Challenge
The CEO of a midsized asset management firm was seeking to develop a more diverse and inclusive environment within his organization. Through conversations with colleagues, he and others recognized that business in general had made progress in diversity hiring, but that the financial services industry as a whole had room for improvement. In reviewing his own staff, he felt that they were too homogeneous in both thinking and experience. As a courageous leader, he wanted to be on the forefront of change, but knew that he may be met with some pushback as many of his executive team members were not aware that a diversity challenge existed. To initiate the conversation, he engaged CCI for guidance and support.
Solution
CCI partnered with the firm’s HR team to develop a customized program that began with leadership alignment. DE&I consultants facilitated sessions with leadership team members to create a shared understanding of what diversity and inclusion meant for their organization as well as providing education on the impact of unconscious bias. They helped them to create a vision for a diverse and inclusive culture accompanied by a strategic action plan that addressed acquiring, retaining, and advancing diverse talent. The educational component was then cascaded down through the organization, first to all people leaders followed by the remaining employee population.
Results
The CEO and leadership team expressed that for the first time, they had a unified vision and path forward for diversity, equity, and inclusion at the company. The feedback from the people leaders was equally strong with 93% of attendees stating that they were better able to identify obstacles that might interfere with their performance in this area. In alignment with the strategy, the company established a diversity council who has been charged with developing innovative ways to advance their new DE&I agenda. They are also currently updating recruiting practices and establishing guidelines to remove bias from the interviewing process. The client commented that they appreciated CCI’s style and approach to this sensitive topic which enhanced receptiveness to the crucial and timely change.
