Pub. 16 2019 Issue 1

8 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S DIVERSIFYING OUR MOST IMPORTANT ASSET T hey say you can’t improve what you don’t measure. That is why ABA has established a dashboard that shows the gender, ethnic and generational breakdown of our workforce, from the customer service operators to the C-suite. This snapshot is a critical first step in a self-as - sessment of progress towards our goal to be the kind of diverse, equitable and inclusive work- place that attracts and retains the best talent. It shows where we are and where we have room to improve; for example, it shows our staff is 39 percent non-white, 37 percent Gen X and that 45 percent of SVPs and up are women. We want top talent for the same reason banks— many of whom have landed on “great place to work” lists, as ABA did last year—do: Because it helps us succeed. And there’s no denying that success is boosted by a diverse workforce. I appointed a staff task force in 2017 to explore how ABA can enhance our own approach to diver- sity and inclusion, and the group’s report made a strong business case for taking our efforts to the next level. Consider that 43 percent of millen - nials—now our largest generation—is nonwhite, and that the U.S. is projected to not have a single racial or ethnic majority by 2055. That alone tells you that if you don’t have a diverse workforce in the fairly near future, you won’t have a workforce. Studies have also shown that companies with greater gender and ethnic diversity are more like- ly to outperform those with less. But the most important case for diversity is simple: Ensuring your institution’s employees and leaders reflect the communities they serve— and treating all employees equitably, making them feel included—is the right thing to do. Banking leaders have told me they whole- heartedly agree, and some are further along in their DE&I efforts than others. Some, for example, have landed on Forbes’ Best Employers for Diversity list, while others, including those operating far from diversity-rich cities, are still grappling with attracting diverse talent. Re- member, though, that workplace diversity isn’t just about color; it’s about ensuring you have a range of perspectives and experiences inform - ing your decisions. That can come from anyone whose background is different from yours. Think gender, age, military service, disabilities, sexual orientation, religion, socioeconomic status, etc. The good news is banks don’t have to figure all this out on their own. There also are a host of or- ganizations that are eager to share their insights to help you get it right, and ABA offers training, conferences and resources in this space—all cataloged at aba.com/Diversity. In addition, the Be intentional about making sure staff have the right sponsors, who have a far greater impact on advancement than mentors. WASHINGTON UPDATE ROB NICHOLS, PRESIDENT AND CEO American Bankers Association