On the shortlist: People Team Strategic Action Plan – Redwood Bank

Redwood Bank has been shortlisted for the DEI Innovation Award for its pioneering People Team Strategic Action Plan, led by Director of People, Tracey Lester. This integrated framework unites policy, culture, engagement, and leadership development to embed inclusion and gender equity at every stage of the employee experience.

Standout features include enhanced parental and menopause support, equal pay auditing, inclusive progression tracking, and the creation of a cross-functional Colleague Forum that gives employees a direct voice in shaping culture and inclusion. Already, the plan has delivered measurable outcomes: 38.7% of senior roles are now held by women, 39% of internal promotions align with workforce demographics, and 81% of colleagues say they feel they can be their true selves at work.

Through bold leadership, practical innovation, and strong values, Redwood demonstrates how small banks can lead meaningful cultural change—not just in words, but in action. Tracey shares how the plan has unified the organisation, amplified employee voice, and created measurable progress in building a more inclusive and equitable workplace.

What drove the decision to unify policy, culture, engagement, and leadership development under one framework?

We recognised that to embed inclusion meaningfully, we needed to move beyond symbolic gestures and fragmented efforts. The Strategic Action Plan was our response: a unified, organisation-wide framework that integrates policy, culture, engagement, and leadership development into the daily rhythm of how we work. It aligns with our business strategy and values, ensuring that inclusion is not a standalone initiative, but a shared responsibility. This shift has enabled us to move from awareness to action and from compliance to culture change.

How has the Colleague Forum amplified employee voice and shaped an inclusive culture?

The Colleague Forum is a cornerstone of our strategy. Formed by merging the DE&I Network and Culture Club, it’s a cross-functional, employee-led platform that gives colleagues a formal voice in shaping culture and inclusion. Members are empowered to gather feedback, propose solutions, and report back to their teams, creating a real-time feedback loop that drives action. With ExCo sponsorship and structured reporting, the Forum has continued the elevation of our employee voice to board level, while maintaining grassroots ownership. It’s further enhanced the transition from consultation to co-creation, and from passive listening to active inclusion.

Which outcomes are you most proud of, and what do they tell you about progress so far?

We’re proud of both the cultural and structural progress we’ve made. Key outcomes include:

• 38.7% of senior roles now held by women
• 39% of internal promotions awarded to women, aligned with workforce demographics
• DEI Index scores showing 81% of colleagues feel they can be their true selves at work

These results are supported by enhanced policies, transparent data, and inclusive leadership development. They tell us that our strategy is working—not just in theory, but in practice. We’re building a culture where inclusion is measurable, meaningful, and felt by our people.

What challenges did you face, and how did you adapt to overcome them?

Implementing the plan required a cultural reset. Early efforts were seen as symbolic or disconnected, and engagement fatigue was a real risk. We addressed this by:

• Unifying platforms and aligning messaging
• Launching the Colleague Forum to create authentic, action-focused dialogue
• Appointing an ExCo sponsor to elevate credibility and accountability
• Embedding inclusion metrics into manager reviews and performance cycles
• Adapting reporting to include gender data and feedback loops
• Employee Engagement Surveys to gather insights into how employees feel about their work, their team and the organisation as a whole.

By shifting language, processes, and leadership structures, we embedded inclusion into how people actually work—not just how they’re told to.

How have policy reforms influenced recruitment, retention, and progression?

Our policy reforms have had a tangible impact on our people agenda. Highlights include:

• Enhanced parental leave (26 weeks full pay)
• Paid carers leave and menopause support
• Flexible working embedded across teams
• Equal pay reviews and promotion tracking by gender

These changes have improved our ability to attract and retain diverse talent, particularly women and carers. They’ve also built trust in our progression pathways and created a more open, supportive culture. Inclusion is now seen as a strategic asset—not just a compliance requirement.

What’s next for the Strategic Action Plan?

The plan is designed to evolve. Next steps include:

• Embed Inclusive Leadership Behaviours  into performance reviews and management training / development programmes.
• Expanding storytelling to spotlight lived experience and inclusive leadership
• Integrating the Events Group into the Colleague Forum for joined-up planning
• Deepening intersectional reporting
• Continue to Survey Colleagues to understand inclusion experiences and perceptions

We’ll continue to use data, feedback, and external benchmarking to guide our progress. Our goal is to build a culture where inclusion is not a project – it’s how we lead, grow, and succeed together.