Diversity, equity, and inclusivity (DEI) in an organisation help bring unique perspectives and ideas to create more innovative, productive, and resilient enterprises. It also contributes to equality of opportunity and treatment in the workplace at all stages of the employment relationship, including recruitment, retention, promotion, remuneration, and access to training and skills development.
The gender gap in organisations over the past three decades has narrowed, attributed to labour mobility worldwide. There has been an increasing global awareness that all workers have a right to a dignified and respectful workplace irrespective of their sexual orientation and ethnicity, which creates an environment of an open and inclusive workplace. However, labour market disruption due to the COVID-19 has had overwhelming consequences globally. Women’s employment declined by 5% globally in 2020 compared with around 4% for men according to International Labour Organization (ILO).
Globally, banks are reporting diversity and inclusivity to ensure that all genders and backgrounds have 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.
Credit Suisse Group AG (Credit Suisse) is a provider of integrated financial solutions. It offers investment banking, private banking, and asset management solutions. In 2021, the company reported 40% women participation in its workforce, an increase of 0.6 percentage points over 2020. Representation of women in the company at the senior management level was 28.7% which increased by 0.9 percentage points over 2020.
In 2021, the representation of Asian employees in the US workforce was 25.4% which increased 3.2 percentage points from 2020. Black & African American and Hispanic & Latino employees represented 5.3% and 5.1% of the US workforce, respectively. The representation of Asian employees in the UK workforce was 17.7%, an increase of 0.8 percentage points over 2020. Black & African American employees represented 2.6% of the UK workforce.
Credit Suisse has set a target to increase overall women’s representation to 42% by 2024. The company has joined The Valuable 500, a global movement to put disability on the business agenda, in January 2021 as part of its commitment to inclusion.
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