《Diversio:2023金融行业DEI快速指南(英文版)(13页).pdf》由会员分享,可在线阅读,更多相关《Diversio:2023金融行业DEI快速指南(英文版)(13页).pdf(13页珍藏版)》请在三个皮匠报告上搜索。
1、The Diversity Data ExpertsIndustry FocusQuick Guide to DEI for the Finance IndustryThe Diversity Data Experts2Table of Contents:Introduction:I.DEI in the Finance Industry.3II.IndustryRegulations .4III.Is Your Company Compliant?.6IV.TakingActionNow.12The Diversity Data Experts3The Emergence of DEI in
2、 the Finance IndustryThesocialjusticemovementsof2020havepusheddiversity,equity,andinclusionintotheforefront,promptinggovernmentsandregulatoryagenciestofollowsuit.Globalmandatessetbytheseinstitutionsensurethat steps are being taken to implement DEI across all industries and organizations.Thereisaninc
3、reasingdemandforindustryleaderstotakeactionandaclearstancecondemningprejudicedbehaviors,attitudes,andactionsintheworkplace.According to the MassachusettsInstituteofTechnology,thefinanceindustry,oneoftheleastdiverseindustriesintheUnitedStates,isbeingheldundercloserscrutiny.Thisguideisintendedtoinform
4、sectorsofthefinancialindustryoflegislativecomplianceissuesandhowtoimplementDEIbestpracticesintheworkplace.I.The Emergence of DEI in the Finance Industry1.JP Morgan Chase2.Bank of America3.Mastercard4.Northwestern Mutual5.TD Ameritrade6.Wells Fargo7.Fidelity8.Prudential9.Morgan Stanley10.Hartford Fin
5、ancial Top 10 Most Inclusive Financial InstitutionsThe Diversity Data Experts4Industry RegulationsThefinanceindustryisnotoriousforitslackofdiversity.Some legislativemeasureshavebeentakentocorrectdiscriminatoryinjustices,suchastheDodd-FrankActof2010,whichwascreatedtoincreaseracial andgenderinclusivit
6、yatfinancialinstitutionsandregulatoryagencies.Underthisact,federalagenciesarerequiredtocreateanOfficeofMinorityandWomenInclusion(OMWI).Recently,theFDICsOMWIcreatedtheFinancialInstitutionDiversitySelf-Assessment,whichcallsonsupervisedinstitutionswithatleast100employeestosubmitself-assessmentsoftheird
7、iversitypoliciesandpractices.The CreditUnionNationalAssociation(CUNA)plans to ensure that DEI plays ameaningfulrolethroughouteveryaspectofthefinancialservicessector.Ithas included these three acts in its commitment to advance DEI principles in financialservices:Financial Regulatory Advisory Committe
8、es Act Federal Home Loan Bank Board Diversity Act Federal Reserve Bank Board Diversity ActII.Industry RegulationsThe Diversity Data Experts5The top 3 most frequent Inclusion Pain Points across the Financial Institutions in the Fortune 500 cannot be solved with diversity training and do not fall unde
9、r the purview of a Chief Diversity Officer.12%Pay Equity 11%AdequateResourcing 8%Career DevelopmentEntrenched Issues Require Organizational ChangeNASDAQhasalsocontributedtotheshiftingDEIindustrylandscapebycreatingaBoardDiversityRule,approvedbytheSecuritiesandExchangeCommission,“toencourageaminimumbo
10、arddiversityobjectiveforcompaniesandprovidestakeholderswithconsistent,comparabledisclosuresconcerningacompanyscurrentboardcomposition.”Perthisnewlegislation,companiesthatwanttoberecognizedandlistedunderNASDAQmusthavetwodiverseboardmembers,andoneofthemhastobeafemale.Iftheydonot,theyhavetoprovidereaso
11、ningastowhy.Suchcompaniesarealsorequiredtoreleaseboard-leveldiversitystatisticstoNASDAQ.Aswecontinuetomoveforwardsintoanincreasinglyinterconnected,globalizedsociety,morelegislationmirroringtheseinitiativeswillcontinuetoweavethroughoutotherfinancialindustryorganizations.Knowingwhatisgoingtoberequired
12、anddesigningaplantocreateamorediverseworkplacewillallowyourbusinesstocomplywithfutureregulationsandcontributetoamoreproductiveworkenvironment.ImplementingDEIpracticesbeforeitismandatedcanbeleveragedasacompetitiveadvantage,sinceyoullbeabletotailorDEIpracticesuniquelytoyourcompanysneedsonatimelineyouc
13、anbettercontrol.II.Industry RegulationsThe Diversity Data Experts6Is Your Company Compliant?Asmorelegislationisproducedtoenhancediversityamongstfinancialinstitutions,businessesneedtobeawareofDEIbestpracticestoreapthebenefitsofadiverse,equitable,andinclusiveworkforce,andavoiddisciplinaryaction.Herear
14、esometipstoevaluateyourorganizationandunderstandifyouarecompliantwithdiversitylegislation:Review Internal and External Hiring Processes.Doyouhaveclearlydefinedtargetstoensureyoureinterviewingenough diversecandidates?Areyougoingbeyondtraditionalsourcingfortalent?Creatingarecurringauditofyourcurrenthi
15、ringpracticeswillhelpdiscoverstrengthsandweaknessesinDEI,makingadjustmentsasneeded.Create a Clear Job Description Using Inclusive Language.Creatingaclearjobdescriptiontoselectfromapoolofbest-talentcandidates isfundamentaltoDEIhiringpractices.Jobdescriptionwordingshouldallowpeopletoseethemselvesattha
16、tparticularjob.Makesureyouarenotusinganyexclusionaryvocabularywhendescribingtheavailableposition.III.Is Your Company Compliant?The Diversity Data Experts71.To measure Inclusive Culture,askemployeeswhethertheiropinionissought and valued by their teams.2.To measure Fair Management ask whetheremployees
17、haveexperiencesbiasinmanagerfeedbackorreviews.4.To measure Flexible Work Options,ask employees if they feel they have theflexibilityneededtobalanceworkandhomeobligations.3.To measure Career Development,askwhetheremployeeshaveaseniorleaderwhoisinvestedintheirsuccess.5.To measure Safe Work Environment
18、,ask employeeswhethertheyhaveexperiencedanyformofharassmentintheworkplace.6.Toobtainmoregranularinsights,includeoneortwoFree Text Questions that ask employeestodescribehowtheircompanysupportsbelongingnessandwhatcouldbedonebettertoimproveworkplaceinclusion.Clarify Key Performance Indicators(KPIs).Par
19、tofDEIsbestpracticesincludesclarifyingkeyperformanceindicators.Definingcleargoalsduringthehiringprocesscanhelpthembecomemoreattainable.III.Is Your Company Compliant?The Diversity Data Experts8 Share Your Diversity Data Publicly.Shareholder buy-in is becoming increasingly dependent on the transparenc
20、yoforganizationstoreleasedataregardingdiversitywithintheirworkforce.Investors,customers,andemployeesarepressuringbusinessestomakethedatatheyreleasetotheEqualEmploymentOpportunityCommissionpublic.Datashouldrevealdiversityispresentlaterally,notjusthierarchicallyattheboardlevel.Demandforreleasingpublic
21、dataonworkplacediversityisalsostartingtobeimplementedthrough legislativeaction.Analyze Your DEI Statement or Strategy.ThemostimportantthingwhencreatingyourDEIstatementisimplementingaction.DonotsimplystatethatyousupportDEI,butidentifyhowyousupportitaswell.ExplainwhatDEImeanstoyourcompany,whyitmatters
22、toyou,andhowyouapproachDEIinyourbusiness.ThinkaboutthetypesofgoalsyouaresettingtoimproveDEInotjustthatyousupportadvancement,buthowyouplantoachievethisgoal.EmphasizethatyourorganizationhasDEIattheleadershiplevel.Includingasimplestatementthatsays,“WevemadesureDEIisintegraltoallourbusinessfunctions,and
23、assuch,haveappointedinsertnametoleadtheseefforts”willshowthatyouhaveaccountabilityatthehighestlevelsinyourorganization.III.Is Your Company Compliant?The Diversity Data Experts9AfewofthesupportprogramsautomaticallysuggestedbyDiversiosAI-powered“Recommendation Engine”based on specificpainpointssurface
24、dbythesoftwareplatform.Implement Support Programs.Takeimmediate,actionablesteps.ProvidetrainingandworkshopsthatpromoteasafeandinclusiveworkplaceusingDEIbestpractices.Mentorshipprogramsfordiversetalent,flexibleworkschedules,andpaidfamilyleavearenecessaryofferingsforaworkplacethatvaluescultural divers
25、ity.III.Is Your Company Compliant?The Diversity Data Experts10 Garner Employee Engagement With Feedback Opportunities.Visibilityisimperativetocreatingaworkplaceofbelongingness.Provideopportunitiesforeveryvoicetobeheard.Employeeresourcegroup(ERG)programsareemployee-ledandcanhelpfosterDEIintheworkplac
26、e.EffectiveERGsareorganizedbasedondataorconversationshadacrosstheorganization.Whicheverprogramyourcompanydecidestoimplement,itisimportanttocreateinclusionamongsttheentireworkforce.III.Is Your Company Compliant?Anexampleofasurveyusedtogatheremployeesentimentand generate the Diversio Inclusion ScoreTh
27、e Diversity Data Experts11 Be Aware of Significant Dates/Months.Isyourcompanyawareofsignificantcalendarevents?Disabilitymonth,Latinxheritagemonth,Ramadan,Pridemonth,MartinLutherKingJr.day,etc.?Workplacesarecomposedofavarietyofpeoplefromalldifferentculturesandbackgrounds.Neglectingspecificdatesthatap
28、articulargroupofyourcompanycelebratescancreateadivisionamongyouremployees.Howdoyousupportemployeeswhoidentifyaspart of these groups?Enforce Important Policies.Whatpoliciesareinplacetohandleharrassmentorprejudicedcomments?Whatdoesthatreportingprocesslooklike?Whatsupportdoyouofferemployeeswhoarevictim
29、sofsuchanoccurance?Preventionisthebestwaytocombatandeliminateharassmentandprejudiceintheworkplace.BesuretoincludethistrainingaspartofyourDEIbestpracticeslandscape.Establishthatyourcompanyhasano-tolerancepolicyregardingharassmentandassault,prejudicedordiscriminatoryactions,andhatespeech.III.Is Your C
30、ompany Compliant?The Diversity Data Experts12TakingAction NowSteps have already been made to implement DEI into statutes and regulations.Organizationsneedtobepreparedandevaluatehowtheir companycanbemorediverse,equitable,andinclusivetocreateabetter future,bothforthemselvesandtheiremployees.Thefinance
31、industryplaysapivotalroleinsettingthetoneforamorediverse,equitable,andinclusivemarketplaceintodaysglobaleconomy.Largerinstitutionsneedasystemthatistrustworthyandefficientwithaproventrackrecord.Diversioslanguage-intelligentsoftwarecombineshumanintelligencewithAIto:Differentiateforarangeofemployeeexpe
32、riencesusingaggregatedatabasedon6KPIs Garneremployeetrustusingananonymous,four-minutesurvey Offercomprehensivetrainingworkshopsthatcomplementourready-to-implementrecommendationsintheformofactionablesolutions TrackandmeasureyourorganizationsDEIinitiativesprogresswithoursecure,user-friendlydashboardinterfaceContact us to learn how Diversios AI-powered dashboard and team of DEI experts can help your organization achieve its goals.Book a DemoIV.Taking Action Now