April 2021 Issue: 3 Steps Toward Creating a Diverse and Inclusive Culture in the Workplace-3 Steps Toward Creating a Diverse and Inclusive Culture in the Workplace by Mindy Neira

3 Steps Toward Creating a Diverse and Inclusive Culture in the Workplace by Mindy Neira

Pdf Summary

The article discusses the importance of diversity, equity, and inclusion (DEI) in the financial services industry. It emphasizes the need for intentional focus and actionable steps to create real change. <br /><br />The first step in this process is to assess the current state of diversity within the firm by looking at the demographics of employees, clients, and affiliations with vendors and third parties. Conducting an internal census and gathering feedback from employees can provide a baseline for measuring progress and identifying areas for improvement.<br /><br />The second step is to examine the reasons behind the current state of diversity. This involves evaluating hiring practices, upward mobility and mentorship opportunities, workplace culture, compensation transparency, advertising and marketing strategies, philanthropic initiatives, and networking efforts. Understanding the contributing factors can help in developing strategies for improvement.<br /><br />The third step is to create an action plan that includes ongoing training and discussions on DEI, improving hiring practices and addressing unconscious biases, expanding networking efforts to include diverse communities, providing education on important concepts, and celebrating cultural diversity throughout the year. It is important for senior leadership to be actively involved and take ownership in implementing these changes.<br /><br />The article also mentions the availability of a DEI toolkit by the NAPFA DEI Initiative, which can provide further guidance and support. It encourages individuals and firms to continue working towards a more inclusive future for all.

Keywords

diversity

equity

inclusion

DEI

financial services industry

hiring practices

workplace culture

compensation transparency

networking efforts

cultural diversity