Advisory council for Financing a Sustainable Future shares workplace insights. This editorial article is part of Financing a SustainableFuture series in partnership with BofA_News.
Companies were forced to change their relationship with employees during the pandemic, leading to policy changes and new investment in the workplace.
While there is a broad consensus on the need to urgently intervene to provide relief for women and underserved communities, governments and businesses have the opportunity to go one step beyond, to build the kind of resilience across every group of the population that will outlast any pandemic. Companies need to measure the impact they are creating internally on their workforce, and outside through its operations. The act of measuring their impact has to go beyond 'check boxes', and the top-down ESG approach.
"Organizations need strong leaders that prioritize diversity, equity, and inclusion in their policies and culture and provide tangible support for the women in their workforces."Deloitte; Edited by Kazi Awal/In That being said, there are specific steps that organizations can take to strengthen their relationship with their female workforce and not lose top talent. First, the report found that leaders that get it right work to create and maintain an inclusive everyday culture, where non-inclusive behaviors are not tolerated, and where women feel able to raise concerns without fear of reprisal.
"For companies to continue to thrive following the pandemic and the social catalysts of 2020, leadership needs to embrace and champion diverse representation, backgrounds, and ideas."Bank of America; Edited by Kazi Awal/Insider We also believe companies need to build strong and diverse talent pipelines. One way to do that is through our campus recruiting programs, where we attract future leaders and develop promising young talent who serve our clients and local communities every day. Their diverse thought-leadership is valued and is what helps push our company forward.
"We will see more systemic changes that will pivot us all to potential, instead of degrees or even skills."When we look at overall job-market data trends – open jobs exceeding the number of job seekers, escalating attrition rates across companies, or the continued lack of participation in the workforce — it's clear that we're missing something.
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