Recently, Germany’s largest lender promised to raise the share of women among its roughly 600 most senior executives to at least 30% by 2025, up from the current rate of 24%.“Greater diversity among senior executives is a business necessity for us,” Deutsche’s global head of human resources Michael Ilgner told the Financial Times. “This will make us stronger as there is plenty of evidence that more diverse teams achieve better results and adjust faster to a changing environment.”Deutsche’s gender quota is roughly in line with its peers. Goldman Sachs also has a target to lift the share of female vice-presidents to 40% in 2025 and HSBC has targeted 35% of “senior leadership roles” to be held by women by the same time.While these goals serve as a great step to creating positive change, increasing diversity is only one part of the puzzle. In a recent piece, Starling advisor Amy Edmondson and Starling CEO Stephen Scott discussed how physiological safety, trust, and inclusion impact diversity efforts.Diversity is valuable – but it is an inclusion that really drives performance. Psychologically safe workplaces enable and harness the benefits of mutual trust among staff to create a meaningful sense of belonging, and this is the key to unlocking the benefits of diversity. You can read the full piece, "Unlocking Diversity's Promise."
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