Network HR were proud to collaborate with the London HR Connection, on the most recent event hosted by Fidelis MGU where an esteemed panel delved into the topic of Power of Perception in Cultivating Diversity.
With spectacular views of the city on the 42nd floor, the setting of Fidelis MGU offices was ideal for a collection of HR leaders to network and discuss the intricacies of cultivating diversity – a shared challenge across sectors.
The event began with Craig McCoy, chair of LHRC introducing the session, setting the stage for a discussion on "the power of perception." Chris Rowlands introduces our panel – Deborah Leen Fidelis MGU, Michelle Raymond - The People’s Partner, Jade Green – CMC Markets, and Yanmo Adetula – Leadership Coach. Chris provides an overview of the topic, delving into the key findings of a recent ENG report where we researched the perception of diversity and inclusion within the insurance sector. The report was the result of findings from over 750 HR professionals surveyed, with some disappointing, albeit not surprising, results regarding the perception of diversity - with headlines such as 57% of respondents have experienced discrimination based on gender, ethnicity, or sexual orientation, with only 21% describing the sector as diverse and inclusive.
You can read the full report here.
Following this, Deborah Leen – HR Director at Fidelis MGU - offers insights from the insurance sector, commenting on the ENG report's findings and is transparent in saying the insurance sector has a way to go. The suggestion is industry-wide collaboration and sharing best practices is going to be how the sector attracts and retains talent.
Jade contributes to the discussion by providing insights from the broader financial services industry, drawing a comprehensive picture of the topic and that more must be done, especially in the more traditional markets. A key takeaway from this was for employers that are scared of failure, is to start the journey and take failure as a way of learning and transformation. Our panellists assured employers that they’re not going to get it right each time when implementing D&I strategies but by making the right noise and showing initiative, this can help with the overall perception.
Michelle and Yanmo compare the ENG report findings with those from other industry sectors, highlighting both similarities and differences. They shed light on how diversity and inclusion are approached in various sectors. The discussion then shifts to the concept of "authenticity." The panel explores how companies can demonstrate their commitment without falling into the trap of blackwashing or rainbow-washing. Practical strategies are discussed and again it was a lesson that leaders must be willing to be vulnerable, admit they don't know it all, and show a desire to learn. Allyship, getting involved in employee groups, selecting one initiative at a time testing this before creating a campaign, and demonstrating top-down involvement is a way of boosting both internal and external perception.
Next, the event featured a panel discussion on positive case studies. This segment focused on companies and sectors that have successfully addressed inequality - highlighting their achievements and implementation strategies. The panellists discuss leadership tools leveraged by these entities. Monzo was mentioned as a disrupter to the FinTech world with their ED&I strategies - especially with their parental policies. In contrast, the marketing campaign for Virgin Atlantic was an example used with a resonating message and a large advertising budget, which inevitably led to a great talent surge.
The topic of "employee networks" is addressed in the subsequent panel discussion. The debate revolves around the merits and potential drawbacks of employee networks, emphasising the need to strike a balance between empowering underrepresented groups and ensuring a platform for all voices. Strategies for recognising intersectional differences and practical approaches for businesses without employee networks are discussed with arguments both for and against employee networks.
Jade Green, a panellist from CMC Markets, brought a unique perspective to the discussion by introducing her "window theory" - shedding light on the disparity between perception and reality in the context of diversity and inclusion (ED&I) efforts. Drawing an analogy to math homework from school, she emphasised the importance of showing the working out, not just presenting the final answer. Jade stressed that businesses should not merely showcase their end product in ED&I strategies but also reveal the intricate process behind it. This transparency allows stakeholders to understand the motivation, dedication, and authenticity of the organisation's commitment. By unveiling the 'workings' behind their ED&I initiatives, companies can bridge the gap between perception and reality, ensuring that their efforts are not merely perceived as token gestures but are genuinely rooted in their core values and principles.
The audience is given the opportunity to ask questions, further engaging with the speakers and panellists. Finally, Craig wraps up the event with closing remarks - summarising key takeaways and insights shared during the session with the attendees and panellists enjoying further networking over canapes and drinks.
We would like to thank our panellists, the attendees, London HR Connection and our hosts Fidelis MGU for a fantastic event.
