Dr Kamal Munir joins Lord Bilimoria of Chelsea and Julia Streets in a discussion on how to change the race ratio in financial services organisations.
Dr Kamal Munir, Reader in Strategy & Policy at Cambridge Judge Business School (CJBS) and Academic Director of the Centre for Strategic Philanthropy (CSP), joined Lord Bilimoria of Chelsea, President of the Confederation of British Industry (CBI) and former Chairman of the advisory board at CJBS, in the DiverCity podcast hosted by Julia Streets on City AM. The podcast focused on how to change the race ratio in financial services organisations as well as, more broadly, in the business world.
During the podcast, Dr Munir and Lord Bilimoria discussed their own experience in relation to diversity and inclusion and presented evidence and anecdotes about diversity in universities and businesses and current initiatives to improve it. Most importantly, they provided key insights on what organisations can do to create a more inclusive organisational culture and to start promoting diversity from the top down, starting with the Board of Directors.
Based on existing research, increasing diversity and inclusion in organisations helps these to improve their financial performance, while also providing benefits to society as a whole and being the right thing to do ethically and morally. While changing something that has been institutionalised for centuries will not be easy and fast, this is the right time to do it and research can provide precious support for organisations that will embark on this journey.