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Diversity in Financial Services:
Holding American Banks Accountable

It's time to act before Congress introduces new legislation.

Stakeholders across the spectrum, from regulators and lawmakers to employees and consumers are demanding change to how financial services firms represent and support diverse groups in their communities.

The Committee on Financial Services in the U.S. House of Representatives report, "Diversity and Inclusion: Holding America’s Large Banks Accountable Report" found:

  • Banks’ boards of directors are not diverse;

  • Banks’ senior employees are not diverse; and,

  • Banks have limited spending and investments with diverse firms.

And Congress is going to enforce action with further legislation to drive transparency on D&I initiatives.

It's critical that those responsible for recruiting within financial services firms look beyond traditional sourcing methods to consider new and innovative ways to increase representation amongst their employees to get ahead of incoming legislation.

“Companies in the top-quartile for gender diversity on executive teams were 21% more likely to outperform on profitability...

 

"Unfortunately, biases against women and underrepresented minorities perpetuate the lack of gender, racial, and ethnic diversity within the financial services industry,"

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Organizations using Headstart achieve outsized results and immediate ROI, including:

  • Rapid increase in diverse representation of graduate intakes
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  • Over 50% lower cost-per-hire compared to a traditional hiring and screening process

How does Headstart work?

Want to learn more?

Request more information today and find out how Headstart could help your organization improve diverse hiring.