Diversity, Equity & Inclusion

At Prime Credit, we hold the belief that diverse

teams are adept at posing more insightful inquiries,

while inclusive teams uncover superior solutions.

At Prime Credit, we're firm believers that diverse teams excel, driving us to foster a community where we consistently exchange insights, embrace diverse perspectives, and challenge the prevailing norms.

Our Strategy and Commitment

Our enriched and inclusive community enhances our capacity as collaborators and, ultimately, empowers us to construct more robust enterprises. As we progress in our quest to establish a more inclusive workplace, we have pinpointed four fundamental components crucial for enduring transformation.

To inspire both teams and individuals to take proactive steps.

To provide direction, track advancements, and fortify responsibility.

Ensuring everyone is aware of actionable steps while our frameworks facilitate inclusive initiatives.

Core Features

Prime Credit Areas of Impact.

We are committed to integrating diversity, equity, and inclusion (DEI) principles into every aspect of our operations. This commitment entails actively fostering inclusivity, reconfiguring procedures, norms, and practices, and leveraging our areas of influence to advance towards our objectives. By catalyzing initiatives within our organization, our investments, and our broader community, we are advancing DEI initiatives in the short term and setting the stage for even more significant progress in the future.

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After years of dedicated investment, we have seen notable advancements in the composition of the boards of our portfolio companies. In 2016, we established a target within our US corporate private equity division to ensure diverse representation on all majority-owned company boards within two years of acquisition. Initially, 38% of eligible boards met this objective. Fast forward four years, this figure has surged to 88% overall and reached 100% within our flagship US Buyout funds. Moreover, in 2020, we expanded our diversity goal for portfolio companies worldwide, aiming for 30% diversity among all directors in corporate private equity-controlled firms by 2023.

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Community Engagement


Throughout 2022, the breadth of the community concept became increasingly apparent. From the challenges posed by the COVID-19 pandemic to the impact of natural disasters and persistent race and gender disparities, the urgency for service has never been more pronounced. In response, we introduced Prime Credit Gives Back, a comprehensive platform encompassing all volunteerism, gift-matching, and grant-giving endeavors. Our aim is to provide Prime Credit employees with ample opportunities for community engagement and charitable outreach. That's why we facilitate coordinated service initiatives and provide paid time off allowances through our Day of Service program.

Employee Involvement


To foster a thriving workforce, it's essential to go beyond talent development and career advancement. By promoting the celebration of commonalities and shared interests among employees, we cultivate a diverse, inclusive, and interconnected organization.

Prioritizing Employee
Well-being

At Prime Credit, prioritizing the well-being of our staff remains paramount. We've curated a comprehensive program designed to address the holistic needs of each individual, encompassing competitive benefits, continuous learning and career advancement opportunities, and initiatives to promote financial, physical, and mental wellness. Our objective is to cultivate Prime Credit as a more enriching and satisfying workplace—one that mirrors the diverse fabric of our society.

We've taken proactive steps to prioritize the health and safety of our employees and their families, bolstering our wellness initiatives with an extensive array of resources and tools. These include physician-led podcasts, mindfulness and meditation applications, parenting support resources, and virtual therapy programs. Furthermore, we uphold transparency in decision-making processes at the senior leadership level.

Strategy for Diversity, Equity, and Inclusion


At Prime Credit, we strive for every individual to have an equal opportunity to succeed based on merit, irrespective of race, color, religion, ancestry, national origin, sex, age, disability, marital status, citizenship status, sexual orientation, gender identity expression, military or veteran status, or any other characteristic. Why do we emphasize this? Because to us, teams that embrace diversity and inclusivity, with members from diverse backgrounds, contribute to our collective improvement. They foster innovation, facilitate balanced decision-making, engage our communities, and assist our clients in achieving superior results.

Diversity Recruitment


Introduce fresh recruitment procedures to enhance access for diverse candidates.

Accountability Across All Levels


Cultivate leaders who exhibit and advocate for inclusive conduct.

Development of Diverse Talent


Nurture an inclusive atmosphere that fosters the growth of diverse talent.

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Prime Credit Employees
Learning to Drive
Racial Equity

Prime Credit introduced a Racial Justice & Anti-Racism Resource Library, providing Prime Credit employees with a range of literary, reference, and virtual materials to deepen their understanding of the vital and globally significant subject of anti-racism, whether they are beginning their journey or seeking further advancement.

The success of a company is increasingly reliant on its ability to approach and address challenges from various viewpoints, and a diverse pool of talent often offers a significant competitive edge. Promoting Diversity, Equity, and Inclusion (DEI) yields numerous benefits, benefiting employees, the business, and investors alike, by cultivating a more inclusive and productive workforce.

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Strong Trust Fosters Employee Well-being

Effective Diversity, Equity, and Inclusion (DEI) initiatives are built upon a unique framework of actions and mindsets. Diversifying talent acquisition serves as an evident initial step. Additionally, cultivating a culture marked by information sharing, productivity, trust, and employee contentment is indispensable. Psychological safety is equally crucial, nurtured through genuine empathy and firm commitments to mitigating workplace biases, enabling individuals to express themselves freely. These elements coalesce with innovation, fostering a virtuous cycle wherein trust flourishes and ideas flow uninhibitedly within and across teams. In organizations where innovation is paramount, we firmly believe that DEI can wield significant influence over business prosperity.

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Enhanced Diversity Associated with Improved Profitability

While the rate of adoption remains slow, businesses that have prioritized Diversity, Equity, and Inclusion (DEI) have surpassed their counterparts. A recent study, analyzing 1,000 large companies across 15 countries, found a correlation between gender and ethnic diversity and improved financial outcomes. Companies in the top quartile for executive-level gender diversity were 25% more likely to achieve above-average profitability compared to those in the lowest quartile. Furthermore, companies with women occupying over 30% of senior positions are notably more inclined to outperform those with fewer female leaders.

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DEI in Action

Firms are bolstering their Diversity, Equity, and Inclusion (DEI) efforts to attract and retain employees, particularly in light of escalating regulatory demands. DEI initiatives can foster an inclusive corporate environment, offering companies a competitive advantage over less proactive rivals. For investors, the critical aspect lies in discerning the criteria to consider when assessing companies.



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The Issue

An emerging generation increasingly regards Diversity, Equity, and Inclusion (DEI) initiatives as essential, while companies are turning to DEI to secure a competitive advantage in attracting and retaining employees—acknowledging its significant business benefits.

The Investment Case

Employee attrition can significantly impact a company's financial performance, whereas potential forthcoming regulatory obligations may position firms that proactively prioritize Diversity, Equity, and Inclusion (DEI) as safer investments.

Engagement Goals

Companies ought to contemplate integrating Diversity, Equity, and Inclusion (DEI) initiatives into their organizational DNA, involving commitment from top management and implementing efficient tools for gauging corporate involvement.



Effectively managing a workforce has always been crucial for achieving business success. In today's progressively diverse society, adept people management is essential for companies aiming to retain talent and foster favorable customer relationships.

In recent times, the significance of diversity, equity, and inclusion (DEI) policies has heightened within contemporary work environments. Nonetheless, DEI is occasionally perceived as a "soft" policy area that may not directly influence investor outcomes.

We believe this perspective is misguided.

Robust DEI policies can offer companies a competitive advantage, particularly in a competitive labor market where the competition for talent is intense, and a positive corporate culture can play a pivotal role in surmounting business challenges.

Drawing from our interactions with investment management firms and past DEI executives across various industries, we have outlined essential criteria that investors should consider when assessing a company's DEI initiatives. It's important to note that the research presented here primarily focuses on the US context and should be interpreted with an understanding of regional distinctions.



DEI: A Sound Business Strategy

Numerous companies focus their DEI initiatives on risk mitigation rather than integrating DEI into a supportive corporate culture that aligns with business objectives. We advocate for DEI initiatives not merely to fulfill regulatory obligations but because they are sound business decisions. Ad hoc measures fall short in addressing systemic challenges, underscoring the necessity of incorporating DEI into a comprehensive strategic framework.



Assessing DEI Advancement


Irrespective of their scale, comprehensive data analysis is imperative for the effectiveness of DEI plans, requiring tools to evaluate a company's advancement towards its objectives. Here are some notable examples:



Integrating Listening Framework


Numerous companies are integrating what's termed as a listening architecture as a method for gauging DEI advancement. This encompasses investing in a comprehensive active listening approach that incorporates surveys, polls, focus groups, and discussion forums. Companies can disseminate the findings through various channels such as town halls, leadership communications, and corporate portals, spotlighting specific feedback and ideas from employees.



Exit interviews represent another instance of listening architecture. These interviews provide a valuable opportunity to gather feedback regarding a company's DEI initiatives. Employees may be inclined to provide more actionable insights if the interview is facilitated by a member of the DEI team. For instance, one semiconductor manufacturing company implemented a structured exit interview procedure that screens for potential DEI issues, focusing primarily on departing underrepresented minorities and female executives.



Inclusive Management Handbook


Managers aiming to cultivate a more inclusive environment can utilize an inclusion playbook. This playbook spans across various aspects of the employee lifecycle, encompassing recruitment, onboarding, development, compensation, wellness, and even the evaluation of personality traits such as empathy. The objective is to furnish managers and their teams with a series of daily actions to integrate DEI into their people management practices.

Crucially, the playbook isn't exclusively designed for mid-level managers. Instead, it should involve the most influential managers within the company, as they frequently establish the tone for culture and employee working environments.



DEI Analytics and Scorecards


Numerous companies with DEI initiatives dedicate a portion of their analytics resources to assess DEI efforts.
NVIDIA, a leading chip maker, maintains an Insights team dedicated to gathering employee data from various internal sources. They collaborate closely with the Human Resources analytics team to pinpoint areas for ongoing enhancement. The company encourages its business leaders to leverage this detailed data to inform talent-related decisions, encompassing compensation and career progression.

Evaluating diversity initiatives can be accomplished through analytics scorecards, providing managers with valuable quantitative insights. These scorecards enable managers to evaluate hiring, attrition, and promotions based on race and gender in a concise format. They go beyond mere progress reports or high-level summaries, instead providing data-rich analytics to inform future decisions.



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DEI Integration into Corporate Culture

When executed effectively, DEI initiatives and accountability permeate every business unit, function, and employee team. It's unrealistic to expect one group of employees to shoulder the responsibility for the success of an entire organization alone. We believe it's crucial for the DEI function to be widely integrated throughout the entire organization, thus becoming an intrinsic part of the company's DNA.

Establishing effective accountability requires providing employees with the necessary resources and securing management buy-in to implement DEI initiatives. This entails placing high-profile business leaders and managers at the forefront of DEI efforts, a departure from solely relying on Human Resources functions or employee resource groups.

Target, a retailing powerhouse headquartered in Minneapolis, offers an illustrative case. In order to decentralize accountability throughout the organization, each business unit at Target adopts its own DEI approach, which is aligned with and propelled by the organization's overarching strategy. Within each group, DEI goals are delineated, outlining the execution plan and specifying individuals who are responsible for achieving results.

A logistics services firm similarly integrated a DEI initiative with its business aims by recognizing the necessity of enhancing gender diversity and increasing the representation of women in leadership positions. The company set a year-end objective for at least 30% of all company revenues to originate from teams led by women.

Attracting talent is a fundamental element for achieving business success. Companies that prioritize inclusivity in their recruitment processes are likely to attract higher-caliber employees, thereby enhancing their competitive edge and delivering superior results for investors.



However, what is the most effective method for cultivating a diverse workforce? Numerous companies concentrate on fulfilling predetermined diversity quotas, yet in our perspective, this may not be the optimal approach. In the endeavor to augment the presence of women or minorities within the workforce, human resources (HR) departments may not always recruit individuals best suited for the roles.

Instead, we believe the crucial factor lies in devising more innovative approaches to identify the most qualified individuals for roles, by mitigating biases that could hinder the recruitment of diverse talent. Despite many employers asserting their commitment to fostering fairer recruitment processes, a survey conducted by the HR Research Institute reveals that the majority do not implement this systematically.



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Investors should seek out three categories of inclusive recruitment strategies that indicate a strategic amalgamation of progressive hiring practices and a commitment to diversity.

Reconceptualizing Qualifications: Focus on Behaviors, Not Backgrounds


Recruiters are often impressed by impressive resumes. Degrees from prestigious universities or professional experience at renowned companies can enhance a candidate's profile. However, many essential soft skills aren't easily discernible from a CV but can significantly impact the success or failure of a new hire.

Does the candidate possess the requisite creativity for the role? Are they comfortable challenging conventional wisdom? What about problem-solving abilities and intellectual curiosity? If a company could assess these capabilities, it might discover highly qualified candidates who don't fit the traditional mold for a given position.

Infosys, an Indian IT services firm, exemplified this approach. Recognizing the need to enhance its team of US-based client-facing personnel, the company prioritized critical thinking over an engineering degree for entry-level roles. To fulfill this need, Infosys collaborated with community and liberal arts colleges across the US to identify students with strong critical-thinking abilities, who could then be trained in coding. These colleges typically enroll a higher proportion of female and minority students. Leveraging this talent pool enabled Infosys to expand and diversify its US workforce, aligning it more closely with the diversity of its clientele.

Diversity isn't commonly associated with the driver's seat of a delivery truck, a role traditionally perceived as male-dominated. However, SG Holdings, a Japanese trucking and logistics firm, shattered this stereotype. Faced with challenges in recruiting male drivers in Japan's aging population, SG made strategic investments in technology to redefine the skill set required for roles historically considered physically demanding. For instance, the company invested in swap body trucks equipped with interchangeable containers, enabling the separation of loading tasks from driving responsibilities. Consequently, SG now boasts a more diverse fleet of drivers, including women, the elderly, and individuals with disabilities.

Exploring Nonconventional Talent


Human resources departments frequently adhere to familiar hiring practices, selecting candidates from comparable educational institutions and companies, thereby restricting diversity. Innovative recruitment approaches should be receptive to exploring pools of qualified talent in unconventional locations.

Take the military, where prioritizing safety and procedural adherence is essential. These qualities align seamlessly with the needs of companies like Herc Holdings, specializing in heavy equipment rentals for construction. Herc sought out US military veterans, reservists, and National Guard members as potential employees and discovered a diverse array of highly skilled individuals perfectly suited for their roles.

In Europe, refugees from the war in Ukraine and other hotspots might not seem like an obvious place to hire employees. Yet refugees are highly motivated people looking to rebuild their lives after fleeing home. Capgemini, the France-based IT company, launched a program in the UK to train and place refugees in digital jobs, helping to address a huge skills shortage in the sector. French cosmetics group L’Oréal also started to integrate refugees into its workforce in 2022. “The goal is to shift mentalities on migration and turn the challenge of integrating refugees and exiled people into an opportunity for businesses and the economy,” L’Oréal said at the time.

Mitigating Bias in the Recruitment Process


Biases represent a significant hurdle in cultivating a diverse workforce. Heightened awareness of these challenges has spurred the development of numerous tools aimed at minimizing bias and fostering inclusivity.

Thermo Fisher Scientific, a US-based provider of scientific equipment, utilizes a tool to evaluate all job postings, reducing language bias by identifying words that could inadvertently deter potential candidates from applying. In the UK, industrial firm IMI provides training on unconscious biases and mandates headhunters to present gender-balanced candidate pools. As a result, for three consecutive years, half of the engineering graduates recruited by IMI have been female.

Mastering recruitment is arguably one of the most underestimated factors in maintaining business vitality. We believe that investors prioritizing diversity should scrutinize how companies source talent more closely. Those adept at deciphering the recruitment puzzle will inherently broaden their workforce with individuals better suited to their roles—thus, propelling the company toward a more prosperous future.