DEI as a Strategic Initiative for Success in 2022
Credit unions are becoming more aware of the importance of diversity, equity and inclusion, both from a human perspective and a business perspective. Business leaders know that DEI creates value for employees, members and organizations; few would disagree that diversity is the right thing to do. After all, social responsibility and non-discrimination are two of the Credit Union International Operating Principles.
Is your credit union elevating DEI as a strategic initiative?
Despite the growing awareness, it can be easy to overlook the importance of budgeting for appropriate DEI consulting, training and certification. Investing in a properly planned and executed DEI strategy provides an excellent ROI.
“The Seven Ways Highly Profitable Credit Unions Calculate the Value of DEI,” authored by CU Strategic Planning’s Chief Diversity and Inclusion Officer and Co-Owner Ronaldo Hardy, explains the measurable impacts that DEI can have on an organization, including:
higher quality employee recruitment and retention;
greater innovation and creativity;
improved member satisfaction;
As Q3 usually means planning the budgets for the following year, now is the time to consider your DEI plans. But where to begin? Hardy says that when making a commitment to DEI, it’s important to begin the right way for long-term results. “Often, credit union leaders want to go down that path of DEI but don’t know where to start. It’s important to know where all staff are at the beginning of the process; that’s why assessments are so important to obtain your credit union’s baseline.”
Everyone has implicit biases – that is natural – but assessments are key to uncovering them among your credit union’s team at all levels. CU Strategic Planning offers comprehensive assessments as a part of its DEI consulting, and is a perfect place to start. But for a credit union that is truly ready to do the work and demonstrate its commitment to DEI, CU Strategic Planning has introduced a comprehensive DEI Certification program. The first cohort has been formed and the program begins at the end of August.
Participants spend the first six months in assessment and intensive education and training.
The second six months consist of project design, development and deployment; the representatives will carry their knowledge back to their credit unions to begin to make an impact.
At the end of the 12 months, the credit union will receive an organization-wide DEI certification.
Next year’s programs will be larger, begin in February and July of 2022, and are accepting participants now; the February cohort has already begun to fill up. Now is the perfect time to look at your credit union’s DEI objectives and elevate initiatives to a strategic level!
Download our knowledge report now to learn more about the Seven Ways Highly Profitable Credit Unions Calculate the Value of DEI.
Would you like to schedule a call to determine your budget and strategic DEI needs? Contact us and we’ll be happy to set up a meeting.