Men Advocating for Real Change Workshops Conducted by Catalyst

Challenge

We recognized the disparity in the representation of women at Officer ranks. We also recognized that engaging men as sponsors and allies especially at the leadership level, having their support and active participation is key to recruiting, retaining and promoting women of all backgrounds and imperative to sustained growth and success.

Actions

Since 2019, DTCC’s strategic focus has been on advancing women of all backgrounds, specifically at the higher levels of the organization. This decision was made after reviewing past 5 years of representation data and researching best practices on how to drive realistic change.

  • At the time of the study, gender representation at Officer level ranks (Executive Directors and Managing Directors) was low. We saw an increase in our overall diverse talent, but the percentage of women at the Associate Director level remained relatively flat. 2013 through 2019 only saw a <5% increase in women’s representation at Director, Executive Director and Managing Director levels.
  • The data also indicated our propensity to hire and promote men has continued to increase even though a higher percentage of women were rated as High Potential Talent (HiPo) as part of the annual review process.

In order to address this disparity, we took the following actions:

  • Women’s Focus Groups:
    • The Head of Diverse Talent Management & Advancement spoke in-person with more than 200 women from DTCC globally to hear their stories and gain insights to inform our plans for improved experiences, mobility opportunities and developing longer lasting career paths at DTCC.
  • Continuing focus on diverse candidate sourcing through engagement with professional organizations, educational institutions (HBCUs), and online resources like Jopwell, FairyGodBoss, Black Ivy Alumni League, Women Hack Career Fair
  • Men Advocating for Real Change Workshops (by Catalyst) –
    • In order to foster leadership engagement in the advancement of women at DTCC, we’ve partnered with Catalyst to bring its immersive 1.5-day Men Advocating for Real Change (MARC) Leaders Workshop to our Officers, starting in Q4 2019. This unique workshop is focused on empowering men to stand up for gender equity, recognize the importance and intentional engagement as strong advocates, sponsors and allies and intentionally in creating a gender inclusive workplace.
  • Participated in McKinsey 2019 “Women in the Workplace” study
  • CEO in Action Check Your Blind Spots bus tour
Outcomes
  • As of Q1, 2020 DTCC has held MARC workshops held for 68% Officers (Executive Director and Managing Directors ranks) and received very positive feedback with 89% post-workshop satisfaction survey. Many past participants have expressed the desire to offer this workshop to all men in the organization. Results of the study were shared with the entire organization by Mekala Krishnan of McKinsey and co-hosted by (Women’s ERG).

  • Hosted virtual information session on Technology Advancing Financial Markets Together: The Future of Fin Tech and represented DTCC at FairyGodBoss sponsors’ virtual career fair and SpelHouse Alumni Professional Development Symposium. Focused on sourcing events at prioritized conferences (Black Enterprise Women of Power), colleges and universities (Prairie View A&M University and Polytechnic University, San Juan PR)

  • Hosted CEO in Action’s Check your Blind Spots’ bus tour in DTCC Dallas.170 DTCC and external participants (Dallas Mavericks) went through the experience; 140 pledges were taken on-site itself with overall positive feedback.
Contact

Prachee Kale
[email protected]

Quote

Diverse organizations outperform non-diverse companies in virtually every metric used, and the changing face of society and our population will continue to be — as it’s always been — a source of strength and dynamism

Mike Bodson
DTCC President and CEO
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