This session of the working group on Gender D&I Strategies for the Future of Work focused on building a sustainable employee value proposition (EVP) for women. Inclusion and employee resource group leads at NatWest presented on the bank’s holistic, purpose-driven approach to attracting and retaining women employees.
A truly sustainable culture of inclusion requires a high-quality working environment in which women are valued, supported, and championed. In this Working Group we look at what makes a company culture inclusive or not, address combatting workplace harassment and bullying and hear the practitioner’s perspective from BRAC Bank Bangladesh.
In a country where fewer than 1 in 4 working-age women participate in the labor force and less than 15 of women are banked, Habib Bank Limited’s bold D&I strategy changed the company culture, multiplied the number of women in its ranks, and drove measurable business results–driving change from the inside out.
Catch our 3rd session of the Future of Work Working Group which took place on March 17.
Hear from our special guests:
– Avivah Wittenberg-Cox: renowned author, executive coach and consultant
– Carlene Clifford: Senior Lead, AXA Group Culture, Inclusion and Diversity
Download and watch how to leverage the How-To Guide: Becoming the Employer of Choice for Women
WG – Future of Work – Session 1 Slides
WG – Future of Work – Session 1 Video Recording
How-to Guide: Becoming the Employer of Choice for Women – Overview
This brochure offers a selection of insights from the Financial Alliance for Women’s How-to Guide, “Becoming the Employer of Choice for Women” which lays out the process for improving gender diversity and inclusion (D&I) in financial services firms. The information provided is based on the findings from Alliance member working groups, which explored ways to increase women’s representation in the leadership of financial services firms. It incorporates Mercer’s leading-edge research and the real-world experiences of Alliance members. Throughout the guide, emphasis is on developing a holistic women-centered strategy, blending enhanced internal gender D&I with a strong female customer value proposition so that financial institutions are better equipped to tap into the female economy, the world’s fastest growing market. The full guide is available exclusively to members.
How-to Guide: Becoming the Employer of Choice for Women
The How-to Guide for Becoming the Employer of Choice for Women lays out the process for improving gender diversity and inclusion (D&I) in financial services firms. The information provided is based on the findings from Alliance member working groups, which explored ways to increase women’s representation in the leadership of financial services firms. It incorporates Mercer’s leading-edge research and the real-world experiences of Alliance members. Throughout the guide, emphasis is on developing a holistic women-centered strategy, blending enhanced internal gender D&I with a strong female customer value proposition so that financial institutions are better equipped to tap into the female economy, the world’s fastest growing market.
Section I, Plan and Prepare, provides guidance, tools, and resources to prepare the institution for making the changes needed to become the employer of choice for women. The step-by-step groundwork undertaken in this section is essential to the overall success of the gender D&I effort.
Section II, Take Action, provides guidance, tools, and resources to implement key actions that will move forward the gender D&I strategy, putting the institution on a strong path to becoming an employer of choice for women. The actions are ordered as standalone chapters; however, they are all interconnected and work together to create an environment in which gender D&I thrives.
Section III, Monitor, Measure and Refine, provides guidance, tools, and resources to monitor implementation progress, measure results, evaluate impact, and make adjustments as needed.
BRAC Bank developed and implemented a zero-tolerance sexual harassment policy, along with setting up a secure hotline for reporting incidents. A designated team of HR leads was put in place to respond to complaints and a bank-wide awareness campaign included prominent displays of the hotline number as well as brief depictions of acceptable and non-acceptable behaviors.
Use this slide deck template for reporting to the executive committee on the gender D&I initiative. Include metrics that matter to the institution, as well as progress made—or not—on each.
After participating in hiring interviews, BLC Bank employees use this form to submit their individual feedback, thereby reducing the risk that one interviewer’s opinion and biases could influence others.
BLC Bank uses a communications template similar to this to ensure that the strategy and D&I initiatives are communicated to all stakeholders, with the relevant information and in an agreed upon timeframe.
BLC Bank uses this dashboard to generate monthly progress reports on gender D&I for its senior management team.
Use this template to outline challenges identified, actions taken to address them, and the results achieved.
Mercer’s gender D&I dashboard is embedded in its When Women Thrive research reports.
Bank al Etihad’s dashboard generates monthly reports on talent acquisition and management, learning and development opportunities, and department-by-department employee gender analysis
Use this tool, along with the key metrics and targets tools from chapters 2 and 3 to track progress against goals. Later you will re-visit this to assess impact and determine next steps.
This performance assessment template is based on objective competencies, psychometrics, and experiences relevant to a specific position. For each, managers are asked to rate the employee and employees ascribe self ratings. The assessment also summarizes the results, providing an objective overview of employee performance and a basis for conversation with the manager.
Mercer has provided this example of how to apply a competency based framework in the context of promotions, with information for candidates interested in higher level positions. It outlines the roles available to the employee, the pathways to get there, and the skills required.
Mastercard uses this Development Card for employees and managers to outline future goals and develop a plan to reach those goals. It provides for a transparent conversation and clear next steps.
Mercer developed the Career Development Plan card to encourage employee self reflection and open conversations with their managers. These conversations help determine the employee’s next steps and clarify what is needed to reach these next steps. The manager can offer support and advocate for their success.
Lebanon’s BLC Bank uses a competency-based approach for interviewing candidates for jobs. This guide helps the interviewing teams ask the right questions and stay on track with what matters to the bank and to the candidate.
Identifying elements of a value proposition that will have the most impact for women employees involves a bit of brainstorming. It also involves mapping potential policy additions with the resources needed and potential results they would yield. Some policy changes might be simple to do, creating some quick wins, while others might require more effort, but offer the promise of broader and deeper impact. Here is a template to help with this process.
Meetings are where decisions are discussed. Meetings are also filled with behaviors that can make participants feel included or excluded. HR can develop resources that will encourage managers and other leaders to use inclusive behaviors. This checklist is an example of a manager resource and offers guidance on how to ensure that meetings are inclusive of diverse participants and that input is received from all.
This presentation can help form the basis of internal unconscious bias training.
Once you map out the actions you want to take in the Goals and Activities Tool in Chapter 2, plug them into this tool to outline who needs to be involved, what resources you need and your next steps.
Use this template to design a gender D&I governance structure for your institution.
Developing the gender D&I strategy and planning activities requires extensive coordination with many teams and individuals throughout the institution. Use this document to map out key stakeholders, how to approach them, and what to discuss.
Use this worksheet to specify informed targets for the key metrics identified in chapter 2. It can be combined with the key metrics tool from chapter 2. Use the guidelines in the Set Targets section to help determine achievable but challenging targets or goals.
This tool offers guidance on questions to ask and approaches to take when aligning senior leaders on the gender D&I strategy.
After conducting a baseline assessment to uncover priority challenges, use this worksheet to identify goals and related activities for each area.
Use this tool to plug in your diagnostic results. Looking at the whole picture, identify priority challenge areas.
Banco Ficohsa Honduras used this survey to learn more about the needs of their female employees.
Mercer uses these questions to measure employee inclusion, and they set a goal for each year’s score.
Bank al Etihad developed this template to conduct a pay equity analysis. It is a simple tool to compare pay at each grade for men and women. It does not identify the reasons behind the numbers or any potential fixes, but it offers a very basic calculation of what women and men are earning at each level of the organization.
Use this excel template to predict female representation in senior management 10 years from now. To calculate these projections, gather real data on female representation, hires, promotions, and exits for the last five years. Change your assumptions and see what happens.
Use this spreadsheet as you work your way through this chapter to create a baseline for gender D&I metrics. Definitions of each career level are included. Later, you will re-visit it to set targets and measure progress against this baseline as the strategy is implemented and actions are taken.
This slide deck includes data and statistics on the value of diversity. It also includes blank slide templates to build your own evidence deck.ad