Understanding the composition of our workforce is important in ensuring a diverse workforce and inclusive culture. Employees are often hesitant to share personal information-leaving companies without accurate data and insights. Without voluntary self identification information, it's difficult to identify the challenges employees face, provide necessary resources and assess the effectiveness of recruitment and retention efforts.
To overcome this challenge, Principal created a best practice actively engaging employees in the self-identification process. Our first step was embedding opportunities for voluntary self-identification of individuals with disabilities and veterans into our annual Global Code of Conduct training. This contributed to an immediate increase in our voluntary self-identification percentage and led us to implement a comprehensive approach towards voluntary self-identification and a better understanding of our employee population. These actions provided employee education on the voluntary self-identification process which dispelled myths and fears around how the information is used and why it is requested.
Here's a bit more on how we achieved our desired outcomes:
Through the implementation of our voluntary self-identification plan, we achieved a 62% increase in disability voluntary self-identification and a 13% increase in veteran voluntary self-identification compared to the previous year. There was also an increased understanding regarding the voluntary self-identification process, its purpose and use. We plan to expand this framework to other dimensions of voluntary self-identification as we continue to grow our commitment to diversity, equity, and inclusion in the workplace, our business practices and in our communities.
Miriam Lewis
The CEO Action for D&I pledge re-affirms my commitment to DE&I in the workplace, in our business practices, and in our communities each day as we seek to provide access to financial security to all of our customers around the globe. I've pledged to continue to be a catalyst for change and proceed with more intentionality as we can, and must, do more.