Imagine being a woman at a military academy in the 1980s. You look around, and 93% of the people you see every day are men. Now imagine being a gay woman in the same position at a time when sexual orientation for either gender was grounds for military discharge.
That is the reality I experienced when I attended the U.S. Merchant Marine Academy, and later served as an officer in the U.S. Naval Reserves. Then, after sailing as the only woman on U.S. merchant ships, I entered marine insurance, which at the time was a male-dominated sector of the industry.
Thankfully, the world has changed. So has our industry, with many risk management and insurance organizations committing to gender diversity and LGBT+ initiatives as part of their diversity, equity and inclusion (DE&I) initiatives. Now, it is time for organizations to take the next step by fostering a spirit of allyship.
What Is Allyship?
By definition, allyship means positively advocating for and supporting people who are different than you, particularly those who face discrimination and inequality. It is not specific to the LGBT+ community, although that is where you may hear about it most often.
Allyship is about standing up for someone who is being marginalized on the job, and helping create a safe and welcoming environment. It is about personal accountability. The more industry professionals can help their colleagues become better allies to others, the more they will help give people from diverse backgrounds opportunities to succeed.
Being an ally doesn’t require making a grand gesture. Allyship happens when you take the time to listen and understand the challenges faced by a colleague who represents a different race or religion. It can happen when you show up at a business resource group (BRG) event in support of colleagues. It can also happen when you stop a colleague from telling an inappropriate joke, or when you ensure every voice is heard during a business meeting.
Fitting Allyship into Existing DE&I Initiatives
Many studies have shown a strong correlation between increased diversity in an organization and higher levels of innovation and improved financial results. Still, while U.S. Bureau of Labor Statistics data shows that women have made up about 60% of the insurance workforce for the past decade, women are 21% less likely to be promoted than men, according to McKinsey and Company.
You cannot create a spirit of allyship without first shoring up your DE&I initiatives. Risk managers and insurers can take three important steps to accomplish this. First, hold leadership accountable. Hardwiring gender diversity into your organization starts at the top. A good corporate leadership team will have specific DE&I goals they must achieve, and these can be directly tied to their compensation.
Second, measure your DE&I initiatives’ progress. If you do not provide clear benchmarks, then those initiatives will not succeed. For example, across the industry, some companies measure progress through professional development initiatives that help empower women and other underrepresented talent to accelerate their advancement.
Third, and most importantly, create formal and informal sponsorship opportunities. Men tend to form informal social networks early in their careers and develop relationships through shared experiences like golf outings. These relationships often lead to pay increases and promotions. Women, people of color and other groups do not often have those same opportunities. So, creating formal networks that can help people from similar backgrounds get to know each other personally and professionally helps to open the door for salary increases and promotions for everybody.
This is where employee resource groups (ERGs) and BRGs can play a leading role. Across the industry, companies are transforming ERGs into BRGs to reflect the fact that these groups directly support business goals. Leading insurers have BRGs representing gender equality, LGBT+, historically underrepresented racial and ethnic groups, and people with disabilities. Inclusion committees that provide a broader focus on all aspects of identity are also helpful to building an inclusive culture.
While every BRG is different, each one should address important topics like allyship and unconscious bias. Look for ways to make it easier for colleagues to discuss difficult topics. For example, at an LGBT+ group event, we did a “Family Feud” style game, asking What are the top 10 things you shouldn’t call gay people? These activities reinforce the fact that BRGs are safe places where colleagues can speak authentically.
Now is a perfect time to start BRGs in your organization. In recent years, BRGs have reached a broader audience during the pandemic as colleagues chose to join online events. New participation in BRGs has sparked robust and productive discussions about prejudice and social injustice.
How to Strengthen a Culture of Inclusivity
The talent crunch in the risk management and insurance industry is real. The recent Great Resignation has put added pressure on recruiting strong talent to our industry. Selling the value of risk management and insurance careers to more diverse, prospective entrants to insurance is an imperative.
Risk managers and all insurance industry professionals can step up to strengthen their organization’s DE&I efforts by educating themselves about diversity and working together with others in our industry. Organizations like the Insurance Industry Charitable Foundation (IICF) help to provide a voice for important issues around DE&I. They also keep creating a culture of inclusivity at the forefront for industry leadership. This month, IICF’s Inclusion in Insurance Regional Forums in New York, Los Angeles, Chicago and Dallas will help keep this conversation top-of-mind.
The good news is, as an industry, we are making progress. More insurance companies are added each year to the Human Rights Campaign’s Corporate Equality Index, a national benchmarking tool that grades companies on their corporate policies, practices and benefits pertinent to LGBT+ employees.
Taking the Next Step
When I was starting out in my professional career, I was fortunate that someone mentioned an opportunity in marine insurance to me. That connection helped me launch into an enriching career. However, we cannot rely solely on those one-off connections to build a more diverse workforce in the future. Having an ally or two early in one’s career can be quite beneficial.
Organizations need to adopt a sound strategy that is steeped in DE&I, ensures gender equality and fosters a spirit of allyship. Let’s work together to pave the way for a more inclusive, welcoming workplace for today’s workforce and the next generation.