Research suggests positive correlations between diversity and bottom line results including revenue, productivity, and employee engagement. A successful diversity and inclusion (D&I) strategy provides a structured approach that leads to an enhanced work environment.
2. www.nicsa.org
Moderator:
Jim Evans, Senior Human Resources Manager, Capital Group
Panelists:
Kathryn Burdett, Head of Diversity & Inclusion, Americas, Deutsche Bank
Michele Meyer-Shipp, Vice President and Chief Diversity Officer, Prudential
Financial, Inc.
Sally Pace, Senior Vice President, Marketing and Communication, FTN Financial
Darryl Smith, Associate Client Partner, Korn Ferry
3. www.nicsa.org
Our philosophy on sustainable diversity and inclusion
Embedded
into talent
systems
Shared
responsibility
Grounded
in the
business
Globally
framed,
locally driven
Contemporary
Sustainable
diversity &
inclusion
4. www.nicsa.org
Korn Ferry D&I Maturity Model
The road to best-in-class: whatâs current state and your desired state?
Characteristics
Stage 1: Foundation
Compliance Driven
Stage 2: Awareness
Values Driven
Stage 3: Talent
Strategy Integration
Talent Performance
Driven
Stage 4: Operational
Strategy Integration
Internal Operations Driven
Stage 5: Market And
Sales Strategy Integration
Market Strategy Driven
Premise
Based on representation:
quotas/narrow target
goals
Based on moral imperative:
âThe right thing to doâ
D&I recognized for
generating high performing
work teams
D&I seen as enabler to
broad business strategy
D&I seen as enhancing
marketplace competitive
advantage
Definition of
Diversity/
Diversity Focus
Narrow definition Broad definition Defined by intersectionality
Definition broadened to
include operational
disciplines
Definition broadened to
include concepts in
marketing and sales
disciplines
Responsibility Compliance department Human Resources CDO and HR
Broadened to include
operational process owners
Executives and senior
leaders
Leadership
Involvement
No or little leadership
involvement or
commitment
Leaders accept some
responsibility for D&I
Leaders have D&I goals
and accountability
D&I seen as an essential
leadership competency
Line leaders are key D&I
change agents
Business Case None
Awareness that diverse
talent may be a benefit to
organization
Business case for D&I
clearly articulated
D&I seen as asset and
catalyst for innovation
D&I enhances business
growth and profitability
Measurement
Strategy
None or based solely on
litigation avoidance.
Metrics based on corporate
values indices or existing
talent engagement
processes
Metrics capture talent
growth and learning and
key talent lifecycle
processes
Metrics focus on culture
change and leadership
impact
D&I outcomes regularly
evaluated for ROI impact
across all business lines
Resources/
Staffing
No or few dedicated
resources
Dedicated staff and budget
Additional resources
distributed throughout HR
Additional resources
distributed throughout
operational functions
Additional resources
distributed throughout
marketing, R&D, and
customer service functions
Approach Reactive approach Inspired approach Visionary approach Operational approach Sustainable approach
5. www.nicsa.org
FTN Financial
Philosophy / Vision / Strategy
Philosophy Vision Strategy
Focus on three distinct elements of
diversity and inclusion â
⢠the workforce
⢠the workplace
⢠the marketplace
By leveraging each of these, we will
build a culture that fosters innovation
and maximizes business results.
⢠Commitment to continuous
improvement in creating and
sustaining a diverse and inclusive
workforce.
⢠Dedication to the goal of meaningful
diversity and inclusion at every level
of the organization, particularly at our
four highest levels of leadership.
⢠Lead the way in searching for and
providing professional and personal
growth opportunities to employees,
customers and partners.
⢠Workforce â
1. Recruitment, development
and advancement
2. Leadership and
accountability
3. D&I engagement
⢠Workplace â
1. Vision, strategy and business
case
2. Infrastructure and
implementation
3. D&I education and training
4. Assessment, measurement
and research
⢠Marketplace â
1. Community, government
relations and social
responsibility
2. Supplier diversity
6. www.nicsa.org
FTN Financial
Best Practices
Strategy
Workforce ⢠Senior leadership views managing D&I as a core responsibility and
to driving business results
⢠Company actively participates in predetermined, high impact
promote D&I internally and externally to a variety of groups
⢠Reward and recognize D&I Champions for their commitment
Workplace ⢠Develop a diversity and inclusion office and name a Chief Diversity
to focus on the implementation of ongoing D&I efforts
⢠Establish a resource library, cultural awareness, skill-building
education
⢠Diversity Council, and Employee Resource Groups provide
leverage and implement diversity and inclusion best practices
Marketplace ⢠Encourage employees to volunteer time and ideas to the community
⢠Identify opportunities for MWDVBEs (Minority, Women, Disabled
Business Entrepreneurs) to participate in competitive bidding
promote business development
7. www.nicsa.org
Deutsche Bank
Philosophy / Vision / Strategy
Philosophy Vision Strategy
⢠An inclusive and diverse organization
impacts the workforce, workplace
and marketplace
⢠Deutsche Bank is committed to an
inclusive culture that respects and
embraces the diversity of employees,
clients and communities.The Bank
aims to attract, develop and retain
the most capable employees from all
cultures and countries, and of all
ethnicities, races, genders, sexual
orientations, abilities, beliefs,
backgrounds and experiences.
⢠Emphasize the strong business case
to support a diverse workforce and
inclusive culture
⢠Taking D&I to the next level:
Embedding D&I in all people-related
related processes and transferring
ownership from HR to the business
business
⢠Successfully embedding D&I requires
a multi-channel approach:
⢠Employee Engagement
⢠Regional Leadership
⢠Global Leadership
⢠Franchise Communications
8. www.nicsa.org
Multi-Channel Approach
at Deutsche Bank
Channel Areas of responsibility
Global Leadership ⢠Aligns to Deutsche Bank business strategy
⢠Underpinned by workforce planning
⢠Embeds inclusive people processes to optimize results
⢠Leaders are fully accountable vs. delegating to passionate individuals
Regional Leadership ⢠Champion workplace inclusion and related initiatives at the local level
⢠Influences daily work environments
⢠Considers local culture/demographics in workforce planning
Employee Engagement ⢠Accelerating workplace inclusion through grassroots channels
⢠Strategic areas of focus for grassroots efforts reinforce the business case for
inclusion
Franchise Communication ⢠Sharing success stories, role models, and providing inspiration
⢠Impact on workforce, workplace, marketplace
Human Resources ⢠Supports decision making through robust franchise-wide D&I workforce analytics
⢠Suite of standard toolkits/best practices
⢠Key external relationships and competitor intelligence
⢠Regional expertise & advice including regulatory requirements
⢠Dissemination of research & new thinking
9. www.nicsa.org
PRUDENTIAL
PHILOSOPHY / VISION / STRATEGY
ACCOUNTABILITY AND MEASUREMENT
To track progress, we set clear accountabilities, goals, and long- and short-term measures of success
LEADER COMMITMENT AND ADVOCACY
Our Senior Leaders own the diversity and inclusion strategy and demonstrate their clear, unambiguous
commitment through their words and actions
PEOPLE
We aspire to excellence in
Diversity & Inclusion and
believe that success is closely
linked to our ability to make
Prudentialâs talent a source of
strategic differentiation
MARKET
We seek to understand and take
full advantage of the business
opportunities for marketing to
diverse customer segments
COMMUNITY
We are committed to advancing
Diversity and Inclusion with our
business and community
partners
⢠Representation
⢠Inclusion
⢠Culture and climate
⢠Talent sourcing and
development
⢠Multicultural marketing
⢠Advertising and public
relations
⢠Niche products
⢠Supplier diversity
⢠3rd-party asset managers
and minority banking
⢠Impact investing
⢠Philanthropy benefitting
underserved communities
10. www.nicsa.org
D&I BEST PRACTICES AT PRUDENTIAL
CULTURE
Leadership
Accountability
Culture &
Inclusion
Commitment
from the Top
Recruitment Strategies
⢠BRG Refer-A-Friend Program
⢠Talent/Work
Groups/Councils
Professional Development
Programs for Women and PoC
⢠UCLAâs Multidimensional
Leadership Program
⢠Transformational Leadership
Program
Leadership Actions
⢠CEO and direct reports
keep D&I in the forefront
⢠7 BRG Executive Sponsors
drive D&I strategy
D&I Events
⢠First ever Top 50 Global
Womenâs Forum
⢠D&I Town Hall Meeting
D&I Reporting
⢠Bi-Annual business unit
level D&I reporting
⢠Business unit level talent
councils
Boards & Councils
⢠Prudential of Japanâs
President personally
chairs their Diversity
Advisory Board
⢠Early Derailment & Stay
Interviews
D&I Education
⢠Appreciating Differences
⢠Unconscious Bias to
Conscious Inclusion
D&I Awareness
⢠Count Me In!
⢠BRG Professional
Development Conference
⢠Value of a Veteran
⢠Gender Continuum
Clear D&I
Goals
Diversity & Inclusion updates from business units and functional areas indicate that Prudential has strong best
practices across leadership and talent ecosystems focused on driving strong and sustainable results