The philosophy of working as One BlackRock is at the core of our commitment to inclusion and diversity. We’ve made building a more diverse workforce a top priority and foster a collaborative culture based on trust, respect and integrity. We know that diversity strengthens us and an inclusive culture is essential to deliver superior results for our clients.
Every single employee plays a critical role. Diversity causes us to stop and reflect more deeply on our assumptions and to consider the unique perspectives and insights that each of us brings. We learn from one another and encourage each other to develop, grow and make an impact. We are one team aligned around a shared sense of purpose and strive to make every employee feel like they belong here at BlackRock.
Most of all, we believe that we should treat others as they would like to be treated. We can’t assume that others want the same things we do or see the world in the same way – we have to ask them and listen. Only then can we lean into and learn from the many voices at the table.
Without inclusion, diversity means nothing, so our focus is on creating an inclusive environment for all employees, covering the whole spectrum of diversity.
Our employee networks
Our networks provide an opportunity for employees across the company with a diverse range of backgrounds, experiences and perspectives to connect with one another and help shape our culture. Networks are sponsored by senior leaders across the firm, and are proudly designed by employees, for employees.
We continue to add additional employee networks to support the expectations and demands of our growing population. Through our annual Employee Opinion Survey, we identified that 2.6% of our global population self-identifies as having a disability. In 2017, we launched the Ability Network, to support those affected by disability, whether directly or indirectly. In 2018, we launched Mosaic, a network supported by our regional leaders that works across many populations and groups within the firm to focus on shared interests.
Leveraging the reach of our employee networks and the resources of our Social Impact team, employees can directly support external organizations through grants and volunteering. For example, championed by our employees in the OUT Network, our New York City office supports local organizations that provide assistance and education to individuals living with HIV/AIDS.
We sponsor several initiatives designed to attract, connect and inspire diverse employees. You can learn more about our programs focused on developing, mentoring and educating our diverse talent in the learning and development section.
BlackRock Founders Scholarship – US
In the US, the BlackRock Founders Scholarship is an accelerated Summer Analyst internship interview process and scholarship program for diverse students who have demonstrated leadership while exemplifying the BlackRock Principles in their communities. In addition to a summer internship, candidates may also receive a merit award of $17,500. This program is designed for undergraduate or master’s students who self-identify as Black or African American, Hispanic or Latino, Native American, LGBTQ+ or disabled.
BlackRock Founders Scholarship – UK
In the UK, the BlackRock Founders Scholarship is aimed at penultimate year undergraduate or master’s students who have academically outperformed and have completed their secondary school studies in the UK. In addition to a summer internship, candidates may also receive a merit award of £5,000. This program is designed for candidates who also identify with one of the following statements:
- You grew up in a household where no parent or guardian had attended university
- You were eligible for free school meals at any point between 11 and 16 years old
- You regularly undertook paid work between 16 and 18 years old
- You are, or have been, a parent or registered carer during your school or university studies
- You came to the UK as a refugee or asylum seeker
Find Your Future Forum
Find Your Future Forum is a one day program for diverse sophomores to learn more about BlackRock and our recruitment process. We offer two Find Your Future Forum events: one focused on technology opportunities and one which gives an overview of all our business areas. This opportunity is designed for undergraduate sophomores who self-identify as female, Black or African-American, Latino or Hispanic, Native-American, LGBTQ+ or disabled. These programs take place in New York City, San Francisco and Atlanta.
Key diversity partners
Our active approach
We are committed to cultivating and advancing diversity in all forms because we believe a wide range of perspectives and talent is crucial to creating a richer experience for our employees and a better outcomes for our diversified global client base.
Senior business leaders make it a priority to ensure that all employees in their groups understand why diversity is important for success and equip them with tools and knowledge to foster inclusion. We’ve also made inclusive leadership and management a core leadership competency.
Since 2015, more than 2,500 managers and leaders globally have participated in Driving Better Decisions. This initiative helps leaders and managers understand how unconscious bias works and, most importantly, provides concrete tools and guidance on how to take action to mitigate bias in key people and business decisions. As part of this program, we’ve redesigned key human resources processes to minimize the potential for bias and foster diversity. BlackRock’s efforts to use diversity as a driver of success were profiled in a 2015 Harvard Business School case study.
We hold our businesses accountable for progress in inclusion and diversity. During our Quarterly Business Reviews, we have focused conversations with each business about their plans and progress. We also report our progress against our inclusion and diversity initiatives regularly to our Board of Directors.
As a signatory of HM Treasury’s Women in Finance Charter, which seeks to build a more balanced and diverse financial services industry, BlackRock is committed to achieving 30% female representation in senior management by 2020.
Clients and business partners
Our annual Global Investor Pulse surveys nearly 30,000 investors globally, with an equal gender split across all regions. Results provide actionable insights on how investors are investing and how to best educate and support them so they can build strong financial futures.
We have a dedicated “Emerging Broker” program aimed at increasing connectivity and engagement with minority, women and disabled-veteran owned firms while helping them grow their businesses. The program looks to 1) Identify new brokers and strengthen current relationships by aligning Emerging Brokers’ core competencies with our trading businesses; and 2) Continue to identify ways in which Emerging Brokers can engage in competitive business and introduce new means for them to become more competitive in the broader marketplace.
Beyond our walls
We are focused on supporting inclusion and diversity both inside and outside the firm. We have strategic partnerships with several organizations to help us attract and develop top talent from diverse backgrounds, and to support inclusion and diversity beyond our own workplace.
Some examples of our involvement include:
- Larry Fink, our CEO, is a founding member of the 30% Club in the US, a group that aims to achieve gender balance on boards and throughout organizations. Michelle Edkins, Global Head of Investment Stewardship for BlackRock, serves on the U.S. Steering Committee and Chairs the 30% Club Investor Relations Group. BlackRock also plays an active role in 30% Club groups in Australia, the UK and Hong Kong.
- We are a member of the Bias Interrupters Working Group at the UC Hastings College of Law. The working group brings leading researchers together with a select group of corporate partners to develop innovative models for addressing workplace bias by integrating bias-correcting mechanisms into basic business systems.
- We supported the Gay and Lesbian Advocates and Defenders’ Defense of Marriage Act amicus brief, and were honored by Open Finance for the leadership that BlackRock demonstrated in signing the amicus brief.
Our commitment in action
Representation as of January 1, 2019.
Senior leaders include Senior Managing Directors, Managing Directors, and Directors.
Senior leaders include the Executive and Non-Executive Management categories that are included in BlackRock’s SASB disclosure. For a more detailed breakdown, please see BlackRock’s SASB disclosure here.
In the UK, we disclose what the government calls a “gender pay gap.” All organizations with 250 or more employees in the region must report their gender pay data. In our report, we outline the steps we are taking to increase the number of women in our senior-most ranks, and across the firm in general. View our reports here.