How to implement a diverse and inclusive recruitment process in finance

Diversity and inclusion (D&I) have become increasingly important to businesses right across the UK, and the world. It has been the goal for many business leaders, to create a diverse and inclusive working environment, as many have cottoned-on to the fact that this approach will promote success. We have seen these changes in a number of ways, for example, there has been a drive within the finance industry to increase the number of women in management roles. However, even though this is a good step, more could, and should, be done to create a broader vision of a world where D&I are at the forefront of business strategy.

Step 1. Build your understanding of D&I

It is crucial that you understand what your company needs to achieve from D&I, and how it can help you to improve your business. All individuals, regardless of gender, race, disability or sexual orientation, should be given equal opportunities when looking for employment. 

Businesses who champion diversity are more successful, make better decisions, promote creativity and encourage innovation, and have a strengthened customer focus. All of these factors combined make it easier to attract and recruit the top talent in the industry. 

Step 2. Create and implement a D&I strategy

The two main drivers behind implementing a comprehensive D&I strategy are the culture of the business and how the business is perceived externally. In addition to this, companies that promote D&I attract a larger, more diverse pool of talented professionals. Therefore, in such a competitive market, it is crucial to have a reputation for promoting an inclusive working environment. Updating your careers page so it features examples of the environment that you offer is a good way to showcase the diversity within your business.

Unfortunately, not many job adverts are written with D&I considerations in mind. Do not underestimate the power of a well-written job advert, as this is the first impression the candidate will get of the position. If it is written badly or for a particular audience, it is likely that you will miss out on top talent that is suitable for the role. 

Furthermore, the interviewers that are meeting with potential candidates should showcase the diverse nature of your business, to highlight that there are opportunities available to everyone. It is important that the people who are interviewing candidates are invested in your D&I movement, as this will come through during the interview process.

Step 3. Track your progress

Businesses that want to implement an effective D&I programme should set clear and measurable targets. This development will support your business goals and drive the agenda forward. Looking at areas of the business that need the most support, will highlight the areas you should work on first. Developing a plan to improve your D&I gradually will allow you to reach milestones and achieve goals at a constant pace.

Step 4. Celebrate your successes

Celebrating the developments of D&I with the wider organisation will set the standard for other departments and showcases the importance of diversity. Celebrating your successes will promote the changes you are making within the organisation to the wider community and may attract top talent to your business in the future. 

If you would like to discuss how we can help you to adopt a more diverse and inclusive recruitment process, please get in touch with your local Page Personnel office. Alternatively, submit a job spec today if you are looking to hire top talent in your sector.