Financial services industry has work to do on trustworthiness, study suggests

Study Shows Effectiveness of DEI Initiatives Varies by Sector

According to a recent study conducted by RW3 CultureWizard, a provider of diversity and inclusion training, the effectiveness of diversity, equity, and inclusion (DEI) initiatives varied by sector among nearly 140,000 corporate workers analyzed. The Global Inclusion Analytics Index, released on Monday, evaluated responses based on three dimensions: inclusive behavior, exposure to diversity, and cognitive flexibility.

The financial services sector scored 4.5% lower than the average on the “trustworthiness” dimension, while the communication services sector scored almost 9% above average on cognitive flexibility. Inclusive behavior was found to be higher than average in the communication services, consumer products, and education/non-profit sectors. The education/non-profit sector scored above average on both current and past exposure to diversity, while the materials and industrials sector had a lower score. On cognitive flexibility, the energy and financial services sectors had low scores, while communication services and consumer staples had high scores.

RW3 CultureWizard President Charlene Solomon emphasized the importance of having a complete set of data to measure the return on investment of DEI training and development, especially given the significant expenditures made by organizations in this area.

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