John C. Williams, president and CEO of the Federal Reserve Bank of San Francisco, delivered a keynote address entitled “Diversity and Inclusion without Excuses” at a conference on improving diversity in the financial services industry, held at Rutgers Business School last month. At the beginning of his address, Mr. Williams acknowledged that the financial services industry is not as diverse as it should be and that solutions are required. Here is an excerpt from his presentation:
Until we advance our diversity and inclusion efforts, we are all missing enormous opportunities to expand our horizons, our vision, our labor pool, and ultimately, our success, both for our organizations and our society. There’s a business case as well as a moral one, and they’re both equally persuasive. Starting with the business case, in today’s highly diverse and changing society, we can’t compete for the best talent if we don’t welcome and encourage diversity and inclusion. And if we don’t attract and retain diverse employees, we are missing out on a huge and growing part of the labour force. Moreover, diversity perspectives often lead to better thinking and better outcomes.
To read the full transcript or to download a pdf of this compelling address, click here.