1. Encourage interaction and collaboration among employee networks
There are significant benefits to groups such as women’s networks or other affiliate groups. And rather than allowing these networks to operate in isolation, you should actively encourage them to interact and amplify each other’s voices.
By fostering collaboration and cross-pollination between different employee groups, you can create a more inclusive and cohesive culture.
2. Rethink reward and recognition structures
It may be time to reevaluate how you reward and recognise different employee contributions. Relying too heavily on financial targets can drive a specific type of behaviour that may not align with the broader needs of the business or the team. Instead, consider how to better recognise the value that individuals bring to the organisation, their strengths, and also where they need to be supported.
For example, women are often more likely to engage in activities that benefit the team or organisation as a whole, but may not be directly tied to financial targets. While these efforts can largely go unnoticed, if they were taken away, the team would be far less productive and far less efficient. So recognise and reward activities that could include team-building, mentoring, and other initiatives that may not directly impact the bottom line but are essential to a thriving workplace.
3. Embrace diverse experiences and non-linear career paths
Additionally, it is important to recognise the value that diverse experiences, including time spent outside the traditional workforce, can bring to an organisation.
Many high-performing women express concerns about the relevance of their personal circumstances to their professional roles. It pays to actively work to dispel this notion and instead embrace the unique perspectives and skills that employees with non-linear career paths can offer. By doing so, you can tap into a broader pool of talent and unlock new avenues for innovation and growth.
In conclusion, the C-suite perspective on DE&I is clear: it is a critical driver of profitability and long-term success. By fostering a diverse and inclusive workforce, companies can unlock innovative thinking, better understand their customers, and attract and retain top talent.
However, this requires a holistic approach that goes beyond simply setting diversity targets. It means rethinking reward structures, supporting employee networks, and recognising the value of diverse experiences.
About Independent Women
Created by women, Independent Women is the UK’s longest-running and only national IFA specialising in wealth management for women. Independent Women is a trading name of Forvis Mazars Financial Planning Ltd, which is wholly owned by Forvis Mazars LLP, the UK firm of Forvis Mazars, an international advisory and accountancy group.
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