Clearing the path
Empowering Women's financial success
Our aspirations
Jump to Our Diversity, Equity & Inclusion strategy sectionWe are committed to achieving our aspirational goals, along with empowering leaders to drive our DE&I strategy forward. We believe that transparency is key to achieving our aspirations and in 2020, outlined specific intentions to enhance our female and ethnic minority representation, especially among management. Specifically, by 2025, we aspire to have 30% of director-level and above roles globally held by women and 26% of director-level and above roles in the US and 26% in the UK held by ethnic-minority talent, as well as 4% Black in the UK, along with additional regional aspirations. Our DE&I aspirations remain unchanged for the combined organization and the Credit Suisse DE&I aspirations have been retired.
Find out moreHow we execute our strategy
Jump to Our Diversity, Equity & Inclusion strategy sectionAt UBS, we’re building a culture of belonging, where employees from all backgrounds and identities can feel recognized and valued, and where everyone can unlock their full potential. To succeed, we need to enable UBS to deliver the greatest possible impact for our stakeholders – both external (our clients, our communities and society, and our suppliers) and internal (our employees).
Our employee diversity, equity and inclusion (DE&I) strategy is built on four pillars: 1. How we hold ourselves accountable,2. How we hire, 3. How we develop talent, and 4. How we build a culture of belonging.
We leverage all four pillars as we move toward achieving our gender and ethnic diversity aspirations, disability integration and in creating an inclusive culture for all.
Learn more about our DE&I strategy
The commercial imperative of DE&I
Diversity in your business means more representation and more growth. We consider why diverse workforces and inclusive corporations matter for entrepreneurs and executives.
The world is experiencing a period of profound economic and social change. The so-called ‘Fourth Industrial Revolution’ represents a period of structural change driven by technologies such as automation and robotics, artificial intelligence, and a proliferation of big data. The outcomes of this revolution-commercial, economic, environmental, and social-hinge on how people use these technologies.
As the world becomes more complex, the value of problem-solving skills and creativity will rise. More diverse workforces correlate with higher levels of innovation in knowledge-based industries. And how companies deploy people will drive success. Inclusivity will matter more for countries and companies seeking to maximize productivity.
Business case
Making the commercial case, in terms of financial benefits and costs, can complement the moral, political, and philosophical cases for diversity and inclusion.
The impacts of diversity -or a lack of it-can be measured and debated using both data and human stories. The economic and quantitative evidence may, however, help to accelerate positive economic and social change.
Evidence is particularly important in those countries and companies that are least prepared for the Fourth Industrial Revolution. Data can help drive diversity and inclusion in countries whose cultural customs have slowed or hampered greater equality of opportunity to date.
We look at three channels for diversity and inclusion to impact financial outcomes:
- labor markets
- innovation
- market acces
Labor markets
As in all prior industrial revolutions, new technologies have the potential to replace jobs. Economists estimate that between 10% and 15% of jobs may be lost to automation over the next 20 years.
However, net jobs figures will likely show that the Fourth Industrial Revolution is positive for employment. Historically, industrial revolutions have created new industries and previously unimagined roles.
In a world where machines and humans increasingly work together, the benefit of having the right workers in the right places at the right time will likely increase.
Having strategies to attract diverse workers to fill talent gaps-regardless of background-will become more important. The costs of prejudice in the labor market may rise. While the costs will likely differ for each firm, it is possible to provide some quantitative examples. Between 1994 and 2010, the US military fired 14,000 LGBTQ+ staff if they revealed their gender or sexual orientation. Companies that encourage gender diversity and inclusion have been shown to benefit commercially compared to peers.
Innovation
In a world of rapid change, the benefit of having the right ideas for the right markets at the right time will likely increase. Crucially for business owners, entrepreneurs, and executives, the costs of not being innovative in a period of profound societal change will also likely rise.
New technologies can generate commercial benefits. But it is the applications and use of those technologies that historically have generated the biggest gains to people, planet, and profits.
Research concludes that diversity-whether of thinking, gender, demography, or other attributes-can enhance innovation. One study from Deloitte Insights found diversity can boost innovation by 20% and reduce risks (which may be overlooked in “groupthink” or monocultures) by 30%.
In periods of structural change, new applications of technology can create previously unimagined risks. Diverse teams may bring a richer perspective that can identify such risks and manage them effectively. Less diverse teams may rely on their status quo thinking or be slower to change.
Diversity benefits businesses because it can bring together people to solve complex problems. These problems require different skills or approaches: analyzing evidence, weighing options, predicting and planning for outcomes, accounting for the impact on people; building of processes; and risk management. It is unlikely any person excels in each of these six fields. Collective intelligence of different abilities and a variety of social connections is therefore important.
Market access
New communication technologies have increased the benefits of diversity and inclusion as a tool to access new markets.
It is becoming more important to have the right people to appeal to diverse, values-driven customers looking for personalized goods and services.
In a world where technology allows for greater personalization of goods and services, a diverse and inclusive workforce is more likely to understand consumer problems and design personalized solutions that match the customer’s particular needs.
This is not to say, for example, that a skin care company can only design personalized skin care products if it has at least one employee in the gender, ethnicity, or race for which it wants to cater. This does not mean that designers of later-living retirement homes or lifelong learning apps need to be older people to understand particular needs.
But it does mean that companies may find it more efficient to employ a diverse workforce and build an inclusive environment to counteract the effects of standardization that seeks to satisfy the non-existent "average" consumer.
Challenges
The commercial benefits of being a diverse and inclusive business are not just theoretical. A large and growing body of literature presents the evidence for more diverse businesses being more profitable.
This does not mean small and mid-sized private enterprises find building a diverse and inclusive business easy.
Becoming more diverse and inclusive can, in practice, lead business owners and entrepreneurs to make well-intentioned mistakes.
Every business is different. Each will have its own successes and points for improvement when fostering a more diverse and inclusive workplace.
Business case
Making the commercial case, in terms of financial benefits and costs, can complement the moral, political, and philosophical cases for diversity and inclusion.
The impacts of diversity -or a lack of it-can be measured and debated using both data and human stories. The economic and quantitative evidence may, however, help to accelerate positive economic and social change.
Evidence is particularly important in those countries and companies that are least prepared for the Fourth Industrial Revolution. Data can help drive diversity and inclusion in countries whose cultural customs have slowed or hampered greater equality of opportunity to date.
We look at three channels for diversity and inclusion to impact financial outcomes:
- labor markets
- innovation
- market acces
Labor markets
As in all prior industrial revolutions, new technologies have the potential to replace jobs. Economists estimate that between 10% and 15% of jobs may be lost to automation over the next 20 years.
However, net jobs figures will likely show that the Fourth Industrial Revolution is positive for employment. Historically, industrial revolutions have created new industries and previously unimagined roles.
In a world where machines and humans increasingly work together, the benefit of having the right workers in the right places at the right time will likely increase.
Having strategies to attract diverse workers to fill talent gaps-regardless of background-will become more important. The costs of prejudice in the labor market may rise. While the costs will likely differ for each firm, it is possible to provide some quantitative examples. Between 1994 and 2010, the US military fired 14,000 LGBTQ+ staff if they revealed their gender or sexual orientation. Companies that encourage gender diversity and inclusion have been shown to benefit commercially compared to peers.
Innovation
In a world of rapid change, the benefit of having the right ideas for the right markets at the right time will likely increase. Crucially for business owners, entrepreneurs, and executives, the costs of not being innovative in a period of profound societal change will also likely rise.
New technologies can generate commercial benefits. But it is the applications and use of those technologies that historically have generated the biggest gains to people, planet, and profits.
Research concludes that diversity-whether of thinking, gender, demography, or other attributes-can enhance innovation. One study from Deloitte Insights found diversity can boost innovation by 20% and reduce risks (which may be overlooked in “groupthink” or monocultures) by 30%.
In periods of structural change, new applications of technology can create previously unimagined risks. Diverse teams may bring a richer perspective that can identify such risks and manage them effectively. Less diverse teams may rely on their status quo thinking or be slower to change.
Diversity benefits businesses because it can bring together people to solve complex problems. These problems require different skills or approaches: analyzing evidence, weighing options, predicting and planning for outcomes, accounting for the impact on people; building of processes; and risk management. It is unlikely any person excels in each of these six fields. Collective intelligence of different abilities and a variety of social connections is therefore important.
Market access
New communication technologies have increased the benefits of diversity and inclusion as a tool to access new markets.
It is becoming more important to have the right people to appeal to diverse, values-driven customers looking for personalized goods and services.
In a world where technology allows for greater personalization of goods and services, a diverse and inclusive workforce is more likely to understand consumer problems and design personalized solutions that match the customer’s particular needs.
This is not to say, for example, that a skin care company can only design personalized skin care products if it has at least one employee in the gender, ethnicity, or race for which it wants to cater. This does not mean that designers of later-living retirement homes or lifelong learning apps need to be older people to understand particular needs.
But it does mean that companies may find it more efficient to employ a diverse workforce and build an inclusive environment to counteract the effects of standardization that seeks to satisfy the non-existent "average" consumer.
Challenges
The commercial benefits of being a diverse and inclusive business are not just theoretical. A large and growing body of literature presents the evidence for more diverse businesses being more profitable.
This does not mean small and mid-sized private enterprises find building a diverse and inclusive business easy.
Becoming more diverse and inclusive can, in practice, lead business owners and entrepreneurs to make well-intentioned mistakes.
Every business is different. Each will have its own successes and points for improvement when fostering a more diverse and inclusive workplace.
Business case
Making the commercial case, in terms of financial benefits and costs, can complement the moral, political, and philosophical cases for diversity and inclusion.
The impacts of diversity -or a lack of it-can be measured and debated using both data and human stories. The economic and quantitative evidence may, however, help to accelerate positive economic and social change.
Evidence is particularly important in those countries and companies that are least prepared for the Fourth Industrial Revolution. Data can help drive diversity and inclusion in countries whose cultural customs have slowed or hampered greater equality of opportunity to date.
We look at three channels for diversity and inclusion to impact financial outcomes:
- labor markets
- innovation
- market acces
Labor markets
As in all prior industrial revolutions, new technologies have the potential to replace jobs. Economists estimate that between 10% and 15% of jobs may be lost to automation over the next 20 years.
However, net jobs figures will likely show that the Fourth Industrial Revolution is positive for employment. Historically, industrial revolutions have created new industries and previously unimagined roles.
In a world where machines and humans increasingly work together, the benefit of having the right workers in the right places at the right time will likely increase.
Having strategies to attract diverse workers to fill talent gaps-regardless of background-will become more important. The costs of prejudice in the labor market may rise. While the costs will likely differ for each firm, it is possible to provide some quantitative examples. Between 1994 and 2010, the US military fired 14,000 LGBTQ+ staff if they revealed their gender or sexual orientation. Companies that encourage gender diversity and inclusion have been shown to benefit commercially compared to peers.
Innovation
In a world of rapid change, the benefit of having the right ideas for the right markets at the right time will likely increase. Crucially for business owners, entrepreneurs, and executives, the costs of not being innovative in a period of profound societal change will also likely rise.
New technologies can generate commercial benefits. But it is the applications and use of those technologies that historically have generated the biggest gains to people, planet, and profits.
Research concludes that diversity-whether of thinking, gender, demography, or other attributes-can enhance innovation. One study from Deloitte Insights found diversity can boost innovation by 20% and reduce risks (which may be overlooked in “groupthink” or monocultures) by 30%.
In periods of structural change, new applications of technology can create previously unimagined risks. Diverse teams may bring a richer perspective that can identify such risks and manage them effectively. Less diverse teams may rely on their status quo thinking or be slower to change.
Diversity benefits businesses because it can bring together people to solve complex problems. These problems require different skills or approaches: analyzing evidence, weighing options, predicting and planning for outcomes, accounting for the impact on people; building of processes; and risk management. It is unlikely any person excels in each of these six fields. Collective intelligence of different abilities and a variety of social connections is therefore important.
Market access
New communication technologies have increased the benefits of diversity and inclusion as a tool to access new markets.
It is becoming more important to have the right people to appeal to diverse, values-driven customers looking for personalized goods and services.
In a world where technology allows for greater personalization of goods and services, a diverse and inclusive workforce is more likely to understand consumer problems and design personalized solutions that match the customer’s particular needs.
This is not to say, for example, that a skin care company can only design personalized skin care products if it has at least one employee in the gender, ethnicity, or race for which it wants to cater. This does not mean that designers of later-living retirement homes or lifelong learning apps need to be older people to understand particular needs.
But it does mean that companies may find it more efficient to employ a diverse workforce and build an inclusive environment to counteract the effects of standardization that seeks to satisfy the non-existent "average" consumer.
Challenges
The commercial benefits of being a diverse and inclusive business are not just theoretical. A large and growing body of literature presents the evidence for more diverse businesses being more profitable.
This does not mean small and mid-sized private enterprises find building a diverse and inclusive business easy.
Becoming more diverse and inclusive can, in practice, lead business owners and entrepreneurs to make well-intentioned mistakes.
Every business is different. Each will have its own successes and points for improvement when fostering a more diverse and inclusive workplace.
Business case
Making the commercial case, in terms of financial benefits and costs, can complement the moral, political, and philosophical cases for diversity and inclusion.
The impacts of diversity -or a lack of it-can be measured and debated using both data and human stories. The economic and quantitative evidence may, however, help to accelerate positive economic and social change.
Evidence is particularly important in those countries and companies that are least prepared for the Fourth Industrial Revolution. Data can help drive diversity and inclusion in countries whose cultural customs have slowed or hampered greater equality of opportunity to date.
We look at three channels for diversity and inclusion to impact financial outcomes:
- labor markets
- innovation
- market acces
Labor markets
As in all prior industrial revolutions, new technologies have the potential to replace jobs. Economists estimate that between 10% and 15% of jobs may be lost to automation over the next 20 years.
However, net jobs figures will likely show that the Fourth Industrial Revolution is positive for employment. Historically, industrial revolutions have created new industries and previously unimagined roles.
In a world where machines and humans increasingly work together, the benefit of having the right workers in the right places at the right time will likely increase.
Having strategies to attract diverse workers to fill talent gaps-regardless of background-will become more important. The costs of prejudice in the labor market may rise. While the costs will likely differ for each firm, it is possible to provide some quantitative examples. Between 1994 and 2010, the US military fired 14,000 LGBTQ+ staff if they revealed their gender or sexual orientation. Companies that encourage gender diversity and inclusion have been shown to benefit commercially compared to peers.
Innovation
In a world of rapid change, the benefit of having the right ideas for the right markets at the right time will likely increase. Crucially for business owners, entrepreneurs, and executives, the costs of not being innovative in a period of profound societal change will also likely rise.
New technologies can generate commercial benefits. But it is the applications and use of those technologies that historically have generated the biggest gains to people, planet, and profits.
Research concludes that diversity-whether of thinking, gender, demography, or other attributes-can enhance innovation. One study from Deloitte Insights found diversity can boost innovation by 20% and reduce risks (which may be overlooked in “groupthink” or monocultures) by 30%.
In periods of structural change, new applications of technology can create previously unimagined risks. Diverse teams may bring a richer perspective that can identify such risks and manage them effectively. Less diverse teams may rely on their status quo thinking or be slower to change.
Diversity benefits businesses because it can bring together people to solve complex problems. These problems require different skills or approaches: analyzing evidence, weighing options, predicting and planning for outcomes, accounting for the impact on people; building of processes; and risk management. It is unlikely any person excels in each of these six fields. Collective intelligence of different abilities and a variety of social connections is therefore important.
Market access
New communication technologies have increased the benefits of diversity and inclusion as a tool to access new markets.
It is becoming more important to have the right people to appeal to diverse, values-driven customers looking for personalized goods and services.
In a world where technology allows for greater personalization of goods and services, a diverse and inclusive workforce is more likely to understand consumer problems and design personalized solutions that match the customer’s particular needs.
This is not to say, for example, that a skin care company can only design personalized skin care products if it has at least one employee in the gender, ethnicity, or race for which it wants to cater. This does not mean that designers of later-living retirement homes or lifelong learning apps need to be older people to understand particular needs.
But it does mean that companies may find it more efficient to employ a diverse workforce and build an inclusive environment to counteract the effects of standardization that seeks to satisfy the non-existent "average" consumer.
Challenges
The commercial benefits of being a diverse and inclusive business are not just theoretical. A large and growing body of literature presents the evidence for more diverse businesses being more profitable.
This does not mean small and mid-sized private enterprises find building a diverse and inclusive business easy.
Becoming more diverse and inclusive can, in practice, lead business owners and entrepreneurs to make well-intentioned mistakes.
Every business is different. Each will have its own successes and points for improvement when fostering a more diverse and inclusive workplace.
Business case
Making the commercial case, in terms of financial benefits and costs, can complement the moral, political, and philosophical cases for diversity and inclusion.
The impacts of diversity -or a lack of it-can be measured and debated using both data and human stories. The economic and quantitative evidence may, however, help to accelerate positive economic and social change.
Evidence is particularly important in those countries and companies that are least prepared for the Fourth Industrial Revolution. Data can help drive diversity and inclusion in countries whose cultural customs have slowed or hampered greater equality of opportunity to date.
We look at three channels for diversity and inclusion to impact financial outcomes:
- labor markets
- innovation
- market acces
Labor markets
As in all prior industrial revolutions, new technologies have the potential to replace jobs. Economists estimate that between 10% and 15% of jobs may be lost to automation over the next 20 years.
However, net jobs figures will likely show that the Fourth Industrial Revolution is positive for employment. Historically, industrial revolutions have created new industries and previously unimagined roles.
In a world where machines and humans increasingly work together, the benefit of having the right workers in the right places at the right time will likely increase.
Having strategies to attract diverse workers to fill talent gaps-regardless of background-will become more important. The costs of prejudice in the labor market may rise. While the costs will likely differ for each firm, it is possible to provide some quantitative examples. Between 1994 and 2010, the US military fired 14,000 LGBTQ+ staff if they revealed their gender or sexual orientation. Companies that encourage gender diversity and inclusion have been shown to benefit commercially compared to peers.
Innovation
In a world of rapid change, the benefit of having the right ideas for the right markets at the right time will likely increase. Crucially for business owners, entrepreneurs, and executives, the costs of not being innovative in a period of profound societal change will also likely rise.
New technologies can generate commercial benefits. But it is the applications and use of those technologies that historically have generated the biggest gains to people, planet, and profits.
Research concludes that diversity-whether of thinking, gender, demography, or other attributes-can enhance innovation. One study from Deloitte Insights found diversity can boost innovation by 20% and reduce risks (which may be overlooked in “groupthink” or monocultures) by 30%.
In periods of structural change, new applications of technology can create previously unimagined risks. Diverse teams may bring a richer perspective that can identify such risks and manage them effectively. Less diverse teams may rely on their status quo thinking or be slower to change.
Diversity benefits businesses because it can bring together people to solve complex problems. These problems require different skills or approaches: analyzing evidence, weighing options, predicting and planning for outcomes, accounting for the impact on people; building of processes; and risk management. It is unlikely any person excels in each of these six fields. Collective intelligence of different abilities and a variety of social connections is therefore important.
Market access
New communication technologies have increased the benefits of diversity and inclusion as a tool to access new markets.
It is becoming more important to have the right people to appeal to diverse, values-driven customers looking for personalized goods and services.
In a world where technology allows for greater personalization of goods and services, a diverse and inclusive workforce is more likely to understand consumer problems and design personalized solutions that match the customer’s particular needs.
This is not to say, for example, that a skin care company can only design personalized skin care products if it has at least one employee in the gender, ethnicity, or race for which it wants to cater. This does not mean that designers of later-living retirement homes or lifelong learning apps need to be older people to understand particular needs.
But it does mean that companies may find it more efficient to employ a diverse workforce and build an inclusive environment to counteract the effects of standardization that seeks to satisfy the non-existent "average" consumer.
Challenges
The commercial benefits of being a diverse and inclusive business are not just theoretical. A large and growing body of literature presents the evidence for more diverse businesses being more profitable.
This does not mean small and mid-sized private enterprises find building a diverse and inclusive business easy.
Becoming more diverse and inclusive can, in practice, lead business owners and entrepreneurs to make well-intentioned mistakes.
Every business is different. Each will have its own successes and points for improvement when fostering a more diverse and inclusive workplace.
Business case
Making the commercial case, in terms of financial benefits and costs, can complement the moral, political, and philosophical cases for diversity and inclusion.
The impacts of diversity -or a lack of it-can be measured and debated using both data and human stories. The economic and quantitative evidence may, however, help to accelerate positive economic and social change.
Evidence is particularly important in those countries and companies that are least prepared for the Fourth Industrial Revolution. Data can help drive diversity and inclusion in countries whose cultural customs have slowed or hampered greater equality of opportunity to date.
We look at three channels for diversity and inclusion to impact financial outcomes:
- labor markets
- innovation
- market acces
Labor markets
As in all prior industrial revolutions, new technologies have the potential to replace jobs. Economists estimate that between 10% and 15% of jobs may be lost to automation over the next 20 years.
However, net jobs figures will likely show that the Fourth Industrial Revolution is positive for employment. Historically, industrial revolutions have created new industries and previously unimagined roles.
In a world where machines and humans increasingly work together, the benefit of having the right workers in the right places at the right time will likely increase.
Having strategies to attract diverse workers to fill talent gaps-regardless of background-will become more important. The costs of prejudice in the labor market may rise. While the costs will likely differ for each firm, it is possible to provide some quantitative examples. Between 1994 and 2010, the US military fired 14,000 LGBTQ+ staff if they revealed their gender or sexual orientation. Companies that encourage gender diversity and inclusion have been shown to benefit commercially compared to peers.
Innovation
In a world of rapid change, the benefit of having the right ideas for the right markets at the right time will likely increase. Crucially for business owners, entrepreneurs, and executives, the costs of not being innovative in a period of profound societal change will also likely rise.
New technologies can generate commercial benefits. But it is the applications and use of those technologies that historically have generated the biggest gains to people, planet, and profits.
Research concludes that diversity-whether of thinking, gender, demography, or other attributes-can enhance innovation. One study from Deloitte Insights found diversity can boost innovation by 20% and reduce risks (which may be overlooked in “groupthink” or monocultures) by 30%.
In periods of structural change, new applications of technology can create previously unimagined risks. Diverse teams may bring a richer perspective that can identify such risks and manage them effectively. Less diverse teams may rely on their status quo thinking or be slower to change.
Diversity benefits businesses because it can bring together people to solve complex problems. These problems require different skills or approaches: analyzing evidence, weighing options, predicting and planning for outcomes, accounting for the impact on people; building of processes; and risk management. It is unlikely any person excels in each of these six fields. Collective intelligence of different abilities and a variety of social connections is therefore important.
Market access
New communication technologies have increased the benefits of diversity and inclusion as a tool to access new markets.
It is becoming more important to have the right people to appeal to diverse, values-driven customers looking for personalized goods and services.
In a world where technology allows for greater personalization of goods and services, a diverse and inclusive workforce is more likely to understand consumer problems and design personalized solutions that match the customer’s particular needs.
This is not to say, for example, that a skin care company can only design personalized skin care products if it has at least one employee in the gender, ethnicity, or race for which it wants to cater. This does not mean that designers of later-living retirement homes or lifelong learning apps need to be older people to understand particular needs.
But it does mean that companies may find it more efficient to employ a diverse workforce and build an inclusive environment to counteract the effects of standardization that seeks to satisfy the non-existent "average" consumer.
Challenges
The commercial benefits of being a diverse and inclusive business are not just theoretical. A large and growing body of literature presents the evidence for more diverse businesses being more profitable.
This does not mean small and mid-sized private enterprises find building a diverse and inclusive business easy.
Becoming more diverse and inclusive can, in practice, lead business owners and entrepreneurs to make well-intentioned mistakes.
Every business is different. Each will have its own successes and points for improvement when fostering a more diverse and inclusive workplace.
Business case
Making the commercial case, in terms of financial benefits and costs, can complement the moral, political, and philosophical cases for diversity and inclusion.
The impacts of diversity -or a lack of it-can be measured and debated using both data and human stories. The economic and quantitative evidence may, however, help to accelerate positive economic and social change.
Evidence is particularly important in those countries and companies that are least prepared for the Fourth Industrial Revolution. Data can help drive diversity and inclusion in countries whose cultural customs have slowed or hampered greater equality of opportunity to date.
We look at three channels for diversity and inclusion to impact financial outcomes:
- labor markets
- innovation
- market acces
Labor markets
As in all prior industrial revolutions, new technologies have the potential to replace jobs. Economists estimate that between 10% and 15% of jobs may be lost to automation over the next 20 years.
However, net jobs figures will likely show that the Fourth Industrial Revolution is positive for employment. Historically, industrial revolutions have created new industries and previously unimagined roles.
In a world where machines and humans increasingly work together, the benefit of having the right workers in the right places at the right time will likely increase.
Having strategies to attract diverse workers to fill talent gaps-regardless of background-will become more important. The costs of prejudice in the labor market may rise. While the costs will likely differ for each firm, it is possible to provide some quantitative examples. Between 1994 and 2010, the US military fired 14,000 LGBTQ+ staff if they revealed their gender or sexual orientation. Companies that encourage gender diversity and inclusion have been shown to benefit commercially compared to peers.
Innovation
In a world of rapid change, the benefit of having the right ideas for the right markets at the right time will likely increase. Crucially for business owners, entrepreneurs, and executives, the costs of not being innovative in a period of profound societal change will also likely rise.
New technologies can generate commercial benefits. But it is the applications and use of those technologies that historically have generated the biggest gains to people, planet, and profits.
Research concludes that diversity-whether of thinking, gender, demography, or other attributes-can enhance innovation. One study from Deloitte Insights found diversity can boost innovation by 20% and reduce risks (which may be overlooked in “groupthink” or monocultures) by 30%.
In periods of structural change, new applications of technology can create previously unimagined risks. Diverse teams may bring a richer perspective that can identify such risks and manage them effectively. Less diverse teams may rely on their status quo thinking or be slower to change.
Diversity benefits businesses because it can bring together people to solve complex problems. These problems require different skills or approaches: analyzing evidence, weighing options, predicting and planning for outcomes, accounting for the impact on people; building of processes; and risk management. It is unlikely any person excels in each of these six fields. Collective intelligence of different abilities and a variety of social connections is therefore important.
Market access
New communication technologies have increased the benefits of diversity and inclusion as a tool to access new markets.
It is becoming more important to have the right people to appeal to diverse, values-driven customers looking for personalized goods and services.
In a world where technology allows for greater personalization of goods and services, a diverse and inclusive workforce is more likely to understand consumer problems and design personalized solutions that match the customer’s particular needs.
This is not to say, for example, that a skin care company can only design personalized skin care products if it has at least one employee in the gender, ethnicity, or race for which it wants to cater. This does not mean that designers of later-living retirement homes or lifelong learning apps need to be older people to understand particular needs.
But it does mean that companies may find it more efficient to employ a diverse workforce and build an inclusive environment to counteract the effects of standardization that seeks to satisfy the non-existent "average" consumer.
Challenges
The commercial benefits of being a diverse and inclusive business are not just theoretical. A large and growing body of literature presents the evidence for more diverse businesses being more profitable.
This does not mean small and mid-sized private enterprises find building a diverse and inclusive business easy.
Becoming more diverse and inclusive can, in practice, lead business owners and entrepreneurs to make well-intentioned mistakes.
Every business is different. Each will have its own successes and points for improvement when fostering a more diverse and inclusive workplace.
What are the challenges and misconceptions around DE&I?
We discuss three types of diversity and inclusion challenges or misconceptions-and suggest some alternative perspectives and potential solutions.
Learning paths
Would you like to expand your financial knowledge? Our module-based, free learning paths regularly provide you with practical advice on topics you choose.
Three practical tips when designing a DE&I process
TIP 1
Focus on diversity and inclusion awareness and education
Focus on diversity and inclusion awareness and education
Successful companies consist of people that understand the opportunities a diverse and inclusive workforce can bring-and the barriers or prejudices certain groups might face based on their personal characteristics.
Conversations about prejudice or exclusive environments can be difficult for underrepresented groups and privileged groups. It would be important to create the right environment for affinity groups to gather and share their experiences across the firm. But it is also important to encourage privileged groups to be their own tutors.
TIP 2
Rethink your organizational management structure
Rethink your organizational management structure
Diversity and inclusion depend on people, by building varied teams of employees, being open to varied ideas, having a mindset to drive innovation, and responding to the various needs of different stakeholders. But successful diversity and inclusion strategies also depend on processes. Evaluating and amending organizational management could therefore be critical to reaping the commercial benefits of diversity and inclusion.
Unconscious bias is part of the fabric of society and, indeed, of many companies. Business owners, executives, and entrepreneurs may begin by considering their hiring processes. Can more be done to find talented, diverse people for a flexible role, rather than following a traditional, restrictive approach of having a set role?
TIP 3
Create a healthy culture of challenge
Create a healthy culture of challenge
Successfully becoming a more diverse and inclusive company that delivers better commercial results and a greater societal impact is not a one-time effort. Doing so will likely require a culture of continuous challenge.
This challenge can take several forms. It may begin by remembering that prejudice is any form of irrational discrimination.
Business owners need to distinguish between rational and irrational discrimination. It would be irrational not to hire someone with the right skills for the job simply because of their race, sexual orientation, or because they support a rival sporting team to the hiring manager. It may be rational to charge different customers different prices if, for instance, they buy different products or buy in bulk.
There is growing evidence that makes the commercial case for diversity and inclusion. But as the structural changes of the Fourth Industrial Revolution advance, it is likely that the economic and societal case for diversity and inclusion will also rise.
TIP 1
Focus on diversity and inclusion awareness and education
Focus on diversity and inclusion awareness and education
Successful companies consist of people that understand the opportunities a diverse and inclusive workforce can bring-and the barriers or prejudices certain groups might face based on their personal characteristics.
Conversations about prejudice or exclusive environments can be difficult for underrepresented groups and privileged groups. It would be important to create the right environment for affinity groups to gather and share their experiences across the firm. But it is also important to encourage privileged groups to be their own tutors.
TIP 2
Rethink your organizational management structure
Rethink your organizational management structure
Diversity and inclusion depend on people, by building varied teams of employees, being open to varied ideas, having a mindset to drive innovation, and responding to the various needs of different stakeholders. But successful diversity and inclusion strategies also depend on processes. Evaluating and amending organizational management could therefore be critical to reaping the commercial benefits of diversity and inclusion.
Unconscious bias is part of the fabric of society and, indeed, of many companies. Business owners, executives, and entrepreneurs may begin by considering their hiring processes. Can more be done to find talented, diverse people for a flexible role, rather than following a traditional, restrictive approach of having a set role?
TIP 3
Create a healthy culture of challenge
Create a healthy culture of challenge
Successfully becoming a more diverse and inclusive company that delivers better commercial results and a greater societal impact is not a one-time effort. Doing so will likely require a culture of continuous challenge.
This challenge can take several forms. It may begin by remembering that prejudice is any form of irrational discrimination.
Business owners need to distinguish between rational and irrational discrimination. It would be irrational not to hire someone with the right skills for the job simply because of their race, sexual orientation, or because they support a rival sporting team to the hiring manager. It may be rational to charge different customers different prices if, for instance, they buy different products or buy in bulk.
There is growing evidence that makes the commercial case for diversity and inclusion. But as the structural changes of the Fourth Industrial Revolution advance, it is likely that the economic and societal case for diversity and inclusion will also rise.
TIP 1
Focus on diversity and inclusion awareness and education
Focus on diversity and inclusion awareness and education
Successful companies consist of people that understand the opportunities a diverse and inclusive workforce can bring-and the barriers or prejudices certain groups might face based on their personal characteristics.
Conversations about prejudice or exclusive environments can be difficult for underrepresented groups and privileged groups. It would be important to create the right environment for affinity groups to gather and share their experiences across the firm. But it is also important to encourage privileged groups to be their own tutors.
TIP 2
Rethink your organizational management structure
Rethink your organizational management structure
Diversity and inclusion depend on people, by building varied teams of employees, being open to varied ideas, having a mindset to drive innovation, and responding to the various needs of different stakeholders. But successful diversity and inclusion strategies also depend on processes. Evaluating and amending organizational management could therefore be critical to reaping the commercial benefits of diversity and inclusion.
Unconscious bias is part of the fabric of society and, indeed, of many companies. Business owners, executives, and entrepreneurs may begin by considering their hiring processes. Can more be done to find talented, diverse people for a flexible role, rather than following a traditional, restrictive approach of having a set role?
TIP 3
Create a healthy culture of challenge
Create a healthy culture of challenge
Successfully becoming a more diverse and inclusive company that delivers better commercial results and a greater societal impact is not a one-time effort. Doing so will likely require a culture of continuous challenge.
This challenge can take several forms. It may begin by remembering that prejudice is any form of irrational discrimination.
Business owners need to distinguish between rational and irrational discrimination. It would be irrational not to hire someone with the right skills for the job simply because of their race, sexual orientation, or because they support a rival sporting team to the hiring manager. It may be rational to charge different customers different prices if, for instance, they buy different products or buy in bulk.
There is growing evidence that makes the commercial case for diversity and inclusion. But as the structural changes of the Fourth Industrial Revolution advance, it is likely that the economic and societal case for diversity and inclusion will also rise.
TIP 1
Focus on diversity and inclusion awareness and education
Focus on diversity and inclusion awareness and education
Successful companies consist of people that understand the opportunities a diverse and inclusive workforce can bring-and the barriers or prejudices certain groups might face based on their personal characteristics.
Conversations about prejudice or exclusive environments can be difficult for underrepresented groups and privileged groups. It would be important to create the right environment for affinity groups to gather and share their experiences across the firm. But it is also important to encourage privileged groups to be their own tutors.
TIP 2
Rethink your organizational management structure
Rethink your organizational management structure
Diversity and inclusion depend on people, by building varied teams of employees, being open to varied ideas, having a mindset to drive innovation, and responding to the various needs of different stakeholders. But successful diversity and inclusion strategies also depend on processes. Evaluating and amending organizational management could therefore be critical to reaping the commercial benefits of diversity and inclusion.
Unconscious bias is part of the fabric of society and, indeed, of many companies. Business owners, executives, and entrepreneurs may begin by considering their hiring processes. Can more be done to find talented, diverse people for a flexible role, rather than following a traditional, restrictive approach of having a set role?
TIP 3
Create a healthy culture of challenge
Create a healthy culture of challenge
Successfully becoming a more diverse and inclusive company that delivers better commercial results and a greater societal impact is not a one-time effort. Doing so will likely require a culture of continuous challenge.
This challenge can take several forms. It may begin by remembering that prejudice is any form of irrational discrimination.
Business owners need to distinguish between rational and irrational discrimination. It would be irrational not to hire someone with the right skills for the job simply because of their race, sexual orientation, or because they support a rival sporting team to the hiring manager. It may be rational to charge different customers different prices if, for instance, they buy different products or buy in bulk.
There is growing evidence that makes the commercial case for diversity and inclusion. But as the structural changes of the Fourth Industrial Revolution advance, it is likely that the economic and societal case for diversity and inclusion will also rise.
TIP 1
Focus on diversity and inclusion awareness and education
Focus on diversity and inclusion awareness and education
Successful companies consist of people that understand the opportunities a diverse and inclusive workforce can bring-and the barriers or prejudices certain groups might face based on their personal characteristics.
Conversations about prejudice or exclusive environments can be difficult for underrepresented groups and privileged groups. It would be important to create the right environment for affinity groups to gather and share their experiences across the firm. But it is also important to encourage privileged groups to be their own tutors.
TIP 2
Rethink your organizational management structure
Rethink your organizational management structure
Diversity and inclusion depend on people, by building varied teams of employees, being open to varied ideas, having a mindset to drive innovation, and responding to the various needs of different stakeholders. But successful diversity and inclusion strategies also depend on processes. Evaluating and amending organizational management could therefore be critical to reaping the commercial benefits of diversity and inclusion.
Unconscious bias is part of the fabric of society and, indeed, of many companies. Business owners, executives, and entrepreneurs may begin by considering their hiring processes. Can more be done to find talented, diverse people for a flexible role, rather than following a traditional, restrictive approach of having a set role?
TIP 3
Create a healthy culture of challenge
Create a healthy culture of challenge
Successfully becoming a more diverse and inclusive company that delivers better commercial results and a greater societal impact is not a one-time effort. Doing so will likely require a culture of continuous challenge.
This challenge can take several forms. It may begin by remembering that prejudice is any form of irrational discrimination.
Business owners need to distinguish between rational and irrational discrimination. It would be irrational not to hire someone with the right skills for the job simply because of their race, sexual orientation, or because they support a rival sporting team to the hiring manager. It may be rational to charge different customers different prices if, for instance, they buy different products or buy in bulk.
There is growing evidence that makes the commercial case for diversity and inclusion. But as the structural changes of the Fourth Industrial Revolution advance, it is likely that the economic and societal case for diversity and inclusion will also rise.
Wealth is changing hands
See how our unique approach can help you take control of your wealth at every stage of your life.
Closing the gender funding gap
Female entrepreneurs, globally, receive less funding than men
The growth in women’s investable wealth has outpaced men’s between 2016 and 2020 (CAGR of 8.2% versus 5.9%) and is expected to continue to grow more rapidly than men’s over the period until 2025. However, despite this significant financial progress, women continue to encounter unequal treatment across various levels of the business world and society, facing substantial obstacles for example when raising capital.
Female entrepreneurs, globally, receive less funding than their male counterparts. This reality is even more pronounced for women of color and those in developing countries and comes at a great cost to gender parity efforts.
As a result of this funding discrepancy, female entrepreneurs lack equal opportunities to innovate and build successful companies that can contribute to the global economy.
There is an abundance of evidence to suggest that women entrepreneurs, who receive funding, develop businesses that perform as well, or even better, than their male counterparts, which suggests investors are missing out on attractive investment opportunities.
There have been numerous studies as well as a plethora of media coverage on the funding gap that exists between women entrepreneurs and their male counterparts. This greater awareness is helpful, but the stark reality is women entrepreneurs, particularly those of color and those living in developing countries, do not have equal access to funding.
- All-Female-founded companies often face challenges in securing investment compared to their male counterparts, despite demonstrating higher revenue and return on investment.
- There persists a lack of women in investment decision-making roles, exacerbating the finance gap, as investors typically favor teams that resemble them.
- Women lack of networking opportunities, according to our research men are more likely to be part of a social network that included other men, while most of the non-investing women did not know any female peers or role models who were angel investors.
The numbers speak for themselves
- 0 %
Less than 3% of funding goes to companies with a female CEO.
- 0 %
Less than 0.2% of all venture capital funding goes to female entrepreneurs of color.
- 0 %
86% of all venture capital-funded businesses have no women in management positions.
- 0 %
Women-owned businesses only receive 21% of the nearly USD 1 million median investment that businesses generally receive.
Funding distribution by gender
Funding for female-only businesses
Early Rounds: Female-only businesses receive 7% of seed funding.
Series A: Female-only businesses receive 5%.
Series B: Female-only businesses receive 3%.
Series C+: Female-only businesses receive 2%.
Funding for female/male co-founded businesses
Female/male co-founded start-ups receive 14% (seed)
Female/male co-founded start-ups receive 10% (series A)
Female/male co-founded start-ups receive 13% (series B)
Female/male co-founded start-ups receive 10% (series C+)
Why does it matter?
Despite female-led businesses outperforming male-led ones by 63%, they receive only about 2% of global venture capital funding. Our research paper, 'The Funding Gap,' highlights this disparity, hindering gender parity and potentially causing investors to overlook lucrative opportunities.
Taking action: What can be done?
In the context of obtaining VC financing, which observations could be taken that could help women navigate those hurdles?
Empowering Women within DE&I
Accountable
Our accountability framework embodies the oversight of the Group Executive Board (GEB) and its commitment to achieving our aspirational goals, along with empowering leaders to drive our DE&I strategy forward. We use data monitoring, fair pay practices, management dashboards, and toolkits to support accountability.
Hire
Over the past five years, we’ve put strong foundational processes in place to optimize diverse hiring even in uncertain markets and times of considerable attrition.
We continue to focus on training recruiters and hiring managers to help mitigate unconscious bias in the hiring process and hire the best-suited candidate for each role, regardless of background.
In 2023, our hiring ratios were strong for women at all levels (43.3% hired compared with 40.9% headcount representation). Our ethnicity hiring ratios improved for US talent (46.9% hired compared with 31.9% headcount representation), UK talent (40.4% hired compared with 29.2% headcount representation), and for UK Black talent (16.4% hired compared with 3.6% headcount representation).
Develop
Part of building an inclusive workplace is providing equitable access to advancement opportunities. To help ensure employees at all career stages have equitable development opportunities, we sponsor key talent and leadership development programs. As examples, in 2023, our new Growth Alignment Experience was launched for Associate Director and Director level employees of UBS Group excluding Credit Suisse in the US identified through a self-nomination process.
Over a six-month period, 50 initial participants worked with external coaching professionals to enhance their strategic planning skills, expand their networks and build connections.
The strength and potential of our development programs and talent processes were reflected in female promotion rates for 2023 at Director, Executive Director and Managing Director levels. For example, 35.6% of Director level and above promotions were female (compared with 31.5% in 2022). Similarly, the US ethnic minority rate for Director level and above promotions was 33.9% in 2023 (vs. 19.6% in 2022) and the UK ethnic minority rate for Director level and above promotions was 28.7% in 2023 (vs. 24.8% in 2022).
Belong
A sense of belonging helps drive engagement and is important for overall well-being. We strive to create an environment where every employee feels they have a place and are recognized and respected for who they are and what they add to our workplace.
Many of our policies, including fair pay and equal opportunities, along with highly valued employee options such as hybrid working arrangements, support a workplace environment that fosters belonging.
UBS Female founder award and program
UBS published "The Funding Gap: Investors and Female Entrepreneurs" report in 2023, examining reasons behind the funding gap and identifying ways to narrow it.
The UBS Female Founders program comprises an annual award (The Female Founder Award) and also an accelerator program, Project Female Founder, that runs in partnership between the Women’s Wealth program and UBS Next, the firm's venture and innovation arm, and aims to tackle the gender funding gap by offering opportunities for female founders to access the UBS venture ecosystem. Through this collaboration, we strive to empower women in entrepreneurship and foster their success in the competitive landscape of innovation and investment.
Project Female Founder
The year-long accelerator program for female entrepreneurs is designed to equip them with essential skills for investor readiness, networking, and mentorship. Our goal is to assist early-stage female founders in overcoming obstacles and gearing up for expansion. Through partnerships like Fortuna Funding's eight-week investor readiness and pitch practice program, mentorship from UBS Client Advisors, and access to the global Coralus network for mentorship and connectivity, we provide comprehensive support. Now in its third year, the program has experienced a significant uptick, with a 70% increase in applications. Over 60 UBS Client Advisors and 75 founders from various corners of the globe have participated, demonstrating the program's global reach and impact.
Testimonials, such as Kimberley Abbott's success with Vested, underscore the transformative impact of UBS's programs.
The UBS Female Founder Award and program has been one of the most transformative experiences for myself, as a leader, and also for my company.
The Female Founder Award is an annual program that celebrates exceptional entrepreneurial accomplishments within the fintech and enterprise tech sectors.
Impact and research
UBS has been focused for over a decade now on better serving the financial needs of women, since global research continues to show that women’s financial needs are not being met and that they different to those of men.
We have been very focused reimagining the delivery of wealth advice for women, ensuring that our advisors are having the right kind of conversations with female clients. These conversations are changing with the increasing ownership and control of wealth by women (project to be 35% of global investible wealth by 2025 – see UBS CIO 2022 ‘Women and investing: reimagining wealth advice’).
We have continued to publish research to guide women on investing (since 2017) and this year we have published the report “Women and Investing - Achieving lifetime goals” in 2024 looking at how women can build a strong investment strategy and portfolio to help them achieve their lifetime goals in a world where the gender gap persist.
UBS Published the report “Women and Investing Planning for your legacy” in 2024 looking at how women investors define legacy, their concerns, how they can best allocate their resources to meet their objectives, and how it is important that they also put a financial plan in place for the smooth transfer of their wealth.
This research holds paramount importance for both our clients and us at UBS. For our clients, particularly women investors and entrepreneurs, these reports serve as resources providing insights, guidance, and strategies tailored to their unique financial journeys. By addressing the gender gap in investing and entrepreneurship head-on, we empower our clients to navigate the financial landscape with confidence, ensuring they can effectively plan for their future, achieve their goals, and safeguard their legacy.
UBS hosts numerous events around the world to engage women with investing, sharing our financial confidence tools to support (see www.ubs.com/women-invest).
We also have focused regional programs to drive engagement with women, for example in the Middle East where we host regular events to encourage female financial empowerment and create dedicated thought-leadership to support this (see our report ‘Women and investing – voices from MENA’ www.ubs.com/womeninmena).
