Young Enterprise boss urges financial firms on DE&I

Sharon Davies

Sharon Davies

By recruiting from areas with the fewest opportunities, firms can create a stronger talent pipeline, that reflects the diversity of communities they serve. 

Offering prospective employees paid – rather than unpaid – work experience placements is another tactic being adopted in more organisations.

Internships and work experience positions are imperative for young workers looking to build networks in the financial sector and must not be reserved only for the economically privileged or those who already benefit from a strong personal network.

By removing prejudices and boundaries, companies not only guarantee hiring the best talent but also gain insight from a wider variety of viewpoints and differing perspectives, enhancing their business proposition.

Moreover, studies have shown that diversity and inclusion in the workplace leads to increased innovation and improved business performance.

As seen with the Great Resignation, employers may face a new wave of resignations and struggle to retain talent if they are not able to ensure their workplace is more inclusive.

With environmental, social and governance issues continuing to rise, as an integral element of corporate agenda, companies must recognise the challenge in front of them.

It is up to them to facilitate opportunities for the next generation of workers which are truly reflective of the breadth of communities working across the UK.

Not only is this the right thing to do, it will bolster the UK’s financial services offering for years to come. 

Sharon Davies is the chief executive of Young Enterprise

There's still time to enter our Diversity In Finance Awards!

Now in their fourth year, the FTAdviser Diversity In Finance Awards are open for entries for the next two weeks. 

The DIFAs have been designed to celebrate individuals in financial services and UK financial services companies who have taken active steps towards a more inclusive, diverse and fair industry that works better for all stakeholders: colleagues, customers and the community.

Awards will be given to those individuals who have demonstrated their support for minority groups and their tireless efforts to promote and inspire those who are otherwise under-represented, as well as recognising companies whose policies, schemes or initiatives encourage and enable diversity in the workplace.

This is an opportunity for FCA-regulated, UK-based companies, large and small, to show how they are getting it right, and for employees to gain the recognition they deserve. For more information and to enter, click here.