The paradigm of diversity and inclusion (D&I) is evolving at this very moment. The world is not the same as it was 10 years ago. The “salad bowl” is quickly replacing the United States’ “melting pot.” Men stand as allies to tackle gender disparity and support equal representation in organizations, companies are publicly and boldly demonstrating their support of the LGBTQ community, and workplace activists are actively collaborating with individuals and teams to contextualize workplace equality.
Insurers are extending their definitions of diversity, striving to bring in new, fresh perspectives and effectively address the changing demands of their customers and employees. Leaders from diverse backgrounds are inspiring the industry to continue their work towards diverse and inclusive companies. Organizations are elevating the topic from mere conversations to tangible actions and infusing inclusion into their corporate DNAs.
We celebrated the industry’s recent strides towards D&I in our recent white paper. Here are just six of the many D&I trends we touched on:
- Providing More Employee Resources: Many organizations now have their own corporate D&I programs and women have more resource groups available than ever before. In fact, nearly 97 percent of companies have some sort of formal or informal D&I strategy in place, and diversity training is being built into the hiring and onboarding process.
- Establishing Training Programs: Many institutions now provide diversity credentialing programs and certified training manuals to provide professionals with the right techniques and tools to embrace forward-thinking mindsets. Educated D&I advocates help others become accountable for promoting inclusion, linking additional benefits to D&I metrics.
- Elevating Diversity to the C-Suite: To tackle the absence of an active and interwoven D&I program, organizations gave birth to the Chief Diversity Officer – a C-level position focused solely on managing D&I efforts. The position has become a driving force of change and earned a permanent place in the C-suite.
- Openly Supporting LGBTQ communities: Many insurers have publicly demonstrated their commitment to D&I by participating in LGBTQ community events and campaigns. They have used social media to announce their support, identified their preferred pronouns in their signatures and bios, and focused on improving their workplaces for better inclusivity.
- Collaborating Across Organizations: Insurers are increasingly discussing D&I’s potential for innovation and problem solving at networking summits and conferences that bring diverse stakeholders together.
- Partnering with Diverse Suppliers: Today’s organizations are intentionally choosing diverse suppliers. Last year in California alone, insurance companies spent $1.6 billion in goods and services from diverse suppliers, a $670 million increase since 2012.
What is on your organization’s D&I agenda? Download our white paper to learn how others are effectively promoting D&I in the workplace.