Multicultural
Committed to building a multicultural workforce
We are firmly committed to being a trusted ally in the pursuit of racial justice, and to driving equity across the communities in which we live and work.
Our vision is to be inclusive of colleagues and customers of every race, ethnicity, nationality and faith; and to increase opportunities and representation, while reinforcing our stance of zero tolerance on racism and discrimination and driving equity across the communities in which we live and work.
In order to create further transparency, in 2022 we have for the first time published separate ethnicity pay gaps for colleagues who identify as Asian, Black and Multiracial ethnic groups. Being transparent about our opportunities, and the progress we have made is one way we hold ourselves accountable.
Read more in Barclays Diversity, Equity and Inclusion Report:
My role as sponsor is to help champion multiculturalism and drive a greater understanding of its importance within the bank. By helping colleagues to understand that diversity is a good thing and encouraging them to challenge bias can positively impact the organisations culture, making it a more inclusive environment for all.
Group Chief Risk Officer and Sponsor for the Multicultural Agenda
Race at Work
Race at Work is a critical diversity, equity and inclusion initiative for Barclays. Conceived by colleagues, and forging a bond that goes beyond the workplace, our racial equity agenda is a reminder of the power of the collective – and of our colleagues’ ability to drive real change.
The bank launched its Race at Work agenda in 2020 to focus on removing barriers facing ethnically diverse talent and developing a more inclusive culture for colleagues from underrepresented ethnicities*. As part of this, Barclays has been working towards a set of Race at Work Ambitions to achieve by 2025.
As at the end of 2023, two of these ambitions have been achieved – a total of 5.1% of employees in the UK are from underrepresented ethnicities and a total of 21% of employees in the US are from underrepresented ethnicities.
Underrepresented Race and Ethnicity Ambitions
As a result of progress made to date, and the bank’s ongoing commitment to racial equity for colleagues from underrepresented ethnicities*, new Underrepresented Race and Ethnicity Ambitions are being introduced:
- To achieve a further increase in the number of employees from underrepresented ethnicities in the UK by 12.5% by the end of 2025 (to a total of 5.7% overall from a baseline of 5.1% as at end December 2023)
- To achieve a further increase in the number of employees from underrepresented ethnicities in the US by 5% by the end of 2025 (to a total of 21.9% overall from a baseline of 21% as at end December 2023)
- To increase the population of Managing Directors from underrepresented ethnicities in the UK and US by at least 50% (to a total of 84) by the end of 2025. (Existing ambition)
These ambitions form part of Barclays’ Diversity, Equity and Inclusion (DEI) strategy. It is intended that these are reset again in 2026 in accordance with progress and continued evolution of the bank’s DEI approach.
Our 2022 Race at Work agenda Impact Report
Our latest report shares the impact of our work so far – and acknowledges there is more to be done.
The UK’s Race at Work Charter
Barclays were one of the first signatories of Business in the Community’s Race at Work Charter, and we have voluntarily disclosed our Ethnicity Pay Gap since 2018.
The Charter comprises five principal calls to action for leaders and organisations across all sectors. The five actions are:
- Having an executive sponsor for race
- Capturing ethnicity data and publicising progress
- Committing, at Board level, to zero tolerance of harassment and bullying
- Making it clear that supporting equality in the workplace is the responsibility of all leaders and managers
- Taking action to support ethnic minority career progression.
We delivered on these commitments by implementing the following:
- We continue to voluntarily disclose our UK-wide ethnicity pay gaps
- The Barclays Way, our code of conduct, is clear that we will not tolerate discrimination, bullying or harassment
- We make it clear that all of our leaders have a shared responsibility to build a diverse and inclusive culture
- We implemented a 12-point action plan on Race at Work that will open up opportunities to attract, develop and add to our great Black talent globally.
Multicultural employee resource groups
Dedicated to championing Barclays' ambition to be the bank of choice for multiculturalism, ensuring that we value, respect and maximize the diversity of all colleagues of all ethnicities, faiths, backgrounds and geographies. We have a number of multicultural employee resource groups (ERGs).
*Barclays defines underrepresented ethnicities as Black and Multiracial (mixed) in the UK. In the US, we define underrepresented ethnicities as African American/Black, Hispanic/Latino and other (includes Multiracial, Native American, Native Alaskan, and Hawaiian/Pacific Islander).