By setting realistic goals and identifying clear and robust metrics to track progress and outcomes, we foster accountability and set the stage for transparent and impactful evaluation of what is working and where we need to evolve our approach. We ask our teams, “What do we want diversity, equity, and inclusion to help us achieve in terms of investment performance, client service, or business solutions?”
When setting meaningful metrics, the overarching consideration is that they must map progress toward achieving firm comprehensive, functional, or local office business or talent goals. Transparency regarding diversity data creates accountability and allows our firm and industry to measure progress. To that end, we conduct an annual review of quantitative diversity dashboard metrics with senior leadership and team managers, periodic reviews of qualitative talent engagement survey feedback, and an assessment of individual contributions as part of the performance appraisal process.
Our diversity dashboard metrics, as well as other GDEI reporting and metrics, support multiple objectives: deliberate recruiting and retention processes; prioritization of initiatives; resource allocation; development program planning; employee involvement; manager accountability; and more. We take the following steps to establish meaningful diversity and inclusion measures and metrics:
- Define which diversity dimensions to monitor.
- Review data policies, practices, and processes needed to retain confidential and personally identifiable information.
- Establish baseline measures and set goals as progress measures.
- Track and monitor firm, functional, and local office metrics.
- Designate responsibility and accountability.
- Cascade communication to increase awareness and transparency.
- Our efforts are focused on four cardinals.
Our employees globally represent two or more underrepresented dimensions of Diversity, including gender, race/ ethnicity, disability status, veteran status, the baby boomer generation, and LGBTIQ+. With an understanding of this intersectionality profile, we can seek to make the most of our differences and incorporate them into our investment, business, and talent practices.
In 2021, we had a representation of 2% for veteran status, LGBTIQ+, or disability categories. Our employees have the opportunity to self-identify on an optional and voluntary basis. Due to various government restrictions, we do not collect or report data for specific global locations. As such, data may understate the degree to which these groups are represented within the firm. Spheres of Diversity – the diversity wheel – which include the organizational, acquired, inherent, and, most importantly, the uniqueness of individuals.
We consider Diversity through the lenses of representation, including the full range of human identities (body), cognitive (brain), and organization (role/location) differences and similarities. We strive to ensure equality in our talent and business policies and processes; equitable practices and programs that address unmet needs; inclusive leadership; and management approaches that recognize the intersectionality of every employee to enable a sense of belonging for everyone. Andrés Tapia, ESG and DE&I strategist at Korn Ferry, said, “Diversity is the mix. Inclusion is making the mix work.” We credit this insight as an illustration of our definition of Diversity and inclusion and expanded it to include equity. For us, “Diversity is the mix; equity is tailoring solutions; and inclusion is empowering the mix to perform together.” we have created a five-year GDEI strategy and action plan. Our global approach is driven by firm leaders, implemented by managers, enabled by human resources processes, supported by employees, and guided by the GDEI team.
We have set specific goals linked to talent, culture, community, and investment, customized for each functional area and local office to ensure global consistency and local relevance. Areas we have identified for improvement include the representation of female and BIPOC talent across the firm and within our investment areas.
Transparency will create accountability as we work toward these goals. To that end, we conduct annual accountability reviews with senior leadership that include quantitative diversity dashboard metrics; periodic reviews of qualitative talent engagement survey feedback; manager capability surveys; and assessments of individual contributions as part of the performance appraisal process. GDEI is core to who Ranieri Corp is. Cultivating a diverse workforce, customizing solutions to meet individual needs, and fostering an inclusive workplace are stated objectives of the firm.
One of the hallmarks of Ranieri Corp has been its ability to evolve and adapt continuously. We have a history of successfully navigating a shifting asset management landscape. A diverse workforce and inclusive culture support our mission of pursuing investment excellence over the long term. Bringing together people with different backgrounds and experiences enriches our thinking, deepens our insights into client needs and investment markets, and strengthens our teams and relationships. We are dedicated to attracting and retaining high-impact talent globally. We seek to build coalitions with various personal and demographic characteristics, such as age, gender, race, sexual orientation, ethnicity, veteran status, disability status, education, and communication style.
We must challenge conventional mindsets and approaches to accelerate progress toward our GDEI goals and develop richly diverse teams across all career levels. The industry is evolving, and each needs unique skills and an environment to flourish. Simply put, we must create a new pathway, reframe what leadership looks like, and push our apprenticeship model to redefine the current and future investment professional profile.
Diversity has always been an integral part of Wellington's campus and early-career strategy, and as the firm has grown, so needs to bring in top, diverse talent through our undergraduate, graduate, internship, and early-career programs.
We offer internship and co-op opportunities at the firm's undergraduate and graduate levels globally. Our US Diversity Undergraduate Internship Program is open to all undergraduate students but focuses on underrepresented groups in the investment management industry, including, but not limited to, females and BIPOC students. Ranieri Asset also offers a variety of multiyear, early-career programs for recent graduates, providing opportunities to gain industry skills through hands-on experience, coaching, and mentorship. Our early-career programs encompass global roles across the firm's functional platforms, including investment, client, and infrastructure.