Harvard Case - Mary Guerrero and the Advancement of Latinx Talent: Developing an Employee Resource Group at a Top Tier Bank (A)
"Mary Guerrero and the Advancement of Latinx Talent: Developing an Employee Resource Group at a Top Tier Bank (A)" Harvard business case study is written by Rosabeth Moss Kanter, Amy Hernandez Turcios. It deals with the challenges in the field of General Management. The case study is 16 page(s) long and it was first published on : Aug 7, 2020
At Fern Fort University, we recommend Mary Guerrero move forward with establishing the Latinx Employee Resource Group (ERG) at the bank. This ERG will serve as a platform for promoting diversity and inclusion, fostering professional development, and enhancing the bank's ability to attract and retain top Latinx talent. The ERG will be structured to address the specific needs and challenges faced by Latinx employees, while also contributing to the bank's overall strategic goals.
2. Background
This case study focuses on Mary Guerrero, a senior manager at a top-tier bank, who is tasked with developing an Employee Resource Group (ERG) for Latinx employees. The bank recognizes the importance of diversity and inclusion, and aims to create a more inclusive environment for its employees. However, the bank currently lacks a formal program to support and empower its Latinx employees. Mary faces the challenge of navigating the bank's internal politics, securing resources, and building a strong foundation for the ERG.
The main protagonists in this case are:
- Mary Guerrero: A senior manager at the bank who is passionate about diversity and inclusion and is tasked with establishing the Latinx ERG.
- Senior Management: The bank's leadership team, who are supportive of diversity and inclusion initiatives but may have differing priorities and resource allocation strategies.
- Latinx Employees: The target audience for the ERG, who have diverse experiences and perspectives on the bank's culture and opportunities for advancement.
3. Analysis of the Case Study
This case study can be analyzed through the lens of Organizational Change Management. Mary's initiative to establish the Latinx ERG represents a significant organizational change that requires careful planning and execution.
Key Considerations:
- Organizational Culture: The bank's current culture is not explicitly described, but it is implied that there may be a lack of awareness and sensitivity towards the needs of Latinx employees. The ERG can help foster a more inclusive and welcoming culture by promoting understanding and appreciation of diverse backgrounds.
- Leadership Support: Mary needs to secure strong leadership support from senior management to ensure the ERG's success. This involves clearly articulating the ERG's value proposition and aligning it with the bank's strategic goals.
- Employee Engagement: Building a successful ERG requires active participation from Latinx employees. Mary needs to develop a strategy to attract and engage members, fostering a sense of ownership and purpose.
- Resource Allocation: The ERG will require resources, including funding, time, and space. Mary needs to develop a budget proposal and secure the necessary resources from the bank.
- Metrics and Evaluation: To demonstrate the ERG's impact, Mary needs to establish clear metrics and evaluation criteria. This will help track progress, identify areas for improvement, and justify future resource allocation.
Frameworks:
- Lewin's Change Management Model: This model provides a framework for understanding the stages of change: unfreezing, changing, and refreezing. Mary can use this model to guide her approach to establishing the ERG, ensuring a smooth transition and sustained impact.
- Kotter's 8-Step Change Model: This model emphasizes the importance of communication, leadership, and participation in driving successful change. Mary can use this model to engage stakeholders, build consensus, and create a shared vision for the ERG.
4. Recommendations
Phase 1: Foundation Building (First 6 Months)
- Form a Steering Committee: Mary should assemble a diverse steering committee composed of senior management and passionate Latinx employees. This committee will provide guidance, support, and resources for the ERG.
- Develop a Charter and Mission Statement: The steering committee should define the ERG's purpose, goals, and values. This charter will serve as a guiding document for the ERG's activities and decision-making.
- Conduct a Needs Assessment: Mary should conduct a survey or focus group to understand the specific needs and challenges faced by Latinx employees. This information will inform the ERG's programming and activities.
- Establish a Communication Plan: Mary should develop a communication plan to promote the ERG and build awareness among Latinx employees. This plan should utilize various communication channels, including email, intranet, and internal events.
- Develop a Resource Allocation Plan: Mary should work with senior management to secure the necessary resources for the ERG, including funding, time, and space. This plan should be realistic and sustainable.
- Pilot Programs: Mary should launch a few pilot programs to test the ERG's concept and gather feedback. These programs should be focused on addressing key needs identified during the needs assessment.
Phase 2: Growth and Expansion (Year 1-2)
- Expand Membership: Mary should actively recruit new members to the ERG, ensuring representation from across different departments and levels within the bank.
- Develop a Program Calendar: The ERG should develop a calendar of activities and events, focusing on professional development, networking, mentorship, and community engagement.
- Establish Partnerships: Mary should explore partnerships with external organizations and community groups to expand the ERG's reach and impact.
- Implement Metrics and Evaluation: Mary should track the ERG's progress and impact using key performance indicators (KPIs), such as membership growth, program participation, and employee satisfaction surveys.
- Advocate for Change: The ERG should use its platform to advocate for policies and practices that promote diversity and inclusion within the bank.
Phase 3: Sustainability and Impact (Year 2+)
- Formalize the ERG: Mary should work with senior management to formalize the ERG within the bank's organizational structure, ensuring its long-term sustainability.
- Develop a Succession Plan: The ERG should establish a succession plan to ensure continuity and leadership development.
- Expand the ERG's Scope: The ERG can consider expanding its scope to address broader issues related to diversity and inclusion, such as unconscious bias training and mentorship programs for underrepresented groups.
- Measure and Communicate Impact: Mary should continue to track the ERG's impact and communicate its achievements to senior management and stakeholders.
- Seek Continuous Improvement: The ERG should regularly evaluate its programs and processes, seeking feedback from members and stakeholders to identify areas for improvement.
5. Basis of Recommendations
These recommendations are based on the following principles:
- Employee-Centric Approach: The recommendations prioritize the needs and perspectives of Latinx employees, ensuring that the ERG is relevant and impactful.
- Strategic Alignment: The recommendations are aligned with the bank's strategic goals of promoting diversity and inclusion, contributing to the bank's overall success.
- Sustainable Model: The recommendations aim to establish a sustainable ERG with a strong foundation, clear governance, and a commitment to long-term impact.
- Data-Driven Decision Making: The recommendations emphasize the importance of data and metrics to track progress, measure impact, and inform future decisions.
6. Conclusion
Establishing a Latinx Employee Resource Group at the bank is a strategic move that can significantly enhance the bank's diversity and inclusion efforts. By providing a platform for professional development, networking, and advocacy, the ERG can empower Latinx employees, attract and retain top talent, and contribute to the bank's overall success.
7. Discussion
Alternatives:
- Not establishing an ERG: This option would limit the bank's ability to effectively address the needs of Latinx employees and could hinder its efforts to attract and retain top talent.
- Establishing a less structured ERG: This option could lead to a lack of focus, resources, and impact.
Risks:
- Lack of leadership support: If senior management does not fully support the ERG, it may struggle to secure resources and gain traction.
- Low employee participation: If Latinx employees are not engaged in the ERG, it may not be able to achieve its goals.
- Limited resources: The ERG may face challenges in securing adequate funding and resources to support its activities.
Key Assumptions:
- The bank is genuinely committed to diversity and inclusion.
- Latinx employees are interested in participating in an ERG.
- The bank is willing to invest resources in the ERG's success.
8. Next Steps
Mary should immediately begin implementing the recommendations outlined in this solution. A timeline for key milestones is provided below:
- Month 1-3: Form the steering committee, develop the ERG charter, and conduct the needs assessment.
- Month 3-6: Establish communication channels, pilot programs, and secure initial resources.
- Month 6-12: Expand membership, develop the program calendar, and establish partnerships.
- Year 1-2: Formalize the ERG, implement metrics and evaluation, and advocate for change.
- Year 2+: Develop a succession plan, expand the ERG's scope, and measure and communicate impact.
By following these steps, Mary can successfully establish a Latinx Employee Resource Group that will empower employees, foster inclusion, and contribute to the bank's overall success.
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Case Description
Mary Guerrero was a first-generation Latina and an investment banking analyst at a top tier bank on Wall Street-Bulge Bracket Bank (BBB). She was committed to increasing representation of Latinx talent at her firm. She was already doing a lot of individual work to make this happen (e.g. reviewing candidate resumes at 2am after she had finished her assigned work). She wanted to scale her efforts and debated whether she should build a broader coalition to move the needle on Latinx talent representation despite having a demanding full-time workload.
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