Embracing Diversity and Inclusion

At Jersey Finance, we value diversity and inclusion (D&I) and we embed it in our corporate values. One of the core principles for us is to respect people with different ideas, strengths, interests and cultural backgrounds to drive our success, fostering a positive work environment. We are committed to promoting diversity, equity and inclusion across the finance industry which we see as key ingredients of the future success of our Island.

Action, not words, is the order of the day – and with that in mind, I’m proud that at Jersey Finance we’re taking positive action to create the diverse, progressive and inclusive sector we need in Jersey. With that we are committed to creating an industry where everyone has the opportunity to reach their full potential.

There’s undeniable value in having a diverse workforce. From productivity gains to increased innovation, achieving an equal, diverse and inclusive workplace is essential for commercial and ethical reasons.

It’s important to also recognise that improving diversity in the workplace is not just about tackling one area, but about being holistic and having D&I aspirations at the
core of your people strategy.

A challenge for the financial and related professional services industry in Jersey, in terms of encouraging a diverse workforce, is attracting talent from a variety of backgrounds. We continue to work with our partners to engage with all schools on the island, with local students who have gone on to continue their education outside of the island and with returners or career switchers. For example, since its inception over 10 years ago, hundreds of students from sixth form schools on the island have taken part in our Life in Finance scheme.

Jersey Finance has a number of local and national partnerships, with DIFERA, Jersey Employment Trust and Progress Together. As well as this, we are committed to being a ‘good business’ (a chartered status awarded by the Jersey Good Business Charter) and we are supporters of the Institute of Directors Jersey (IoD) Vision Statement for diversity and inclusion in the workplace. We are also accredited by Caritas Jersey as the Living Wage employer, aiming to ensure that both employees and suppliers earn enough to be able to live with dignity and thrive, not just survive.

As mentioned, at the heart of what we do is the almost 14,000 strong diverse workforce that makes up the industry.

As a part of our on-going Future-Fit-Workforce initiative one thing we passionately believe in is that working in finance can be for everyone.

A common misconception is that you need to be an expert number-cruncher to succeed in the finance industry but there is a huge variety of roles available to suit all skills.

In fact, we place great emphasis on the individual and their soft skills and work-readiness, including:

• work ethic
• positive attitude
• teamwork
• communication skills
• our diversity and inclusion initiatives
• reconnect

Last year, we held our first ever event aimed at those wanting to re-join the finance industry after taking time out. It was also an opportunity for those looking to switch careers into the finance sector to hear first-hand from those who have been in their shoes and who can offer practical advice on what the next steps could be. This proved to be successful, and it is now a regular part of the events schedule. Our next Reconnect event will be taking place on Tuesday 22 October, you can find out more information and sign up here.

Earlier this year we also launched our new ‘Women in Alternatives’ brunch series and information hub, aimed at female professionals, working in the funds industry, from both Jersey and London. The purpose of setting up this forum up was to create a relaxed environment to facilitate open discussions around the latest trends in the private markets and alternative investments sector. Our hope is that it will provide a network that can help elevate and inspire the next generation of women into the alternatives space.

Our Rising Stars Awards, now in their fifth year are another way we embrace diversity and inclusion. Not only do the awards Diversity and inclusion recognise individuals from across the industry, but we also introduced a specific category to recognise an individual who has demonstrated their positive role in advancing diversity and inclusion in their workplace.

As a small Island, it is critical that we work together with our financial and related services providers in Jersey and the local community. That is why we have partnered with a number of local initiatives to help ensure we create a diverse and inclusive workforce.

Jersey Finance is proud to be a member of DIFERA, Liberate’s employer accreditation scheme.

This is the first scheme in the Channel Islands to award organisations with a quality mark that demonstrates to employees (past, present and future), clients and suppliers that the organisation places diversity (D), inclusion (I), fairness (F), equality (E), respect (R) and acceptance (A) at the heart of their business.

As part of developing our strategy we have identified various goals and educational initiatives to continue improving our awareness and to ensure we consider everybody’s unique perspective as part of everything we do.

In 2023, we partnered with the Jersey Employment Trust (JET) to help raise awareness about the charity and offer Jersey firms an opportunity to work with JET and its clients.
The vital work that JET does helps hundreds of islanders by making employment and vocational training more accessible to people with disabilities. In doing so, they play a critical role in diversifying Jersey’s financial services workforce and nurturing homegrown talent.

Feedback from the industry tells us that having continued access to a varied talent pool helps create a diverse cultural environment that can foster creativity and innovation. We hope our partnership with JET encourages the finance industry to further engage in broader discussions around employment strategies concerning accessibility, diversity, equity, and inclusivity on-island. These are essential factors when considering Jersey’s workforce and sustainable practices.

This year we have joined Progress Together as an official supporter.

Progress Together is an organisation which helps its members to enhance and retain a socio-economically diverse workforce. By acting as an advocate, Jersey Finance will be able to leverage and share knowledge and experiences of how to support the journey towards true socio-economic diversity in the financial and related professional services as a whole. The aim is for everyone within the industry to have equal opportunity to progress.

It’s clear that D&I in all of its forms is vital for the future prosperity and enrichment of Jersey – not just the finance industry. This can only be achieved by working together – across all sectors – and with the local community to ensure a better future for the benefit of all islanders.

This article was originally featured in Connect magazine.