Is belonging, dignity, and justice a new way forward in DEI? According to the World Economic Forum, it could be.

Hello and welcome to the November instalment of the Berkeley Croft newsletter.?

We use this platform to take a deep dive into crucial topics in our industry, looking at a variety of opinions and perspectives.?

Here’s what we’re covering:?

1. The World Economic Forum’s theory of belonging, dignity, and justice
2. A comprehensive look at DEI in asset management
3. A DEI checklist to help businesses reach their DEI goals

If you’d like to discuss tackling certain challenges within your own team, don’t hesitate to get in touch with us today.?

Belonging, Dignity, and Justice - a new way forward?

Is DEI becoming all about buzzwords and vanity metrics? Are we working towards true change or are we simply trying to appear more progressive to the outside world?

At the beginning of last year, the World Economic Forum questioned whether it was time to move on from DEI and try a different approach. This approach is called “belonging, dignity, and justice”.?

• Belonging, dignity, and justice sets out to dismantle racism, dehumanisation, ableism, and sexism in the workplace through empathy and understanding.?
• It’s not about setting goals and milestones and ticking boxes. Instead, it’s about upholding these principles and creating a space for marginalised people that focuses on their humanity rather than following strict corporate guidelines.?
• DEI strategies often start with action items, whereas belonging, dignity, and justice looks inwards and assesses whether these values are present in the organisation and if not, what can be done.?
• It’s about having meaningful conversations that lead to a change in mindset, opening up the organisation to more diversity and inclusion in a natural, holistic way.?
• Belonging, dignity, and justice doesn’t centre around ROI. It’s not about statistics that show improvement in performance or studies that prove more diversity equals better outcomes. Rather, it’s about putting human beings at the centre of the organisation and valuing their feelings of belonging, dignity, and justice.

What are your thoughts on belonging, dignity, and justice? Is it the new way forward?

Read more: Belonging, dignity, and justice - a better approach to D&I in asset management?

A comprehensive look at diversity in asset management

The asset management industry isn’t as progressive as it could be. This can be changed by rethinking how we approach diversity and recruitment.?

Here’s what we’ve seen others do to improve DEI in the financial services space:

• It’s not enough to simply talk about diversity, however, all good strategies start with conversation. It’s crucial to openly discuss diversity goals and be honest about results.?
• Leadership in asset management organisations need to take charge of DEI strategies, this change needs to come from the top.?
• DEI strategies should be living documents that grow with the organisation, changing as needs evolve.?
• Diversity needs to remain on the agenda. It’s important that the topic doesn’t fade away over time and that DEI is constantly discussed and assessed.?

Read more: Diversity in asset management - everything you need to know

A DEI checklist to help businesses reach their diversity goals

Most people already know that a comprehensive diversity and inclusion strategy is crucial to their organisation’s success.

The question is: how do businesses realistically reach their diversity goals? What practical steps could they take to get where they want to be? That’s what our Diversity Checklist is all about - helping leaders make the right decisions to improve diversity, equity, and inclusion within their business.?

We take an in-depth look at:?

Candidate attraction?

• How to create inclusive job ads
• Using blind CVs to limit unconscious bias
• Investing in employer branding
• Making use of current employee network

Employee retention

• Organising employee advocacy groups
• Effective onboarding
• Creating career roadmaps
• Mentorship programmes?

Sustainable practices

• Improving candidate experience
• Strategically prioritising diversity?
• Collaborating with key organisations

Download our full Diversity Checklist?

If you have any questions or would like to discuss any of the points above, don’t hesitate to reach out to us.?

Speak soon,?

The Berkeley Croft team?