Blog Post

The Relationship Between DEI and Culture Change: How a Community Bank is Experiencing the ROI of DEI

March 1, 2023

DEI progressively changes your organization over a period of time, and the best results are felt through the implementation that impacts the hearts and minds of your employees. This introspective process has great internal and external value. DEI and culture change are tightly knit. Diversity, equity, and inclusion impact your culture when using a curated approach. DEI transforms culture into its most effective condition, even if it’s starting point point istoxic. This process begins by focusing on the current state of your culture, which is why transparency is a critical component of the diversity, equity, and inclusion process. AT KEIRUS BY KJE, our process includes a thorough review of data and analytics which results in finding out what is working well and what should be discontinued within the approach to transforming their culture. 

 

DEI yields an inclusive culture that allows everyone to perform at their highest level, not just a few. If you have a good culture, people will show up to work and do their jobs; some may even do it well. However, if you create a culture influenced by diversity, equity, and inclusion, employees will become more engaged with a dedicated approach to their work because they feel valued, respected and appreciated. This dedication changes the status-quo culture and allows fulfillment and self-actualization to become a part of the framework. 

 

DEI majorly enhances a culture allowing employees to be themselves, empowering shared thoughts and ideas. This innovation elevates your organization. A monolithic culture encourages everyone to look through the same lens and does not allow the diverse perspectives needed to capture more markets, customers, and partners. A study from Harvard Business Review found that diverse companies had a 19% higher innovation revenue.  

 

DEI changes the innovation process, leading to higher profitability, which is now at the forefront of most organizations due to the challenging climate. It also changes a culture's sensitivity to the world around it. The metrics of increased profitability are strengthened when coupled with an insightful culture filled with awareness of how everyone's actions affect others and the perception of the organization's brand. 

 

Monica Eaton is the Business Transformation Officer, Senior Vice President at Texas First Bank, and a dedicated key leader in the execution of their DEI initiatives and strategy. We had the privilege of partnering with them to initiate their culture assessment and deploy DEI training. Monica has experienced the influence of DEI on their culture firsthand, and the results of utilizing KEIRUS’ strategic approach. 

 

 "Encouraging all forms of diversity, including diversity of thought, has not only led to an increased understanding amongst coworkers but it's also led to enhancements to processes and products. The core takeaway is that a culture where everyone feels seen and heard can pay dividends in the long run." Their implementation of culture enhancements aligns with their key strategic objective: to attract, retain, and develop human talent. They have been committed to fostering a diverse equitable, and inclusive workspace that reflects the communities they serve, which is critical to meeting their people and business objectives. "By building a workforce of talented individuals who understand the unique needs of our customers, we maintain a key advantage over competitors in the region." 

 

She highlights that the most significant return on investment from DEI in her organization has been promoting a "speak up" culture. "When people feel seen and heard from a DEI context, they feel more comfortable speaking up in other contexts. Our leadership's commitment to truly listening has led to some employee-designed improvements that may have never been known or implemented otherwise." Assessing their current culture was critical in determining the need to integrate DEI initiatives at a greater level. They began by setting a goal to attract and develop talent. But they could only build a strategy to meet that goal once they assessed their strengths and opportunities from a human resources perspective. "From our initial analysis, we identified DEI as an important focus. We then further relied on assessments to determine what specific areas and objectives we should focus on within our DEI program. Gathering employee input and feedback helped us hone in on which initiatives to tackle first." 

 

At KEIRUS BY KJE, we empower leaders first in introducing DEI into the organization. Monica supported this implementation hierarchy and shared the importance of the leaders' mindsets within the organization and how they affect connecting DEI to improving culture. "With any organizational change initiative, it's important to set the tone from the top. From the beginning, our CEO Chris Doyle has served as the executive sponsor behind our DEI efforts and personally made the DEI business case for our leadership and employees. Having Chris's full support behind the initiatives has been critical to building support across the organization. Additionally, leadership's desire to listen and commitment to act has helped employees feel more comfortable speaking their mind in the context of DEI and in all areas of business." 

 

DEI catalyzes culture change, and sustainability is the key to continual improvement. Monica believes that continuing education is critical to the long-term success of DEI initiatives. "DEI training is not just "one and done" and we can all benefit from periodic reminders to be conscious of our behavior and the type of environment our behavior might create. Also, building beyond training with our employee resource groups helps promote a long-term DEI program." 

 We guide organizations to build muti-year strategy and DEI educational plans to transform culture through our philosophy of C.A.R.E. 

 
Your organization can also experience the results that DEI has on culture and up-level your employee’s experience and your customer-facing brand.  Contact Us

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