This report incorporates feedback from the industry to our 2021 publication and takes the conversation on a cognitively diverse pensions sector to the next level. We focus on:

• Retaining diverse individuals

• Effectively harness the benefits of cognitively diverse workers

• Providing an inclusive and equitable work environment where everyone – regardless of their experience or background – can thrive

Our guidance is aimed primarily at employers, but we think that individuals working in the pensions industry will also find this report of use in offering information on activities they can either undertake themselves, or encourage their employers to provide – if they aren’t already.

We recognise that we cannot become complacent once we have people through the door. Ensuring people feel valued and motivated, whilst giving them a sense of belonging is critical. It’s important from a worker wellbeing perspective: individuals dedicate significant time and energy to their roles, and research has repeatedly shown that higher levels of engagement go together with higher performance and productivity.

We want this report to act as the start of some conversations, not the end of them! Please let us know if this sparks any changes to your retention journey by getting in touch with us at info@nextgenpensions.co.uk.

This report is not a panacea because it’s simply not possible – there is no one size fits all recruitment process. Our suggestions are based on examples where our research has shown they’ve worked for some.

There are some universal considerations when planning recruitment:

• You cannot eliminate unconscious bias so it must be actively managed throughout the process

• Everyone involved in the recruitment process needs to be committed to managing bias

• Language matters

Any changes you implement should be monitored and measured against your current baseline to see the impact they have. In addition, don’t be afraid to ask applicants for feedback on the process as feedback helps support better processes and ultimately better outcomes.

We hope that this is the beginning of a conversation across the pensions industry about how we can recruit better. We would love to hear from you with any thoughts or other things you have tried in your recruitment process.

Wanting to create an organisation which is more inclusive and celebrates diversity in all its forms? Use our resources for free!

Research & Insights | November 2022

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Research & Insights | May 2021

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