Time and time again, clients have told me that our employees are BNY Mellon’s greatest asset, and I couldn’t agree more.
Our people play a critical role in advancing BNY Mellon’s growth agenda. It’s up to us to realize our vision to be the trusted financial institution for clients and employees. Trust shapes our value proposition, deepens relationships, and grants us opportunities to grow the business. Few are in a position to define trust. But we are.
We’re creating more opportunities for career development and mobility — in fact, this is a ONE BNY Mellon value proposition for employees — and we’re improving experiences by investing in new technology capabilities that drive performance. We also introduced the Meeting You in Your Life Moments initiative, which encompasses programs that enable life balance, resilience and productivity.
We refreshed and codified our values, and the behaviors expected of each of us, so that no matter our role, we know how to deliver exceptional outcomes.
Perhaps our biggest priority is to foster a diverse, inclusive environment that reflects our vibrant society, inspires a sense of belonging and gives everyone a fair opportunity to achieve their potential.
We have tangible metrics to attract, advance and retain diverse talent. We set concrete, short-term goals to accelerate progress in our most underrepresented ethnic/racial talent populations in the U.S. and position our firm as a competitive choice with Black and Hispanic/Latino graduates and experienced professionals. As I stated in our 2020 report, our goals are to increase the following in the U.S. by year end 2023:
- Increasing Black representation by 15% to 12%
- Increasing Black representation of senior leaders by 30% to over 4%
- Increasing Latinx representation by 15% to almost 8%
- Increasing Latinx representation of senior Leaders by 30% to over 5.5%
We’ve also pledged to increase women's representation in the EMEA region to 33% by 2025, from 28%, with an emphasis on improving senior and mid-level leader pipelines.
Our gender equity efforts have led to some bright spots, with year-over-year growth in women among new hires and senior leaders globally, and an increase in women representation on our Board. In fact, our slate of independent directors is one of the most diverse in the industry and among large public companies, with 31% women and 39% of underrepresented ethnic/racial backgrounds. Among the members of my leadership team, 39% are women and 28% are from underrepresented ethnic/racial backgrounds. I’m proud of the diversity in our leadership, and aware we have much work to do to make similar progress throughout our workforce.
Since increased diversity alone won’t improve an organization, we have been equipping our people with the skills to recognize when others are missing or excluded and to bring them into the conversation. For example, we offered additional training for managers to strengthen inclusive hiring and performance management capability, and delivered continuous learning at scale through Diversity, Equity & Inclusion Academy courses, best practice guides and team-building resources. This year, we will be initiating inclusion efforts to better engage with and create career paths for neurodiverse talent, including those on the autism spectrum.
Employees themselves are leading the way for better inclusion and visibility. One in four employees is a member of a BNY Mellon employee or business resource group (E/BRG), which are formed around shared characteristics and open to all. E/BRGs collaborated with our Office of Diversity, Equity and Inclusion to host meaningful conversations and workshops about implicit bias, intersectionality, allyship and belonging. The groups also engaged with professional organizations, nonprofits and institutions such as historically Black universities and colleges to widen our recruiting, develop top talent and make an impact in our communities.
In an increasingly diverse world, the future belongs to the inclusive enterprise. That’s the challenge we’re rising to, and why we are ensuring that diversity, equity and inclusion are woven into the fabric of our organizational culture.