Inclusion needs action

Markel is committed to diversity and inclusion and has several strategies to achieve a more diverse and inclusive organisation.

“Diversity and inclusion are not just buzzwords at Markel; they are strategic imperatives,” Julie Humphreys (pictured), head of diversity and inclusion, international at Markel, told Intelligent Insurer ahead of the 10th Dive In Festival in September.

“Inclusion, or including, is an action: a doing word,” she said adding that she hopes to create workplaces where every individual feels valued, respected, and heard.

For nearly a decade, Markel has been a proud global partner of the Dive In Festival, the world’s largest diversity and inclusion festival.

“We’re very much a people-powered organisation, and we dedicate our time to celebrating and honouring the unique and individual qualities that make everybody who’s part of Markel special,” she said. 

This dedication to inclusion is woven into the fabric of the company and is a key reason it has been involved with the festival for nine years.

“Each year, we take the opportunity of the festival to learn more, to spark some conversations, and to undertake wider diversity and inclusion initiatives,” Humphreys explained.

She is particularly concerned with one aspect this year. “A 2023 report in People Management stated that 25 percent of LGBTQ+ young adults, aged 18 to 25, go back into the closet and hide their sexuality after starting work.

“We thought that deserved some more exploring, which is why we are hosting and sponsoring the Dive In event ‘Out and Proud in the Workplace’ on September 25,” she said

Making inclusion a strategic priority

Humphreys stressed that creating an inclusive culture requires ongoing action, particularly when it comes to attracting and retaining a diverse talent pool.

“Inclusion is an action, so creating an inclusive culture means that you have to take some action,” she stated.

At Markel, this includes recognising the importance of the talent pool and launching initiatives that ensure every individual feels valued, such as Dive In’s 2024 campaign, Nominate My Manager, that celebrates “unsung heroes who foster diversity and inclusion within their teams”.

“All colleagues have a role to play in ensuring that inclusion works in organisations,” Humphreys added, explaining that Markel’s involvement in this campaign is testament to its commitment to recognising and supporting those who make a tangible difference in creating an inclusive work environment.

“Attracting, developing, and retaining talent is a big challenge for the whole of the insurance industry.

“Insurance carriers and brokers have an increasingly diverse client base, so that means we need a diverse workforce to operate in all of those different spaces,” she explained. 

To address these challenges, Markel has implemented an inclusive behaviours framework, which is a modernisation of its previous HR policies.

The framework serves as a compass to guide behaviour and ensure that all colleagues and managers have the tools and understanding to foster an inclusive environment.

“It’s more than just a set of guidelines; it’s a commitment to steer us in the right direction,” Humphreys elaborated. 

To bring this framework to life, Markel introduced inclusive behaviours workshops across its UK offices that were tailored for different groups, including neurodivergent colleagues.

“It’s the same content but framed in a different way for our colleagues who would like a different type of workshop,” she noted.

“All colleagues have a role to play in ensuring that inclusion works in organisations.” Julie Humphreys, Markel

 Competing for the best talent

“In recent years, the competition for talent across insurance has intensified, driven by factors such as digital transformation and the rise of remote working,” Humphreys observed.

The demand for tech-savvy professionals who can navigate new technologies and data analytics has skyrocketed, while remote working has broadened the talent pool, allowing companies to recruit globally.

These trends have increased the competition for diverse candidates, making it more important than ever for companies to implement effective diversity, equality, and inclusion (DEI) strategies.

“DEI strategies are crucial in identifying, attracting, and retaining those under-represented communities,” Humphreys explained.

She emphasised the importance of fostering an inclusive culture, implementing unbiased recruitment processes, and offering targeted outreach programmes to ensure that diverse talent feels respected and valued.

Retention through mentorships

Once diverse individuals are brought into the organisation, it’s important to provide the support and opportunities necessary for their development and retention.

“Mentoring is a key component of our retention strategy,” Humphreys stated, noting that in addition to traditional mentorship, Markel is participating in the Dive In Festival’s reverse mentoring scheme, now in its second year.

This initiative pairs senior leaders as mentees with junior leaders as mentors to discuss DEI topics, offering a fresh perspective and fostering a deeper understanding of the challenges faced by under-represented groups.

“I’m very pleased to be part of that reverse mentoring programme,” Humphreys shared.

“I’ve met my new mentor, and I’m sure we’re going to have a rich relationship over the next six to nine months.”

Despite the progress being made, DEI professionals face significant challenges.

“Resistance to change within some organisational cultures can slow down initiatives around DEI,” Humphreys said. “Measuring the impact of DEI efforts remains a complex task, making it difficult to demonstrate tangible benefits to some leaders.

“It’s a demanding project, but it can be the difference between success or stagnation of a company,” she observed.

Taking more action

“Over the next five years, I’d like to see greater representation of diverse groups at all organisational levels, including the C-suite,” she said.

Transparent reporting and metrics are crucial, as they provide a clear picture of progress and areas for improvement.

Humphreys reiterated that creating inclusive cultures where every employee feels valued and heard is the key to a more equitable and innovative workplace.

“Inclusion is an action,” she said. “With commitment to those changes, we could start to create a more equitable and more innovative working environment.”

Registration for Dive In 2024 is open. Visit www.diveinfestival.com for more details.

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