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Evidence-based Practices for Addressing Inequality in Credit Unions

Workplace inequality continues to vex organizations, including credit unions. What does research say about the most commonly applied diversity strategies? And what can credit unions do to adapt their strategies for improving diversity and reducing inequality?

Executive Summary

Sixty years have passed since federal legislation mandated government contractors to show evidence towards hiring a more diverse workforce. A current review of research shows that the effectiveness of many interventions aimed at mitigating workplace inequality are mixed. However making modifications to interventions can improve efforts for improving workplace diversity. 

What is the research about? 

This brief will summarize the effectiveness of four different categories of behavioral policy interventions to address workforce inequality including: affirmative action, targeted human resource management, diversity training, and accountability and transparency practices.

Insights from this research can be used to provide recommendations for credit unions to develop and implement organizational interventions for increasing workforce diversity at all levels and for addressing discrimination in the workplace.

What are the credit union implications? 

As organizations commit to improving their diversity initiatives, existing research provides guidance for credit unions wishing to take the next steps towards addressing workplace inequality by making specific interventions that have been found more effective.

Research shows that choosing one or two recommendations alone is insufficient for improving inequality in the workplace. Instead, bundle these initiatives to amplify the positive effects of improved diversity outcomes in your organization.

Filene thanks its members and Inner Circle sponsors for helping support this research from the Center for Diversity, Equity & Inclusion.

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