By Justine Phoenix, Head of Diversity Project North America:
I was honored to participate in J.P. Morgan’s recent internal round table discussion led by their AsPIRE & BOLD Business Resource Groups, titled “Rediscovering Ourselves: Understanding Racism and Discrimination in the Workplace.” The panel boldly and skillfully explored the topics of racism and discrimination in the workplace. It was a great opportunity to hear from senior leaders in the global asset management industry and how understanding biases has shaped the way they lead and manage their teams.
Discussion such as this one will go a long way toward uniting firms, and ultimately the industry, and demonstrates the commitment to cultivating a more inclusive environment in the industry we all serve. The opportunity that Diversity Project North America Founding Member J.P. Morgan took to talk about racism is a meaningful step toward shining a light on the voices that need to be heard.
We thought we were a post-racism society. We’re far from it.
This is one of the takeaways I was left with following our discussion.
Part of deconstructing structural and institutional racism is focusing on how we – firms across the global asset management industry – conduct business inside and outside the firm. How are we thinking about clients? Employees? How are we operating within the communities in which we serve?
Rich dialogue across the panelists centered around actions that can be taken. Part of being an effective leader in the journey toward DE&I is homing in on what we as individual leaders can do at specific locations (Boston, NY, LA, from our home offices, or elsewhere) that will make a difference.
Am I an anti-racist?
Being a leader also takes some self-reflection.
The definition of racism is evolving and has shifted to a broader view about institutional structures that provides privilege to certain people over others. This important shift is helping industry leaders shine a light on their own business practices. A deeper self-evaluation has moved from “I’m not a racist” to “Am I an anti-racist?” Passive roles are no longer tolerated.
Discrimination is taking biases and putting them into policy or action. Discrimination can manifest itself in unequal pay, lack of advancement, and hiring practices. Affirmative discrimination can be equally as damaging, manifesting itself in a belief that certain people are better at certain jobs, and shaping what managers look for in candidates. It can have real consequences on where people wind up and how careers are tracking.
A really important and impactful result of evaluating biases in the workplace is building the courage to stand up when and where it is necessary. Do you have the voice to say: “this is unacceptable, not on my watch”? Calling out racism and discrimination where you see it requires courage. As business leaders, we must build environments where we are not afraid to hold each other accountable.
An opportunity.
For me personally, taking on the role of Head of the Diversity Project North America in the midst of national and global racial unrest presented an opportunity to be a part of industry change.
What’s your opportunity? There are many to seize. Here are a few that I’m focused on:
- Accept more responsiblility for speaking up.
- Go through the training.
- Be reflective.
- Use empathy as a guiding principle.
- Empower employees.
- Demonstrate vulnerability.
- Be human.
Thank you, J.P. Morgan, for inviting me to listen and engage. If you’d like information about the Diversity Project North America, follow us on LinkedIn or reach out to me here.