“In the financial services industry, you have diverse markets and clients,” she noted. “That raises a need for innovation and diversity of ideas, which is why we’re getting more diverse talent pools. It’s a continued evolution that I think is accelerating as the world is changing.”
Of course, the path to progress is paved with challenges. When it comes to building an inclusive workplace culture, Rakkar identifies several barriers including stereotyping, unconscious bias, and the lack of clear diversity, equity, and inclusion (DEI) goals, among others. Gaps in leadership skills may compound those issues, she adds.
Edward Jones has several initiatives in place to help lower those hurdles. For one, it has 12 business resource groups that provide support for LGBTQ+, Asian/Pacific Islanders, women, and other diverse communities. Composed of Edward Jones associates and leaders, these groups meet regularly to cultivate relationships, ideas, and strategies to build and retain an inclusive workforce.
The financial services firm has also developed ‘Courageous Conversations’ – a forum that first launched in 2019 to help to address sensitive issues on inclusion and diversity through a series of ongoing candid conversations and sharing of associates’ personal stories – which attracted 12,000 participants in the first year.
More recently in September, Edward Jones also held its inaugural Diversity, Equity & Inclusion Conference at its St. Louis headquarters. “This conference brought together financial advisors, branch support, and home office associates,” Rakkar says. “It included interactive panel discussions, presentations, workshops and networking sessions where participants gained insights, tools and resources to strengthen their DEI acumen.”
