A long overdue debate around race has opened up in response to events in the US and the Black Lives Matter movement. Here, two treasury professionals talk about their own experiences as people of colour in the workplace, the positives of today’s emerging conversation around race and what we can all do to sustain that conversation.
MANO SUNDARAM: The debate on race has recently surfaced in a more nuanced conversation on diversity and inclusion in the workplace.
The conversation has, in addition to looking at race, sparked us to think more about diversity of thought and personal experiences that people with different upbringings contribute to the workplace.
I am energised by the openness with which people have embraced some of the existing challenges and the need for us all to show leadership in bringing about change that makes business sense and drives value and care for our colleagues, customers and communities.
KUNLE ALADEWOLU: Migrating to the UK 17 years ago, I was full of confidence and excited about what I could achieve. I had been raised in Nigeria by parents who instilled love, acceptance and a desire for excellence in me. This confidence got hit when I started to see that I was different here – and not just different, but not altogether accepted.
I quickly realised that it was easy to be accepted in Nigeria where pretty much every child looked like me. And easy to be confident when most people in positions of authority looked like me, too. I found that I had to be more intentional and determined to achieve all I hoped to in the UK. Having conversations with other people of African descent who grew up in Europe, though, I quickly realised that I had a better experience than many who grew up being the ‘minority’, as they had to face discrimination in their formative years – be it subtle or obvious.
Confidence and self-worth are built so early in life, something I appreciate even more now that I have kids. This means that it is important to have these conversations and make people aware that even though we might look different, we are all the same. It is ironic that it took me – a black person – having a conversation with another black person to truly understand the struggles of racism because my experiences were different growing up.
I think these conversations are a great step forward, to help people understand what black people have been trying to say for so many years and also realise that it isn’t just about black people – it is about everyone. My wife – a children’s book author – wrote on HuffPost recently about why it is important to teach kids about diversity so that we all grow up to be more tolerant and accepting adults. She discusses eight ways to incorporate diversity into your family routine. She and many others are speaking out now because people are finally listening, and we are getting tremendously positive responses from people of other races.
It is sometimes easy to turn a blind eye when something doesn’t seem to concern you directly, but the events of this year have brought the issue of race to the forefront of society, which has to be a positive thing. What we need to ensure now is that it is not just a fad or trend, but a breakthrough that will change the future!
MS: Shell has been promoting all forms of diversity, including race equality, for some time. I have been exposed to debates on the need and desire to create an inclusive workplace ever since I joined Shell in 2006.
Our CEO, Ben van Beurden, recently openly acknowledged in a deeply personal note to staff some issues that BAME community members of staff continue to face in the workplace, be it insensitive language being used about their colour or hair – or even ignoring a suggestion from a black colleague only to praise that suggestion when repeated by a white person.
He also outlined some concrete actions to ensure all people are treated fairly, no matter what the colour of their skin. These actions include a thorough review of how we hire, how we develop, how we assess and how we promote staff. An organisation can only tackle these issues if they are acknowledged by all levels in the organisation and when all of us demonstrate willingness to address these issues and create a fairer workplace and society.
KA: All through my career, I have been open to talking about race, but it seemed to have become such a taboo subject that it rarely happened, especially not with someone who wasn’t also black. It is often said that black people – or minorities in a predominantly white population – have to work twice as hard to get half as far. While it is difficult to say if this entirely accurate, I am grateful that the spirit of excellence instilled in me from a young age has helped as I have navigated my career so far.
In my first role in treasury, I had a great manager who happened to black. He wasn’t just a great manager, but also an awesome human being. Looking back, that was probably a huge positive for me as I started my career – as I found fewer and fewer black people around me as I went up the career ladder.
I would imagine that the events of recent months would have resulted in a greater willingness to talk about race in most organisations. The fact that this article is being published in The Treasurer emphasises this. If I was to think of one negative about the timing of all this, though, it would probably be that it happened with the whole world in lockdown. It is easier to have a chat about things of this nature when getting coffee with your colleagues than it would be over Zoom – especially if it is not something you have spoken about before. So, I would assume that the conversation is not as popular at work as it might have been were we still in the office.
For me personally, I started a new role just after the lockdown started in the UK, so that makes it an even more awkward conversation to have with a brand-new colleague who you have never met in person. I do hope, however, that everyone eventually feels comfortable enough to talk about race with me, as I am always open and willing to discuss.
MS: I think the treasury profession is pretty meritocratic in the way opportunities open up for well-qualified and motivated staff. The global reach of the profession, working across geographical boundaries, means that we are exposed to various cultures and collaborate naturally with a broad and diverse population. We can certainly enhance the conversation by creating mentoring circles for young BAME talent.
I was privileged to have strong coaching from the previous group treasurer of Shell, Andy Longden, which enhanced my confidence and can-do attitude. I am keen to pay that forward by investing time to have meaningful conversations with talented young BAME community professionals in the treasury space, supporting them to become the treasurers of the future.
KA: I think the first step is to recognise it is an issue. Thankfully, I have seen more people recognising that it is not just an excuse when people of colour try to voice their struggles and concerns. More people are also recognising that it is not just a ‘black issue’, but a societal issue that affects us all. This is good to see, but there is still more work to be done. Research shows racial prejudice is formed as early as five years old. For me, this means that this issue – which many describe as systemic – needs to be tackled on a societal level, through families and schools. This is not to say only that the next generation can get it right, but it is a good place to start, to ensure their world is better than ours.
Getting people talking is a remarkable achievement in itself and the next step is to take action. This is not just about having the conversation, it is about action. Earlier, I spoke about how it was easy for me to be confident when I grew up in Nigeria where most people in authority looked like me. I also discussed how having a black manager when kicking off my treasury career probably helped me feel more confident. Those two points tie back here, to one very important word: representation.
My kids get excited when they see someone in a movie that looks like them just as I was more confident in myself when I saw black people in leadership. We need to practice diversity and not just preach it; I’m talking about true diversity and not a box-ticking exercise. We must take responsibility individually to change. Talk to your colleagues about it, but more importantly, find out how to support them and be open to learning.
To quote Nelson Mandela: “No one is born hating another person because of the colour of his skin, or his background, or his religion. People must learn to hate, and if they can learn to hate, they can be taught to love, for love comes more naturally to the human heart than its opposite.”
Kunle Aladewolu is manager, capital markets and treasury at Actualise Consulting
Mano Sundaram is VP investor relations Europe at Shell