Exploring the experiences of women of color in contributing to retention and attaining global diversity in the financial services industry: A qualitative exploratory inquiry

Twenty-first-century organizations within the financial services industry face a pervasive challenge. An increasingly diverse workforce and an inability to manage culturally diverse teams impede the attainment of global diversity. Women of color represent a growing demographic and are expected to comprise 53% of the female population by 2050. The focus of this qualitative study was to explore how the experiences of women of color can inform the creation of an inclusive organizational culture. While past research has focused primarily on women as a group, this study was designed to integrate the perspectives of women who experience dual forms of oppression. The research results provide insights for leveraging the experiences of women of color to create an inclusive organizational culture. The common experiences of women of color suggest that exclusive organizational cultures may diminish an organization's efforts to retain a diverse workforce. These results may advance the agenda for global diversity and improved retention of women of color in the financial services industry.