Understanding the 'Why' in Diversity

The fintech sector is booming, with innovations reshaping the financial landscape daily. However, along with rapid technological advancements comes the pressing need for an inclusive workplace culture. Fintech recruitment, driven by specialised fintech recruitment agencies and fintech recruiters, plays a crucial role in shaping this culture. In a recent episode of Fintech’s DEI Discussions podcast, Nadia hosts Toby Mildon, an experienced diversity and inclusion specialist, who shares insights on creating inclusive environments in the fintech industry.

Championing Inclusive Recruitment in Fintech

Toby Mildon’s work centres on collaborating with HR heads to develop robust DEI strategies. These strategies are designed to attract, recruit, and retain diverse talent, thereby fostering inclusive cultures where everyone can thrive. Toby's expertise in creating bespoke recruitment campaigns, particularly for new board directors, ensures that fintech companies not only hire inclusive leaders but also future-proof their organisational culture against exclusionary practices.

A Journey from Exclusion to Advocacy

Toby’s passion for diversity and inclusion stems from personal experiences. Born with a rare neuromuscular disability, Toby faced significant barriers entering the workforce. His professional journey, which includes roles at Accenture, the BBC, and Deloitte, exposed him to both inclusive and exclusive workplace environments. These experiences fueled his desire to ensure that others do not face similar challenges and can thrive in their careers.

From Technology to Diversity and Inclusion

Before transitioning to diversity and inclusion, Toby worked extensively in technology. His tenure at the BBC as a technical project manager saw him addressing gender imbalances within the tech department. This role provided a gateway into diversity and inclusion, where he applied principles from user experience and design to develop DEI strategies. Toby emphasises the importance of putting the human experience at the centre of solution design, a practice often overlooked by businesses focusing more on fixing individuals rather than addressing systemic barriers.

Architecting Inclusive Cultures in Fintech

Toby’s role as an inclusive culture architect involves guiding organisations through the process of designing and implementing inclusive practices. Much like an architect, Toby helps refine concepts and develop blueprints for creating environments where talent can flourish. His approach underscores the significance of systemic change over superficial interventions, advocating for an inclusive culture that permeates every business unit, from marketing to procurement and facilities management.

Engaging All Stakeholders in Fintech Recruitment

One of the key misconceptions Toby addresses is the belief that diversity and inclusion are solely the responsibility of HR departments. While HR plays a significant role, true inclusion requires the involvement of every business unit. For instance, marketing teams must ensure campaigns are inclusive, procurement should diversify supply chains, and facilities management should create accessible work environments. This holistic approach ensures that inclusion becomes an integral part of the organisational fabric, benefiting everyone.

Empowering Leaders to Drive Inclusion

Toby also highlights the importance of senior leadership in driving inclusive practices. Leaders often approach DEI from either a rational or emotional perspective. Rational leaders rely on data, understanding how diversity enhances innovation and profitability, as evidenced by reports from McKinsey. Emotional leaders, on the other hand, are driven by personal connections to diversity issues or the desire to create inclusive workplaces for future generations.

However, leaders often face fears associated with discussing diversity and inclusion, such as the fear of saying the wrong thing or causing offence. Toby addresses these concerns by promoting awareness of implicit biases and encouraging leaders to confront their fears. By doing so, they can make more inclusive decisions, benefiting the entire organisation.

Actionable Steps for Creating Inclusive Fintech Workplaces

To create truly inclusive fintech workplaces, Toby suggests starting with the "why" of DEI. Understanding the importance of diversity and inclusion to the business is crucial. Leaders must navigate the delicate balance of rational and emotional motivations, confronting fears and biases that hinder inclusive practices. This comprehensive approach ensures that DEI becomes embedded in the company's culture, promoting an environment where all employees can thrive.

The Role of Fintech Recruitment Agencies

Fintech recruitment agencies and fintech recruiters play a pivotal role in shaping inclusive workplaces. By partnering with these agencies, companies can access diverse talent pools and ensure that their recruitment practices align with inclusive values. These agencies are adept at identifying candidates who not only possess the necessary technical skills but also contribute to a diverse and inclusive workplace culture.

Careers in Fintech: Opportunities for All

The fintech industry offers a wealth of opportunities for professionals from diverse backgrounds. Careers in fintech are not limited to technical roles; they encompass a wide range of positions that require varied skills and perspectives. By promoting inclusivity in fintech jobs, companies can harness the full potential of their workforce, driving innovation and growth.

Walking the Talk in Fintech Inclusion

Toby’s insights highlight the critical importance of inclusive practices in fintech. By engaging all stakeholders, from senior leaders to recruitment agencies, and addressing systemic barriers, the fintech industry can create workplaces where everyone can thrive. As Toby aptly puts it, understanding the "why" of diversity and inclusion is the first step towards creating a truly inclusive environment. By walking the talk, fintech companies can set a powerful example for other industries, demonstrating that inclusivity is not just a goal but a fundamental business imperative.

In summary, the journey towards inclusive fintech workplaces involves collaborative efforts, strategic planning, and a commitment to embracing diversity at all levels. Through effective fintech recruitment practices and a holistic approach to DEI, the industry can pave the way for a more inclusive future, benefiting individuals and organisations alike.