White Men Can’t Jump Ship When Talking Diversity
CU leaders must share their knowledge and use their strong networks to help mentor promising leaders of all ages and color.
Everyone’s talking disruption. Disruption in how we run our businesses. Disruption in what and how we think about technology. Disruption in how we provide services to our members. One thing is apparent: Humans generally don’t like disruption.
There’s a fear of the unknown. Technology and member demands are forcing credit unions to change our ways. Some may even feel other people are threatening our professional well-being.
I’m talking about the elephant in the room: Credit unions are very white. And the large ones are very male – with quite a bit of white hair.
White males are great, but the lack of diversity is not. The existing leadership possesses a wealth of knowledge and networking power that is truly awesome. I very much believe you are part of the solution! As a young, black, male credit union CEO (until recently), however, the lack of diversity is something I can’t not notice. I implore you to share that knowledge and use that network to help mentor promising leaders of all ages and color.
Some of you may have already stopped reading. I hope not. It’s a very difficult discussion to have when any party to it feels defensive. Those of you in power today earned your place and deserve to enjoy the fruits of your labor.
Diversity is not about eliminating the “old, white, hetero guys”; rather, it’s about ensuring others are brought in to have a seat at the table, too. The complexion of the United States is changing. Research out of the St. Louis Fed showed us that millennials are the most racially and ethnically diverse adult generation with greater education and social awareness than other adults, and Gen Z is right on their tails, with the oldest members reaching age 25, poised to top that. The percentages of people cohabitating with their partners, but choosing not to marry, and those choosing to live alone are inching upward, according to the latest U.S. Census, changing financial and household dynamics. The immigrant population is near record highs, and they tend to be younger; we must understand how to serve them.
Credit union members and potential members are changing. Our employees, potential employees and volunteers at all levels must reflect our consumers to be better able to serve them. To achieve diversity, we must provide additional seats at the table where decisions are made. We must listen thoughtfully to what all the stakeholders have to say based on their backgrounds and experience; that’s inclusion. Finally, we must provide equity in opportunities, in compensation, in voice and in respect.
Credit unions must create and cultivate a culture of candor and compassion. Some might say, “I haven’t heard any problems and my credit union is growing, so it’s not an issue.” Trust me, it is.
Issues of gender, race, sexual orientation, ability and every other way in which human beings can be different are uncomfortable, and most on any side of the discussion don’t want to be the one to bring it up. But know that your employees are having these discussions, and it’s hurting your credit union’s productivity and facilitation of fresh ideas. When those in the minority group don’t feel like they’re being included in the experience, they’re not going to give you their best. We, as current credit union leaders, have an obligation to build a culture for our future credit union leaders. Here are some ways to go about it:
- Develop talent through long-term mentorships.
- Speak candidly.
- Have CEOs take responsibility for building a diverse, inclusive and equitable environment.
This culture of candor and compassion must start at the top. As a CEO, I had an open-door policy that assured employees I would not be offended by any discussion they wanted to bring to me and created an organizational culture of openness and opportunity, regardless of rank. Everyone brings their unique perspectives, but we still have the common ability to hold things together and make things happen. That is diversity, inclusion and equity, and credit unions’ roots are steeped in fighting social injustice. The time is now.
Ronaldo Hardy Co-owner/Chief Diversity & Inclusion Officer CU Strategic Planning Tacoma, Wash.