The foundation of change
How can benefits companies and the industry as a whole make true progress when it comes to increasing diversity and inclusion?
For years, carriers and brokerages have touted the importance of increasing diversity, yet our industry still has an incredibly high inequality rate. We asked our readers what kind of conversations they are having with other brokers, with clients and within your businesses to address this problem, and how can benefits companies and the industry as a whole make true progress? Here’s what you said:
Wanted: actual action
The conversation around diversity, or the lack thereof, is a common theme throughout many industries. As a Black professional within the benefits community, I feel the start of any progressive conversation entails acknowledgment of the specific lack of diversity. Open conversation is the foundation of change. I encourage that open dialogue with clients and within my organization. Many firms do a fantastic job of acknowledging the diversity challenge.
Related: Diversity, inclusion and belonging: How do we get there?
But acknowledgment is just the start. There is no perfect answer, but I think the inclusion of minorities in the discussion on a corporate level is an appropriate next step. Many firms consider creating a diversity board, which often ironically lacks diversity. If we are to commit to addressing this issue, we need to incorporate those who we seek to affect. That is how we find out the facets we may be missing. Asking targeted questions about what appeals to this demographic, where we can find qualified individuals, and maybe most importantly, how we can attract and retain this demographic. But that starts with having very specific conversations to better understand whatever demographic we are trying to attain.
What seems obvious to some may not be to others who possess the knowledge to recommend these solutions. For example, there are more than five historically Black colleges within a three-state radius of Maryland. Yet how many firms actively recruit on HBCU campuses? The solutions are there. The conversation is only a start. As with any business plan, goal or aspiration, the next step must be actual action.
Kai Williams, employee benefits advisor, PSA Insurance & Financial Services
Open conversations
I consider myself blessed to be a part of an organization that understands there are cultural differences, depending upon someone’s color of skin. For a long time, people have been taught to say “I don’t see color,” but I believe color makes a big difference in how the world sees you. I recently found myself in a conversation with our principal, Cary Goss, who is white, myself (Hispanic) and a candidate for our organization who is Black. From the moment we sat down, we attacked the issue that has taken our country by storm. The question: How are you doing?
And what are your thoughts about what has been going on in our country and the racial issues we find ourselves dealing with?
Everyone has a platform now to ask hard questions and get into a conversation with people from all backgrounds and genuinely get to know them on another level.
Most people don’t want to be given something for free, but they want a chance to earn it and work hard for it. Personally, I needed someone to see my potential and be willing to manage me differently because of that untapped potential. Once I had the belief and the support, the rest has been history. Take a chance on someone with a different background, regardless of whether they know the industry or not. Take time to teach that individual why this industry is still a diamond in the rough.
As for companies wanting to make progress, I think they all need to reflect on their hiring process, look around their offices and, if they all look the same, they need to start asking themselves why. In this day in age, diversity should be in every company and it shouldn’t have to be an initiative, because there are plenty of qualified individuals of all colors who would benefit every company.
We spend a large amount of time with our colleagues and I know I want to be in an organization that speaks openly about every situation. I think this is something that is missing and I intend to change that by respecting other’s opinions and feeling grateful for the conversation.
Fernando Martinez, executive benefits advisor, Clarus Benefits Group
A work in progress
Creating a diverse environment is a constant work in progress. Being an Asian Indian female (born in East Africa and raised in India), who forged my way into a male-dominated industry in Southern Louisiana, I learned early on that “thinking outside the box” was key to being successful and creating a presence. I built a firm on the principles of tenacity and empowerment, establishing a challenging, energetic and rewarding culture within my organization.
In order to facilitate more diversity, it’s crucial to be willing to change and create something new or different. Remind yourself that there are no successes without failures, work harder, create a positive mindset, and operate with greater purpose. Furthermore, mentorship is key, as my daughter who joined the industry nine years ago, will attest. Finding young talent, providing them with exposure, creating visible and meaningful opportunities with a career path, and rolling up your sleeves to share the load stimulates mutual respect and open communication.
Learn to raise motivation levels, celebrate achievements, embrace different approaches and skillsets and together, we will prosper.
Rina Tikia, President/CEO, Tikia Consulting Group
Be a part of the solution
I don’t think brokers and their clients are really having these discussions within the insurance community as a whole. I have relationships with people of various ethnic backgrounds who have shared their experiences with me and I have also experienced the inequality first-hand. To me, the level of inequality has improved slightly over the years, but not much. I live and work in a very diverse state, so hiring minorities is easier and more common. The jobs in which I see most minorities are in sales, underwriting, administrative and low-level management positions. At mid-level and senior-level management positions, on the other hand, you seldom see minorities.
I have tried to be a part of the solution and hire a diverse staff. It is incumbent upon us to be the change in this industry. There are talented people of all cultures and races and we need to improve how we look for people. Some of the ways we use that I recommend for other industry leaders include:
1. Changing your hiring policy. Make a concerted effort to go after talented minorities. Create mentorship programs to help people succeed.
2. Improve company culture by creating a healthy working environment that encourages diversity and regularly celebrates the talents and accomplishments of staff.
3. Focus on better communication all around. Open up honest dialogue that encourages employees to not be afraid to talk about the challenges that may arise as they work together, and work on how to improve the environment for all.
4. Emphasize diversity training and encourage work experience mentorship programs.
5. Commit to being an intentional decision-maker to help improve the environment and lead by example.
I am not by any means an expert on these things, but I think if we all try to improve, over time, this can evolve into a more inclusive and productive environment for all.
Donny Woo, CEO, Combined CA
Removing the stigma
This is a very deep issue, as the industry is still very much made up of “old white dudes.” I have been in the benefits industry for nearly 35 years and can still clearly remember attending one of my first Washington State Health Underwriter events in my mid-20s. There were about 20 women out of 500 attendees. And most of the women in attendance were carrier reps or account managers. And we still haven’t made much progress. Why do we have to have a separate list to honor top women in advising?
As a business owner, I have employed a variety of people, including those of color, over the years. We need to hire based on talent and the ability to do the job.
Why don’t we utilize an approach like “The Voice” and have “blind” phone interviews before we do anything else? Wouldn’t this remove a great deal of the first impression stigma that might occur if someone looks different from us?
We need to be inclusive and provide opportunities for mentorship.
Nancy Giacolone, president and owner, Olympic Crest Insurance, Inc.
Start with why
The lack of diversity in our industry is a 100% correlated to exposure. People tend to associate with, and have influence over, people who look like them. With this foundational truth, the fact that our industry continues to be dominated by white males should come as no surprise to anyone.
Here’s another question to ponder: What have we done to expose the industry to the next generation, more minorities, women, and to the world?
I think this can be addressed by asking, “Why is what we do important? Do you think it’s important?” Both my parents lost battles with cancer. I have seen firsthand the need for our industry.
I got my degree in risk management/insurance and helped get over 20 of my Pi Kappa Phi Fraternity brothers into the industry. I sit on the board of directors for the college and mentor a student every semester. I speak in classrooms every year telling the new generation just how amazing our industry is and all the opportunities it provides. Recently, I helped start a networking group of minorities looking to create a more diverse industry. A shout out to Felipe Barganier, Kareim Cade, Rey Colon, Dr. James Pinckney, Greg King and Antione Turner for partnering with me to start a movement of change.
My call to action: figure out why you are in the business. If that makes you feel proud, go share it with the world. If we all start with our “why” and ensure we are sharing it with the world, change will occur. If we don’t make this change, our industry, and the results we produce, will continue to remain the same. We are better than that, and our “why” should be the driving force.
Lester Morales, founder and CEO, Next Impact LLC
A melting pot
Creating an environment of diversity and inclusion is preached, but it can be difficult to put into practice. Implementing cookie-cutter policies is not sufficient to make meaningful changes. Initially, I recommend that my peers in the industry find some of the issues that stem from diversity in the workplace by reviewing existing company policies and training, and developing and implementing new ones that are relevant to the issues at hand. This can help diversity leaders establish a culture of acceptance within an organization and integrate diversity-related initiatives into the mission statement and onboarding process.
Our world is increasingly more diverse and benefits firms have a presence across several continents, many countries and target hundreds of different markets. Companies must mirror the diversity of their customers in order to understand and meet their needs. Research shows that talented candidates from under-represented groups will be an asset to companies. So it is essential for benefits companies to train their executives and upper management on the importance of diversity for business success.
As a benefits advisor in the industry for more than 19 years, I help champion diversity by engaging with many small and mid-size companies on diversity training programs that can benefit an organization in a number of ways, including increasing productivity, retention and engagement. You have to fully understand the importance of diversity in order to embrace all kinds of people who will bring value to the industry.
Tommy Tan, consultant, Lockton Companies
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