DEI Strategy, multinational general insurer, Australia & New Zealand

The Opportunity

The client was seeking a partner to co-create their DEI strategy and implementation roadmap, shifting the focus from representational diversity targets towards a strategy more focused on behavioural inclusion.

The remit was to create a broad view on the impact for people, culture, customers, community and stakeholders and to test assumptions on current approaches to DEI data, research, benchmarking and metrics.  Consultation with their people and leaders was a critical success factor as was clear integration with the existing business strategy.  The key deliverable was for a holistic strategy and recommended embedment activities for the next 1, 2 and 3-year horizons, with a clear cut through of complexity in the organisation and a compelling call to action for leaders and people in the organisation.

The Solution

A phased approach was proposed to co-create the strategy that included:

• Analysis if existing DEI metrics and collateral to assess current state, validated against external benchmarks

• External best practice desktop analysis

• Preparation of a DEI Strategy Insights Report with strategic recommendations

• Validation with internal reference groups – Millennials, senior leaders and Group Executive

• Co-development and socialisation of full DEI strategy and roadmap

• Presentation of the final strategy with recommendations for integration with Group strategic pillars and Divisional operations

The Impact

• Overall feedback from the client was very positive with regards the level of insight and thoughtfulness of the work.

• Engagement with people leaders and employees contributed to rich feedback and iteration, built buy-in and increased visibility of the business case for DEI.

• The organisation is now integrating some of the report findings into their leadership development strategy.