Findings from the third annual study underscore how DEI efforts support what employees need to experience in the workplace in order to do their best work – which points to critical steps employers need to take.
NEW YORK, Oct. 12, 2023 /PRNewswire-PRWeb/ -- Arizent, parent company of American Banker, Accounting Today, The Bond Buyer, Digital Insurance, Employee Benefit News, Financial Planning and National Mortgage News, releases their annual research assessing DEI initiatives in financial and professional services. Findings from this year's report, The Positive Business Impact of Genuine Inclusion, reveal that genuine commitments to inclusion and the number of demographic groups represented in organizational leadership are directly correlated to positive employee experiences.
"Companies that succeed at taking meaningful actions to make employees of all backgrounds feel included have healthier workplaces that are more likely to attract, retain and get the best value from their employees," says Janet King, Vice President of Research at Arizent.
To quantify the workplace experience for all employees, Arizent Research created a Workplace Toxicity metric based on 20 statements about workplace experiences — from workload and accountability to compensation and job security.
Employees who describe their organizations as having a genuine commitment to DEI initiatives are more likely to experience a less toxic working environment. Among the participants who answered "yes, definitely," 91% of their experiences measure between 5 to 7, indicating a healthy workplace.
In terms of effective DEI initiatives, establishing Employee Resource Groups (ERGs) ranks among the top. Respondents report experiencing higher levels of inclusion within the groups and 82% say that ERGs have driven change within their host organizations.
"Now more than ever, companies need to stay in top condition by doing more than simply hiring diverse leadership," King adds. "They need to calibrate their actions around DEI initiatives to make a genuine difference for underrepresented employees."
These findings, along with other important highlights from the research report, were presented at American Banker's THE MOST POWERFUL WOMEN IN BANKING conference, which took place October 3-4, 2023 in New York City.
To read more details about the benefits and best practices of DEI initiatives in the workplace, download the full report here:
American Banker: https://www.americanbanker.com/research-report/the-positive-business-impact-of-genuine-inclusion
Accounting Today: https://www.accountingtoday.com/research-report/the-positive-business-impact-of-genuine-inclusion
The Bond Buyer: https://www.bondbuyer.com/research-report/the-positive-business-impact-of-genuine-inclusion
Digital Insurance: https://www.dig-in.com/research-report/the-positive-business-impact-of-genuine-inclusion
Employee Benefit News: https://www.benefitnews.com/research-report/the-positive-business-impact-of-genuine-inclusion
Financial Planning: https://www.financial-planning.com/research-report/the-positive-business-impact-of-genuine-inclusion
National Mortgage News: https://www.nationalmortgagenews.com/research-report/the-positive-business-impact-of-genuine-inclusion
Research Background/Methodology
This online research was conducted by Arizent from July to August 2023 among 669 employees at U.S. companies. 60% of responses originate from white-collar industries such as banking, accounting, wealth management, insurance and other professional services. Participants identified themselves among a broad range of age groups and demographics while holding all levels of positions, ranging from non-management roles to executives.
For more information on this survey or other Arizent research, contact:
Janet King
Vice President, Research
Arizent
[email protected]
M 207-807-4806
About Arizent
Arizent is a business information company that advances professional communities by providing insights and analysis and convening industry leaders. The company uses deep industry expertise and a data-driven platform to deliver its services, which include subscriptions, marketing services, live events and access to Leaders, an executive forum. Arizent also connects business communities through leading financial services brands like American Banker, The Bond Buyer, Financial Planning and National Mortgage News, as well as professional services brands like Accounting Today, Employee Benefit News and Digital Insurance.
About Arizent Research
Arizent delivers actionable insights through full-service research solutions that tap into the company's first-party data, industry SMEs and highly engaged communities across banking, payments, mortgage, insurance, municipal finance, accounting, HR/employee benefits and wealth management. The company has leading brands in financial services, including American Banker, The Bond Buyer, Financial Planning and National Mortgage News, and in professional services, such as Accounting Today, Employee Benefits News and Digital Insurance. For more information, please visit http://www.arizent.com.
SOURCE Arizent
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