Securities operations managers at financial services firms are making renewed efforts to embrace and implement the goals of diversity, equity, and inclusion (DEI). There is a critical need for firms to recruit more women and black, indigenous and people of color (BIPOC) for staff member positions. By moving in this direction, though, firms must do more than launch a diversity hiring spree. They will have to confront any internal misconduct, bias, sexism, and racism undercutting efforts for improvement. Firms will need to review, revise and reform hiring policies and procedures, and formulate strategies that are more conducive to a truly diverse work force. Firms will need to invest in development and executive coaching to facilitate career paths for women and BIPOC staff members. Mostly, firms will need to make a deeper commitment to diversity.
• What level of commitment is needed to have a successful diversity recruitment effort? recruitment plans that measure and boost representation of women and BIPOC staff?
• Overall, how can firms make themselves more welcoming to women and BIPOC staff members?
• Can the firm enlist mentors who can help foster and keep more women and BIPOC staff members?
• Should progress on the diversity front be a factor in awarding executive bonuses? If so, how much of a factor should it be?
• What can firms do to establish long-term maintenance of a diverse staff?