders including our CEO, Deputy CEO, two female executives and our two female Board members. TMK also ran menopause awareness sessions for employees.
"The society we live in means I am in a position of privilege. I believe that means I have a responsibility to help level the playing field – to influence, change and help make a difference for those that face inequality of opportunity.ˮ
CFO and Executive Sponsor for Gender Network
The Pride Network is committed to providing a supportive environment for LGBTQ+ individuals, fostering a workplace where LGBTQ+ individuals and their allies can thrive.
Our core purpose is to ensure that all employees are supported and respected, no matter their sexuality or gender. We also seek to raise awareness of LGBTQ+ issues through education, as well as celebrating diversity within our network and in TMK as a whole.
We believe in making a positive impact beyond the workplace, supporting others who are in need. We seek to collaborate with charities or local LGBTQ+ organisations, as well as making donations each year to charitable causes.
“I want our workplace to feel open and welcoming, and for people to feel comfortable in sharing their home lives with work colleagues, without any anxiety of being judged. Simply getting together and talking as a network has been enriching for me. I am so proud of what our group has already achieved and very excited for our plans for the future."
Chief Administrative Officer and Executive Sponsor for LGBTQ+ Network
The ethnicity network group aims to raise awareness and promote ethnic diversity at all levels across our business by playing a proactive role in TMK’s Inclusion and Diversity strategy. The group is working closely with our human resources, executive leadership and other network groups to achieve our goals, which cover four areas:
- support for individuals
- promote awareness
- guide policies and procedures
- measure progress
TMK became a founding partner of the African-Caribbean Insurance Network (formerly ACIN – now known as Equity) in early 2019 as part of a drive to become a more inclusive business. Our strategic partnership with Equity has given us insights and access to perspectives on key issues affecting not only our business and our people, but our industry overall – and we are stronger for it. In addition to this, we proudly partner with iCAN (the insurance cultural awareness network) and The Brokerage as part of our focus on early careers.
In 2021 TMK signed up to the Halo Collective, which aims to protect individuals who come to work with natural hair and hairstyles associated with their racial, ethnic, and cultural identities. Find out about the Halo Collection here.
"The power of representation has the potential to transform lives and enrich our experiences. Our individual, unique qualities collectively shapes who we are and what we represent and I believe that our ethnic and cultural diversity strengthens us as a business. I commit to playing my part in the transformative journey we have embarked upon and am acutely aware that we still have some way to go.ˮ
Group Chief Risk Officer and Executive Sponsor for Ethnicity Network
FAMILIES & CARERS
TMK understands the challenges that working parents and those caring for others can face. Our Families & Carers group consists of a network of individuals who provide support to each other through shared experiences and advice.
The group also acts as a sounding board to our business, providing input into TMK’s parental policies, flexible working planning and benefits.
"A healthy work/life balance is integral to the overall wellbeing of our staff. Ensuring Families & Carers have the flexibility, support and resources to manage the challenges and demands of their individual circumstances is something I feel is crucial to maintaining a positive and productive working environment.ˮ
Underwriting Strategy Director & Departmental Head of Portfolio Solutions, and Executive Sponsor for Families & Carers Network
We are pleased to be recognised as a level 2 Disability Confident Employer, which means we put policies into practice to ensure we have equality in our workplace. Our objective is to play a leading role in changing attitudes for the better, by treating all employees fairly and removing any stigma around both visible and non-visible disability.
We aim to achieve this by:
- Raising awareness and creating space for discussion to remove stigma around disability.
- Encouraging talented people to join our business, regardless of whether they have a disability.
- Promotion of insurance as a career, to encourage young people with a disability to consider a career in insurance.
As part of our ongoing commitment to creating a more open and inclusive culture, we promote disability in the workplace in a range of ways. This includes highlighting lived experiences of staff members, fundraising for various charities, collaboration with other TMK networks and frequently organising engaging and informative training for staff on a range of disability topics. This is an ongoing commitment, with recent training sessions facilitated by Enhance the UK, including:
- General disability awareness training
- Neurodiversity training
- British sign language courses