How to Stand Behind Workplace DEI Efforts

Recently, government officials and politicians across the country have fueled conversations listing DEI efforts as “problematic” and possibly to blame for unrelated tragedies.

While these talking points may sway disingenuous DEI efforts, how can those dedicated to diversity take a stand?

Jeffrey Siminoff, senior vice president for Robert F. Kennedy Human Rights, wrote an article for Quartz outlining how to stay focused on diversity, equity, and inclusion (DEI) efforts — even when they’re under attack. Jeffrey offered the following steps:

1. Reaffirm the root of your DEI efforts. Use internal and external messaging to restate your “why,” “what,” and “how” regarding a commitment to diversity.
2. Actively reject false framing about DEI commitments. Despite the current outside narratives, DEI efforts positively affect organizations, job candidates, and employees — make your stance clear.
3. Stand behind your purpose. If you’re standing up for DEI efforts now, it’s likely always been a part of your organization’s mission — and you should continue to stand for it.

The crux of Jeffrey’s article: Don’t let your core values — whether your own or your organization’s — be swayed by political misunderstandings.

At Diversitas, our mission is to give those who are underrepresented in the financial planning profession a better understanding of the great opportunities that exist in the industry, as well as a platform to have thoughtful discussions about how we can build a more inclusive future.

Even recently, research shows that the financial industry has the second-largest gender pay gap, and the most common ethnicity in the sector is White (76.3%), followed by Asian (8.7%), Hispanic or Latino (7.7%) and Black or African American (5.2%).

There is no more room for misunderstandings contributing to a lack of diversity in the industry and to whom it serves. It’s up to us to take a stand, reiterate our values, and clarify that there is a considerable need for diverse talent for well-paying, meaningful jobs in this industry, and that wealth management firms should stand up and improve on their DEI commitments and initiatives.

To read the full story, click here. For more information about how to set DEI goals in wealth management, check out our blog post here.