Dominic Christian, Chair Inclusion at Lloyd’s and CEO of Aon UK said, our world, as we know it, is growing in complexity and uncertainty. With this, he reminds us that keeping pace with the rate of change from a risk perspective is a challenge that needs the brightest and most innovative minds.
“The diversity dividend is how we characterise the business benefits of being able to attract and inspire talented people to build their careers in risk and insurance. Talent does not fit stereotypes. If we keep hiring based on the existing templates, we will not evolve fast enough to thrive as an industry. We need open minds and inclusive workplace cultures to ensure that the people we need are attracted to working in our businesses,” said Christian.
Sharing best practice
With an aim to share best practice in diversity and inclusion, Aon South Africa, AIG, Allianz, Chubb, Marsh and Willis Towers Watson participated in a global industry Diversity and Inclusion Festival initiated by Lloyds of London called Dive-in.
FAnews recently attended the Dive-In Festival, a first of its kind in South Africa at the Bowman’s Auditorium in Sandton. The event touched upon the importance of diverse and inclusive workplaces, providing practical ideas and inspiration for how to bring about positive change.
The event boasted themes including differing ability and disabilities, transformation, gender in the workplace, intergenerational dialogue and diversity winning work behaviours. A panel of industry experts and leaders discussed topics around the proposed themes addressed, including the progress made with diversity in the industry, why there is a need for diversity within the industry and the benefits of diversity and inclusivity.
Are we paying attention?
Transformation, diversity and inclusion in the business arena remain a necessity and challenge within the South African business landscape and Stanley Isaac Bongwe, the Founder and Director of The Diversity Institute, asked if we are paying attention to what is happening around us and if we are curious about learning about diversity.
“People define diversity in many different ways. Diversity to me is not about how different we are. It is about overcoming our inhibitors towards diverse others, understanding and respecting one another and realising how strong we can become because of our difference and how effective we can be in spite of our differences. Diversity is those sets of attitudes and behaviours that produce the desired results for the individual, work teams, customers and organisations,” said Bongwe.
“If we do not have good work teams we cannot achieve much. Employees will not be productive as an organisation would like them to be because they are not happy. Disgruntled individuals in the workplace, for example, will resign psychologically and disengage from the company mentally if they are unhappy,” he continued.
“Winning teams create winning organisations and winning organisations create winning societies. In the work environment we work as a team and we start thinking and behaving like we are in a tribe. So it is important to look at your attitude and behaviour towards others. It all starts with us as individuals. The way we view other people will help us interact and collaborate effectively. It is about our mind set and behaviour based on what we think and how we treat others,” said Bongwe.
“We do not have to be friends in the workplace but we must have relationships of mutual understanding and respect. Diversity is about respect, fairness and human equality. It is about the ability to see into the future and partake in legacy creation. It is about being a genuine role model and getting the balance right,” Bongwe concluded.
Part of an organisation’s DNA
Transformation in the industry begins with the boards. “The board plays a key role in transformation and transformation should be part of the organisation’s DNA,” said Maya Makanjee, Independent Non-Executive Director at AIG.
“Boards are a starting point to drive transformation. It is about being open and curious in opening up the door to bringing in the diversity and different skills sets. Corporate culture will not change if it is not from the top down,” mentioned Kedibone Imathiu.
“The biggest role the board has is to create sustainability in the work environment. It is critical for the board to look at social inclusiveness and embracing diversity to create balance. In a work environment it is important to grow and sustain the eco-system. Bring in diverse people and also up-skill individuals to create sustainability,” said Angela Mhlanga, Managing Director, Standard Bank Insurance.
Annelot Schrijver, Broking Manager and Product Leader at Willis Towers Watson said, inclusivity and diversity are a worldwide phenomenon. It is not only an issue in South Africa.
“Evidently, companies with diverse gender boards are 16% more successful and companies are more successful when they are diverse. Diversity is filtered down from boards and our industry is diverse, just not inclusive,” said Schrijver.
“There are good skills out there but a lot are about to retire. So there is a generational gap. Millennials feel excluded. There is no skills transfer. Education, mentorships and learnerships are good starting point. Retirees with critical skills should also pass down the opportunity to up-skill new entrants,” concluded Schrijver.
In theory, as one author put it, leaders are the ones who set the tone from the top down, and they are the ones who must focus on and choose to be inclusive. After all, diversity is a fact, but inclusion is a choice.
Editor’s Thoughts:
It was clear from the discussion that we have made progress in South Africa but there is still a lot that needs to be done. Do you agree? If you have any questions please comment below, interact with us on Twitter at @fanews_online or email me - myra@fanews.co.za
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