Company name : BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A.
Activity sector : Financial and insurance activities
Company category : SME
Description of the action
Type of action: Internship Program offers diversity in terms ofgender, generations, nationality and cultural background.
Cible: When setting up the Internship Program, different target groups are involved. On the one hand we have the interns that we recruit, and these are Bachelor 4 or Master 1 students. This population is extremely diverse as we have established a partnership with various colleges and universities:
• Bocconi university - Italy
• Universidad Europa - Spain
• ESCP – France
• ESCE Grande Ecole de Commerce - France
• ESSEC - France
• EDHEC Business School - France
• LSB (lux school of business) - Luxembourg
• Catolica - Portugal
• University of Limerick – Ireland
On the other hand, the following groups are integrally involved in the implementation of the program: the hiring managers, recruiters, HR, mentors, managers and colleagues of the teams where an intern is recruited. On a larger scale, we can say that the entire firm is directly and indirectly involved in the internship program.
Durée: we have twice a year an internship cycle of 6 months; one cycle from February until July and a second one from August until December.
Context
The idea to set up the internship program came from the Talent and Acquisition team as they are always looking for innovative and diverse recruitment techniques. The program offers the firm an ideal opportunity to introduce young talent to the company. At the same time, it also offers us the opportunity to build a talent pipeline.
Given the changing society and the context in which we find ourselves, it quickly became clear that the diversity of young talent gives us extra added value. The intern’s (and employees in general) diverse backgrounds, life experiences, and their ways of thinking help us consciously with their sustained effort, to continue cultivating a workplace where all employees feel valued, included and empowered to deliver their best. As we look to the future of work, our continued commitment to welcome and support the diverse backgrounds, viewpoints, and circumstances of our employees will be critical to our success. Diversity, Equity, andinclusion is a never-ending journey that is visible in all actions taken or projects set up such as the internship program.
Objectives
The Internship Program supports BBH strategy in pipelining for our entry-level positions. Namely, trained in-house from such early stage in their career will facilitate their growth and teams’ succession planning. However, there is another reason we are so committed to our internship program. One of the goals of BBH is advance Diversity and equity supported by a strong culture ofinclusion, accountability, and employee engagement. This goal guides our firm and all the projects we undertake, including our internship program. We achieve this specific goal through the following three actions:
Please see more context under 'Liens" - as there was not enough place to write all the objectives.
Approach
The idea to set up the internship program came from the Talent and Acquisition team as they are always looking for innovative and diverse recruitment techniques. Once the team has developed the concept, they present it internally to the business and request the necessary approvals from the Executive Committee and the Senior Leadership team. In addition, budgets are requested for the compensation of the interns, participation in external events and online communication campaign.
During each recruitment cycle, the current project manager, Veronika Vorontsova, contacts the business to ask who has an open position for the internship program. Per cycle, there are approximately 24 open roles. The process itself is led by Talent & Acquisition and is furthermore a collaboration between the business and the mentors. The mentors participate on a voluntary basis and are employees who have been active within the firm for at least 3 years. Here too, we opt for diversity in experience, age,gender, and business department.
It is important that the business, the mentors, the interns and the project manager all contribute to the diversity of the program.
Impact
We can notice a two-part impact of our internship program:
1) We see an increase in open internship vacancies between 2021 and 2023 by 30% per year. In addition, we have the success rating that +-80% of our open entry-level positions are subsequently filled by interns.
2) Since the start of the internship program in 2021, we have been striving for 50%-50% in terms ofgender diversity and a diverse group as possible. To date, the following dates can be presented for 2024: 54.5% of female and 45.5% of male students. We have more than 14 different nationalities from different countries: India, France, Germany, Ireland, Republic of Ecuador, Brazil, Italy, China, Vietnam, Azerbaijan, Luxembourg, Iran, kingdom of Morocco and Belgium.
By pursuing our objectives and actions stated above, we aim to maintain this rating with the possibility of improvement in the future.
« To do »
1) Diverse and inclusive job description. It is important to use inclusive language to avoid unintentional bias. Focus on essential skills.
2) Expend recruitment channels. Advertise job boards across different countries. Partner with academic institutions that support diverse candidates. Leverage employee’s referrals. Attend diversity-focused career fairs events.
3) Inclusive assessment processes. Use skill-based assessment. Evaluate potential and transferable skills over past titles or experiences. Include diverse panelist on the recruitment process.
« Not to do »
An improvement point of the internship program is retention. We need to work on a boomerang program focused on rehiring former interns in 3-4 years for building and sustain diverse pipeline for more senior positions. It is vital to re-engage talented and diverse professionals who left the organizations to make sure we maintain an equal representation across BBH on all levels.