LS International 18 July 2019

Clear benefits but poor track records: the organizational diversity conundrum

Across banking and financial services organizations, inadequate diversity is the elephant in the room. Even a quick look reveals that lack of diversity in terms of gender, race, religion, sexual orientation etc. is a challenge faced by organizations across all industries and geographies. This situation prevails despite the fact that organizations have policies in place to promote diversity; many even have diversity goals.

Lauren Stiebing is the founder of LS International, an executive search firm that is passionate about helping companies improve their diversity. [45% of their placements are women simply because they go the extra mile to find suitable candidates]. We sought the LS International team’s views on diversity. Despite the obvious benefits, why haven’t companies done too well on the diversity front? Lauren candidly says, “The poor diversity in organizations is the result of the conscious and unconscious biases that exist in people’s minds and the way companies have traditionally approached hiring and promotion decisions”.

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