18/07/2024 | Press release | Distributed by Public on 19/07/2024 11:28
I'm pleased to share that the majority of U.S. adults recognize and value the positive effects of Diversity, Equity and Inclusion on the workplace. In a recent survey by Ipsos, 71% of respondents said they want DEI resources within their organization and believe training is important to "creating a positive workplace culture."
It is also important to note that Diversity, Equity & Inclusion is a journey, not a destination. Rather than being viewed as an "add-on" to other efforts within an organization, it works best as an integrated, highly collaborative approach that reaches into every corner of how you do business.
With this in mind, I want to share a Diversity, Equity & Inclusion Roadmap that I believe can help your company develop an approach that is meaningful for your business, no matter where you are along the journey.
Today, DEI has become more important to a financial institution's critical stakeholders - from shareholders, clients and community members to the team members who serve them. Banks can no longer afford to put off investing in their culture, workplace diversity and talent pool. The evolution, and subsequent importance, of DEI has made it the driver for better business results for financial institutions.
Do your employees, from executive leadership to entry level roles, reflect the diversity and lived experience of your client base? Do they understand the unique cultural richness of the communities you serve? If not, your company may not be maximizing the return on investment in its most important asset: your employees.
If your frontline decision-making teams reflect a diverse and inclusive culture, then you are likely among the 75% of companies that exceed their financial targets (Gartner, 2022). Adding to this success, gender-diverse and inclusive teams outperformed less-inclusive teams by 50% on average (Gartner, 2022).
Additionally, diverse teams are more tapped into different experiences, which gives your organization more options and greater flexibility. They are more effective at identifying new opportunities and tend to be more innovative, resourceful and better at ideation and driving growth.
As a leader of this work, I firmly believe that focusing on Diversity, Equity & Inclusion never comes at the expense of success. Rather, a strategically implemented Diversity, Equity & Inclusion approach in your business will propel you to greater heights by providing you access to new partnerships, relationships and new clients.
My 20+ year career in financial services in roles in wealth management, commercial lending as well as community engagement and corporate philanthropy uniquely shapes my perspective on the power of Diversity, Equity & Inclusion in business. In my previous client-facing roles, my lived experience coupled with deep industry expertise opened new business opportunities in untapped markets. As a community engagement leader, I was able to build meaningful relationships and uncover new client opportunities by understanding needs through a broad, intersectional cultural lens, developing solutions that meet people where they are while building the company brand and influence in the community. Just these couple of examples demonstrate how my dimensions of diversity and cultural competency have served me well in driving business results. This is the power of Diversity, Equity & Inclusion for businesses!
Now, take a moment to imagine how your company can leverage Diversity, Equity & Inclusion to accelerate your business goals. Focus on the work, not the destination, and you will enjoy success!
This article is reprinted with permission from the July/August issue of Hoosier Banker magazine.Click hereto see the original article, along with a link to the Indiana Bankers Association's new Diversity, Equity & Inclusion Roadmap.