Auto Finance News
  • Home
  • News
  • Features
  • Events
    • Auto Finance Summit East
    • Equipment Finance Connect
    • Auto Finance Summit
    • PowerSports Finance Summit
  • Webinar
    • Harnessing AI & Machine Learning to Address Vehicle Affordability Issues
    • Webinar Library
  • Podcast
  • Powersports
  • Big Wheels Data

No products in the cart.

Subscribe
  • Capital & Funding
  • Compliance
  • Risk
  • Technology
  • Best Practices
  • Compliance Monitor
Log In
No Result
View All Result
Auto Finance News
  • Home
  • News
  • Features
  • Events
    • Auto Finance Summit East
    • Equipment Finance Connect
    • Auto Finance Summit
    • PowerSports Finance Summit
  • Webinar
    • Harnessing AI & Machine Learning to Address Vehicle Affordability Issues
    • Webinar Library
  • Podcast
  • Powersports
  • Big Wheels Data
BIG Wheels
Log In
No Result
View All Result
Auto Finance News
No Result
View All Result

Leading for diversity, inclusion, equity, and wellness in the workplace

Mag Bickford and Camille BryantbyMag Bickford and Camille Bryant
September 22, 2021
in Compliance
Reading Time: 7 mins read

America’s population — and therefore, our workforce — has been steadily diversifying for decades. Soon the country will not have a plurality of any particular race, and with members of Generation Z, or those born after 1997, entering the workforce, we now have four generations on our payrolls. Yet companies from a wide range of industries have struggled to increase diversity among their ranks.  

Countless research has proven that programs geared toward creating a more inclusive and equitable culture leads to increased productivity, employee morale, and talent retention. Indeed, many finance companies have employees spanning the country with accordingly diverse perspectives and backgrounds. The question then becomes: As an employer, how can you go about moving the needle in this arena for your people, especially in an era of increasingly virtual and remote operations? 

Every organization functions differently, so there is no one “correct answer” or silver bullet for your workplace programs. From our perspective as employment lawyers, here are some considerations employers may keep in mind when embarking on a diversity, equity and inclusion journey, and suggestions based on our clients’ success.  

Leading for diversity: Representation and recruitment 

Communication and transparency are key to any workplace initiative, and that’s especially true for programs that revolve around culture. First and foremost, an employer must recognize differences as strengths, and commit to improving diverse representation among its workforce.  

The most obvious place to begin with these efforts is in employee recruitment and talent acquisition. As the old adage goes, the definition of insanity is doing the same thing but expecting different results. To recruit more diverse candidates, you have to embrace changes to your process, and it starts at the top. Ask yourself whether your organization’s recruiting committee itself diverse? If not, start there.  

Employers should also revisit the criteria for selection in the recruiting and hiring process. Be specific in what your end game should look like. Where can you improve representation in your workforce? 

Employers will likely need to craft a program that extends beyond the efforts historically made in order to reflect the diversity you want to achieve with your team. Some suggested methods for improvement may include: 

  • Recruiting based on a comprehensive set of factors rather than straightforward, binary criteria; 
  • Expanding job ad postings to cast a wider net; 
  • Maintaining sincerity in your efforts and affording equal treatment to all candidates; and 
  • Affording transparency and consideration for diverse voices and perspectives. 

Leading for inclusion: access and involvement 

Where “diversity” is the noun, “include” is the verb. You may have heard the saying that “diversity is being invited to the party and inclusion is being asked to dance.”  

Establishing your company’s diversity goals goes hand-in-hand with taking meaningful action to incorporate newly recruited diverse employees into an inclusive, welcoming environment. Giving diverse employees a seat and the table and voice in the conversation — no matter where, when or how — will improve your overall workplace culture and productivity. 

The first step is to evaluate how inclusive your organization actually is, which requires employee feedback. You should then take comments from your employees and gather members of your human resources, executive management, and legal departments to assess current activities and measure current success.  

The next step is to set your particular inclusion goals and put a sustainable plan in place. How can we as an organization, branch, or department be more inviting, open and collaborative? Look for incremental, attainable steps you can put into place to achieve your goal over time. Be sure your plan includes milestones and checks and balances to maintain momentum and ensure accountability.  

You’ll also want to consider who’s delivering the messages surrounding the goals the team sets, and how you get the message out to your employees. You want a spokesperson who is genuine, well-perceived, and respected both within and outside of the organization. Choosing the best spokesperson paves the path for encouraging open, two-way communication between workers and management, which is also critical.  

Leading for equity: resources and authenticity 

Equity is creating a level playing field. Each employee’s background is colored by a different upbringing and experience, whether that be socioeconomic, cultural, or otherwise. In an equitable environment, each employee doesn’t receive the exact same resources; each employee receives the resources they need to be successful in their role. Some may require more support than others, which may seem unfair. This is why equity can be the hardest to achieve in a workplace: It depends on management establishing a culture of understanding so that employees receive the support they need, which is different from having an unfair advantage.  

This is not a new concept in employment law. The Americans with Disabilities Act employs the same logic: An employee with a disability receives an accommodation in order to perform their job. Equitable distribution of resources should be considered similarly.  

Here are some tactics that can support an inclusive, equitable environment: 

Check unconscious biases: Everyone has unconscious biases. It’s unavoidable. Once we are mindful that these exist, we can begin to identify them. It is crucial for management to set a tone that erases the stigma and shame associated with having these biases. Then, we can move forward with addressing these biases. What more information do we need? What can we do to better educate ourselves? How can we eliminatebias in our actions and words? 

Unmask microaggressions: Microaggressions are casual, often offhand, verbal behavior, or environmental comments or actions, intentional or not, that represent hostile, derogatory or negative slights or insults that target person or group. Frequently, the offending party is unaware they have done something that might hurt or offend a colleague. For this reason, identifying microagressions can be difficult, but doing so represents a crucial step to developing an inclusive environment where all employees feel safe and valued in order to do their best work. Leadership and HR should craft a thoughtful process for managing these conversations with sincerity, care and discretion. 

Avoid the ‘diversity tax:’ Once a workforce does include representation of diverse groups, a tendency may arise to look to diverse employees for input and guidance on how to handle certain issues. While those employees should certainly be invited to participate in important conversations, management should be mindful that the “burden of education” doesn’t fall disproportionately or by default to any specific employees. Managers can and should avail themselves of ample free educational resources to build thoughtful, respectful processes and programs.  

Provide a safe space for underrepresented employees: Creating a safe, positive environment where every employee feels seen, respected and valued is the ultimate goal for an equitable workplace. When employees are able to bring their authentic selves to work, they are more productive, more fulfilled, and likely to remain in their current role. Nurturing this environment takes time and authenticity on management’s part as well, to earn the trust necessary for employees to feel respected for being who they are to “bring their A-game” every day. 

Leading for wellness: Employees aren’t robots 

The recent year has proven that employers must recognize the struggles that people are facing. More than 18 months of a pandemic and racial justice reckoning, complicated by the blurred lines inherent in working from home, have illustrated acutely that our previous trend of leaving wellness to “personal time” is not sufficient. Many finance companies have publicly invested heavily in their employees’ overall health and well-being, whether that’s physical, mental, emotional or financial. 

For many minority employees, this year has been both particularly difficult and instructive. Recent research has shown that many employees of color, members of the LBGTQ population and others are much more comfortable working from home and are therefore reluctant to return to the workplace because at home, the need to “code-switch” is minimized. “Code-switching” refers to the pressure nontraditional or underrepresented workers feel to switch aspects of their personality on or off in order to conform to what may be more traditional office norms, leading many to feel alienated or disenfranchised. 

This highlights the intersection between developing an equitable workplace environment and supporting employees’ mental and emotional health. Employers who focus on their staff’s well-being — whether through programs that encourage camaraderie and connection or motivate workers to be mindful of their physical health — will often find they have more cohesive, efficient teams. 

Shifts in workplace culture are not accomplished easily or quickly. However, employers who are sincere about taking steps that reflect their employees’ input and wishes will see success in building a 21st-century workplace. 

Mag Bickford advises employers on best practices in the workplace and on drafting and implementing effective policies and procedures, and represents businesses and management in labor and employment litigation and. She is a Member (Partner) in McGlinchey’s New Orleans office and chairs the firm’s Labor and Employment practice.

Camille Bryant is a Member (Partner) in McGlinchey’s Labor and Employment practice group. Based in our New Orleans office, she guides employers through a wide range of employment law issues, whether through litigation or advice and counsel. 

Tags: Compliance InsiderDiversity and inclusionmanagementmcglinchey
Previous Post

High buyback values create silver lining for lenders

Next Post

Fed signals bond-buying taper may start soon, split on 2022 hike

Related Posts

A seal at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C.
Compliance

CFPB priority shift won’t absolve lenders 

May 1, 2025
A Wells Fargo bank branch in New York
Compliance

Wells Fargo says CFPB ends consent order dating back to 2018

April 28, 2025

TECHNOLOGY

Image by Upstart

Upstart auto originations surge 369%

May 8, 2025
(Courtesy/Canva)

9 companies compete for Best in Show at Auto Finance Summit East

April 29, 2025

sponsored by InformedIQ

RISK MANAGEMENT

Cars in a tourist jam

House bill introduces $2,500 car loan interest tax deduction 

May 8, 2025
Used cars for sale

Tricolor’s Eduardo Perez joins Auto Finance Summit East 2025 

May 8, 2025

COMPLIANCE

A seal at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C.

CFPB priority shift won’t absolve lenders 

May 1, 2025
A Wells Fargo bank branch in New York

Wells Fargo says CFPB ends consent order dating back to 2018

April 28, 2025

SPONSORED

The Hidden Bottlenecks in Dealership Financing—And How to Fix Them Fast

April 28, 2025

Tax Refund Season is Here—Is Your Dealership Ready to Handle the Surge?

March 13, 2025

The Future of Dealer Commercial Lending: Mastering Inventory Risk Management

March 3, 2025

Subscribe to Our Newsletters

PowerSports Finance

Next Post
Photographer: Stefani Reynolds/Bloomberg

Fed signals bond-buying taper may start soon, split on 2022 hike

Resources

ABOUT US

HELP CENTER

ADVERTISE

PRIVACY TERMS

ADA COMPLIANCE

CODE OF JOURNALISM ETHICS

Manage Cookie Consent

Special Content

EXECUTIVES OF THE YEAR

AUTO FINANCE EXCELLENCE AWARDS

MAGAZINE ARCHIVE

INDUSTRY GLOSSARY

Follow Us

facebook linkedin twitter podcast podcast
© 2025 Royal Media
No Result
View All Result
  • Home
  • News
    • All News
    • Capital & Funding
    • EVs
    • Technology
    • Management
    • Powersports Finance News
    • Risk Management
    • Sales & Marketing
  • Events
    • Auto Finance Summit East
    • Equipment Finance Connect
    • Auto Finance Summit
    • PowerSports Finance Summit
  • Features
    • Latest Issue
    • Features
    • New Tracks
    • Car Culture
    • Staffing Shuffles
    • Under The Hood
    • Spotlight
    • Issue Archive
  • Webinar
  • Podcast
  • Big Wheels Data
  • SUBSCRIBE
  • Log In / Account

No Result
View All Result
  • Home
  • News
    • All News
    • Capital & Funding
    • EVs
    • Technology
    • Management
    • Powersports Finance News
    • Risk Management
    • Sales & Marketing
  • Events
    • Auto Finance Summit East
    • Equipment Finance Connect
    • Auto Finance Summit
    • PowerSports Finance Summit
  • Features
    • Latest Issue
    • Features
    • New Tracks
    • Car Culture
    • Staffing Shuffles
    • Under The Hood
    • Spotlight
    • Issue Archive
  • Webinar
  • Podcast
  • Big Wheels Data
  • SUBSCRIBE
  • Log In / Account

THIS WEBSITE USES COOKIES

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I CONSENT”, you consent to the use of ALL the cookies.

Cookie settingsI CONSENT

Review our Cookie Policies
.
Manage Cookie Consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
34f6831605sessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
a64cedc0bfsessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
CookieConsentPolicy1 yearUsed to apply end-user cookie consent preferences set by our client-side utility.
cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
crmcsrsessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
JSESSIONIDsessionThe JSESSIONID cookie is used by New Relic to store a session identifier so that New Relic can monitor session counts for an application.
LS_CSRF_TOKENsessionCloudflare sets this cookie to track users’ activities across multiple websites. It expires once the browser is closed.
LSKey-c$CookieConsentPolicy1 yearUsed to apply end-user cookie consent preferences set by our client-side utility.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
CookieDurationDescription
__cf_bm30 minutesThis cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
_zcsr_tmpsessionZoho sets this cookie for the login function on the website.
663a60c55dsessionThis cookie is related to Zoho (Customer Service) Chatbox
e188bc05fesessionThis cookie is set in relation to Zoho Campaigns
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
CookieDurationDescription
_ga2 yearsThe _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_gid1 dayInstalled by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT2 yearsYouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
vuid2 yearsVimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
CookieDurationDescription
__Host-GAPS2 yearsThis cookie allows the website to identify a user and provide enhanced functionality and personalisation.
_dc_gtm_UA-1038974-31 minuteUsed to help identify the visitors by either age, gender, or interests by DoubleClick - Google Tag Manager.
_fbp3 monthsThis cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website.
fr3 monthsFacebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
test_cookie15 minutesThe test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE5 months 27 daysA cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSCsessionYSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devicesneverYouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-idneverYouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt.innertube::nextIdneverThis cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requestsneverThis cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
CookieDurationDescription
caf_ipaddrsessionNo description available.
citysessionNo description available.
countrysessionNo description available.
gnt_eidsessionNo description available.
gnt_eu6 hoursNo description
iamcsrsessionZoho (Customer Support) sets this cookie and is used for tracking visitors (for performance purposes)
systemsessionNo description available.
traffic_targetsessionNo description available.
Save & Accept
Powered by CookieYes Logo