PIMCO’s core mission is to deliver superior investment returns, solutions, and service to our clients; to accomplish this mission we strive to foster a high-performance culture – one in which we live our values, continuously develop our talent, responsibly manage our business and adeptly navigate change.
We know that to foster a high-performance culture, we must leverage the benefits of diverse skills and perspectives. As such, the mission of PIMCO’s Inclusion Diversity Culture effort is to heighten employees’ appreciation for diverse perspectives and skills, which in turn will facilitate increased collaboration and enhance our ability to attract, retain, develop, and engage top talent – all of which will lead to better outcomes for our clients.
Our philosophy acknowledges a wide range of identity dimensions such as race, ethnicity, gender, sexual orientation, gender identity, and military status but also focuses on dimensions and concepts such as culture, business segments, geographical diversity, unconscious bias, cognitive diversity, and inclusive leadership.
Overall we seek to achieve our mission through the combined efforts of our dedicated volunteer teams, continued engagement from senior leadership, process enhancements that mitigate bias in our recruiting, development, and promotions processes, as well as sustained long-term commitment to our mission.
When we launched our IDC efforts, we were thoughtful about our objectives including:
- Deliberately placing “inclusion” ahead of “diversity” in the title of this initiative, partially as an acknowledgment that we may never have a perfect representation of society within our employee base, but we are still seeking to create an environment where there are equal opportunities for success, regardless of identity measure.
- Defining diversity around identity dimensions as well as cognitive dimensions. Annually we host speakers to address these topics prior to our year-end review process. Prior speakers have discussed diversity of communication and interaction styles (introverts vs. extroverts), the importance of collaboration, actions to mitigate unconscious biases.
- Third, we tried to be very mindful about making this an employee-led initiative (vs. a corporate push-out) that collaborates closely with multiple teams across the firm to ensure alignment and integration into our businesses processes
To create better cultural outcomes, we must each individually embody the behaviors we seek from others and collaborate across all groups within the firm. In that spirit, we seek to empower colleagues to positively influence our environment.
To empower employees, we created ERGs that provide a platform for our employee population. Each ERG developed organically, with individuals coming together around common causes with the aspirations of advancing our efforts around the attraction, development, engagement, and retention of top talent.
To the extent there is not the critical mass to develop a separate ERG, our goal is to try and accommodate the awareness that individual or individuals seek to bring to a specific cause as appropriate. This is why we supplement the efforts of individual ERGs with broader IDC communications, the purpose of which is to showcase the shared vision of our combined efforts.