How to access if an organisation’s commitment to DE&I is authentic

Recent news reports suggest that some organisations are letting Diversity, Equity and Inclusion (DE&I) fall down their list of priorities or treating DE&I as a tick box to be completed and then left off the agenda. Promisingly though, there are many businesses out there striving to do better, that value the importance of an ongoing commitment to DE&I and ensure it remains a key priority across their organisation. The question is: how can you identify whether an employer genuinely values DE&I and proactively creates an open and welcoming environment?

In this article, I’ll draw on findings from our latest Diversity, Equity and Inclusion (DE&I) Report, in partnership with FAIRER Consulting, which received responses from over 700 finance employers and professionals across the UK, to explore the green flags that suggest an organisation has an authentic commitment to DE&I.

Transparency when it comes to DE&I

It's a good idea to reflect on how open and honest an organisation is about where the responsibility for DE&I sits within their company and what plans they have for improving their commitment in the future.

According to our research, well over half (57%) of finance professionals actively look for an organisation’s diversity and inclusion policies and commitments when researching a potential employer.

Whether you want to find out about a company’s DE&I initiatives, metrics or credentials, this kind of information should be accessible on their website, typically on the ‘About Us’ page. You can also read between the lines to discover evidence of an organisation’s commitment to DE&I, such as looking at whether the photos of their employees showcase a wealth of backgrounds. You can also check out their social media profiles, such as LinkedIn, to see if you can get a feel of their DE&I commitment through these platforms.

However, over a third (39%) of professionals working across the finance sector say it is difficult to find this type of organisation-specific diversity and inclusion information when researching prospective employers. Ultimately, organisations with a strong sense of purpose and values are likely to be more transparent about these factors, making it easier to familiarise yourself with their morals and accurately assess whether your values align.

It's also a good idea to reflect on how open and honest an organisation is about where the responsibility for DE&I sits within their company and what plans they have for improving their commitment in the future. Our research shows that over a third (35%) of finance organisations have a dedicated DE&I resource. In terms of what their DE&I resource looks like, close to half (45%) have a dedicated team, 35% have a Head of DE&I or a Chief Diversity Officer and just over a quarter (27%) have a DE&I manager. If this information is readily available, and an interviewer is comfortable discussing their DE&I resource for instance, this points towards an authentic commitment to DE&I.

Inclusive hiring practices

There are so many ways employers can adapt and evolve their hiring practices and job application process in order to eliminate bias.

According to our research, more than half (54%) of finance professionals say there has been an occasion where they felt that their chance of being selected for a job was lowered because of an identifying factor such as age, gender or gender identity and ethnicity or nationality.

There are so many ways employers can adapt and evolve their hiring practices and job application process in order to eliminate bias - the challenge is to find the organisations that have taken this important step and incorporated their commitment to DE&I into their recruitment stages. As such, over half (53%) of professionals say if they were to apply for a new role, knowing that an employer uses anonymised recruitment in their selection process would give them more confidence that they will be fairly considered.

An appealing company culture

Be sure to ask an employer questions about their company culture to paint a picture of what it’s like to work there, but also look beyond their answers as arguably actions speak louder than words.

Finance professionals believe greater diversity and inclusion could have the most positive impact on an organisation’s company culture (74%), followed by their recruitment (40%), employee morale (34%), company reputation (33%) and retention of talent (30%). Evidently, DE&I and company culture are intertwined and can really shape your experience at a particular organisation. Over half (52%) of finance professionals have previously resigned from a job because of a bad cultural fit, saying they felt disengaged due to a lack of shared values, vision or beliefs.

On top of this, more than half (54%) of professionals working across finance say there have been occasions where they felt that an interviewer had misled them in the representation of the company culture. Be sure to ask an employer questions about their company culture to paint a picture of what it’s like to work there, but also look beyond their answers as arguably actions speak louder than words.

Specific employee networks, such as a Black network, Pride network and Parents network, indicate that an employer wants to make their organisation welcoming to people from a range of backgrounds and encourages an open dialogue and support system for people from all walks of life. Similarly, an organisation’s benefits are a good indication of how much store they set by DE&I, including tailored flexible working, dedicated wellbeing policies, maternity and paternity leave, religious holidays and support for caregivers.

Final thoughts

Many finance professionals today acknowledge the importance of working for an employer that is committed to DE&I and rate this as one of the most important factors in their decision to join an organisation. The increasing awareness of the positive impact that DE&I practices have on employee morale, job satisfaction, talent attraction and retention, productivity, innovation, profitability and more means that many organisations will want to make sure it’s clearly highlighted as part of their brand and offering. The trick is knowing what signs to look for to gauge whether an organisation’s commitment to DE&I is proactive, effective and genuine.

As featured in the CICM Magazine.

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