Advice from the C-Suite was flowing throughout Nicsa’s Fearless Leadership Symposium in NYC this June. Here's a summary of the key action items for participants to take to their own firms to advance Diversity, Equity, and Inclusion (DEI):
Key Action Items and Takeaways:
- Get Involved in Business Resource Groups (BRGs):
- BRGs for underrepresented communities are highly beneficial and provide opportunities for networking, learning about others' challenges, and discovering ways to help. BRGs facilitate deeper connections and understanding among employees.
- Mentor and Sponsor:
- Mentorship is crucial, with leaders encouraged to mentor multiple individuals. Sponsorship involves actively advocating for the career advancement of mentees. This progression helps build a robust support system within the organization.
- Engage in Community Activities:
- Engaging in community volunteer activities is deeply enriching and essential for promoting DEI. This involvement helps employees connect with their communities and understand diverse perspectives better.
- Integrate DEI into Daily Work:
- DEI efforts should be integrated into daily work and professional life rather than seen as additional tasks. Making time for DEI activities can be challenging, but it's important to find ways to naturally incorporate them into regular routines.
- Establish Listen Groups:
- Creating formal "listen groups" where senior leaders participate to listen and support employees is beneficial. These groups provide a safe space for employees to share their experiences and challenges, promoting understanding and empathy among leadership.
- Promote a Culture of Inclusivity:
- Inclusivity is promoted through the support and resources provided by affinity groups and listen groups. These initiatives help create a culture of common interest and learning, enabling employees to appreciate and embrace differences.
- Learn and Adapt:
- Difficult societal events have prompted organizations to create opportunities for leaders to listen and learn from employees' experiences. This openness helps leaders understand the diverse perspectives and challenges faced by their workforce.
A set of personal To Do’s Include:
- Know your data; understand what metrics your firm is measuring.
- Lead with transparency; share your goals, successes, and obstacles.
- Meet people, businesses, and clients where they are; bring them along on the journey if they are willing.
- Don’t be daunted by the task.
These are just some of the quick take-aways heard at this year’s Fearless Leadership Symposium. The annual event unites industry leaders to accelerate DEI in the Asset & Wealth Management Industry. The event is hosted by Nicsa’s Diversity Project North America.
For more DEI content, visit learn.nicsa.org/DEI
About Diversity Project North America
The Diversity Project North America is Nicsa’s cross-company initiative that champions DEI as a strategic business priority within the asset and wealth management industry.
Through education, advocacy, and idea sharing, we promote the acceptance of diversity in all forms, the elimination of barriers and biases, and the creation of equitable opportunities.
We advance better business results for our member firms and positive long-term impact for the clients we all serve by fostering an industry where diversity is achieved, equity is the standard, and inclusion is celebrated.
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