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Charles Schwab: Workforce Diversity and Inclusion in 2021

Industry: Financial Services
Current: ESG

In 2021, Charles Schwab reported 36.6% women participation in its US office workforce
The representation of women in Charles Schwab at the senior management level was 24.8% in2021
In 2021, the representation of Asian employees in Charles Schwab offices in the US was 13.5%

Diversity, equity, and inclusion (DEI) in an organisation contribute to innovation, productivity, and resilience. Additionally, it contributes to equality of opportunity and treatment at all phases of the employment relationship, including recruitment, retention, promotion, remuneration, and training.

Gender gaps in organisations have narrowed over the past three decades due to labour mobility worldwide. In recent years, there has been an increased awareness that all workers have a right to a dignified and respectful workplace, regardless of ethnicity or sexual orientation. However, labour market disruption due to the COVID-19 has had devastating consequences globally. Globally, women's employment declined by 5% in 2021, compared with around 4% for men, according to the International Labour Organization (ILO).

Banks report diversity and inclusivity to ensure a more equitable and inclusive workplace. Companies and banks benefit from a diverse workforce by attracting new customers as people want to do business with institutions that share their values.

The Charles Schwab Corp (Charles Schwab) is a savings and loan holding company that offers financial services, primarily investment solutions. In 2021, Charles Schwab reported 36.6% women participation in its US office workforce. In leadership roles, the representation of women was 24.8% during the same year.

In 2021, the representation of Asian employees in the Charles Schwab offices in the US was 13.5%. Hispanic and Black employees represented 11.3% and 6.9% of the workforce.

The Charles Schwab Foundation donated $500,000 to three Historically Black Colleges and Universities (HBCUs): Bethune-Cookman University, North Carolina Agriculture and Technical State University, and Prairie View A&M University.

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