Never before has the value of diversity & inclusion (D&I) in the workplace been more pronounced – and for good reason. People from different backgrounds, cultures and experiences have a greater degree of neurodiversity, which has been shown to challenge group think, helping to improve decision making, and as a result, a company’s bottom line. In fact, research by McKinsey* shows improving gender parity within the workplace could realistically add £150 billion to UK GDP by 2025 and that improving racial and ethnic diversity within an organisation can positively impact financial performance by up to 35%. The same research also shows firms with greater gender and ethnic diversity on their executive teams are 21% to 33% more likely to outperform on profitability than their counterparts. In other words, not only is there a compelling social case for increasing D&I in your workplace but it makes sound business sense too. This is one of the key reasons why PIMFA has launched its inaugural Diversity & Inclusion Awards.
We believe there are pockets of great D&I practice that remain hidden or unrecognised throughout our industry. We want the PIMFA D&I Awards 2021 to be an opportunity for firms and individuals to be recognised for the wonderful work being carried out. Entry to the PIMFA D&I Awards is free and open to all firms and stakeholders in the wealth management, investment services and financial advice sector – members and non-members alike.
We are encouraging all organisations – large or small – at whatever point they are on with their D&I Journey to enter – we want to hear from you and about the work you are doing. The awards have eight categories, and you can enter one or all of them – view them all here.
The D&I Awards judging panel is comprised of renowned leaders in the sector including representatives from organisations such as Raymond James, LGBT Great, Brown Shipley, Royal London, EY and others.
It is also being widely supported by sponsors including Royal London, Worksmart, Morningstar, Raymond James, Interactive Investor, Fidelity and Rosie Reynolds Marketing.
We hope the awards will prove to be a high-profile opportunity to raise awareness of the fantastic work you and/or your firm have been doing over the last 12 months. We want the D&I awards to showcase new initiatives and provide inspiration and ideas for everyone within the industry. We also expect the awards to be an opportunity for some firms and individuals to have their efforts in D&I policy recognised.
There are now just three weeks the to submit your entry on 17 August. The process to enter is simple, quick and free – find out more or submit your entry by clicking here.
* (Diversity Report 2015 & McKinsey Report: Diversity Wins: How inclusion matters, 2020)