Diversity, equity, and inclusivity (DEI) at the leadership level promote innovative thinking, a wider range of skill sets, and advanced company culture. 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. Active discussion of race in the workplace, revisiting the hiring process, investing in BAME employees’ career progression, and establishing a culture of mentoring are a few ways by which to enact change in racial diversity in the workplace.
There has also been increasing global awareness regarding the right to a dignified and respectful workplace irrespective of the sexual orientation and ethnicity of the employees, which promotes an open and inclusive workplace.
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.
HSBC Holdings Plc (HSBC) is a provider of banking and financial solutions. It offers retail, business, commercial banking, private banking, and wealth management services through its subsidiaries. In 2021, the representation of Asian employees in the US HSBC office was 22.9% which decreased by 0.4 percentage points from 2020. Black & African American and Hispanic & Latino employees represented 7.2% and 10% of the US workforce, respectively.
In leadership roles at HSBC’s US office, the representation of Asian employees was 15% in 2021. Black & African American employees represented 2.7% and Hispanic & Latinx employees represented 6.2% at senior levels in the US workforce in 2021.
HSBC has set a goal of doubling the number of black employees in senior leadership roles by 2025.
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