The benefits of building a diverse and inclusive workforce are well documented, which is why many advice firms are working hard on the recruitment and retention of talented individuals from all walks of life.
But is enough being done to attract people with disabilities and show them they are wanted by the profession?
A higher profile?
Industry commentators believe that, although the focus has largely been on other characteristics, such as gender and ethnicity, things are changing. Disability is getting more attention from employers.
Zurich head of market engagement Peter Hamilton has spent two years as disability and access ambassador for the government’s Disability Unit, representing the insurance sector.
Make it clear you’re willing to adapt and be flexible if they’re the right person for the role
Hamilton recently listened to a podcast featuring Mike Adams, founder and chief executive officer of Purple — a provider of consultancy and training services to help businesses engage better with disabled people.
“He’s doing amazing work,” says Hamilton. “He talks of the importance of reframing the conversation on disability to focus on value, contribution, community and opportunity.”
For Hamilton, one of Adams’ standout comments was: “In this decade, organisations that get disability, inclusion and diversity will absolutely thrive. Those that don’t will struggle to survive.”
In the UK, it is estimated around seven million people of working age have a disability.
“They, together with their families, have a spending power known as the ‘purple pound’, worth around £274bn, and they want to spend on products and services that work for them,” says Hamilton.
If you create the right culture, disabled people will want to stay, develop and challenge themselves
If those individuals need financial advice, the presence of people who can relate to having a disability could enhance its appeal and encourage them to find an adviser.
Of course, not all disabilities are visible and people with a disability that may not be immediately obvious must also be represented.
“Understanding and celebrating the diversity within our business helps us to benefit from varied experiences, different knowledge and new ways of thinking, which are hugely important to the success of any business,” says Hamilton.
“We want our teams to reflect the customer base they serve, and that should absolutely include disabled customers.”
This is not about employing disabled people out of pity — rather, employing talented people who just happen to be disabled.
Understand how they feel and create an open and inclusive culture where they feel they can be themselves at work
According to Jane Hatton, founder and CEO of Evenbreak, a not-for-profit global disability job board, 20% of adults of working age are disabled or have a long-term health condition — a lot of talent to ignore in a time of skill shortages.
“Disabled people often bring additional skills, developed through having to navigate disabling barriers every day; skills like resilience, creative thinking and problem solving,” says Hatton, who is disabled herself.
“Evenbreak candidates have an incredibly diverse range of skills, including data science, finance, tech skills, customer service, management and many more.”
However, are employers effectively communicating the message that they are interested in prospective employees who have disabilities?
“Our experience is that many companies in the financial services sector are more inclusive than they give themselves credit for, but disabled candidates may not know that,” says Hatton.
Allow candidates the chance to demonstrate their job skills and their ability to complete necessary tasks
“It’s important to proactively welcome applications from disabled people through advertising on disability job boards or in disability journals, by ensuring that disabling barriers are removed from the recruitment process and that adjustments are offered, if required.”
Under the Equality Act 2010, there is an obligation for employers to make reasonable adjustments to support disabled job applicants and employees.
“Most of those adjustments are easy and cheap to implement. The average is under £100,” says Hamilton.
Disability Confident scheme
Hatton says employers may feel nervous about hiring a disabled person, but they will find it easier and more beneficial than expected.
“Don’t feel you have to have everything in place before employing disabled people. You’ll already be employing more [people with disabilities] than you realise and it’s important to just start somewhere.”
Understand your demographics to identify any gaps and ensure you have the right training and development opportunities
According to Hamilton, one of the challenges for employers is ensuring the conversation around disability happens at a senior level.
“One way is to highlight the benefits that the government’s Disability Confident scheme provides,” he says.
This initiative is designed to encourage employers to improve how they recruit, retain and develop staff with disabilities.
“Zurich understands the benefits of employing people with disabilities. We were the first insurer to be accredited with Disability Confident leader status, which brings insight and action,” says Hamilton.
Many companies in the financial services sector are more inclusive than they give themselves credit for, but disabled candidates may not know that
“We publish our disability pay gap and the steps we are taking to close it. We also celebrate the contributions made by all our colleagues.”
Many firms in the advice sector have signed up to the scheme, including protection specialist LifeSearch, Succession Wealth and The Openwork Partnership.
“Having a Disability Confident status not only demonstrates a business’s willingness to be open-minded and adapt its ways of working, but encourages employers to act and hold themselves accountable when recruiting and developing employees with disabilities,” says The Openwork Partnership HR director Carrie Morris.
However, there is still work to do.
“All employers should educate more on recognising and accommodating for all disabilities in the workplace; create a culture to remove barriers and the stigma around hidden disability; and communicate more effectively on what support is available for employees with disabilities,” says Morris.
Understanding and celebrating the diversity within our business helps us to benefit from varied experiences, different knowledge and new ways of thinking
When hiring, firms should think about their job descriptions, making sure they are accessible and easy to read, adds Morris.
“Make it clear you’re willing to adapt and be flexible if they’re the right person for the role,” she says.
“Allow candidates the chance to demonstrate their job skills and their ability to complete necessary tasks.”
The right culture
To retain talent, firms should listen to their disabled employees.
“Understand how they feel and create an open and inclusive culture where they feel they can be themselves at work,” says Morris.
We want our teams to reflect the customer base they serve, and that should absolutely include disabled customers
“Carry out some honest investigation into your own data. Understand your demographics to identify any gaps and ensure you have the right training and development opportunities.”
With disability taking many forms on both mental and physical sides, employers may be unaware of some of their staff’s disabilities. Certain employees will not want to share the details with bosses, particularly when applying for a new job. They may worry about being treated differently or that their application may be parked to one side, despite legislation making it illegal to discriminate on the basis of disability.
“Individuals don’t have to share their personal circumstances and whether they have disabilities,” says Succession Wealth head of HR Matthew Gent.
His antidote to this is for employers to try to create a work environment where staff feel it is safe to share these things and know that support is in place if needed.
Disabled people have a spending power, worth around £274bn, and they want to spend on products and services that work for them
“If we don’t know about it, we can’t provide support,” he says. “If we can start to open up the conversation, it allows employers to support more people.”
Gent thinks firms will see an improvement in the recruitment and retention of disabled people only through collaboration with them. In practice, this means being willing to listen, learn and take action where needed.
“At Succession, we try to listen, understand and consider,” says Gent. “If you create the right culture, people will want to stay, develop and challenge themselves.”
This article featured in the Dec 2023/Jan 2024 edition of MM.
If you would like to subscribe to the monthly magazine, please click here.
Comments