The making of LGBTQ+ leaders in an international bank : obstacles and strategies to career progression /
Pinkbank, a large international bank based in the UK, has been prominent in supporting the LGBTQ+ community. The company has developed extensive policies regarding diversity and inclusion of this community. The bulk of these policies have been focused on developing HR equality policies, equal benefi...
| Main Authors: | , , , |
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| Format: | eBook |
| Language: | English |
| Published: |
London :
University of Cambridge, Judge Business School,
2024.
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| Series: | SAGE business cases.
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | Pinkbank, a large international bank based in the UK, has been prominent in supporting the LGBTQ+ community. The company has developed extensive policies regarding diversity and inclusion of this community. The bulk of these policies have been focused on developing HR equality policies, equal benefits for employees such as equal pay, anti-discrimination policies, and setting up employee resource groups and networks. Pinkbank has also taken actions outside the company walls to promote the rights of LGBTQ+ members including advertising same-sex couples, closing bank accounts of customers displaying anti-LGBTQ+ behaviours, and supporting pride events. The company has been internationally recognised, being regularly ranked among the top pro-LGBTQ+ organisations, and being rewarded with LGBTQ+ awards. Pinkbank has made significant progress to date, but there are still gaps with diversity lacking at the top and numerous hurdles that the LGBTQ+ community faces to climb up the corporate ladder. In particular, there is a lack of role models and mentors in senior positions who could inspire LGBTQ+ members to climb to the top. Aside from the structural impediments to advancement at Pinkbank, there is an apparent lack of data on the LGBTQ+ talent pool. Other obstacles to progression include mental barriers such as self-censoring and a lack of trust. Based on interviews with numerous ambitious members of the LGBTQ+ community at Pinkbank, they employed unique approaches to rise above the many obstacles. Through three protagonists' experiences, we see how the LGBTQ+ workforce is not static and has crafted innovative strategies to address these breakdowns. Networking is a powerful tool to connect not only with individuals from the same community sharing the same burdens, but also with allies outside of the community, helping LGBTQ+ employees leverage their knowledge and progress within the company. Capitalising on their unique experience and position is another powerful tool. LGBTQ+ members communicate with their colleagues about their experience and become vocal when they encounter discriminatory behaviours or processes within the organisation. Finally, LGBTQ+ members became the role models they didn't have at the beginning of their careers, providing mentorship, guidance, and respect to other LGBTQ+ members, thus creating and leading action to address biases within Pinkbank. While these strategies are helpful and complement existing efforts from Pinkbank to enhance inclusion of the LGBTQ+ community, the company should address remaining hurdles and take a stance by implementing diversity within leadership, and across all its business departments and networks, by penalising discriminatory behaviours and policies, and by strongly advocating legislation that supports LGBTQ+ rights. |
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| Physical Description: | 1 online resource : illustrations. |
| ISBN: | 9781071946060 1071946064 |