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Capital One Values Diverse Perspectives
McLean, VA-based Capital One is a leading information-based technology company dedicated to bringing ingenuity, simplicity and humanity to banking. Innovation is powered by perspective, teamwork, mutual respect and doing the right thing. Associates serve with humility and a deep respect for their responsibility to help customers achieve their goals and realize their dreams. Capital One is guided by shared values with corporate efforts measured by the success its customers enjoy and the advocacy they exhibit.
In terms of business imperatives, how necessary is having a diverse workforce?
Meghan Welch, chief diversity and inclusion officer: Fostering a diverse and inclusive culture makes great business sense, and it’s the right thing to do. According to research conducted by McKinsey & Company, businesses that are diverse by gender outperform male-dominated counterparts by 15 percent, while racially diverse companies outperform their peers by 35 percent. By building a team as diverse as the communities and customers it serves, Capital One is in a position to offer better products, services and customer experiences.
What initiatives have been most successful for embracing D&I at Capital One?
Welch: Magellan, an award-winning, comprehensive, eight-month career management program, is offered annually to members of the Voices, Black Business Resource Group, and is designed to give participants the knowledge and skills necessary to grow their careers.
The Hispanic Leadership Development Program, in part, provides one-on-one mentoring, leadership and digital fluency training, as well as access to Capital One Executive Speakers and networking events.
Women in Technology brings women and men together to focus on improving female representation in the technology field, supporting the career development of women in tech roles through mentoring, networking and social events, among others.
Are D&I-related employee resource groups active at Capital One and, if so, to what extent?
Welch: Inclusion at Capital One begins with seven business resource groups (BRGs) designed to encourage associates to experience, learn and connect to other cultures while supporting community efforts. Additionally, there are five associate connection groups, led by associates, which are similar to BRGs, but less formal in structure and operation.
What advice do you have for implementing successful D&I policies?
Welch: While diversity and inclusion are central to the culture of Capital One, and the responsibility of all associates, policy decisions made at the top must be taken seriously and dedicated to examining all perspectives.
In leading Capital One’s global efforts around diversity and inclusion, my work focuses on building a culture where every person’s dignity and worth are recognized and honored, and where diverse perspectives, lifestyles and backgrounds are welcomed and celebrated. Values are at the core of every decision and must be unwavering in terms of doing the best for our customers.
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