In the early 90s, before Bill Proudman founded his global leadership development consultancy, he began to notice a recurring pattern. Regardless of the industry he was working in, straight, white males like himself outsourced diversity initiatives to people who have been historically marginalized and underrepresented.
“If there were two women on the team, they were expected not only to teach us about gender and equality — but about everything diversity. The same for men or women of color or people who identified as gay or lesbian,” Proudman said. “The reality is, that’s not sustainable. It’s exhausting for those in the role, and it says that I, as a white man, don’t know anything about this topic, and I certainly can’t learn anything on my own.’”
Challenging that mindset, he founded White Men as Full Diversity Partners (WMFDP), a novel approach to DEI that aims to shift behavior personally and professionally through life-changing experiences. The firm’s current clients include Lockheed Martin, BAE, S&P Global, Mass Mutual, P&G, and Amazon Web Services.
“My life’s work has been understanding the mutual self-interest in creating and sustaining a more equitable and inclusive organization, community, and world — rather than saying, ‘I’m here to help others with their issues. As good as that might feel, it’s not sustainable if I don’t have my own skin in the game.’”
Like a rising tide floats all boats, Proudman said DEI initiatives help everyone, including white men, reach their full potential. “Operating from a place of mutual self-interest allows all parties to endure in partnerships over time,” he said.
But while everyone should take ownership of these issues, fear can get in the way.
“If I’m afraid of saying and doing the wrong thing, I could invoke my ultimate privilege of not getting involved,” he said. “But straight, white men must learn to make mistakes, metaphorically fall down, say the wrong things, and then recover.’
Proudman said assumptions — or the elephants in the room — about straight, white men and DEI in the asset management industry are vast, including the following:
- Race and gender are solely BIPOC or women’s issues.
- Straight, white men have everything to lose from a greater focus on DEI.
- Straight, White men don’t know anything about DEI.
- Women and BIPOC should exclusively mentor, educate, and lead DEI efforts.
- Success with DEI means simply hiring more women and BIPOC.
- Commitment to DEI means lowering standards or not hiring or promoting the best person.
Impacts on partnership, engagement, and morale can be significant when such assumptions remain unacknowledged and unexamined. Among other effects, white men may feel blamed or guilty, reduced curiosity in DEI may contribute to a “walking on eggshells” environment, and ultimately, DEI efforts may result in backlash and resistance from straight, white men.
To strengthen partnerships across differences, Proudman offered straight, white men the following guidance:
- Learn to find and better understand your mutual self-interest.
- Don’t outsource your learning about inclusion and equity to those most adversely affected.
- Assume the impact of your words and actions on others is always different than what you intended.
- You may not have not created inequity and inequality, but you are responsible for better understanding how what has happened in the past impacts both your mindset and how you lead and partner with others today in achieving greater Inclusion and equity.
For a full replay of this session, employees of registered firms can visit Nicsa’s 2022 Fearless Leadership Symposium website.
May contain forward-looking statements subject to various uncertainties. Personal views and observations of individuals contained herein are as of the date of the live event or written material and do not necessarily reflect the views of Nicsa or its member organizations. Nothing herein is intended to be or should be construed as legal advice. Contact your own counsel in order to obtain legal advice regarding these or any other matters. The information contained herein is for informational purposes only and does not constitute a recommendation of best practices.
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