Weaving DE&I, philanthropy into a company's culture
CNA’s chief underwriting officer details why inclusivity and charity are part of a winning strategy for the future.
The end of the year presents an excellent opportunity to reflect and look ahead. This year, we can reflect on the many challenges we’ve continued to face together — the COVID-19 pandemic, devastating hurricanes and wildfires, continued civil unrest and economic turmoil. We can also look to what carried us through these challenges to help us forge a path for the future.
Rooted in social good, the insurance industry offers a natural inclination toward philanthropy, inclusivity and allyship. As I see it, weaving diversity, equity and inclusion (DE&I) and philanthropy into company culture is the way forward.
Building the future
Throughout the last decade or so, our industry has struggled to retain talent and recruit the next generation of professionals. Studies have shown that Gen Z and millennial workers want to work at businesses prioritizing DE&I initiatives, as well as philanthropy and sustainability. While progress has been slow, we, as an industry, are moving in the right direction.
We know diverse candidates want to ensure a prospective employer provides an atmosphere where they can succeed and enjoy colleagues who share and respect their values, aspirations and needs. To accomplish this, we must rethink our hiring practices, including how we source talent from other industries, utilize apprenticeship programs, proactively recruit potential employees from colleges and universities, and how we implement or expand intern programs and internal training. This will demand partnership, collaboration, continuous learning, self-awareness and market awareness. From carriers to agents and brokers, we’re driving these changes together, creating large communities of diverse peoples.
As an industry, we need to demonstrate that philanthropy and DE&I are core parts of our culture. Weaving philanthropy into an overall company culture begins with creating programs that encourage employees to give back to nonprofits they are passionate about. Matching employee gifts and offering a payroll donation program are additional tools most insurance organizations can utilize to ensure their messaging on philanthropy manifests through meaningful action. Additionally, encouraging workers to give back to their communities by volunteering with nonprofits or attending programming to learn more about how those nonprofits and their efforts support diverse communities are positive steps companies can take to ensure their efforts have meaning.
Driving change on an industry-wide scale is a critical responsibility for both individuals and our companies. We want to foster a culture of inclusivity and allyship on both a personal and company-wide level. Personally, I believe in supporting students as they develop the skills to be leaders of tomorrow through mentorship and athletics. I’m an avid supporter of my alma mater, Penn State University, and have helped spearhead a variety of fundraising efforts and endowments for their women’s athletics programs.
As an organization, CNA sponsors nonprofits that align with the diverse communities our employees represent, including the Thurgood Marshall College Fund which provides scholarships and programming for students to attend historically Black colleges and universities. CNA invested in their Innovation and Entrepreneurship Program, which provides education and professional development opportunities for students and, at the same time, helps CNA build a diverse talent pipeline. We also sponsor Girls Who Code’s Summer Immersion Program, a two-week intensive computer science course for rising high school juniors and seniors, where they can learn about careers and internships within the insurance industry.
Additionally, we have robust employee resource groups that help elevate the voices of underrepresented employee groups, champion DE&I initiatives and foster a sense of belonging for all employees.
Continuing to adapt
Due to the pandemic, collaborating on philanthropic and DE&I initiatives has become more challenging. At CNA, we’ve taken these challenges and turned them into opportunities.
The pandemic forced us to rethink how we engage our employees with community organizations. We shifted our annual CNA VOLUNTEER-A-THON, a month-long volunteer initiative, from in-person volunteering to virtual in 2020 and a hybrid version in 2021. We worked with various nonprofit organizations, including the American Red Cross Missing Maps program and Operation Gratitude to provide meaningful virtual events for our employees across the U.S., ensuring they were still able to volunteer from the comfort of their homes.
CNA has stayed nimble throughout the pandemic and continued to meet our colleagues and community organizations where they are. As restrictions lift, we will continue to abide by local social distancing rules and offer outdoor volunteer opportunities in addition to virtual opportunities.
Working together for a better future
Building out our own DE&I and philanthropic initiatives is an important step toward supporting those in need and retaining and attracting new talent to the industry. However, working together collectively, united as an industry, is also essential. Through organizations like the Insurance Industry Charitable Foundation (IICF), our industry is able to rally together to promote charitable giving, volunteerism, DE&I initiatives and more.
The IICF embodies the collective strength of the insurance industry, bringing us together to amplify our impact. The sum of our industry is much greater than its parts, especially when it comes to making an impact within our communities. Organizations like IICF promote values-driven leadership, which allows our industry to encourage employees to use our personal and professional missions to make a difference.
The insurance industry was founded on a commitment to supporting those in need. While recent years may have created new challenges, by working together as an industry and continuing to see the tremendous value in DE&I and philanthropic initiatives we’ll ensure a brighter future for our industry and society as a whole.
Doug Worman serves as executive vice president and chief underwriting officer for CNA. The company will be recognized by the Insurance Industry Charitable Foundation Dec. 7, 2021, at the annual Northeast Benefit Event for its “influence in the industry” and “impact in the community” with the IICF Double I Award.
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