GET EMAIL UPDATES FROM POWERTOFLY
By signing up you accept the Terms of Service and Privacy Policy
BROWSE CATEGORIES
GET EMAIL UPDATES FROM POWERTOFLY
Morgan Stanley

Unfinished Business: Creating a Sustainable Workforce Through Diversity and Inclusion

Below is an article originally written by Susan Reid at PowerToFly Partner Morgan Stanley, and published on September 20, 2018. Go to Morgan Stanley's page on PowerToFly to see their open positions and learn more.

We consistently strive to make Morgan Stanley a place where people from multiple backgrounds and experiences want to work.

Every summer, we welcome well over 1,000 summer and full-time analysts and associates to explore financial services careers at Morgan Stanley. As a member of the human resources team and Head of Diversity and Inclusion, I frequently meet with members of the entering classes during their first days with the firm, and I'm consistently impressed. They radiate energy and curiosity, and the strong sense of values and purpose that we frequently associate with the millennial generation.

Their perspective reminds us to remain vigilant in our efforts to make Morgan Stanley a place where people from multiple backgrounds and experiences want to work. As the Global Head of Diversity and Inclusion, a black woman and an immigrant, I'm keenly interested in ensuring that our culture creates space for a variety of people to thrive personally and professionally. Achieving this objective is intrinsic to the firm's core values and our business strategy.

Why We Do What We Do on Diversity and Inclusion

Implicit in our core value of doing the right thing is the understanding that each of us has the responsibility and power to help create the type of society we want to live in. That means building an organization where people of every gender, race, sexual orientation and ability can contribute to our success as a business, and that our business environment also contributes to their success.

We are committed to supporting the careers of historically underrepresented groups globally by investing in organizational change and a robust range of programs to help recruit and advance a dynamic talent base.

Building a diverse and inclusive organization is not only the right thing to do, but the commercially smart thing to do. There is growing evidence that diverse organizations outperform peers. For example, Morgan Stanley's Sustainability research and Global Quantitative Studies teams collected and analyzed data from around the world to create a proprietary gender-diversity framework to rank companies on relevant metrics. They applied the framework to more than 1,600 stocks globally and found that companies that are more gender diverse offer similar return with lower volatility. [1]

Progress to Date

The makeup of our intern classes has become more diverse over the past five years. Among our 2018 U.S. summer analyst and associate classes, 56 percent of participants were ethnically diverse and 43 percent globally were women.

We have also seen progress at the more senior levels, with the percent of women managing directors reaching 19 percent in 2017, a steady increase from 14 percent in 2012.

Central to our progress is a commitment that starts at the top of the firm. We hold ourselves accountable through annual business unit diversity reviews, where business heads and HR leaders assess progress against diversity and inclusion goals, and identify areas where we are doing well and areas where we have opportunities for improvement.

We have several programs to engage prospective employees from underrepresented groups such as Early Insights, the Freshman Enhancement Program and sophomore internship programs in the Institutional Securities Group (ISG) and Wealth Management divisions. These programs and others continually edge us closer to a workforce that reflects the world in which we do business.

For full-time Morgan Stanley employees, we offer numerous programs that help position diverse talent for success. Examples include the Leader Engagement and Development Program for Black and Hispanic Executive Directors and Vice Presidents, and the Development Series and Platinum Program for Women. Through the Pride & Ally employee network, we offer programming that provides LGBT+ employees early in their careers an opportunity to engage with senior managers. Finally, programs such as ISG Connects, an initiative sponsored by the firm's Institutional Securities Business, and the Champions Program in Wealth Management, have helped hundreds of high potential colleagues globally take ownership of their careers through relationships with senior mentors.

Moving the Needle

Despite our successes, progress seldom happens as quickly as we would like; when I speak to new analysts, I still find myself thinking, 'We can and must do better.' However, I am proud to say that we are on the right track. Through participation in initiatives such as the CEO Action for Diversity and Inclusion and Catalyst CEO Champions for Change, for example, our Chairman and Chief Executive Officer James Gorman has pledged our commitment to help accelerate progress by strengthening our pipeline of diverse talent, continuing to benchmark and track our progress through talent data analysis, actively facilitating mentorship and sponsorship for our colleagues, and sharing best practices. By continuing to tailor our strategy to address areas where challenges remain, we will build a culture where all of our employees have the tools and support necessary to advance and thrive.

[1] http://www.morganstanley.com/ideas/gender-diversity-investor-guide. Past performance is not a guarantee of future results.

About Susan Reid
Susan Reid, Global Head of Diversity and Inclusion at Morgan Stanley, has 20 years of human resource experience across a broad range of industries including financial services, telecommunications and higher education. Susan joined Morgan Stanley in 2008 as a Human Resource Business Partner supporting the Investment Management division. Prior to joining Morgan Stanley, Susan held a number of roles at various companies, including Human Resource Business Partner, and Head of Campus Recruiting and Diversity at Marsh and McLennan Companies, Head of Campus and Diversity Recruiting at Bell Atlantic, Head of Recruiting at RR Donnelley's financial services division and Head of Employment at New York University. Prior to transitioning to Human Resources, Susan was an Assistant Director in Student Services at New York University where she developed and led programs to retain and advance academically gifted students of color.

Susan serves on the boards of the Morgan Stanley Foundation and Storefront Academy, a tuition-free private pre-K through 8th grade school in Harlem, NY, and is a member of the Executive Leadership Council.

Susan has a degree in Economics and Political Science from New York University and lives in Harlem, New York.

popular

How These Companies Are Celebrating Asian American and Pacific Islander Heritage Month

According to a recent study, anti-Asian hate crimes have risen 150% since the pandemic started. But these acts of violence are not new — they are part of a much larger history of anti-Asian racism and violence in the U.S.

That makes celebrating Asian American and Pacific Islander Heritage Month (which was named a month-long celebration in May by Congress in 1992 "to coincide with two important milestones in Asian/Pacific American history: the arrival in the United States of the first Japanese immigrants on May 7, 1843 and contributions of Chinese workers to the building of the transcontinental railroad, completed May 10, 1869") this year all the more important.

READ MORE AND DISCUSS Show less
popular

30+ Ways Companies Are Celebrating Hispanic Heritage Month 2021

Founded in 1989, Hispanic Heritage Month begins on September 15 and ends October 15. The four-week span over two calendar months may seem a bit odd, but it comes with good reason, as it covers independence anniversaries of several Latin American countries, as well as key celebrations in Hispanic and Latin communities. Apart from commemorating major holidays and historic milestones, this month honors the cultures and contributions of Hispanic and Latinx Americans.

We asked some of our partner companies what they're doing to honor and celebrate Hispanic Heritage Month at work this year, and we were inspired by the wide range of responses, from highlighting the impact that employees have in local communities to hosting fireside conversations on allyship to sharing performances and instruction of famous cultural dances.ot only are these companies honoring Hispanic Heritage Month, they're finding ways to spread positive change throughout the year. Here's what they're doing, in their own words:

READ MORE AND DISCUSS Show less
Webinars

The Workplace of the Future: How Companies Can Plan for The Ever-Changing

As vaccination numbers climb and some—though not all—of our collective paranoia begins to dissipate, businesses are starting to reopen. Employers face a key decision: how will they respond? Will they go back to the ways of life before COVID? Or will they adopt more permanently the flexibility and remote-first work necessitated by the pandemic?

As part of our Corporate Circles: Inclusive Conversation Series, join PowerToFly's Global Director of DEI Sienna Brown and Global DEI Strategist & Trainer Zara Chaudary on Friday, October 1st from 12pm to 1:30pm Eastern for an interactive roundtable as we discuss and share the tools and mindset needed to create the office of the future in a post-pandemic world.

READ MORE AND DISCUSS Show less

Introducing Our Newest Partner: The Conferences for Women

We are pleased to announce our partnership with The Conference for Women, whose mission is to promote, communicate, and amplify the influence of women in the workplace and beyond.

"At our annual non-partisan, non-profit conferences, we bring together thousands of active professionals to connect, renew, and find inspiration in community. We are committed to helping close the pay gap, eliminate gender discrimination, and achieve parity in company leadership and on corporate boards. We inspire the next generation through our Young Women's program and we support local non-profit organizations. The Conferences for Women harness the collective wisdom, experience, and energy of inspirational women and men of all ages and backgrounds in service of our values: supporting and giving back to our growing nationwide community."

READ MORE AND DISCUSS Show less
Nike Inc

Valari: Nike's Newest Fellowship Program

Below is originally written by Jarvis Sam, and published on August 5, 2021. Go Nike's company page on PowerToFly to see their open positions and learn more.

Nike, Inc. is excited to announce a new program designed to connect talented caregivers to high-powered teams in Global Technology.

READ MORE AND DISCUSS Show less
© Rebelmouse 2020