By Luuk Jacobs
Attended a great event yesterday evening of #InterInvest, the LGBT network for the Investment Management Industry. An insightful panel discussion on trans inclusion in the workplace. No surprise that there is still some way to go. The personal stories of the panel members spoke for itself and are equally an eye opener. The main action to take away for me was to be an ally (hence writing this) and stand up for their rights be it in the workplace or in normal life.
It was for me the first time attending a panel discussion on trans inclusion and the personal stories showed the daily exposure to the biases and prejudice in the workplace. Testimony to Rachel and Emma for having become successful in their own right in their companies and for me they are definitely a role model for other transsexual people or anyone else that has to overcome bias and prejudice for the person they are or want to become. So I hope to read on the AlgoMe Community more personal stories of creating inclusion and diversity so that we can all learn and be guided to create this in our own workplace.
By Luuk Jacobs
Stonewall has recently published its top 100 most LGBT inclusive employers in the UK. It is absolutely amazing to see that a total of 445 companies representing 20 sectors submitted their file, representing a total of 3.7 million employees. Not a small feat and a testimony to the importance of this report. Pinsent Mason has this year taken the top spot after being number 2 in 2017 and 2018.
An observation from my side is that the public sector is dominating here and looking at the Investment Management industry, there is only one company featured in the ranking, Bank of America Merrill Lynch on spot 50. It seems that non of the other 200 plus companies have even filed for the ranking. So some work to be done there.
My personal experience is that if investment management companies would file, they could score reasonable well. So it would be a great opportunity for the investment management companies to profile themselves as a diverse and inclusive employer. They might say this today within their company profile description but being mentioned in this list would give some evidence of it. Equally it would be an opportunity to better understand where they could get better.
So I can only hope that in next years report, more than 1 investment management company will be listed.
Top 100 Employers 2019
WWW.STONEWALL.ORG.UK Read our Chief Executive's Introduction The Stonewall Workplace Equality Index 2019, now in its fifteenth year, has been the largest yet. We’re immensely delighted by this year’s Top 100 Employers – and of all the...
IN SUPPORT OF LGBT HISTORY MONTH – PEACE, ACTIVISM AND RECONCILIATION.
LGBT Great is proud to be supporting this event in collaboration with our Member Legal and General Investment Management, the Diversity Project, Global Butterflies, and the IAM network.
During the evening there will be a panel discussion with Emma Cusdin and Rachel Reese from Global Butterflies, a firm set up to help companies in all sectors create Trans inclusive working environments. Owen Francis, Head of Healthcare Research from Harvey Nash, also an associate of Global Butterflies, will also provide his lived perspective. Owen is an openly transgender man, having transitioned in 2011, he is passionate about transgender inclusion, having worked with, and delivered training sessions to corporate over the years. Our Managing Director, Matt Cameron, will also provide an ally and industry perspective on the panel.
Trans Inclusion in the Workplace
WWW.LGBTGREAT.COM In support of LGBT History Month – Peace, Activism and Reconciliation. LGBT Great is proud to be supporting this event in collaboration with our Member Legal and General Investment Management, the Diversity...
By Jonathan Max
In 1995 the analogue world was set to change radically. At this point in time, a mere 16 million people were using the internet globally. Fast forward to today and the figures are somewhere around the 4 billion mark. Jack Welch, the former GE CEO, was able to envisage how the internet would transform business. He applied his visionary thinking and put GE’s youngest employees to work by getting them to teach 500 of their top executives how to use the internet. As a result, he upskilled a generation of business people and he also popularised ‘reverse mentoring’.
Reverse mentoring is when the younger generation takes the lead role with the senior person as the mentee. It is an extremely valuable business method – especially during the times of disruption. The internet, social media and emerging technologies such as AI and Fintech, and of course, the ever changing fabric of society as a whole have been in a constant state of flux for decades and it can often be hard to keep pace with change.
Benefits for Diversity & Inclusion
As noted by Forbes; reverse mentoring can facilitate organisational goals such as increasing millennial retention, fostering inclusivity, and maintaining competitive advantage. According to a recent article by MarketWatch, reverse mentorships can help build a more inclusive workforce. 20% of millennials (ages 18 to 34) identify as LGBTQ, compared to 7% of Baby Boomers, and almost of half say that a diverse and inclusive workplace is an important factor in their job search, as well as work-life balance.
Brenda Trenowden, CFA, global chair of the influential diversity group, the 30% Club, believes it helps organisations embrace inclusion. “The CEO has to really commit to drive change. If the CEO doesn’t commit to this as a business imperative, then it is hard to see anything changing. When senior leaders become involved in reverse mentoring, and really hear first-hand about some of the challenges that the more junior people face, that will really help.” So the writing is really on the wall here.
Benefits for Client Relationships
It’s imperative for senior management to be aware of and involved in new technologies and reverse mentoring provides the opportunity to do this. While there are benefits for both the older and younger generations within the company; what is just as interesting is the potential benefit to the customer or client as they are equally technically savvy.
Reverse mentoring, which has still yet to be widely adopted, is today one of the single biggest opportunities for organisations to leverage knowledge and differentiate themselves – making themselves more attractive to customers.
There are two main reasons for this:
An inversion of the corporate age pyramid; we are entering a new era where the majority of the workforce will be made up of technically savvy, agile individuals who are typically hierarchy-adverse. The speed of business transformation and impact of technology on the fundamentals of the corporate landscape is disrupting old models at an unprecedented pace.
Turning Senior Management Into Early Adopters
When it comes to technology, there is often a great fear of it among senior management. They will often shy away from group training where they might expose their lack of knowledge and experience to their tech savvy junior team members. This is damaging all round.
More positively, the new generation of talent is made up of digital natives and they will want to influence the direction of the business they are working in, but they are also happy to share their knowledge and insight. Reverse mentoring is a great way of doing this and by putting people together into face to face meetings, it’s highly effective and creates a level of understanding between generations without anyone feeling vulnerable or at a disadvantage.
In an excellent article from Microsoft, “Reverse mentoring; How millennials are becoming the new mentors”, it is great to see how reverse mentoring can benefit both individuals involved across a range of topics (“learning to better collaborate and leverage each other’s strength”). If we want to avoid the ‘male, pale and stale’ stereotype, surely the investment management industry needs to take a leaf from this book?
In conclusion, aside from technical skills and knowledge that can be passed from younger to older workers, there are significant cultural benefits that may be realised through reverse mentoring; be it in breaking down stereotypes between generations or just learning how best to communicate and engage with people who might know more than you!
Please do visit our new Mentoring section where you can create a profile and find a mentor within the AlgoMe Community.
By Luuk Jacobs
Material findings in this report and clearly we can not (and should not) influence nature when it comes to becoming father of children but I would think it shows that "exposure" to the world girls and in the end women live in, makes men's views on gender less traditional. This possibly makes a good point to creating exposure to the experience of women in professional life, to change (traditional) views (as my point made with regards the elevator video where women are directed to the staircase and men take the elevator ....... it should have been the other way around)
Having a daughter makes men less sexist, research confirms
WWW.WEFORUM.ORG The study tracked the responses of more than 5,000 men over the course of a decade, and the effect seemed to be strongest as daughters reached secondary-school age.