Diversity & Inclusion: a new paradigm
Investing in a pipeline of high-performing women
Across Financial Services, it is recognised that there is a lack of diversity. Most acute is the lack of women in senior and executive positions.
Why is this important? The ethical argument aside, it has a fundamental impact on talent and performance. Organisations that actively go in search of more women to occupy their senior roles are opening up a rich pool of talent. More importantly, this is a business imperative. We operate in service industries where consumers and clients demand greater diversity; and it is proven that organisations with more diverse workforces, especially at senior levels, perform better than competitors.
Right now, we know that there aren’t enough women in senior roles, and that the pipeline of women is not sufficient to satisfy the demands of many leading organisations. For many different reasons, this is the reality. We want to help organisations and individuals create a new paradigm.
We are investing in the future, to help open up a more diverse pipeline of talent for the Insurance, Asset Management and Wealth Management industries. As leaders in Executive Search, our ethos has always been to develop a strong and ongoing relationship with high-performing talent. Now we are making a commitment to identify more female talent, provide executive career advice, and help them to engage with the right organisations at the right time.
- Early Contact – we believe in working with high-performing professionals from the earliest possible moment. By making early contact, we are able to begin the career conversation and help them manage their careers, and make sure that having children, for example, doesn’t derail their future prospects.
- Executive Career Management – we’ve been doing this for 20 years for all of our execs. We can help senior women to consider the many opportunities open to them, and manage their future in a way that suits their motivations and ambitions.
- Client Alignment – we have made a business of matching people to organisations and organisations to people. This is more important than ever in helping high-performing talent to join the right organisation for them; but also for clients to appreciate the cultural and working dynamics that will attract female execs to want to work for them.
For our clients, our message is simple. We are building the relationships and creating the pipeline to be able to offer you more diverse longlists and shortlists, in particular helping you to bring more high-performing women into your businesses. This is an important and long-term commitment from Hanover Search Group, reflecting our desire to help clients grow the capability of their senior teams and stay ahead of the competition.
This is an important focus for so many organisations today – and rightly so. Many large organisations are determined to change the status quo; and in the UK, for example, a number of leading organisations in financial services have committed to the government’s Women in Finance Charter. We hope that we can help many of our clients fulfil their commitment; and in the same spirit, we have adopted the key points of the charter.
We have appointed a champion for D&I. Kamila Orlando, Partner, who leads our European Financial Services Executive Search practice, has taken on the additional role of D&I Partner. She will lead our D&I strategy, together with a wider team within HSG. We have set internal targets for gender diversity; and we will publish our progress annually.
We have gone further as well, by:
- Delivering unconscious bias training for all of our consultants
- Transforming our internal recruitment process
- Making role models available for all junior female colleagues
- Growing understanding across the firm
We host breakfast events on Diversity & Inclusion throughout the year for our clients. If you would like to attend, please contact us. Attendance is by invitation only.
- 17th November 2016: Our first breakfast event focused on a key topic - The New Paradigm In Diversity & Inclusion with guest speaker Sarah Churchman, Head of Talent Inclusion and Employee Wellbeing at PwC.
- 22nd March 2017: Our second breakfast event saw guest speaker Pauline Miller, Head of Diversity & Inclusion at Lloyd’s lead the discussion on the practical steps organisations, leaders and managers can take to increase diversity and create a more inclusive culture.
A Partner with over 18 years’ experience in the industry and in executive search, Kamila leads the European Financial Services Executive Search practice helping clients across Europe to find the best possible people in diverse markets, cultures and conditions. In her role she specialises in Asset Management as well as Insurance industry, with a predominance towards Actuarial, Risk, Compliance, Finance, Audit and Underwriting. Kamila has taken responsibility for our Diversity & Inclusion agenda, creating a strategy to grow our capability, understanding and culture, as well as advise clients.