Why Diversity, Equity and Inclusion Are Central To Everything At The FSCS 

The Financial Services Compensation Scheme (FSCS) protects all regulated financial products in the UK. We are unique, internationally, for the scope of the protection we provide, are a free service for customers, independent of government, and funded by a levy on the financial services industry. Since our launch in 2001, we have paid £26 billion in compensation to six and a half million customers.

At FSCS we recognise the importance of a diverse and inclusive workplace and understand that this in turn helps us to deliver a brilliant service for our customers. Equity is a guiding principle of our Diversity and Inclusion Strategy: we are committed to creating a truly inclusive environment where everyone can succeed in achieving their personal and professional goals, balance their work and home lives and feel that they truly belong.  We recruit and support colleagues from the widest possible most diverse pool of talent, irrespective of age, gender, race, sexual orientation, disability, neurodiversity, or social background. 

The last 2 years have been a time of huge societal change, from the growing emergence of the Black Lives Matter movement, to balancing home and work life throughout the pandemic, to the ongoing Ukraine conflict and its global impact, and the cost-of-living crisis.

These huge external factors and their impact on our people serve to further highlight the importance of continuing to build on our ambitious Diversity and Inclusion Strategy and ensuring a flexible approach: from enhanced parental leave and dependency leave; supporting our Black colleagues; providing structured development for all colleagues to remove any potential barriers to progression; a focus on smarter working and taking ownership for your day; to working with external partners to cement our commitment to diversity and inclusion.

At FSCS our strategy creates a landscape where our people can flourish, and in turn have a positive impact on our customers. We truly believe ours is an organisation which makes a difference because we celebrate and encourage the differences within our people to achieve our shared mission.

We’ve achieved our best-ever performance year (watch video here); improved the experience for our customers; whilst increasing representation across all levels of the business; achieving record engagement scores in our People Survey and being recognised as the UK’s 4th Most Inclusive Employer. But we will not stop, ours is a continuing and ever evolving approach because the needs of our people, our customers and our world are ever changing too.

Author: David Blackburn – Chief People Officer, Financial Services Compensation Scheme

Photo credit: Nathan Dumlao on Unsplash

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