This column was provided by Genevieve Stow (pictured), global director of outreach and sponsorship, at ISC Group.
I've witnessed first-hand the transformative potential of Employee Resource Groups (ERGs) within the re/insurance industry. The rise of ERGs has led to a dramatic shift in how organisations approach their employees, emphasising the importance of valuing the workforce—especially women—by creating an environment where everyone can thrive and enjoy their work.
ERGs play a crucial role when fostering an inclusive and supportive work environment, cultivating a sense of belonging and providing open dialogue on cultural and social issues. They present a phenomenal opportunity for women to effect cultural change, be recognised for their contributions, enact a collective voice, and create pathways for them to advance in their careers.
They also help companies better understand and meet the diverse needs of their workforce, provide crucial support, and enhance individual well-being in the workplace which, in turn, positively impacts employee satisfaction and retention. Beyond individual companies, ERGs set industry standards for inclusivity and collaboration, promoting a more equitable and supportive business environment.
The ERG is a tool that should not be underestimated. They have the power to be transformational and are the ideal space for an organisation to promote company values, harness innovative ideas and spotlight committed employees. However, ERG fatigue and group lack of identity are a reality for many. It is integral for companies to ensure that these groups are appropriately structured and resourced to reap the myriad benefits.”
ERGs succeed when they are built upon a foundation that contains a strong structure, clear purpose, and defined direction. These groups thrive by maintaining consistent communication, ensuring group members are regularly informed and engaged.
The presence of a senior-level champion is crucial for providing advocacy at management and board level, as well as a method of two-way communication between the day-to-day reality of employees and broader organisational goals.
By implementing these key steps, ERGs can tailor their initiatives to meet the specific needs of their members, ensuring inclusivity and relevance. Moreover, showcasing tangible outputs and measurable achievements help demonstrate the value and impact of the ERG, fostering a sense of accomplishment and motivation among participants. This comprehensive approach not only keeps the ERG dynamic and effective but also reinforces its importance within the company, ensuring continued support and recognition.
As an industry hub, existing for more than 20 years, ISC Group has the experience to re-energise an ERG. We collaborate with ERGs to enhance their internal value, offering unique insights and resources that complement existing women's groups, ensuring these initiatives are more impactful and aligned with organisational goals.
From working with ERGs across our 100 corporate partners, we are in a prime position to observe trends, share best practice, and facilitate cross-fertilisation, driving innovation and effectiveness across organisations, and the industry. We create pathways for ERGs to thrive by providing opportunities to innovate, reset, and reengage, creating a space where women can feel valued and belong.
This Autumn, we will be launching a new committee focused on fostering innovation collaboration, and inclusivity for ERGs, using the latest trends and insights from both inside and outside the re/insurance sector. Representatives from ISC Corporate Partner ERGs will come together to share best practice in the unique safe space environment, to collaborate on a cross-industry basis to ensure that their work is recognised and drives results.
Through this committee, ISC Group will work closely with its partner organisations to build a more inclusive culture for women across the re/insurance industry utilising its most powerful assets; it’s colleagues and employees.
As we look to the future where ERGs drive meaningful change in today's interconnected workplace, creating impactful outcomes for business and every employee in our sector.
