BOARD APPROVES AGENCY'S
FIRST DIVERSITY STRATEGIC PLAN
FOR IMMEDIATE RELEASE PR-33-99 (5-28-99)
Media Contact: Steve Katsanos (202) 898-8669
The Board of Directors of the FDIC has approved the agency’s
first Diversity Strategic Plan.
"Our plan is comprehensive, fair and inclusive," said
FDIC Chairman Donna Tanoue. "We want to set a national example
by showing how we make the strengths of a diverse population and
a diverse workforce work for the FDIC."
"Diversity is a business imperative for the Corporation.
Trends and events in the financial services industry and in society
at large affect the FDIC. The composition of the employee pool
is dramatically changing as a result of the increasing diversity
of our society. We are making those changes work for us when we
honor the different perspectives of our employees and value the
growing diversity of our Corporation."
Noting that the FDIC workforce will be changing as more of its
senior employees retire, Tanoue pointed out that respecting diversity
will enable the Corporation to do the best possible job during
its evolution as an organization. "One out of every six employees
in the FDIC is eligible to retire in the next five years,"
she said. "As a result, we will need to conserve and replenish
our institutional knowledge and expertise. We must retain and
recruit the most qualified and most motivated employees that we
can. Our new Strategic Plan on Diversity will allow the FDIC to
benefit from the changes in the workforce by providing both the
additional means we must have to retain our current highly-trained
employees and the additional incentives we must offer to recruit
the best candidates in the marketplace."
To that end, the Diversity Strategic Plan focuses on six areas:
Building commitment and developing awareness,
Enhancing corporate recruiting,
Creating developmental opportunities,
Enhancing the internal and external selection process,
Addressing benefits and workplace issues, and
Monitoring progress and establishing accountability.
"Building commitment and developing awareness have been
the goals that the Diversity Steering Committee and all of the
working groups have focused on throughout the Corporation this
past year," Tanoue said. "Enhancing corporate recruiting,
creating developmental opportunities and the reinventing our internal
and external selection processes are all vital to get and keep
the people we will need for the FDIC to continue its success as
an organization. Addressing benefits and other workplace issues
is crucial to sustaining our status as an employer of choice,"
she added. "Finally, at the very foundation of our diversity
initiative, is accountability. Monitoring progress and establishing
accountability for meeting program goals is absolutely necessary
if the diversity program is to sustain itself and become an enduring
part of our corporate culture."
"The FDIC’s Diversity Plan will continue to be a living
part of our organization. We will adopt an Upward Feedback Assessment
that will establish crucial baselines to measure the Corporation’s
diversity implementation progress over time. Not only will we
monitor our own progress, we will hire an outside contractor to
conduct independent exit interviews to identify diversity issues
and concerns that may be contributing to attrition. We will find
out what’s working and what’s not, so that we can pursue what
works and fix what doesn’t."
The Chairman reminded FDIC employees of their integral role in
its success. "Every Corporation employee is ultimately responsible
for the success of the diversity plan," she said. "Respect
and cooperation are FDIC corporate values. Every employee’s contribution
is necessary to achieve an atmosphere of respect and cooperation.
The FDIC Diversity Strategic Plan reinforces our corporate values
and supports employees in achieving this goal."
The FDIC’s first comprehensive diversity strategic plan was developed
by Corporation employees across the country and reviewed and approved
by senior management before being presented to the Board of Directors.
# # #
Congress created the Federal Deposit
Insurance Corporation in 1933 to restore public confidence in
the nation's banking system. The FDIC insures deposits at the
nation's 10,461 banks and savings associations and it promotes
the safety and soundness of these institutions by identifying,
monitoring and addressing risks to which they are exposed.
FDIC press releases and other information, including
today's quarterly listing, are available on the Internet at www.fdic.gov
or through the FDIC's Public Information Center (800-276-6003
or (703) 562-2200).