Entry Details

About the Entry

Category: 
All Content > Diversity, Equity and Inclusion > Northeast

Title of entry: 
Beyond the metrics: The new age of DEI in auto finance

Issue or Publication date:
1/31/2023

Publication name: 
Auto Finance News

Publishing/parent company: 
Royal Media

View Website home page:
https://www.autofinancenews.net/magazine-content/features/beyond-the-metrics-the-new-age-of-dei-in-auto-finance/

Description of the enterprising work that went into this entry and its significance or impact on readers:

Auto Finance News, published by Royal Media, is the flagship publication for the auto finance industry. Published since 1996, we are the nation’s leading source for news, insights and analysis on automotive lending and leasing.

For "Beyond the metrics: The new age of DEI in auto finance," Auto Finance News Deputy Editor Amanda Harris and Sr. Associate Editor Riley Wolfbauer looked closely at how six leading auto financiers are addressing DEI within their organizations.

Exclusive interviews with chief diversity and human resource officers at major lenders such as Chase Auto, Ford Motor Credit, GM Financial and others for this story yielded intelligence on the industry's newest DEI strategies -- information relevant to financiers across the U.S. lending landscape and, importantly, to consumers.

While data, goals and targets remain vital to track DEI, there is an industry shift taking place toward inclusion, allyship and psychological safety. Going beyond meeting quotas to foster a sense of transparency and inclusivity through mentoring circles, executive listening sessions, the encouragement of individual accountability and executive level buy-in is yielding results, according to lenders.

Realizing they must practice what they preach, leadership teams are becoming ever more diverse. For example, Ford Credit’s executive committee is "now made up of over half female leaders and a majority are considered a part of minority classes," according to this AFN story. “By improving diversity, we’re also improving our customer experience,” the lender told AFN editors.

Enriched with data, this article by the AFN news team tells a story that has not been told elsewhere in the industry, and should be seen by more eyes.

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https://www.autofinancenews.net/magazine-content/features/beyond-the-metrics-the-new-age-of-dei-in-auto-finance/