“The most important driver of culture is the nature of the dialogue. What we signal is what is important, and it matters every day what we say,” said Shundrawn Thomas, president of Northern Trust Asset Management.
One way the organization fosters that dialogue is through the activities of its employee resource councils and forums. For example, in 2021, NTAM held events such as the AAPI Listening Circle, where Asian American and Pacific Islander employees shared their experiences regarding discrimination, and a Juneteenth panel discussion, featuring Black senior leaders, including Thomas, speaking on “The Costs of Freedom: Past, Present and Future.”
“One of the realities is, we have not captured fully the promise of diversity,” he said. “We have to get there on purpose. It’s part of the vision. Our core values – passion, curiosity, competence, diversity and humility – influence how we engage with one another.”
It’s important to acknowledge the things that impact employees and to communicate that the company is investing in their well-being. It’s also good for the bottom line, Thomas said.
“These events are opportunities for us to learn about one another. Dialogue creates a higher level of trust and engagement beyond just having a good strategy. This translates into better performance, which in turn, leads to growth in AUM and fees,” he said.