What is Prudential's approach to diversity?
At Prudential, Diversity & Inclusion are integral to the strength of our talent, our culture, our business performance and our company identity. Diversity focuses on acknowledging and celebrating the attributes that make us unique, such as gender, race, ethnicity and sexual orientation. Inclusion means creating a culture of support and collaboration for individuals of all backgrounds, where every employee feels that they have the opportunity to bring their authentic selves to the workplace, and where every customer sees a small part of themselves in all company communications.
At Prudential, over half of our employees reside outside the U.S. and our growth strategies have an increased focus on global market opportunities. In addition, the face of U.S. consumers is changing as over one-third of U.S. consumers are people of color and this number is projected to increase to over half by 2050. We constantly re-evaluate our strategy to ensure we're in a position to address the behavioral, cultural, and support differences that such a diverse consumer population requires. With Diversity & Inclusion as a true business imperative, this approach is consistent with how we frame our approach to all issues facing our business.
What sets your recruiting, career development, and work-life programs apart?
Prudential fosters a culture that allows every employee to be authentic at work because happy and engaged employees are critical to the success of any business. The company also provides comprehensive work-life programs and career development opportunities, making Prudential an employer of choice.
Prudential takes a thoughtful and strategic approach to recruit the very best and most diverse talent. To that end, senior leaders across the organization take an active role in the recruitment process by serving as talent ambassadors for internal and external candidates. Additionally, hiring managers and corporate staffing work closely with the Office of Diversity & Inclusion to ensure that every position, specifically those at the Director level and above, include diverse slates of candidates. Our business units have recruiters who are dedicated to diversity sourcing and cultivate strong partnerships with external organizations that help us source top diverse talent.
Simply hiring talent is not enough, so once employees are on board, the company strives to provide an environment where they can achieve their full potential. One way many employees achieve this is by getting involved with Business Resource Groups, which are employee led organizations that bring together people with shared interests to provide opportunities for professional development, including exposure to our most senior leaders, and mentoring and sponsorship opportunities across all lines of business.
Individual career planning is a top priority at Prudential, where managers work with employees to identify career goals and facilitating opportunities to pursue them. As an example, Prudential offers several rotational programs that provide employees the opportunity to experience international assignments and explore career paths in new lines of business. These programs are available to employees at all levels of the organization.
At Prudential, it’s paramount that employees have the ability to balance the demands of work with responsibilities of life beyond the workplace. To that end, the company has developed programs to make juggling both easier. Flexibility is an integral part of our culture and employees take advantage of such flexible work arrangements such as flextime, part-time, telecommuting, hoteling, compressed workweeks, job-sharing. Our work-life offerings include comprehensive birth, adoption and foster care benefits, as well as on-site lactation rooms and a number of child care, elder care and parenting resources.
Prudential also gives employees a way to give back to their communities through Global Volunteer Day, an annual event in which thousands of employees take opportunity to help build, maintain, and beautify the communities in which they and their families live and work through company sponsored volunteerism. Global Volunteer Day exemplifies Prudential's commitment to helping employees achieve a healthy work/life balance, by providing employees an opportunity to volunteer in their communities and spend time with their families. Beyond that one day event, employees can serve their communities through many of the strong relationships Prudential enjoys with philanthropic organizations around the globe.
Prudential's work-life programs have been recognized as best-in-class by publications such as Working Mother Media and Forbes and in 2014, Prudential was awarded the Work-Life Seal of Distinction by the WorldatWork’s Alliance for Work-Life Progress, a unique mark of excellence designed to identify organizational success in work-life effectiveness.
How long has Prudential been a corporate partner of CUP’s and why does your organization value this relationship?
Prudential has been aligned with CUP since our introduction in early 2013. Since that time, an important strategic relationship has been established focused on talent management and development. Prudential and CUP share many similar core values. Prudential's cultural philosophy of leadership, development and empowerment are uniquely aligned with CUP's mission and vision.
How do you think CUP will have the greatest impact?
CUP's diverse network of experienced leaders and talented professionals across the financial services industry offers Prudential the opportunity to foster significant relationships with the CUP community and to solidify important partnerships amongst our peers in asset management broadly.