The philosophy of working as One BlackRock is at the core of our commitment to inclusion and diversity. We’ve made building a more diverse workforce a top priority and foster a collaborative culture based on trust, respect and integrity. We know that diversity strengthens us and an inclusive culture is essential to deliver superior results for our clients.
Every single employee plays a critical role. Diversity causes us to stop and reflect more deeply on our assumptions and to consider the unique perspectives and insights that each of us brings. We learn from one another and encourage each other to develop, grow and make an impact. We are one team aligned around a shared sense of purpose and strive to make every employee feel like they belong here at BlackRock.
Most of all, we believe that we should treat others as they would like to be treated. We can’t assume that others want the same things we do or see the world in the same way – we have to ask them and listen. Only then can we lean into and learn from the many voices at the table.
Our employee networks provide an opportunity for employees across the company with a diverse range of backgrounds, experiences and perspectives to connect with one another and help shape our culture. Networks are sponsored by senior leaders across the firm, and are proudly designed by employees, for employees.
We continue to add additional employee networks to support the expectations and demands of our growing population. Through our annual Employee Opinion Survey, we identified that 2.6% of our global population self-identifies as having a disability. In 2017, we launched the Ability Network, to support those affected by disability, whether directly or indirectly. In 2018, we launched Mosaic, a network supported by our regional leaders that works across many populations and groups within the firm to focus on shared interests.
Leveraging the reach of our employee networks and the resources of our Social Impact team, employees can directly support external organizations through grants and volunteering. For example, championed by our employees in the OUT Network, our New York City office supports local organisations that provide assistance and education to individuals living with HIV/AIDS.
Our employee networks are:
Ability & allies network
Black professionals & allies network
Families & allies network
Green team network
Out & allies network
SOMOS Latinx & allies network
Veterans & allies network
Women's initiative & allies network
We are committed to cultivating and advancing diversity in all forms because we believe a wide range of perspectives and talent is crucial to creating a richer experience for our employees and a better outcomes for our diversified global client base.
Senior business leaders make it a priority to ensure that all employees in their groups understand why diversity is important for success and equip them with tools and knowledge to foster inclusion. We’ve also made inclusive leadership and management a core leadership competency.
Since 2015, more than 2,500 managers and leaders globally have participated in Driving Better Decisions. This initiative helps leaders and managers understand how unconscious bias works and, most importantly, provides concrete tools and guidance on how to take action to mitigate bias in key people and business decisions. As part of this program, we’ve redesigned key human resources processes to minimize the potential for bias and foster diversity. BlackRock’s efforts to use diversity as a driver of success were profiled in a 2015 Harvard Business School case study.
We hold our businesses accountable for progress in inclusion and diversity. During our Quarterly Business Reviews, we have focused conversations with each business about their plans and progress. We also report our progress against our inclusion and diversity initiatives regularly to our Board of Directors.
As a signatory of HM Treasury’s Women in Finance Charter, which seeks to build a more balanced and diverse financial services industry, BlackRock is committed to achieving 30% female representation in senior management by 2020.
Our commitment in action
42% female employees
49% female new hires in 2019
29% female senior leaders
42% female senior leader new hires in 2019
28% female board of directors
40% ethnic minority employees (US)
51% ethnic minority new hires in 2019 (US)
*Representation as of January , 2020