Diversity, Equity, and Inclusion (DE&I) are more than just buzzwords in today’s workplace. As companies strive to create an environment that encourages innovation and improves business results, DE&I becomes a top priority. AXIS, a leading provider of specialty insurance, has made DE&I central to its business strategy. In this article, we will explore AXIS’s approach to DE&I, its initiatives, and achievements.
Creating a welcoming and empowering environment
For many individuals, work is a significant part of their lives, and a sense of belonging in the workplace is vital. Creating an environment where everyone can be themselves is a top priority for AXIS. The company recognizes that people come from diverse backgrounds, and everyone’s experiences are different. Hence, a “one-size-fits-all” approach doesn’t work. By creating an inclusive environment, AXIS values and welcomes diversity in all its forms, ensuring that everyone has a place to belong.
To create a welcoming and empowering environment, AXIS has taken several steps, including training its leadership in inclusive leadership practices and emphasizing that everyone has a role to play in creating such an environment. AXIS also encourages its employees to express their diversity by providing support for the expression of uniqueness through the facilitation of employee resource groups (ERGs).
The journey of DE&I
As AXIS recognizes, DE&I is not a destination, but an ongoing journey. The company acknowledges that DE&I takes time, effort, and genuinely reflects culture as a whole. AXIS shares the belief that sustained growth and evolution only occur through continuous effort. The journey is one of constant evolution and dialogue, with the company focused on improving progress over time.
At AXIS, DE&I is not just a milestone or a task to check off a list. Instead, it is inherent to every employee’s daily activities, requiring continuous improvement through strategic planning and ongoing dialogue.
Diversity of Talent and Thought
With a commitment to diversity, equity, and inclusion (DE&I), AXIS recognizes that a diverse talent pool promotes a diversity of thought. Studies show that a diverse workforce is necessary for companies to stay competitive and relevant. By attracting diverse and unique talent, AXIS creates a company culture rich in innovation and creativity that encourages them to evolve and grow alongside their employees.
AXIS is aware that the benefits of diversity go beyond innovation and creativity. Companies with a diverse workforce are more successful in acquiring and retaining customers, and they are less likely to have any issues related to groupthink or complacency.
Global gender parity goal
One of AXIS’s measurable tactical DE&I-based goals is to achieve global gender parity in all levels of its workforce by 2025. AXIS recognizes that gender parity brings equal opportunities for all employees. AXIS has taken steps to achieve this, including paying employees equitably, ensuring that all recruitment processes are inclusive, and providing equal career growth opportunities to all employees globally.
AXIS’s commitment to gender parity is a strong indication of their intention to ensure equal representation of both genders. This goal is measurable, attainable, and has initiated meaningful progress towards achieving global gender parity.
Bottom-line driven mentality
AXIS approaches DE&I with an understanding that it is a business imperative that positively impacts the bottom line. AXIS recognizes that diversity promotes innovation, which in turn translates into growth opportunities for the organization. The company aligns DE&I with business goals and measures the success of DE&I on a shared bottom line.
Approaching DE&I in this way brings DE&I from solely being a pursuit of the right thing to do to a necessary business strategy. By taking this approach, AXIS ensures that they can measure DE&I’s success and continually refine their efforts.
Employee input and involvement
AXIS understands the importance of grassroots involvement in its DE&I programming. As such, the company takes into account ideas and feedback from its employees at every level. AXIS appreciates that its employees serve as ambassadors for DE&I awareness, driving accountability for each other and holding the organization accountable towards achieving its goals.
To ensure adequate employee engagement, AXIS has established an employee-led DEI council that is comprised of volunteers representing a range of backgrounds, perspectives, and geographies. This DEI council makes recommendations on policies, initiatives, and programs, ensuring AXIS continues to deliver on its commitment to DE&I.
DEI Council and ERGs
AXIS recognizes that there is a unique element of connection among employees who share similar experiences, attitudes, and values. To support employee connectedness, AXIS Operations team has 5 Employee Resource Groups (ERGs) for members and allies of various communities. The five employee resource groups are Pride, Women’s, Black Employee Network, Asian Employee Network, and Veterans.
AXIS is aware that these groups provide a unique platform for employees to communicate their experiences, connect with others, and explore avenues for improvement within the organization. AXIS has made resources available for all employees. The establishment and growth of these groups have been essential for their ongoing success.
Recognition and Achievements
AXIS has consistently worked towards creating an inclusive culture. This effort has been recognized externally through Forbes, which named AXIS as one of America’s Best Midsize Employers for two consecutive years.
This recognition from Forbes serves as a testament to the great work that AXIS has been doing in the field of creating a diverse, equitable, and inclusive culture.
The Individual Employee
The foundation of AXIS’s approach to DE&I success is the individual employee. AXIS recognizes that it takes the support and understanding of each employee to shape the future of DE&I in the organization. AXIS encourages individual action and accountability, and advocates for a culture where everyone feels supported and encouraged to speak up, create positive change, and impact the organization.
Creating a culture that is inclusive, diverse, equitable, and supportive remains a strategic priority for AXIS. The company has taken significant steps to create a welcoming and empowering environment that enables its employees to achieve their fullest potential. With its bottoms-up approach, AXIS continues to listen to and act on its employees’ ideas and feedback, creating a shared responsibility towards achieving DE&I (diversity, equity, and inclusion) excellence. As such, DE&I remains fundamental to its growth, culture, and successful performance going forward.