It encourages diversity of thought, fosters creativity, and provides insight into the needs and wants of society as a whole instead of the select few.
One common, yet often overlooked, diversity is neurodiversity. This refers to diversity of human brains and considers differences in how our brains are "wired" as another natural variation in humans.
Inaugural IA EDI report finds smaller firms are setting fewer targets
Estimated to make up around 15% of the UK population and thus a substantial proportion of our workforce, neurodivergent individuals bring a variety of key skills to their job roles.
This is especially true in the investment and savings industry.
A recent survey from the Diversity Project's Neurodiversity Workstream (with support from the Autism Centre of Excellence in Cambridge), revealed that neurodivergent colleagues in the investment industry believe their neurodivergence provides them with a variety of skills useful in their career including the ability to think outside the box, a hyper-focus, increased empathy, an attention to detail, and an ability to notice patterns and connections.
Yet, despite possessing these key skills, the same survey revealed that only just over half (57%) of respondents had actually disclosed their neurodivergence to their employers, with reasons cited for not doing so including fearing that it would limit their career opportunities (47%) and concern about how their colleagues would react (33%).
At the same time, whilst 50% felt that their neurodiversity was a disability, only a third claimed to have requested reasonable adjustments in the workplace.
CFA Institute's Sarah Maynard: A new framework for an inclusive investment industry
Of these respondents, half revealed that their investment firm had rejected their requests for adjustments.
Also in the cases where approval had been granted, a third stated that such adjustments had been difficult to achieve.
So, when it comes to neuroinclusivity, the investment industry clearly still has a long way to go
The Diversity Project's Neurodiversity Workstream is urging firms to take action to make their workplace a safe space for neurodivergent employees to share their experience, and also an attractive and accommodating environment to allow neurodivergent job applicants (and potential future talent) to thrive.
What actions can investment firms take to become more neuroinclusive?
Whilst this all seems very simple when down on paper, we understand it is easier said than done, and can often be difficult for firms to know where to start.
Therefore, we used our survey to consult the investment industry's neurodiverse talent directly, asking respondents the "one change" the industry might make to be more supportive of neurodivergent colleagues.
BlackRock study finds companies with more women in workforce outperform rivals
There is much to learn, and the responses generated were vast.
However, this research identified common asks from respondents which are a good place to start for firms looking to become more inclusive.
Increased awareness and education of neurodiversity within investment firms
Employers need to increase awareness and education on neurodiversity within their businesses.
Making neurodiversity more talked about and understood in the workplace will encourage neurodivergent employees to feel comfortable in seeking any needed support, creating a more productive and more open workforce.
Ensure adequate support for neurodivergent employees
Employers must think hard about how they can support their neurodivergent employees in the workplace through implementing measures such as flexible working, the introduction of quiet spaces and by providing improved access to specialist software.
Hybrid working 'life-changing' for City's women but fund sector still lags on gender parity
In particular, we encourage all organisations to think about how they can make the process of requesting and receiving reasonable adjustments much simpler, more effective, less stressful and more inclusive for all.
Keep communicating
Communication is key when it comes to embracing neurodiversity.
This includes open communication about individuals needs and experiences, clear communication with managers and colleagues about their role, provision of appropriate training especially for line managers, and ideally the creation of staff networks to allow neurodivergent colleagues to share their experiences and feel supported.
Cater for neurodivergent job applicants
Our survey revealed that 55% of respondents felt that their neurodivergence has caused them difficulties finding employment in the past, with difficulties with the application or interview process, problems communicating within the job and during the hiring process, and time management all cited as reasons for this.
CFA Institute launches DEI code for investment sector
To retain and attract neurodiverse talent, it is therefore critically important that firms think hard about their recruitment processes, policies and marketing, so as to not inadvertently discriminate against neurodivergent candidates.
Encourage role models and allies to speak out
To help with all the above steps, investment firms need to encourage more role models and allies to speak publicly on neurodiversity within the workplace.
This should initiate a cultural change, and will help the industry challenge stereotypes and promote the skills and talents of neurodivergent colleagues.
You can find further information and useful resources on how to support your organisation in becoming more neuroinclusive on the Diversity Project's Neurodiversity workstream web page.
In an industry that expects high performance, and prides itself on providing appropriate support to deliver that performance, all organisations need to ask themselves - "How neurodivergent friendly are we, and what more can we do?"
Ian Iceton is a member of the Diversity Project's Neurodiversity workstream