As part of the wider ESG agenda, a UK Private Equity Firm wanted to recognise the importance of D&I; both within their own business and within the companies in which they invest. A key objective for 2020 was to raise awareness of D&I across the Firm and to start conversations on bias and inclusion which could be used to help define and drive future action around D&I.
Solution
To support the Firm in meeting these objectives Pearn Kandola delivered a two-level approach:
- Session One: Core concepts about D&I and the impact of bias: This session covered why D&I is a critical part of ESG within Private Equity, how bias can influence decisions across the firm, and the impact of this. The session also offered a broad set of tools for participants to spot bias more easily in day-to-day interactions, as well as how they can take action to minimise bias. These sessions stimulated conversation about where in the business bias may impact and these conversations fed into a second, more specific follow up session.
- Session Two: Practical sessions: Using the insights and examples shared within session one, we then developed and delivered in-depth and highly practical sessions to help participants mitigate bias and maximise inclusion within their teams and the business more widely. These sessions specifically covered parts of the Employee Life Cycle that had been highlighted as being most prone to bias such as recruitment, feedback, and networks.
Impact
These sessions were delivered Firm wide. It prompted in-depth discussions around the impact of bias and further conversations about next steps for reducing bias e.g. through process review. After the workshop, all participants received follow up ‘nudge’ emails which contained reminders of key concepts or suggestions of new things to try to support inclusion. These were designed to support the transfer of learning and skills. Examples of successful actions were also shared internally with the D&I committee.
Feedback from participants:
- 100% of participants said they were more aware of Unconscious Bias in the workplace and the impact it can have.
- 100% of participants said the sessions made them think more deeply about their unconscious impact when interacting with others.
- 100% of participants said the sessions helped them recognise what they can do differently when dealing with people to avoid biases.
- 80% of participants said the sessions helped them recognise the importance of reducing unconscious bias within their business.
- 100% of participants would recommend these sessions to a colleague.
Feedback from the client:
- Our team was rated 10/10 for our knowledge and expertise.
- Our team was rated 10/10 for understanding the client’s needs.
- Our work was rated 10/10 for achieving the client’s objectives.
- This work impacted 80-100% of the organisation.
- This client is likely (10/10) to recommend Pearn Kandola to a friend or colleague.
“I was very impressed…”
– Client
