Jump to content
  • Jonathan Max
    Jonathan Max

    Sign in to follow this  

    Neurodiversity – considerations for Investment Management

     

    Earlier this year the Chartered Institute of Personnel Development (CIPD) the professional body for HR and people development in collaboration with Uptimise, a firm which helps organisations attract and leverage neuro diverse talent, produced an excellent guide on Neurodiversity at Work. Simply described the recognition and respecting of different ways of thinking due to autism, dyslexia, ADHD, etc. and consider these various neurological conditions as result of normal variations in the human genome.


    This blog explores the key learnings and how they may be applied to the Financial Services industry. More specifically, we want to look towards Investment Management, and helping raise awareness of the importance and benefits of neurodiversity in the workplace.


    Key points from Neurodiversity at Work
    The business case for diversity in general is now accepted. Organisations now challenge each other with innovation and vie for competitive advantage. As a consequence, there are significant risks of being left behind and one of these is not including people with different ways of thinking or actively leveraging different thinking styles. The Neurodiversity at Work guide points to a clear comparison between man and machine. Unlike a machine, the human brain cannot be determined as ‘fixed’ or ‘broken’; it might just have a different way of operating. 


    The guide focuses on forms of ‘innate neurodivergence’ such as Autism and ADHD; effectively a further pillar of Diversity and Inclusion that seeks to embrace the talents of people who think differently. Neurodiversity is not something binary but rather a range of differences in brain function and behaviours. We need to move away from stereotypical thinking of neurological conditions. The “negative and medicalised language has dominated the lexicon – witness the very terms ‘autism spectrum disorder’ and the double negative in ‘ADHD’. The size of this talent pool should not be underestimated, as the guide reports the overall population of neurominorities is greater than 10%.


    Neurodiversity in action
    According to the report, lessons can be learned from the JPMorgan, EY, Google, Microsoft, SAP, Ford and Amazon who all have, or are developing, neurodiversity initiatives with some more advanced than others.


    JP Morgan
    “Around 80% to 90% of autistic people are unemployed,” says James Mahoney, executive director and head of autism at work at J.P. Morgan. “For us, that’s a talent pool. If you look at areas like technology – there’s a huge shortage of good people with high-level skills. It’s a sector that we know many autistic people excel in.”


    EY
    In 2016 EY launched a neurodiversity program in Philadelphia to hire people on the autism spectrum to serve as Account Support Associates (ASAs). Sam Briefer, one of the first hires under the neurodiversity program said: “We bring something to the table that a lot of people cannot. We are very detail-oriented. We analyse things in a very specific way, and we are good with numbers. And we see things slightly differently, which means we can come up with new and innovative ways of doing things.”


    SAP
    Enterprise software firm SAP has committed 1% of its workforce made up of those on the Autistic spectrum by 2020 – reflecting the percentage of the global population that is Autistic. It’s Autism at Work programme launched in 2013, and the company has transformed the way it recruits and trains staff to be as inclusive as possible. “We had to develop so many processes from scratch because we didn’t want to use standard HR processes,” says Stefanie Nennstiel, senior director of diversity and inclusion at SAP. “Someone with autism would not survive the traditional interview process, for example, so we had to be more creative.” 

     

    Action for Investment Management industry to take
    So, what can the Investment Management industry do to harness this talent and be neurodiversity smart? 


    Clearly there needs to be commitment to neurodiversity from the top of the organisation which then must cascade and be communicated so that this vital group can be integrated into the culture of the firm. Review of workplaces, hiring process and management practices is essential; given the fundamental changes the industry has faced over the last few years, I would hope this would be seen as a further change worth making.

     

    The cost of inaction for Investment Management might be vast, and if you’re pondering when your organisation might adopt a neurodiversity policy, just ask yourself these two questions:

     

    - What will it cost you not to get the most out of your employees in terms of productivity, or to lose talent to more inclusive, attractive employers? 
    - What will it mean for your product innovation to miss out on the ‘diversity of thought’ that neurodiversity can deliver, and that other firms are setting themselves up to benefit from?


    And then you might want to speak to your senior management team or HR, or both.

    • Like 3


    Sign in to follow this  

    Share this  

    Member Feedback



    Recommended Comments

    There are no comments to display.

    Become a member to read more and join the discussion

    Members can read and contribute to discussions

    Apply

    Register now for free access.

    Create your account

    Sign in

    Already a member? Sign in here.

    Sign In Now

  • Our picks

    • FSTP LLP in partnership with AlgoMe invite you to a lunchtime round table discussion on the most pressing issues in today’s industry; digital skills shortage and the apprenticeship levy
       
      Introducing your hosts:
      FSTP LLP, a Main Provider for Apprenticeships offering Financial Services, Leadership and Management Apprenticeships, will be on hand to share insights and experience AlgoMe, the community for the Investment Management industry, connecting professionals from Asset Managers, Wealth Managers and FinTechs with their wider industry ecosystem will be on hand to discuss skills and transformation in the industry  
      The event:
      12.30 - 12.50
      Your co-hosts Rob Carter and Andy Milner, AlgoMe will give an overview of demand for retraining and tech skills, based on the latest AlgoMe report; The Disrupted Career: FinTech, Innovation and The Future Of Careers In Investment Management Followed by Philippa Grocott and Nicola Spennati from FSTP LLP, will give an overview of opportunities for using the apprenticeship levy and how to do so effectively within the industry sector 12.50 – 14.00 Group discussion over lunch
       
      Attendance is limited and on a first come first serve basis. Please contact andy.milner@algome.com if you would like to attend.
        • Like
      • 0 replies
    • The Disrupted Career
       
      Welcome To The AlgoMe Report On FinTech, Innovation And The Future Of Careers In Investment Management
       
      This report aims to address key questions that are important to everyone working in or looking to join the Investment Management Industry.
       
      How significant will the impact of FinTech be on career paths? How likely is my current role to be affected? Where are the opportunities in this disruption? How can I best position myself for future success?  
      We asked a panel of Investment Industry professionals their views.
       
      The full report is available for download to all AlgoMe Community members. Not already joined? Becoming a member takes less than a minute.
        • Like
      • 0 replies
    • With the decorations up, the last order date for Amazon nigh and most of us looking forward to at least a few days break, it’s always a good time to take stock of what’s been achieved over the last 12 months.
       
      For AlgoMe this has been another exciting year.
       
      January started in style with the launch of the AlgoMe Careers mobile app – giving professionals the opportunity to find their next career opportunity on the move.
       
      Then in July we released our Industry Pulse Report – a check on what the industry was thinking about key topics such as Brexit, Pay Gap Reporting, MiFiD II and GDPR. Unfortunately it seems that the uncertainty that the industry was feeling due to Brexit is unlikely to have receded in the intervening period, but it’s good to see progress starting to be made in other areas such as gender and diversity.
       
      In September we launched AlgoMe Community – a place for the Investment / Asset Management industry to come together, providing professionals with ways to grow their knowledge, profile and network. We’d like to say a big thank you to all of the members that have joined and contributed and look forward to continuing growth in 2019.
       
      In November AlgoMe joined the Investment Association, becoming a Fintech member and working closely with Velocity, the Association’s new Fintech accelerator. This is a really exciting initiative and we’re looking forward to doing more with Velocity in the near future.
       
      We also launched our Mentoring matching service in November – designed to help AlgoMe Community members connect with the best individuals within the community to help them to reach their career goals using a simple but intelligent process. If you haven’t already signed up to be a mentor or a mentee, please do spend 5 minutes now and tick off a New Year’s Resolution early.
       
      As we go into the end of the year, we have also launched our survey on Investment Management, Fintech and the future of careers. The impact of Fintech on the industry is going to accelerate rapidly in 2019, but what has been less well documented is the impact on individuals, their careers and the skills they’ll need to succeed in a more digitised environment. We really value the input of our community members, so please spend a couple of minutes filling out the survey and we’ll make sure you’re the first to hear the results early next year.
       
      From me and the AlgoMe team, I wish you all a very happy holiday season and look forward to another year of exciting announcements and change in 2019.
       
      Rob
       
        • Like
      • 0 replies
    • I have always struggled to see a fair reason why employers should be allowed to ask about a potential hire’s current remuneration, other than to give them an advantage in pay negotiations.
      It’s something which can only exacerbate existing pay inequalities and  it’s abolishment can surely only be a positive thing.
      Here the Guardian argues specifically about its impact with regards to the gender pay gap:
      https://www.theguardian.com/commentisfree/2018/aug/23/gender-pay-gap-current-salary-question
      I believe this has already been outlawed in some US states?
      @Jonathan Max - would be interesting to hear the view from HR. 
      • 10 replies
    • The Investment Association recently gave the industry a boost when it announced the launch of Velocity, its FinTech accelerator.  Designed to identify, develop and accelerate best in class firms with innovative solutions, Velocity will champion and facilitate the wider adoption of technology across the industry.
       
      And AlgoMe will be involved in this too, which is why I’m excited to announce we are now a member organisation of the Investment Association as an official FinTech member and have been named a "company to watch" by Velocity.
       
      Challenging Times
      The Investment Management industry faces major challenges and opportunities from forces such as digital technology, pressure on fees and increased regulation, while at the same time there are widespread changes in the workforce and their expectations.
       
      To date, Investment Management has both been fairly insulated from the challenges posed by agile FinTech competitors, but also distant from the opportunities offered by the new technologies and ways of thinking that such companies bring.
       
      Bringing FinTech closer
      Velocity is a fantastic step towards accelerating the adoption of FinTech. It has received support and endorsements from both inside and outside the industry, including from the Chancellor of the Exchequer, Phillip Hammond, who was enthusiastic about the initiative at a recent City event.
       
      To drive change and innovation, the industry needs to connect across different disciplines and areas of expertise, driving new ways of thinking and fostering cultural change.
       
      Without the benefit of emerging FinTechs and their external expertise, it will be hard for incumbents to harness the benefits of emerging technologies such as Straight Through deal Processing (STP), Distributed Ledger Technology (DLT), and Artificial Intelligence (AI) in areas such as risk and compliance, securities trading and investment decision making.
       
      Our Mission
      AlgoMe's mission is to connect the Investment Management industry and empower professionals to manage their careers. Our new product, AlgoMe Community, is placed to become the hub for the discussion between FinTechs and the companies and professionals in the wider Investment Management ecosystem.
       
      Join AlgoMe Community today
       
      AlgoMe Community - community.algome.com
        • Like
      • 0 replies
  • Related Content

    • Andy Milner
      By Andy Milner
      An interesting read from TheCityUK, which highlights the lack of diversity and need for more FinTech skills as being key challenges across FS.
       
      Financial Services Skills Taskforce - Interim report | TheCityUK
      WWW.THECITYUK.COM  
    • Jonathan Max
      By Jonathan Max
      Innovation is changing Investment Management. The Investment Association highlighted rapid technological change in its recent industry report
       
      Day by day new technologies like blockchain, machine learning and artificial intelligence are revolutionising the industry. It also encourages professionals to keep learning and adapting, invest in new skills, and be tech-savvy.
       
      With this acceleration of technology adoption and the changing nature of work; what exactly is the human element for the future of careers in Investment Management as it embraces Fintech? 
       
      Forbes points the way very clearly in its Six Innovation Leadership Skills Everybody Needs to Master article; that being innovation and ‘the need to bring people together as a team. The need to demonstrate deeper empathy. The ability to get new things done.’
       
      Technical skills can be learned, but a person’s motivators and behaviour style are typically more difficult to acquire and learn. This means it is imperative Fintech firms do not (or should not) make hires based on a candidate’s technical skills alone. 
       
      So why exactly are these softer skills relevant to Fintech and Innovation?
       
       
      Mindset
      FinTech professionals are required to have the analytical and critical thinking skills needed to help them find creative solutions to such problems, this Innovation Mindset will be essential to succeed in the dynamic nature of FinTech. The ability to collaborate effectively with others build relationships and demonstrate critical thinking will be in demand more than individuals who just ‘major’ on technical skills alone.
       
      Flexibility
      It has been predicted traditional Investment Management roles will soon become obsolete with estimates of their demise ranging from 5 to 20 years. For those considering transitioning from a more traditional role into Fintech, technology skills are not all that is required. A need for an adaptable and flexible approach to ensure cultural alignment in what can be very different working environments is essential. This applies equally to what individuals earlier in their careers need to be thinking about when they approach career planning plus hard and soft skills development. 
       
      Soft Skills
      The good news is soft skills is the topic most pursued across all career phases among the Investment Management industry. As we see the blending of industries - Fintech and Investment Management – it will be just as important for Fintechs to identify the need for people with strong soft skills so they may build the innovative, appropriate culture to enable growth of sustainable and healthy businesses.
       
      There is so much positive energy and progress across the sector and many great success stories. But, when the ‘human’ element is misaligned the outcomes can be spectacularly detrimental  - reports in the media about Revolut ‘where turnover and toxic behavior is rife’ are a case in point.
       
      What is evidently clear, soft skills are not ‘nice to have’ but essential for both employees and organisations to embrace so they may effectively navigate the future of the Industry and the opportunities ahead.
       
      We’ve looked at this in depth in our latest industry report. To find out more about our view of what’s to come, please download and read the AlgoMe report: The Disrupted Career: FinTech, Innovation And The Future Of Careers In Investment Management.
       
    • Andy Milner
      By Andy Milner
      This year it has been hard to escape Pride season – throughout June and into July there have been events all around the world commemorating the 50th anniversary of the Stonewall riots and the effective start of the fight for equal rights for the LGBT+ community.
       
      The celebration of diversity has gone well and truly mainstream, with companies from PWC and Barclays to Argos and GoPro changing their logos to include a rainbow flag. Marks and Spencers are even pushing a new “LGBT” sandwich, adding guacamole to the classic bacon, lettuce and tomato combo.
       
      Our industry is also in on the action, with the Investment Association and Schroders amongst the organisations that are showing their support via updated logos.
       

       
      Rainbow-washing?
       
      Is this public outpouring of support for the LGBT+ community merely a sign of corporations attempting to “diversity-wash” their images, or reflective of deeper changes in their attitudes and approaches to D&I?
       
      According to Stonewall, 6 in 10 LGBT+ 18-24 year olds are still choosing to hide their sexuality in the workplace, which is perhaps not surprising when 1 in 5 of those who have come out say they have been the target of negative comments or conduct in the workplace.
       
      The Investment Association’s new report Do You Remember the First Time? (the follow up to last year’s Bringing Your Whole Self To Work report) is about coming out and being out in Investment Management and makes for interesting reading.
       
      It highlights practical steps that can be taken to improve the experience of LGBT+ individuals in areas including recruitment, employee on-boarding, workplace policies and people management. It’s also encouraging to read a number of real-world examples of where these are being put into place across the industry.
       
      What definitely feels like a positive change is the growing ground-up movement, supported by a number of Industry initiatives, that has been beginning to push the LGBT+ equality agenda more visibly in the last year or so. In 2019, the City of London has been host to more Pride related events than ever before, from talks and discussion panels, to the raising of the Pride flag over the Guildhall in the run up to London Pride this weekend.
       
      Next week also sees the official launch of InterInvest – an industry wide LGBT+ network with the potential to make a real impact on how LGBT+ professionals surface and tackle the issues they face. This sits alongside LGBT Great, an initiative of the Diversity Project, which has just announced its 50-for-50 list of LGBT+ role models – an important part of the strategy for making LGBT+ professionals feel accepted and comfortable.
       
      All of this suggests cause for optimism. However, we also shouldn’t forget that LGBT+ hate crimes are on the rise in the UK and in other parts of the world as the forces of populism become more prominent.
       
       
      So are these public displays of support just rainbow-washing? The verdict isn’t clear.
       
      Peter Tatchell, a prominent campaigner sees it as a capitalist sell-out of the Pride movement’s principles. However, even if some of the motives are cynical, and it is not a true reflection of real progress, at the very least the increased visibility of the Pride movement helps to further bring the LGBT+ community into the mainstream of public perception.
       
      Here’s to more rainbow logos in 2020.
       
       
      Main photo credit: Matias Altbach 
    • Jonathan Max
      By Jonathan Max
      @Anthony - looked like a fantastic event; well done!
       
      Anthony Guinot posted on LinkedIn
      WWW.LINKEDIN.COM Sign in or join now to see posts like this one and more.
    • Jonathan Max
      By Jonathan Max
      https://www.theia.org/sites/default/files/2019-06/PolicyPaper-June2019.pdf
       
      Really interesting Policy Paper from the IA which certainly highlights the fundamental changes underway across the industry, particularly against a backdrop of increased regulation and technology disruption.
       
      Clearly the 'people' aspect is key, would be great to find out more about the Talent and D&I Strategy @gillian.painter?
       
       
Debug info for admin:
appcms
modulepages
controllerpage
topics/forum ID55
page ID
PHP user agentCCBot/2.0 (https://commoncrawl.org/faq/)
×

We use cookies to give you the best possible experience. If you continue, we’ll assume you are happy with this. For further information, see our Privacy Policy.