Organizations are harbouring diversity to reap the potential benefits associated with a highly vibrant and inclusive environment. Homogenous workforces often suffer from not being able to have a 360-degree approach to problem-solving and recruiters are looking at diversity to ignite the spark that fosters innovation and creativity. While minority groups are slowly occupying a slew of positions in the banking and financial services industry, there is definitely scope for improvement.
Diversity has been a pressing issue for almost every industry and recruiters are constantly looking to diversify their talent pool to reap the benefits of a highly diverse workforce. Our analysis of the banking and financial services industry reveals an average gender diversity of 41% and ethnic diversity of 35%. Among top US banks, Bank of America and American Express emerged as top institutions that have highly diverse workforces with a healthy mix of gender and ethnic diversity.
BB&T Corporation has the best gender diversity while Barclays PLC earned an ethnic-diversity score of 44%. Among the top 10 financial services companies in the US, 24% of all top-level positions (VP and above) are being held by women. This periodic increase in women representation at the leadership level has given rise to diverse roles across financial organizations at various levels over the last 10 years.
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