Harnessing the Power of Diversity for Success
WASHINGTON–It’s a new day in Washington; and a new day in America. And that means no more business as usual.
“We know our demographics are changing,” said MBA Chairman-Elect J. David Motley, CMB, Chairman of the MBA Diversity & Inclusion Committee and President of Colonial Savings FA, Fort Worth, Texas. “A more diverse workforce better reflects your customers; enhancing the possibility of effective communication and service; leads to broader ideas; and better decision-making, and ultimately success,” he said. “We need to improve and expand our outreach to younger people in our employment ranks, as well as to first-time homebuyers.”
An inclusive strategy, Motley said, means not only being asked to come to the party, but also being asked to dance. “We are pretty diverse in the back-end of our operations, but on the production side, our employees still tend to be ‘pale, male and stale–old white men,'” Motley quipped here at the MBA Summit on Diversity and Inclusion.
“Our goals at MBA are focused on expanding homeownership opportunities for all Americans, regardless of the political environment in Washington,” Motley added. “To do that, we need to attract a more multicultural workforce. We all know that people want to see an industry in which they see themselves.”
D. Steve Boland, Managing Director and Consumer Lending Executive with Bank of America, Charlotte, N.C., considers promotion of diversity and inclusion to be a personal and corporate mission.
“I personally consider it my duty to promote diversity at the places I’ve worked in my career,” Boland said. “Mentorship and promotion is critical to any culture of diversity in the workforce.”
Boland acknowledged that this can be a topic that makes people uncomfortable. “Let’s admit that it’s uncomfortable,” he said, “but let’s also have these uncomfortable conversations and accept that the status quo cannot continue. America is changing and we must change.”
The goal is simple: “The mortgage industry does not reflect the communities we serve,” Boland said. “We must reflect our communities’ needs. We must change in a changing society.”
Bank of America has a Global Diversity Committee, chaired by the bank’s CEO, Brian Moynihan. “To promote diversity, leadership must come from the top,” Boland said, noting 40 percent of the company’s management come from diverse backgrounds. “We want diverse employees to find their place at Bank of America.”
Boland added that diversity is a goal that each company must embrace. “We are stronger as a company and a country through our diversity,” he said.
