A specialist lender has implemented a series of initiatives to promote diversity within its organisation, knowing that a variety of perspectives is guaranteed to lead to better business outcomes.
“Having a diverse workplace encourages a wider range of skills and experience, and supports improved performance and a higher staff retention rate,” said John Mohnacheff, group sales manager at Liberty Financial.
Highlighting the business benefit of promoting diversity in the banking and finance industry is especially crucial as it has historically been male-dominated.
“As an industry, we have a responsibility to our customers and colleagues to continually strive for equality and break down barriers that have limited people from career advancement,” said Mohnacheff.
“The first step is to recognise while there are no quick-fixes, there are steps employers can take to address gender inequality.”
For example, Liberty not only conducts traditional interviews with BDM applicants, but also has them craft a business plan to better assess on capability rather than one’s ability to market themselves.
Further, Liberty has recently enacted a number of policy changes to improve its employees’ career prospects and work-life balance.
“Our paid parental leave policy offers primary caregivers up to 52 weeks leave, with the option to request a further 52 weeks leave. During this time, parents receive 13 weeks of full-time pay and continue to accrue annual leave, personal leave, long-service leave and superannuation,” said Mohnacheff.
“We also introduced a new fertility support policy which provides five days of paid leave per year for women undergoing fertility treatments. This policy also includes paid leave for the partners of women who are undergoing treatment.”
“At Liberty, people are at the heart of our organisation. We’re very proud of the strong culture we’ve built over the years, but we recognise that we need to continue working on it. We want to set the standard in gender equality and diversity.”
“As an industry, we have the opportunity to lift one another up, and the power to make a real difference to the wider community,” Mohnacheff concluded.
