Why Workers’ Compensation Needs DEI Now

By Margaret Spence

As an industry, the number of diverse, talented people in executive leadership is dismal, our pipeline of ready-now leaders is leaking, our marketplace is demanding that we change, and the next generation of employees want to see diversity now. A culture of inclusion is necessary to foster equitable opportunities for all employees to grow and thrive.

The past year has shown us why we must move diversity beyond lofty policies and mission statements to sustainable visual actions. So how do you build and sustain a culture of inclusion while adding diverse talent to your teams? What lessons should we learn? What partnerships should we create? For example, in a recent study by McKinsey and LeanIn, they found that achieving gender diversity across the pipeline will require insurance companies to address the unequal promotion rates from entry-level to manager—the broken rung.

Seeing the big picture, the connection between market segments and a diverse team is crucial for every insurance organization and vendor supplier. As your corporate clients demand visible diverse leaders, what will you do as an industry leader to build diverse teams and inclusion capacity…now? How will you partner with educational institutions to create effective talent pipelines?

Eight Questions Every Workers’ Compensation Organization Must Contemplate:

  • How do you move inclusion beyond lofty policies and mission statements to sustainable visual actions that include recruiting, retaining, developing, and advancing diverse talent into leadership?
  • How do you create public/private partnerships with educational institutions to build practical talents pipelines and internships that provide next-generation leaders with career opportunities?
  • What can you do to solidly focus on diversity and inclusion as the core mission of your corporate social responsibility?
  • How do you demonstrate organizational commitment to diversity and inclusion?
  • Beyond awareness of equity gaps, what can your organization do to not only build a diversity and inclusion program but create a culture of inclusion?
  • How do you deploy cultural intelligence to build sustainable DEI programs?
  • What initiatives will you champion, and what results should we expect when implementing DEI?
  • What will you do to build a comprehensive strategy to maintain a high-performing workforce that reflects and supports the diversity within the communities we serve?

Join us on Monday, December 13th at 9 am for the inaugural DEI Summit and Roundtable at the WCI Annual Conference, and we will tackle these questions and many more.

We will focus on concrete steps that any organization can take, at any size, to build a sustainable diversity and inclusion culture. We will help you learn how to successfully facilitate diversity initiatives and activities that have a measurable impact on your company’s growth and employee performance. Building a diversity program that significantly affects performance is not complicated; however, many initiatives fail to influence change – you will learn from your peers what works and what doesn’t.

This roundtable is your opportunity to learn from your peers and build a new vision for diverse and inclusive Workers’ Compensation workspaces.

About Margaret Spence:

For twenty-two years, Margaret has led the business-advisory firm, C. Douglas & Associates, as their CEO. She is the founder of The Inclusion Learning Lab. Her firm specializes in human resources compliance, talent development, diversity and inclusion, and women’s leadership development. With more than thirty-six years in the insurance industry, Margaret has a demonstrated understanding of the industry. She understands that the most significant issue for the industry is long-term talent development. Her focus making the insurance industry leadership and ranks more diverse while attracting younger employees to the industry. The Inclusion Learning Lab drives change through advocacy, education, research, community, and action to solve the greatest challenge of our time – creating a more inclusive work environment. We help organizations create deliberately inclusive workplaces because diversity wins when inclusion is elevated.   Visit our website – www.InclusionLearningLab.com