Independent Banker - June 2021 - 31

Next: ICBA challenges the credit union tax exemption 
out candidates at historically Black
colleges or schools with minority-based
organizations or business groups, such
as a Black student union, an AsianAmerican
and Pacific Islander student
association or a Hispanic-American
chamber of commerce. " These are
great ways for community banks to
spread their net, especially those that
are in demographic areas that are not
diverse " she says.
Kaplan agrees. " If you want to
diversify your workforce, you have
to diversify your thinking, " he says,
adding that how a bank writes its
job descriptions affects the pool
of qualified applicants. " To say
someone must have 15 years of
commercial lending experience
or 20 years of finance experience,
in a bank of XYZ size, can be
unintentionally exclusionary. "
Cameron Boyd, financial services
practice director at Smith & Wilkinson,
an executive search and leadership
consulting firm in Scarborough, Maine,
says community banks may have to
" Because [community] banks are so
community minded ... it's in their DNA
to strive to hire a more diverse population. "
-ALAN KAPLAN, KAPLAN PARTNERS
broaden their intended applicant pool.
" We've had a lot of success
recruiting [diverse] candidates for
organizations willing to think a little
differently, " he says. " If the criteria
are that we're looking for someone
exceptionally smart with a diverse set
of life experiences ... then your odds
of having a diverse candidate pool are
that much greater. "
Boyd believes the pandemic has
expanded the kinds of settings in
which employees can be effective.
For example, remote work for certain
positions could attract a wider array
of candidates. " We tell our clients that if
you're willing to leverage the fact that we
all know how to work remotely now, and
if you're willing to think outside the box
in terms of what a [position] looks like
on paper, " he says, " then we can put a
diverse candidate pool in front of you. "
Diversity from a regulatory standpoint
Section 342 of the Dodd-Frank Act brought diversity policies to
the forefront for the FDIC, the Office of the Comptroller of the
Currency (OCC), the Consumer Financial Protection Bureau (CFPB)
and other financial regulators-and yet the community banks that
they regulate are typically not subject to the same requirements.
Jennifer Nodes, principal at employment law firm Jackson Lewis
in Minneapolis, wants to debunk the idea that diversity is solely
about increasing the number of women or racially diverse people
on the board and/or the executive leadership team.
Rhonda Thomas-Whitley, ICBA vice president and regulatory
counsel, believes that community banks are working hard to
increase diversity within their own institutions. " Community banks
are in the community and take issues of diversity to heart, " she says.
" [They] work hard to serve the communities in which they operate, in
all capacities, including recruiting. "
Fostering an inclusive culture
A community bank may attract
diverse hires, but if the culture is
not welcoming to them, those new
hires may not stay. " It's important to
remember that part of the diversity
equation is inclusion, " Boyd says.
" Once your new hires are there, you
want to make sure that you're providing
them worthwhile opportunities, "
Thomas-Whitley says. " They want to
excel and shine and have a seat at the
table. It's as simple as that. "
Before embarking upon a diversity
push, speak with employees from
different backgrounds to understand
their experiences. " Do they actually feel
included? Do they feel seen and heard? "
Kaplan says.
He adds that attracting and
retaining a diverse workforce will
hinge on future-oriented initiatives like
mentoring, unconscious bias training
and fostering a welcoming culture. He
says, " Boosting diversity in senior ranks
will require a long term commitment to
revitalizing hiring, inclusivity and talent
development efforts. " 
Elizabeth Judd is a writer in Maryland.
independentbanker.org Q 31
http://www.independentbanker.org
Independent Banker - June 2021

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