The Diversity Project is 5 years old! As we celebrated the milestone in June (brief recap and information about a new book that documents the story so far) we also took the opportunity to reflect on goals for the next five years. The pandemic has clearly created an inflexion point – amidst all the turmoil and the challenges, a chance to do things quite differently.
With more than 80 members and 50 partner organisations, the commitment to change across the industry is clear but the results are lagging. After consulting with stakeholders, we have published measurable goals for the next five years, signalling a collective determination to achieve those results.
See here for our new, ambitious 5 year targets around three specific dimensions of diversity: socio-economic, ethnicity and gender. This focus by no means diminishes the importance the Diversity Project attaches to other dimensions: rather, the intention is to measure our progress in those areas as a proxy for wider success. We also will be encouraging more efforts around intersectionality – ethnic minority women, for example.
We have been focusing 2021 around data and inclusion and these themes will continue to dominate. For Inclusion week in September we will be holding two webinars – firstly, what we mean by inclusion and another what you can do to make your organisation more inclusive. We ask all our Members to celebrate Inclusion week and organise their own events or equivalent. Please let us know what you are doing so that we can showcase your efforts by email [email protected].
There are two other significant new developments where we’d love your involvement. One is the BoE, FCA and PRA joint Discussion Paper on D&I. We warmly welcome the discussion paper, which signals the regulators’ intention to up the ante around these important cultural issues, and are preparing a joint Diversity Project and LGBT Great response. This will be shared with members in September ahead of the deadline; we anticipate that some member firms will want to submit their own responses but would encourage the use of any of the Diversity Project’s answers in their submissions.
In response to the ongoing call for practical help around intransigent issues, we are working on a ‘Gender Balance by Design’ manual, covering ‘what works’ from recruitment to developing senior female talent in the industry. Almost twenty volunteers are writing a planned 60 case studies of successful interventions across different sized firms; if your firm has a story to share please get in touch via [email protected].
And finally, just another shoutout for Steve Butler’s excellent book ‘The Diversity Project’: thanks to Steve’s generosity, all proceeds will go to the Diversity Project Charity. It’s a great way to bring colleagues up to date with the hard work of so many, shared through personal stories.
With best wishes for a wonderful summer.
Helena
Diversity Data
The effective collection of diversity data is not just a talent issue, it’s a critical business and reputation issue. Our data workstream has worked with Asset Owners, who have launched their Diversity Charter and with Investments Consultants and the work they have been doing in this area to move the industry forward. LGBT Great in conjunction with EY, the Diversity Project and some of our Members also released the following report “Holding up the Mirror: Diversity Data” which provides a great overview, practical information and case studies. The IA in conjunction with PWC have also released a guide.
Financial Services Skills Commission
Their Inclusion Measurement Guide enables organisations to measure inclusion in three priority areas; analyse the behaviours and actions of employees, measure inclusion for the first time, as well as assist firms who are already using inclusion metrics to develop their existing data and analysis.
Mental Health
With the pandemic continuing and mental health issues soaring, we have continued to provide varied and regular mental health webinars, including on the science of high performance and wellbeing and many others, found here in the video section.
Neurodiversity
The team have been featured in Investment Week regularly on all things neurodiversity, here are two other helpful resources; “How to Neurodiversity” – an introduction to successful neuroinclusion and Leaving Covid behind – putting neuroinclusion ahead.
#TalkAboutBlack
We are pleased to announce that The Skills Workshop has launched and sign up is already looking good. Over 60 companies have come together across the industry, to provide a free and virtual six-month programme to help young people with financial literacy, application preparation, workplace confidence, access to organisations and networking. Please pass on to your old Universities, your children’s unis and sixth form.
Race and Ethnicity
Watch the masterclass on ethnicity pay gap reporting here that focused on breaking down the task of successfully collecting diversity data and shares the practical frameworks and tools that can be used with your colleagues.
Returners
We are partnering with Women Returners again, building on the annual Diversity Project Cross-Company Returner Programme. We are launching a Supported Hiring initiative, promoting permanent business-as-usual roles to returning professionals and providing a supported transition back to mid to senior level roles. For more information, please contact [email protected].
SMART Working
As SMART working stays at the forefront of organisations discussions in the new ways of working, here are two discussions of how other companies are rising to the challenge; Fidelity International and Square.
LGBTQ+
LGBT Great launched the 2021 Global Top 100 Executive Allies and Ally Awards to celebrate Pride and spotlight executives from across the financial services industry, find out the winners.
Digital Access and Inclusion Webinar
Did you know that 80% of us will acquire a disability during our working life? Held on global accessibility awareness day, we discussed all things inclusive marketing, in its widest sense – language access, communications, websites, online and offline experiences, and so much more.
- In April, Matt Cameron appeared in Investment Week, ESG Clarity and Professional Pensions to discuss the ‘Holding Up The Mirror: Diversity Data’ report.
- Justin Onuekwesi also wrote to Investment Week in response to the controversial Sewell race review.
- The Diversity Project’s neurodiversity workstream evidenced the performance benefits of neurodiverse teams in another Investment Week column.
- In May, TAB launched the Skills Workshop for university students. Rachel Green’s comments appeared in: Portfolio Adviser, International Adviser, ESG Clarity, Investment Week and London Newstime.
- In June, the Diversity Project’s 5 year anniversary targets and Baroness Helena Morrissey’s quote was published in: IFA magazine, Pensions and Investments, Portfolio Adviser and FT Adviser.
- Does your organisation have Early Careers opportunities? Spring insight week, summer internship, year long industrial placement, graduate scheme or other? Please let us know at [email protected].
- Please send us your maternity and paternity leave policies, to help the Working Families workstream It will only be used for statistical purposes to help produce a Diversity Project benchmark.
- Complete our short survey intended for fathers who have recently taken extended paternity leave, so we can better understand their experiences and gain insights into benefits and barriers faced.
