How Finance Teams Can Drive A Companys Diversity, Equity And Inclusion Journey

How Finance Teams Can Drive A Companys Diversity, Equity And Inclusion Journey

Lori Winger is Vice President and Chief Financial Officer of CUNA Mutual Group .

In the past, many companies have considered Diversity, Equality, and Inclusion (DEI) as a particular HR priority. To make the workplace and industry more inclusive and equal, companies need to put DEI at the heart of their culture. And given its company-wide impact, the funding is well-positioned to play a critical role in the company's journey to expand DEI's internal and external efforts. Whether it's attending DEI training, sponsoring community partners, or hiring a consulting firm to help make your industry more inclusive, finance departments can increase inventory in a variety of ways.

Continuing education and quality training is critical to driving growth and promoting DEI as a strategic business priority. Foundational programs can promote the benefits of a more inclusive and equitable workplace, remove common barriers to success, and offer practical steps to create a culture of inclusion. Based on these foundational lessons, additional training can help employees better understand the importance of presence in the workplace and help to see a diverse workforce at its best, which ultimately has a positive impact on overall organizational performance.

In our work, we believe that DEI should be built on our “built, not bent” strategy. DEI conferences are often part of regular meetings or stand-alone presentations. Partnering with the Employee Resources Group (ERG) for networking, mentoring and professional development is another way financial services supports the diversity, growth and career development of the workforce. For example, our representative team has worked with our company's ERM and talent acquisition teams to provide training and feedback to recruitment teams to facilitate recruitment, screening and onboarding processes. Broader Recruitment. The DEI is not just about education and training; It should be part of our daily life and at the forefront of our decision-making.

See also  The World Bank And IMF Want To Rethink Climate Finance

The financial services sector has traditionally not reacted very sensitively to demographic changes. Obtaining the necessary education and obtaining a license to work in the finance function is complex and often time-consuming. It should be an important part of an organization's DEI program to ensure that financial services reflect the demographics of the people the company serves.

We have found that working with a consultant can help lower entry barriers for young professionals and create a more robust workflow. In finance, for example, many black technical schools, colleges and universities (HBCUs) and Hispanic Service Agencies (HSIs) do not have the courses or infrastructure to attract talent to jobs.

Mutual initiatives or partnerships with national organizations that offer higher education can help open the profession to a diverse talent pool. This partner program offers tangible resources that can help professionals at every stage of their journey, from candidates (e.g. mock interviews and resume reviews) to managers (e.g. coaching and mentoring).

Community partnerships are important pillars that create lasting benefits in the workplace, markets and communities that the company serves. Partnering with underrepresented residents and business groups is important because investing in your community invests in your talent pool while benefiting the communities around you. Funding local schools is another way the Treasury Department helps local communities while cultivating a talent pool that increases the diversity of job applicants. STEM courses in particular must be funded.

By implementing a comprehensive and thoughtful DEI program with your finance team, you can put the future education of your employees and your company at the forefront of your decision-making process. I believe it will help you better serve your customers, increase employee engagement, and improve productivity and retention rates.

See also  Pakistani Finance Minister Sees Gradual Recovery From Floods

Forbes Financial Council is an invitation-only organization for executives of successful accounting, financial planning, and wealth management firms. Am I eligible?


Two steps anyone can take to lead in compositional inclusion and diversity TEDxLecture

Leave a Comment