Greater diversity has been at the forefront of financial services recently. The introduction of gender equity indices; the ASX including a 30% gender target in their governance guidelines; and the growth of the Diversity and Inclusions in Asia Network all point towards a changing industry attitude.
There have been 47 women appointed to ASX 200 boards so far this year, making up 49% of appointments compared to 8% of appointments in 2008. This impressive increase can be credited to an industry-wide push for promoting women into senior positions such as C Suite and board member roles.
Diverse and inclusive leaders have far-reaching influence in businesses. They lead to better bottom line performance and help promote innovative business solutions. However, there is also a need to create a pipeline of talented and appropriately skilled women both within the business and in an external talent pool. Reaping the benefits of diversity also takes more than simply ticking some boxes and hiring a broad range of people. A focus on building an inclusive culture is essential to make sure that innovative ideas are voiced and people operate in their most productive manner.
Creating an inclusive workplace takes time and effort and for some businesses this means a complete cultural overhaul. Changing policies to be more reflective of the needs of a diverse workforce such as facilitating flexible work arrangements and implementing blind hiring policies can go a long way in encouraging a diverse range of applicants and ensuring they all feel valued and understood.
The long term goal of diversity and inclusion policies is to foster diversity of thought in a workplace. Foster a team with different personal and professional backgrounds and personalities to broaden the scope of ideas you have to choose from when tackling an issue. At Anton Murray Consulting we promote inclusive hiring practices to ensure that you achieve the best outcomes for your team or broader business.