Virgin Money’s Post

🚀 Embracing Socio-Economic Diversity in Finance 🚀 In the UK financial services sector, socio-economic background often plays a more significant role in one's career trajectory than gender or ethnicity. This revelation underscores the critical need for organisations to emphasise socio-economic diversity to foster a truly inclusive environment. Organisations that take active steps to promote progression and retention of individuals from diverse socio-economic backgrounds are setting themselves up for broader success. Not only does this benefit individuals, but it also paves the way for improving other essential areas of diversity. By levelling the playing field, firms can ensure that their leadership truly reflects the society they serve, leading to more innovative and holistic decision-making. At Bruin we are excited to share our next event, a panel discussion and networking drinks, hosted by BNY, with our partner Progress Together, a membership body that focuses on senior level socio-economic diversity, progression, and retention in the financial services sector. PANELLISTS: • Michael Turner, NED at Progress Together, former CEO at Man Solutions • Natalie Jameson, Senior VP EMEA Region at BNY • Mandy Beech, Director of Retail Services at Nationwide An event not to be missed 👀 Please drop me a DM or message me at claire.turpin@bruinfinacial.com to reserve your place. #bruin #Diversity #leadership

“Powerful voices may be loud – but bottom lines speak volumes…Beyond a show of solidarity, these #DEI programmes proved to be a boon for positive #publicity and resulted in the creation of #jobs: in 2021, the first year after the Black Lives Matter protests, companies listed on the S&P Global 100 added more than 300,000 jobs – 94% of which went to people of colour. The initiatives were also successful for business itself: in 2022, McKinsey & Company reported that companies with robust DEI programmes were better able to respond to challenges, win top #talent and meet the needs of different customer bases… DEI boosts the bottom line for many companies, according to both experts and #data. #Research shows major firms with women and people of colour at the helm outperform their homogenous peers. A 2020 McKinsey & Company analysis of 1,000 US firms showed companies with more gender #diversity within their #leadership teams were 25% more likely to have higher profits than their peers who did not. The report also showed companies with the most ethnic and cultural diversity achieved 36% higher profitability than companies with a less diverse C-suite… Domestically, as the population of the US continues to rapidly diversify, the demographics of American workplaces will change as well, says Gisele Marcus, professor of practice in diversity, #equity and #inclusion at Washington University in St. Louis. Companies that actively engage a diverse pool of talent now will be the most nimble in the future, she says… A Morning Consult survey released in January showed 82% of #business executives think diversity initiatives are critical to their business strategies, and 67% said they expect these efforts to become more important in the coming years. The survey also showed nearly 1/2 of executives said their primary reason for implementing diversity initiatives is to ‘improve business performance’, acquire better talent (43%) and increase #creativity (38%). Only 2% of business leaders surveyed said such initiatives aren't important…. A December 2023 survey of nearly 200 US chief human resources officers from The Conference Board showed none of the respondents planned to reduce their DEI initiatives, policies or programming. Nearly 2/3s expect to focus their efforts on attracting diverse employees. Yet some companies are still walking on eggshells as the environment remains hostile. Marcus says firms may not discuss DEI work as openly, and may instead be quieter about financial commitments to DEI work, or drop the terminology altogether. Ultimately, however, experts are confident efforts will keep going – even if they're labelled something else, or nothing at all.” All excerpts by Tatiana Walk-Morris in the BBC article below. #investing #leadership #boardsofdirectors #assetmanagement #wealthmanagement #fiduciaryduty #economy #money #cultureofmoney

To celebrate National Inclusion Week (starting 23rd September), I had the privilege of organising and moderating two “Daring” Conversations on neurodiversity for Rabobank London and Global Markets colleagues, in my capacity as Chair of RaboTogether (ERG). I was delighted to welcome our guest speaker, Anna Delves from Simply Business, along with colleagues Bianca Walker, a software engineer, and Lee Holloway, a CDD analyst. We explored how understanding neurodiverse colleagues can help employers better support them and maximize their contributions as well as explore the support employers can provide to parents/carers of neurodivergent family members. The conversation was open and insightful, covering their experiences from diagnosis to how neurodivergence affects them in the workplace. The hour flew by and we didn’t have enough time to answer all the questions from our audience! Here are some key points we covered: Importance of Diagnosis: This helps neurodivergent colleagues understand themselves, provides legal protection, and enables workplace adjustments. Diverse views: Some see neurodiversity as an invisible disability, others do not. Work life-cycle: Employers should create an environment where staff feel safe disclosing their neurodiverse characteristics and provide appropriate adjustments. A "one-size fits all" doesn't work! Innovation: Neurodivergent thinking often leads to valuable innovation. Anna explained that many neurodivergent people don't have an “auto-pilot,” making simple tasks like making a cup of tea exhausting . Bianca shared the energy it takes to mask her ADHD and that sometimes she can even forget to eat. Lee talked about how his diagnosis helped him get the correct workplace adjustments, with yellow being his helpful colour for day-to-day tasks. A HUGE thank you to Anna, Bianca, and Lee for their time, energy, and contributions - you are amazing! Thanks also to Jeremy Perl for your continued support of DEI and Tyrone Tsikata for being my “roving reporter” for the Q&A. The feedback from participants highlights the importance of creating “safe spaces” to facilitate these dialogues and share knowledge. Ultimately, I hope that better understanding leads to better collaboration and fosters a more inclusive workplace environment. Apologies for the quality of the picture! #Rabobank #GABWT #DEI #Neurodiversity #DaringConversations #NationalInclusionWeek

DEI & ESG are not dead. Companies who manage their people well, have diverse leaders (especially women) and care of the environment are companies that do well. They don’t put a label on their work because they don’t need to and because it distracts from the work that they are already doing. Those companies that made a big deal about their DEI initiatives, and have since scrapped their programs are the ones that were doing a check-the-box exercise. Financial services is such a good example of this. A lot of the big firms talk a good game when it comes to DEI but at the end of the day they still concern themselves more with that 75% of the population that they feel drives the industry. But if you put all of the people who have intersections that make them an other in the industry (including those who are part of that 75%), we are a majority. And those big entities will start losing people. They are doing the same as they’ve been doing but if you add in the production of the historically underrepresented, that’s the icing on the cake. Overtime this will shift because it has to. The old system is not sustainable as the old school age out. The industry has been talking about the great wealth transfer as it is going to come any day now. I believe it’s been quietly happening for the past few years. As always, Samantha Katz, thanks for sharing this article and your thoughts!

I came across an unanswered question about #dei and corporate culture on a chat board like Glassdoor or Fishbowl that inspired me to delve into a topic new to my usual scope on #linkedin It spoke to the pressing need for #rewiringDEI. How can organizations effectively attract and retain diverse talent while navigating the creation or overhaul of a robust DEI strategy? Such cultures often unintentionally isolate individuals, leaving them siloed, excluded from the legacy definition of a 'traditional mold'. Further, in a society that glorifies hustle and #grit, it's vital to question whether this narrative truly benefits everyone in a #DEIdeprived system. The concept of hustling, often tied to economic opportunity, can sometimes perpetuate inequality, as highlighted in this Time Inc. article on the #gigeconomy. time.com5783869gig-economy-inequality/ I trust that my network will demonstrate the inclusive side of the corporate world by sharing your responses. Jennifer Tescher, your recent podcast featuring Greg Cunningham, MBA inspired this post and hashtag. Thank you for my experience at The Financial Health Network and pushing me to refine my voice in articulating social impact and Corporate Social Responsibility issues for #financialhealthforall. A special 👏👏 to each client in my portfolio and this group of humans who made me better every day: Sarah Gordon Adeeb Mahmud Marisa Jackson Walster Meghan Greene Melissa Williams, SHRM-CP Fawziah Bajwa Mary Katherine (MK) Falgout Lindsay Ferguson Ashley Hannon Mia Barricini Matthew Bahl To Andrea Galvez, MBA and Beth Brockland my gratitude to both of you. A few more discussion-provoking highlights and again, subscribe to Jennifer's podcast! ↪️A series C startup focused on parity appointed a new Chief DEI Officer due to high demand for BIPOC leadership. Interestingly, an interim white executive briefly led the initiative, and currently, they lack a dedicated DEI division. ↪️"By mid-2023, DEI-related job postings had declined 44% from the same time a year prior, according to data provided by job site Indeed (www.cnbc.com › 2023/12/22 ↪️impactful statistics and insights on increasing equity in corporate America: https://lnkd.in/e7umAzY9 #inclusiveleadership #inclusiveworkplace #inclusivehiring #representationmatters #disabilityinclusion #neurodiversityatwork #openforwork #hiring #recruiting #banks #creditunions #fintechs #startups #clientexperience #friday #socialimpact #corporatesocialresponsibility #toxicworkplace #customersuccessmanager #youngprofessionals #culturematters #financialinclusion #advocacy https://hubs.li/Q02l1zFx0 Rewiring How DEI Gets Done

Sarita’s journey is highlighted by the "Investing in You" workshop, which she co-hosted, receiving positive feedback and motivating others to participate. She attributes her success to the incredible support from her DEI Team and colleagues, proving that teamwork makes the dream work. 🙌🤝 Her advice for others is straightforward: 💬 Speak to those already involved in DEI initiatives and connect with external stakeholders to learn from other companies. 📅 Attend events, get involved in organising, and participate in presentations. 🔗 Join LinkedIn groups related to DEI for more insights. Sarita’s message is clear: DEI isn't just a policy or a box to tick. It’s a commitment to creating a workplace where everyone can thrive. 🌈 #Diversity #Equity #Inclusion #WorkplaceHero #EthnicityAwards #REACHCommunity #TeamBuildingWorkshop Sarita Bassi BA Hons, UCPD, MHFA, CMI Accredited Tarmac https://bit.ly/4do1tcA

Let's speak the unspoken: Diversity and Inclusion conversations are neither Diverse nor Inclusive. I want to tell you a story about my book club. Our group of 6 has been meeting for years. We're great friends who have great conversations (that sometimes even include a book). A few months ago, our discussion turned to D&I, specifically through the lens of race, and as always, it was lively. Except that the people of color were the only ones talking. Our white friends barely said a word. The same thing happened the next time race was the topic. And that made those of us who’d inadvertently been dominating the discussion curious. It took a beat for our usually bold friends to open up, but here’s what we learned: They weren't comfortable speaking up. Even though they, like us, had experienced the trauma of being treated as Outsiders in their own contexts, they assumed their experiences were less relevant and didn't want to compare them unfairly to ours. They were also mindful of recent messages that people with privileges they did not earn should spend more time listening than talking. So they were listening and learning—silently. And the conversation suffered. My friends’ humility, respect, and commitment to learning didn’t surprise me. That's who I know them to be. But it broke my heart that they didn’t feel they had the right to participate even in a group as safe as ours. That they felt like their stories and experiences somehow mattered less than ours. They aren’t the only ones feeling this way. All around us, including in companies where I coach leaders and teams, there’s a disturbing trend that doesn't get talked about enough. Diversity and Inclusion conversations are neither Diverse nor Inclusive. Entire populations—even people like my book club friends who recognize their privilege and want to learn—are being shamed and silenced, homogenized and typecast, even canceled for saying the wrong thing. Two wrongs don’t make a right. Morally and pragmatically, we can’t afford to fight shame with shame like we’ve been doing. After a groundswell of support and investment following the tragic events of 2020, corporations are already deprioritizing D&I again. →Budgets are being slashed →Job postings dropped 63% from 2022 to 2023 →Many companies, including category leaders, are seeking safer,smaller conversations And employees are losing heart too. While 52% are satisfied with Diversity efforts at their company, only 29% feel truly Included. Look: We can’t afford to let this beacon of hope be written off as a set of woke buzzwords and compliance checklists that no longer merit serious corporate investment. And that’s exactly what’s going to happen if ALL of us don’t come together to have a different kind of conversation. It’s in our collective interest to make Diversity and Inclusion more Diverse and Inclusive. And like in our book club: Only the people who have a voice in these crucial conversations can make them truly Inclusive.

Meet Corey Lee (Capital One Commercial Bank), Erinn Corbett-Wright, MS, CPC (Salesforce), and Ken O. (Checkr, Inc. Foundation)—corporate Changemakers leading the charge for racial equity. Our in-depth discussions with them reveal three key factors in fostering racial equity: access and career advancement, mentorship, and culture. Explore how these factors can drive positive change in your organization—their insights provide a roadmap to making a meaningful impact. 

After five years working to transform Capita into a purpose-led, inclusive, ESG-positive and employee-focussed organisation, it’s now time to take some time out with my family before looking at new opportunities in 2024. When I joined Capita in 2018 I couldn’t have anticipated the rollercoaster ride that lay ahead. I will forever be grateful to Will Serle for taking an initial chance on me - and then continuously expanding my remit - to the many wonderful Executive Committee and People Leadership Team members (current and past) who have worked alongside me to do business better, to the Board ESG sub-committee for the opportunity to work at PLC board level and Scott Hill for letting me hold the reins as a regular deputy Chief People Officer. I am very proud of everything my incredible team has achieved, but particularly of the significant #ESG index improvements, the 10% improvement in the median #genderpaygap, the progress toward our SBTI-approved #NetZero target, the 20 point-plus improvement in global #employeeengagement, the major contracts we’ve won based on #socialvalue, our award-winning #diversityandinclusion mentoring programmes, the impact of our global employee network groups - and I can’t skip being named by Forbes as number 18 on the global list of top employers for women - a moment that was testament to years of consistent decision-making. Looking forward I am most excited by three things. Firstly, the fact that #purposedriven business is becoming so much more common in industry. I truly believe being purpose-led and ESG-positive helps business and industry to achieve better outcomes in terms of profit, society and employees, and I will work to keep proving this. Secondly - the increasing understanding of the role people and #culture play in business success. Research shows us that when a business consistently creates an engaging, equitable and inclusive environment - business flourishes. I will keep pushing for great employee experiences for everyone, while focussing on the removal of discrimination, bias and prejudice. Finally, I am excited by #GenAI While I strongly believe we must ground our technological choices in ethics and inclusion, when we do this right, I think AI has the potential to unlock, empower and enable us - as humans - to do our best work. For many of my former colleagues at Capita, I am aware this is a time of significant change for you. If you’ve worked with me and you need a recommendation, a CV review or any career advice - please reach out. A leader is only as good as the people who believe in their vision - and it has been a privilege to live my vision with so many of you for the past five years. There are far, far too many people to tag in thanks in this post, so I've dropped some thank you names in the comments. I know there are many more of you who have shared this journey with me so far - so please do stay in touch - and let’s all of us keep doing the work to make business a force for good.

Today, I'm feeling grateful as I step into a pitch meeting with a new client. Walking alongside individuals and organizations on their journey towards equity and inclusion is truly sacred work. Witnessing deep shifts in mindset and ideology is what makes it all worth it. Savoring the good stuff today #grateful #equityandinclusion #mindsetshifts #goodjobs #livingwages