Diversity and Inclusion and Talent Management at Northern Trust

Diversity and Inclusion and Talent Management at Northern Trust

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Northern Trust's guiding principles embrace #inclusion and diversity of culture. Read the 2014 #CSR Report http://3bl.me/fxpd96
Monday, December 28, 2015 - 11:45am

CAMPAIGN: 2014 Corporate Social Responsibility Report

CONTENT: Article

Northern Trust enforces a workforce policy that does not tolerate discrimination based on race, ethnicity, gender, gender identity, sexual orientation, physical or mental disability, religious choice and many other personal characteristics. In addition, we do not tolerate forced labor, child labor or violating the rights of indigenous people. Our guiding principles embrace inclusion and diversity of culture, thought, experience and other attributes of individuals’ backgrounds, and we hold in highest regard the dignity of, and respect for, all partners in our workplace. We support the principles set forth by the United Nations’ Universal Declaration of Human Rights and strive to treat all individuals equally.

Human Rights and Workforce Principles

Our human rights and workforce principles apply to all our global operations and clearly state our support for the protection of minority groups’ rights, women’s rights and workers’ rights. They expressly reference our conformance with the International Labour Organization’s standards, the Organisation for Economic Co-operation and Development Guidelines for Multinational Enterprises and other public policies. Partners worldwide also may exercise freedom of association with regard to collective bargaining and trade agreements as permitted by applicable regional laws.

One component of our human rights principles applies these standards to our suppliers/vendors as well as our partners who receive training on anti-discrimination, diversity and inclusion and sexual harassment. We also provide training specifically on cultural change, which is especially helpful for expatriates and partners on short-term assignments abroad and global relocation. The principles encompass stakeholder involvement, public reporting, auditing, third-party auditing and quantifiable targets or goals.

A number of senior-level company officers are responsible for the execution of our human rights and workforce standards, and several partners work to implement them. These beliefs commit us to providing fair and equal wages to partners regardless of gender, as well as competitive compensation and benefits to our workforce.

Talent Recruitment and Retention 

Our partners are critical to our success, and we take our search for and retention of top talent very seriously. Talent identification, sourcing and recruiting strategies generally are targeted for specific locations using a variety of channels that include job boards, colleges, networks, associations and online social networks. Hiring decisions are based on a variety of factors, including educational background, relevant experience, past accomplishments, professional licensing where required, and strong evidence of integrity and ethical behavior. 

Recruiting plays a vital role in creating and maintaining a diverse workforce. Our goal is to continue fostering diversity at all levels of our organization since it ultimately contributes to our ability to deliver unrivaled client satisfaction and quality. If there are operational changes that lead to job elimination, we meet or exceed the notification requirements of applicable laws but also make every effort to help partners find alternative positions within the company.

Global Diversity & Inclusion

The diversity & inclusion function reports to the executive vice president and head of CSR and Global Diversity & Inclusion, a direct report to the Chairman & CEO. Our global diversity & inclusion strategy and programs are led by the chief diversity & inclusion officer – Americas, and chief diversity & inclusion officer – EMEA and APAC, both senior positions. 

The engaged leadership of our management group drives our diversity & inclusion strategy, creating an environment of awareness, action and accountability. Our annual diversity and inclusion update is presented to the board of directors for our highest-level decision makers to review. We believe in fostering an inclusive environment where people can contribute and grow, and their unique mix of attributes can serve as the catalyst for innovation through diversity of thought and perspective. To support our global business strategy, we sponsor Business Resource Councils and Diversity & Inclusion Advisory Councils to help ensure that our commitments to diversity and inclusion are embedded in the fabric of Northern Trust.

Diversity & Inclusion Advisory Councils (DIACs)

Regional DIACs are accountable for ensuring diversity and inclusion initiatives align with each region’s strategic imperatives and the organization’s overall goals.

Business Resource Councils (BRCs)

We currently sponsor 10 BRCs that support personal and professional development, providing a forum to promote cultural and civic awareness and strategic support in revenue-generating areas to an increasingly diverse client base.

Click here to read more from the 2014 Corporate Social Responsibility Report