Targeted Action Plans to ensure implementation of D&I Strategy
Company name : Banque européenne d'investissement
Activity sector : Financial and insurance activities
Company category : Public sector
Define a diversity policy
Description of the action
The EIB approved its third D&I Strategy for the period 2018-2021 in early 2018. To ensure full implementation of the aims outlined in the Bank’s D&I Strategy, and to ensure buy-in from all corners of the EIB, the EIB’s dedicated D&I Office works with the HR interfaces, coordination teams and top management from each Directorate of the EIB to create a dedicated D&I Action Plan. The Action Plans are renewed on a yearly basis, adapted to the evolving situation in the directorate and addressing the individual diversity andinclusion needs of the different areas of the EIB.
The D&I Action Plans are developed on the basis of the D&I Strategy which was approved by the EIB’s Board of Directors in 2018. The actions in the plans relate directly to the targets established within the Strategy and adapted to the individual diversity status of the directorate. Many of the actions are common to all directorates, with annual action targets relative to previous progress and efforts required to contribute meaningfully to Bank-wide targets. Other actions are formulated to respond to specific directorate needs or pilot initiatives that are launched in one corner of the business.
The Action Plans are implemented in parallel to a series of bank-wide initiatives that are managed by the EIB’s dedicated D&I office.
The goals of the D&I Action Plans are:
- To ensure full implementation of the objectives of the D&I Strategy
- To tailor actions to the specific needs and status of all business areas
- To engage a wide number of implementing actors
- To build on the commitment of top management in the D&I agenda
- To open the floor to a wide number of D&I initiatives around the EIB to inspire positive change!
The Action Plans are developed at the start of each year as a collaborative effort between the D&I office, the HR Interfaces for the Directorates, the directorate-specific recruiters, and the directorate coordination teams. The common objectives for all actions are defined by the targets outlined in the 2018-2021 D&I Strategy.
Together, the collaborating partners assess the Directorate’s D&I credentials relative to the Strategy targets, as well as the progress achieved in previous years. Directorate Action Plans endeavour to build on successful progress made in previous years within their own area of the business, or inspired by progress in other business units. Examples of such best practice are shared on a quarterly basis within the EIB’s D&I Working Groups on Sourcing, Talent and Communication & Employer Branding. An analysis is also made of trends relative to the wider market situation vis-à-vis diversity andinclusion.
On the basis of these elements, a series of actions is defined to be implemented over the course of the following year. Actions are assigned to one or more actor for implementation. Measurement indicators are established relative to these actions and a monitoring framework is agreed to ensure that all actions are undertaken fully and in a timely manner.
Once agreed between the aforementioned partners, the plan is presented by the D&I Officer to the Director General of the specific directorate in a meeting involving all implementing partners. The DG provides formal endorsement of the Action Plan which is then communicated to all directorate staff.
Monitoring of progress occurs on a quarterly basis, reporting within a standardised format to the D&I Officer.
Please note that the Action Plans are specific to the directorates and the content of the plans are not shared externally.
The Action Plans contribute significantly to the EIB’s ability to progress continuously towards the goals of its wider D&I Strategy. Tailoring actions to the specific needs of individual parts of the business results in an improved uptake. Moreover, the establishment of the plans ensures that all implementing partners are aware of the actions assigned to them and the obligations that they should fulfil. The monitoring framework established for the action plans enables all implementing partners to check in on progress and redress any barriers or stalled actions in a timely fashion. Finally, the endorsement of the Director General ensures top level buy-in and real commitment to Diversity andinclusion as an organisation.
« To do »
Do not try to implement a strategy without agreed actions to back it up! Do not try to manage an organisational D&I strategy solely from the D&I Office Do not adopt a one-size-fits-all approach
« Not to do »
Ensure that all implementing partners are on board
Track progress continually
Adapt actions to the status and needs of business units
What gets measured gets done!
Ensure that top level management is committed!
https://www.eib.org/en/about/careers/diversity/index.htm https://www.eib.org/attachments/general/strategy-diversity-inclusion-en.pdf https://www.eib.org/en/about/careers/diversity/diversity-inclusion-progress-report.htm
Keywords : Diversity management plan
Published on 17 November 2020