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
Diversity management is one of the most important factors in our human resources strategy. 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. In 2011, for the first time, we ran a week-long diversity campaign to raise awareness among employees of our approach to diversity and our initiatives worldwide. In 2013, 18,000 employees from 46 different DB locations spread across 35 countries took part in our third global diversity week.
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 2012, we reached 18 percent and are steadily approaching our target. Similarly, our goal is to increase the proportion of women at all levels, from managing director to assistant vice president, to 35 percent by the end of 2018. Furthermore, the percentage of all women in non-tariff positions should rise from 31 percent in 2012 to 35 percent in 2018.
To help prepare women for top executive positions, we launched our Accomplished Top Leaders Advancement Strategy (ATLAS) program in 2009. The program provides tailored training and sponsorship for a selected group of female executive managers. Following their participation in ATLAS, half of the participants have taken on new or more challenging functions.
Senior management at Deutsche Bank are aware of the need to improve opportunities for women. During one of our Women in Business conferences, Anshu Jain, Co-Chairman of the Management Board, made clear that “the need is vital: the industry needs to do a better job when it comes to gender diversity.”
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)
“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
Promoting generational diversity and sharing knowledge
In order to benefit from the wide range of employees’ ages, we are creating a work environment in which different generations can identify development opportunities for themselves and make use of their strengths. The NextGen Network in the USA and SeniorExperts@DB in Germany are examples of groups that promote the age mix of our staff and cross-generational exchange contributing to the transfer of knowledge.
Pascal Botteron, Managing Director at Deutsche Bank’s Private Wealth Management, emphasizes the importance of generational diversity for his team: “My employees are between 26 and 62 years of age. Thanks to that age range, we can learn from the experience of older colleagues and at the same time benefit from the fresh ideas and up-to-date know-how of younger employees.”
This combination allows Pascal Botteron’s team to respond more easily to the varied client inquiries from all over the world and to implement solutions that are devised creatively and flexibly. “Diverse teams provide important added value for Deutsche Bank,” Botteron says. “They constitute a major competitive advantage for us, and above all they give our clients access to global expertise.”
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