Improving Your 'Inclusion Index'
The MBA article, “Improving Your 'Inclusion Index'", quoted Russell Reynolds Associates Consultants Erin Zolna and Gary Hayes on their thoughts about diversity and inclusion. The article is excerpted below.
WASHINGTON--What is the difference between "diversity" and "inclusion?"
It's one thing to have a diverse workforce, says Erin Zolna, member of the leadership and succession sector with Russell Reynolds Associates, New York. It's another thing, she said here at the recent MBA Diversity & Inclusion Summit, to unleash its power within an inclusive culture.
Inclusion, Zolna said, is establishment of an environment that creates opportunities for all employees to realize their unique potential, thereby improving the success of the company.
"A focus on inclusion does not mean less focus on diversity," Zolna said.
"The times are changing," said Gary Hayes, member of the leadership and succession sector with Russell Reynolds. "In 2016, 38 percent of homeowners were from diverse backgrounds. By 2060, that figure will jump to 56 percent. This has enormous implications for how the mortgage industry approaches how it lends and services loans."
Russell Reynolds research found despite this increase in diversity and recognition of such, the real estate finance industry continues to lag in improving its diversity and inclusion efforts--particularly at the senior levels of lender/servicer organizations. While the entry level for females, for example, is at nearly 50 percent of new employees, the rise to senior level is much slower, to just 20 percent.
To read the full article, click here.