Diversity management: Realizing employee potential
Diversity management is important because teams that contain different perspectives are better equipped to deliver innovative solutions. Our clients as well as our employees all over the world can benefit from this approach.
Diversity management and diversity councils
To be successful in the long term, we must have the right mix of skills and talents. Diversity is therefore anchored in our Values and Beliefs. By diversity we mean an open, prejudice-free culture in which employees can develop their potential and contribute their individual talents.
We believe that everyone should work in an open environment where differences are valued. Deutsche Bank is a founding member and signatory of the Charta der Vielfalt in Germany, Charter de la Diversidad in Spain, and the Charte de la Diversité in Luxembourg, which illustrates our commitment to a corporate culture based on mutual respect. Guelabatin Sun, Global Head of Diversity and Inclusion, emphasizes the significance of diversity for global companies: "When diverse ideas are combined, they multiply to create even better ideas - this is what makes a diverse workforce so valuable to our business. And this is what makes it critical that diversity is embedded in every aspect of the employee lifecycle."
Communication is particularly important. We celebrate a global diversity week week every year – the focus in 2014 was about creating „A Culture of Inclusion“. Participation in 2014 increased considerably with 20,000 employees taking part in 250 events around the world over the week, up from just 6,000 employees in 2011.
Taking on responsibility for diversity through diversity councils
Cultural and social diversity are the norm at Deutsche Bank because of our global presence. Our corporate culture is built on diversity principles that allow our staff to deploy their talents in an optimal way and to fully exploit their potential – irrespective of age, gender, religion, ethnic origin, sexual orientation or physical capabilities. Our hiring policies require that all job applications must be considered regardless of those aspects.
We have introduced global diversity guidelines to guarantee that this culture is put into practice. We have set up Diversity Councils in many regions, through which senior managers ensure adherence to the guidelines and achieve a diverse and balanced workforce. They pay special attention to opportunities for employees and tackling barriers to change. In collaboration with employee networks – such as the dbPride Network – the Councils seek to guarantee that all employees are able to develop their individual talents.
Creating and securing equal opportunities for women
About 42 percent of our employees are female. Currently, this is not reflected at senior levels of the bank, an issue that we are working to improve. Increasing the proportion of women in senior management is a strategic necessity for business success. Along with other companies, Deutsche Bank has signed the DAX 30 declaration committing to increase the proportion of women executives at director and managing director level to 25 percent by the end of 2018. In 2014 we reached more than 19 percent and are steadily approaching our target. Furthermore, the percentage of all women in non-tariff positions should rise from nearly 32 percent in 2014 to 35 percent in 2018.
On March 6, 2015, the Gender Quota Law (= Law for the equal participation of women and men in management positions) was enacted in Germany. The law seeks to ensure equal participation and gender parity.
First, the law requires all German companies that are fully co-determined and publicly listed on a stock exchange to apply a fixed 30% female gender quota for their supervisory boards. Accordingly, as of January 1, 2016, all new supervisory board mandates have to comply with the fixed gender quota. Deutsche Bank is already well-positioned in this respect: 35% of the supervisory board members, including shareholder representatives and employee representatives, are female: overall, the 20-member supervisory board comprises seven women.
Second, the law also requires companies to define gender quota targets for the management board and the two management levels below by September 30, 2015. Deutsche Bank will set appropriate deadlines and determine gender quota targets that will facilitate and demonstrate a sustainable achievement of these targets and reflect the demand for women in senior positions.
Following the voluntary commitment to the German Federal Government, we will now continue our efforts toward the advancement of women in the workplace under the new law.
The five core elements of the declaration of the DAX 30 companies
- Requirement for differentiated, company-specific targets; regular reporting on goals, measures, and results
- Ensuring equality of opportunity in hiring and career development in order to promote women’s careers
- Measures to heighten awareness and improve qualifications of senior managers; targeted career planning for women
- Organisation of flexible working hours and further improvement of the compatibility of family life and work for parents
- Advancing professional interests of women and men in MINT subjects (mathematics, information technology, natural sciences, technology)
Diversity at Deutsche Bank
“Diversity is crucial: we need the right mix of skills and talents to build a dynamic, adaptable, meritocratic platform.”
are spoken at our risk center in Berlin
Our top three activities for developing a diverse workforce:
- Taking responsibility for diversity through our diversity councils
- Creating and securing equal opportunities for women
- Promoting generational diversity and maintaining competence
DAX 30 self-commitment: status and goal
Female employees, in %
2 Managing Director and Director
3 Managing Director, Director, Vice President, Assistant Vice President and Associate