Goldman Sachs Innovation Award - Ally Strategy


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Goldman Sachs Innovation Award - Ally Strategy

  1. 1. Goldman Sachs Ally StrategyLGBT Workplace Equality Innovation SeminarMarch 23, 2011
  2. 2. Our greatest asset is what makes us differentAt Goldman Sachs, diversity is not an initiative. It’s how we do business and it’sreflected in our people. Our Office of Global Leadership and Diversity (GLD) wasfounded specifically to support diversity throughout the firm.One of the many ways the office carries out this mission is to coordinate with thefirm’s Lesbian, Gay, Bisexual and Transgender (LGBT) Network. One of theNetwork’s focus area is to create a broad and informed dialogue on topics suchas sexual orientation and gender identity, as well ensure an inclusiveenvironment where LGBT professionals can unlock their full potential. 2
  3. 3. The Business Case“For us to be successful, our men and women must reflect the diversity of the communitiesand cultures in which we operate. That means we must attract, retain and motivate peoplefrom many backgrounds and perspectives. Being diverse is not optional; it is what we mustbe.” From our Business PrinciplesOur commitment to creating and sustaining a diverse work environment isabsolute, for three reasons: To be the best firm we must have the best people Ours is a culture of team-work Our clients’ interests always come first 3
  4. 4. LGBT Network MissionThe LGBT network’s mission is: “To advocate an inclusive work environment that respects lesbian, gay, bisexual and transgender professionals, and enables them to perform to their fullest potential and contribute to the greater goals of the firm”The Ally Strategy furthers the LGBT network’s mission with the goal of creatingan expansive, engaging and scalable program. 4
  5. 5. Goldman Sachs Ally ProgramGoldman Sachs launched the Ally Program in 2008 with a Pride Month eventfeaturing PFLAG (Parents, Families and Friends of Lesbians and Gays) and theStraight for Equality initiative.The Ally Program was formed to educate and engage the broader community,as well as advance our goal of providing a fully inclusive environment for all ourpeople.Specific Goals:  Create a broader support network for LGBT employees at all levels and within all divisions in the firm  Increase visibility of the LGBT community within the firm  Promote active engagement with senior leadership  Sponsor, support, and mentor LGBT employees so they can excel in their chosen career paths  Ensure that LGBT employees feel that they can bring their “whole selves” to work 5
  6. 6. Goldman Sachs Ally Strategy: ImplementationThe Goldman Sachs Ally Strategy has two engagement approaches:  Top Down - To formally engage partners and managing directors to champion the effort across every division of the firm  Bottom Up - To invite all levels of employees to be LGBT AlliesSome of the managing director ally responsibilities include:  Be an advocate for LGBT issues in their areas and within the firm  Participate in LGBT events – be visible, be informed  Become educated on workplace issues and support LGBT-themed training  Create a sense of community and an inclusive environment within their divisions  Take action – sponsor a divisional plan (recruiting, retention, career development)  Create a safe environment for employees to come out in the workplace  Recruit and oversee “supporter” allies in the division  Provide on-going feedback on events and progress of the network 6
  7. 7. Goldman Sachs Ally Strategy: ImpactMeasures of success include:  Increased dialogue and visibility of the LGBT community within the firm  LGBT network membership increased by 36%, to be the third largest network at the firm  Broadened the network’s reach with respect to programming focused on LGBT inclusion  Global Reach – strategy was replicated in other offices and regions, including Bangalore, Hong Kong, London and Salt Lake City  Increased numbers and eagerness of senior allies across the firm to assume the role  Feedback has been overwhelming positive and engagement meaningfulBest Practices Recommendations  Comprehensive coverage across all divisions/areas of the firm  Ensure support within other affinity networks to broaden membership  Identify key senior champions to support the initiative, and provide them the tools to be successful in the role – make it easy to engage  Continuously develop programming to engage allies – keep it fresh 7
  8. 8. Goldman Sachs Ally Strategy: Impact 8