EMEA and Group at LSEG (London Stock Exchange Group)

Katherine Gansallo

Katherine Gansallo is the Director of Diversity and Inclusion at the London Stock Exchange Group, where she oversees a global strategy impacting 25,000 employees across 65 countries. She embeds inclusive practices into LSEG’s systems and leadership, driving long-term behavioural and systemic change. With a background in Talent, Recruiting and Leadership Development, Katherine also supports the Executive Committee and DEI advisory board. She holds degrees from Loughborough University and the University of Warwick and is a Chartered CIPD member, passionate about mentoring diverse millennials and young professionals.

Through this article, Katherine Gansallo reflects on the rise and challenges of Diversity, Equity and Inclusion (DEI) initiatives within organisations, particularly following global social movements and the COVID-19 pandemic. She emphasises the enduring value of DEI, not just as a moral imperative but as a driver of business success, citing studies that link diversity to profitability and innovation. Katherine argues that DEI is crucial for reaching diverse markets and exceptionally multicultural millennials and underscores the need for sustained commitment from leadership to fully realise DEI’s potential in creating long-term opportunities for all.

The world of diversity, equity and inclusion (DEI) experienced a sharp rise and devastating fall over five years. When the racial and gender tragedies collided with the global-shifting COVID-19 pandemic, everything changed. There was an increase in awareness of injustice and inequality from the litany of articles and studies detailing gender disparity and first-hand accounts of sexual assault; hashtags were created, protests sparked and there was a social awakening.

The opportunity was knocking.

DEI consultants sprang into action and HR professionals reorganised and reprioritised their strategies and practices—we were collectively getting to work. For almost two years, DEI was at the top of every agenda.

The opportunity was waiting.

However, the public and corporate consciousness changed shortly after and attention went elsewhere. Many  of those same DEI professionals were fired, HR departments returned to their original courses and the general public fell disheartened. The doors everyone worked so hard to open seemed slowly closing again. But all hope should not be lost.

DEI is still the golden key to opportunity; it must be used correctly.

HManagers are always the last to sign on to new initiatives and the first to jump ship. This response isn’t driven necessarily by disinterest in the topics, but leadership has a meta-view of the business; not always on the ground with the team and from the higher corporate elevations, everything becomes a number: metrics, stats, ROI, loss, margins, rates.

One missing point is how DEI significantly and positively impacts the business’s bottom line. This missed opportunity was an attempt to avoid reducing the humanity of DEI concepts to financial ends. That would be offensively impersonal. Well-intended as that was, even that heartfelt consideration needed to be more realistic. Diversity, equity and inclusion is not a zero-sum game. It’s a game where everyone can win when played right. People can be respected, represented and included and businesses can grow, develop, scale and experience sky-rocketing success.

Based on the McKinsey study “ Why Diversity Matters, “ here are a few incredible business benefits of inclusion within an organisation.

● Gender-diverse executives were 15% more likely to generate above-average profitability.

● A racially and ethnically diverse staff has a 35% performance advantage over those who don’t.

● Diverse companies attain 19% higher revenue.

This doesn’t include the benefit of having varied viewpoints to contribute to processes, products and services. The ubiquitous adage “think outside the box” best suits a diverse staff. By definition, a homogenous staff is a box created unto itself, leaving those within it unaware, with invaluable perspective and money being almost literally left on the table.

Additionally, DEI introduces the rest of the world to those who never thought to venture outside their limited purview. The world and markets are diverse; therefore, corporations should have an equally diverse staff to target diverse markets appropriately. The predominant rising untapped market is also part of the fastest-growing population—multicultural millennials. This community includes diverse communities and those compassionate to diverse communities and social issues.

Multicultural millennials comprise the largest growing population in the United States, projected to go from 75 to 81 million by 2036. This population is more engaged on social media, in tune with social issues and prioritises working for and spending money with socially responsible companies with values that match theirs. Nielsen reported that this growing market spends more than $65 billion annually and influences upward of $1 trillion in total consumer spending.

Although it may appear that with all the corporate restructuring and changes occurring with business and the greater society, the valiant DEI fight will fade into the sunset, there is still hope. As a Black woman and mother of two who’s had doors closed in her face due to her race, her gender, her being a mother in the corporate world and her dyslexia diagnosis, I know far too well the despair and hopelessness that accompanies the definite BOOM of a slammed door. But I also know the infinite possibility of what lies on the other side of opportunity’s door if we take our time and open it.