Diversity and Inclusion: A Training Program

Submitted as part of the requirement of continuous internal assessment of Professionalisation

Seminar

By
Bhairavi Handique
2337615
2MPHR

Under the guidance

of
Dr.Vijaya R
MPR 211

Department of Psychology
CHRIST (Deemed to be University)

Bangalore

February 25, 2024

 Diversity and Inclusion: A Training Program
Introduction

According to 5 Examples of Employee Training and Development Programs (2020),

investing in learning could lead to 90% of employees staying with a company for a longer

duration. Additionally, as stated in What Is Diversity, Equity, and Inclusion (2022), diverse,

equitable, and inclusive companies are better equipped to address challenges, attract top talent,

and cater to diverse customer bases. Despite a surge in companies pledging to prioritize diversity,

equity, and inclusion in recent years, the World Economic Forum notes that tangible results are

yet to be seen, with only a minority of companies holding themselves accountable for DEI

practices, as highlighted by Mandelbaum (2023). Moreover, companies with a higher

representation of women in executive positions tend to outperform those with fewer women, as

per findings by Fyle-Dixon et al. (2020). While this training program primarily targets

employees in the finance sector, it is adaptable to other industries, offering a comprehensive

approach to raising awareness and addressing diversity and inclusion challenges in the

workplace.

Rationale for the Sector

Historically, diversity and inclusion training in the finance sector have not been given

significant attention. Nevertheless, there is an increasing acknowledgment of their significance

within the financial services industry. Such training programs are deemed crucial in finance for

several reasons. Studies indicate that diverse workforces in financial firms are more adaptable,

profitable, and likely to expand market share (Taylor, 2024). According to Steenbarger (2020),

companies fostering inclusive cultures make better decisions 87% of the time and achieve 60%

better outcomes. Additionally, embracing diversity and inclusion not only aligns with moral

imperatives but also aids companies in regulatory compliance and enhances their reputation
among stakeholders, including clients, investors, and the public (Hendricks, 2022). Lastly,

financial institutions are under pressure from various stakeholders, including customers,

employees, investors, and political entities, to bolster their diversity and inclusion efforts

(PricewaterhouseCoopers, n.d.).

Schedule of the Training Program

9:00 AM - 9:30 AM: Registration and Networking

Upon arrival, participants will register to receive a "certificate of participation" at the end

of the session. A welcome table will be set up with program details and materials, alongside light

refreshments. An icebreaker activity called "Seven Word Biographies" will encourage

networking and introductions among participants (American Red Cross, n.d.). Materials needed

include paper, pens, or pencils, with a time frame of approximately 5 minutes for completion,

followed by 2 minutes per person for sharing. The game challenges players to summarize their

life story in exactly seven words, promoting thoughtful reflection and engaging conversation.

Each participant will have the opportunity to share their biography and respond to inquiries for

elaboration within a two-minute time frame.

9:30 AM - 9:45 AM: Welcome and Introduction to the Program

The program facilitator greets attendees and provides a concise outline of the program's

schedule, goals, and anticipated outcomes. They introduce the trainer, highlighting their

credentials. Additionally, they establish guidelines to ensure a conducive and inclusive learning

atmosphere.

9:45 AM - 10:45 AM: Understanding Diversity and Inclusion in Finance

We will commence with a brief game titled "Step Apart, Step Together," followed by an

explanation of its relevance in the workplace. This exercise highlights both differences and
similarities among participants. Two individuals will face each other while the group mentions

various factors like birthplace, favorite food, hair color, and religion. Participants will step apart

for differences and together for similarities. The underlying message emphasizes that despite

differences, commonalities exist to bring people together. We will subsequently discuss the

purpose and significance of the activity in relation to the training program.

10:45 AM - 11:00 AM: Tea/Coffee Break

11:00 AM - 12:00 PM: Unconscious Bias in Financial Decision-Making

Commencing with the "Unconscious Bias Test" (Atana, 2017) YouTube video, this

segment will facilitate an interactive exploration of fundamental concepts surrounding

unconscious bias and the audience's comprehension of it. Subsequently, another video,

"Unconscious Bias @ Work - Diversity & Inclusion Training" (TrainingSideways, 2018), will be

presented, illustrating real-life scenarios depicting unconscious biases in workplace settings.

Midway through the video, a pause will allow the audience to identify observed biases and

propose solutions. Additionally, participants will be encouraged to share personal experiences,

reflecting on their feelings and potential avoidance strategies.

12:00 PM - 1:00 PM: Lunch Break

1:00 PM - 2:30 PM: Strategies for Building Inclusive Teams and Organizations

A professional guest speaker can be invited to facilitate the session. They will begin by

prompting the audience to suggest strategies for building inclusive teams, noting responses on a

whiteboard and discussing their importance. The speaker will conclude by leading the "Follow

The Diversity Calendar" (Sarma, 2023) activity, wherein participants gather to compile a list of

their celebrated festivals and multicultural holidays. This list will be organized into a chart for all

to view, fostering awareness and encouraging shared celebrations among employees.

2:30 PM - 3:00 PM: Interactive Activity: Case Study Analysis

The case studies will center on a fictional scenario involving the LGBTQ+ community

and individuals with disabilities, exploring the challenges they encounter and potential strategies

for addressing them. Each participant will receive a handout containing the two case studies,

followed by a comprehensive discussion session.

Case Study 1. Sarah, a lesbian investment manager at a prestigious wealth management

firm, consistently outperforms her colleagues. However, she feels excluded from networking

events and informal gatherings, often dominated by heterosexual men. She observes subtle biases

in language and humor, and her suggestions for diversifying the portfolio are met with

skepticism. Feeling undervalued and unheard, Sarah starts questioning her career path within

the firm.

A few of the discussion points for the above case can be-

1. What are the challenges that can be seen in the case study?

2. How can the firm create a more inclusive environment for LGBTQ+ employees?

3. How can mentorship programs be designed to support and empower LGBTQ+ talent?

Case Study 2. David, a young financial analyst with a visual impairment, struggles to

access essential software and training materials due to incompatibility with assistive

technologies. He feels hesitant to disclose his disability for fear of discrimination and limitations

in career opportunities. The firm's physical infrastructure also presents challenges, with

inaccessible meeting spaces and limited support for alternative communication methods.

A few of the discussion points for the above case can be-

1. What are the most crucial challenges seen in the above case study?
 2. How can the firm ensure its technology and infrastructure are accessible to employees

with diverse needs?

3. What policies and procedures can be implemented to create a more inclusive and

supportive environment for employees with disabilities?

4. How can communication practices be adapted to ensure everyone can participate

effectively?

3:00 PM - 3:15 PM: Tea/Coffee Break

3:15 PM - 4:30 PM: Effective Communication in a Diverse Workplace

In this segment, a PowerPoint presentation will showcase captivating visuals and brief

YouTube videos addressing communication in diverse workplaces. Initially, a video titled

"Gestures Around the World" (The World is Our Thing, 2017) will illustrate global

communication differences, highlighting potential causes of misunderstanding and

discrimination. Following this, the video "That Little Voice" (RBC, 2020) will evoke empathy by

exploring the experience of exclusion, fostering audience perspective-taking.

Concluding the topic, a game named "paper tear" will be introduced, tailored for

workplace diversity, though it lacks widespread recognition. Participants will receive verbal

instructions to fold and tear paper, intentionally left ambiguous to provoke varied interpretations.

This exercise aims to demonstrate how clarity in instructions is subjective, leading to diverse

outcomes influenced by individual backgrounds. By reflecting on the activity's objectives,

participants can cultivate empathy for differing perspectives, understanding the complexities of

communication in diverse settings and embracing the absence of a singular "correct"

interpretation.
4:30 PM - 5:00 PM: Q&A Session and Closing Remarks

Finally, there will be an open forum where participants can pose questions and express

any lingering thoughts or concerns. The program facilitator will prompt the audience to

recapitulate the main insights and lessons learned throughout the day. Closing remarks

expressing appreciation to the participants will conclude the training session. Additionally, each

participant will receive a feedback sheet to complete.

Budget

Venue Rental: ₹20,000

Refreshments and Lunch: ₹35,000

Training Materials (Handouts, Stationery): ₹7,000

Facilitator Fees: ₹20,000

Guest speaker Fees: ₹20,000

Total Budget: ₹1,02,000

Resources Required

Venue with seating capacity for 30 people

Audio-visual equipment (projector, screen, microphones)

Charts, markers, and pens

Printed handouts and training materials

Tea/Coffee and lunch arrangements

Number of Participants

The program can accommodate up to 30 participants to ensure interactive engagement and

personalized attention.
Facilitator Fee

As the trainer, my fee for conducting the one-day training program is ₹20,000.

Effectiveness of the program

The diversity and inclusion training initiative aims to attain several primary educational

goals. Participants will acquire a comprehension of diversity and inclusion principles, including

the acknowledgment of workplace variances, biases, and obstacles. Additionally, the program

underscores effective team building and communication tactics, utilizing interactive exercises

and case studies to foster inclusivity. Discussions and real-life scenarios will heighten awareness

of unconscious biases and their impact on decision-making. Moreover, the training provides

insights into inclusive organizational strategies, such as diversity calendars and mentorship

programs. Participants will develop empathy and perspective-taking skills, evident in activities

like the "paper tear" game, promoting understanding of diverse viewpoints and emphasizing

clear communication's importance in reducing misunderstandings. Furthermore, the program

encourages continual learning and reflection, with the Q&A session fostering introspection on

key insights, nurturing a culture of ongoing improvement.

This program distinguishes itself from others by prioritizing interactive methods over

passive lectures, enhancing engagement and retention. Additionally, it strongly emphasizes

cultural sensitivity, as seen in activities that actively promote cultural awareness and celebrate

workplace diversity.

While the program excels in its industry-specific focus and interactive approach, it could

broaden its coverage of diversity, adopt evidence-based practices, and provide long-term support

similar to existing programs. Overall, the program is poised to be sustainable and applicable in
the future, fostering employee engagement while underscoring the importance of diversity and

inclusion.

Limitations of the Program

Several potential constraints may exist with the aforementioned program. The packed

schedule might restrict thorough examination of subjects and impede substantial discourse.

Although interactive exercises such as the "Seven Word Biographies" and "paper tear" games

seek to involve participants, their vagueness could result in diverse understandings and indistinct

learning outcomes, reducing efficacy. Furthermore, the program's emphasis on theoretical

scenarios and subjective interpretations of biases might inadvertently bolster stereotypes or

inadequately confront systemic challenges within the financial sector. Lastly, the lack of formal

assessment criteria or follow-up procedures constrains the program's capacity to evaluate its

lasting influence.

Learning Outcomes

A few personal learning outcomes would be obtaining a more profound comprehension

of diversity dynamics in the finance domain through interactive engagements and case studies,

identifying and addressing unconscious biases in financial decision-making, acquiring strategies

to promote inclusivity in teams and organizations, nurturing empathy and understanding towards

diverse backgrounds, refining communication abilities in diverse work settings, and honing

critical thinking and problem-solving skills to effectively tackle diversity-related issues. This

holistic learning endeavor provides me with the expertise and competencies needed to foster

inclusive workplace environments and advocate for equity in the finance sector.
Conclusion

In summary, the Diversity and Inclusion Training Program addresses the increasing

acknowledgment of diversity's significance in finance. Through interactive exercises,

sector-specific case studies, and expert input, it provides participants with actionable tactics for

promoting inclusiveness and managing obstacles. Its sustainability stems from its versatility

across sectors, commitment to ongoing learning, and cultivation of an inclusive and empathetic

culture. Despite possible drawbacks, the program's holistic approach fosters substantial

engagement and enduring influence, fostering progress in organizational diversity and inclusion

efforts.
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