Blog   Tagged ‘training’

Community Partnerships: The key to your diversity and inclusion plan

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So your company has created and implemented a comprehensive diversity and inclusion plan. Now what? A key component of your company’s plan is choosing community partners. These partners provide an expertise and insight on how your company can succeed from a diversity and inclusion perspective.

Diversity Partners

At UMB, we choose organizations and groups that have been identified through our diversity council as major contributors to our strategy. Our goal is to have these organizations enhance our diversity and inclusion strategy in four ways:

  1. Talent acquisition and development - We build a stronger company by hiring and retaining talented, high-performing associates with diverse backgrounds.
  1. Associate engagement - We demonstrate inclusiveness by ensuring each of our associates has a voice and opportunities to share ideas.
  1. Corporate community involvement and volunteerism - Our associates regularly volunteer at the organizations who are our collaborative partners.
  1. Regional cohesiveness - We try to find organizations that have outreach in multiple cities across our footprint (Black MBA Association in Kansas City and St. Louis, Urban Financial Services Coalition in Kansas City, St. Louis and Omaha). But we also will work with independent organizations (The Regional Business Council of St. Louis).

So how do both the company and the community organization benefit from these partnerships?

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Within the company, community partnerships help make associates aware of diversity. Additionally, they help associates stay educated about their community. Some organizations even offer training programs for associates, like a Lunch and Learn, so they can get a better understanding about the community organization and the work they do. For example, UMB works with the Hispanic Chamber of Commerce in Greater Kansas City and they provide our associates with training about how to work with Hispanic businesses.

The company benefits externally from these partnerships by helping us connect with our community. They help us connect with people, resources and other businesses. They help share our vision, mission and values in the diverse communities that we serve.

Community organizations benefit from these partnerships depending on the company. At UMB, we provide them with financial education programs. We also have company officers who serve on boards for the organizations. And we encourage our associates to volunteer for their various programs.

Ultimately it’s important for both the company and the organization to feel like the partnership is bringing some value to them. Both parties should be involved, creating mutually agreed upon activities and goals. Representatives from both organizations should meet regularly to discuss whether or not the partnership is on track. In fact, at UMB we require our collaborative partners to submit an annual report, as well as a scorecard that gives information about their website traffic, how many scholarships they gave out and the amount (if applicable), how many programs they organized during the year, etc.

With the help of these community partners, your company’s comprehensive diversity and inclusion plan will be complete. With your unique combined perspectives, you can be more competitive and create stronger connections within your markets.

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Dr. Hendricks serves as senior vice president of Diversity and Inclusion at UMB. She is responsible for the corporate-wide diversity and inclusion strategy. She joined UMB in 2006. Dr. Hendricks earned a Bachelor of Science in Human Development Psychology and Mass Communications and a Master of Science in Counseling Psychology from Kansas State University in Manhattan, Kan. She also earned a Doctorate in Educational Psychology and Policy Analysis from the University of Missouri-Columbia.

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The business of doing good: How to manage your non-profit’s finances (Part 3)

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Recently, UMB hosted a group of almost 40 representatives from Colorado Springs non-profits to talk about a variety of financial management tips for non-profit organizations. In my previous blog posts I highlighted two topics that came up during the conversation: streamlined fundraising processes and supporter/employee enthusiasm. The third subject we discussed was the idea that non-profits need a bank that acts as an extension of the organization.

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Most people probably don’t automatically make the connection between a bank and a non-profit, but the two organizations can work together to create a productive partnership. An important part of the support non-profits need to thrive is the relationship they have with their bank. Since funding is the primary way to ensure that the non-profit can continue to operate, good financial management is key. A strong relationship between a non-profit and their bank may give the staff peace of mind and help them to focus on doing good things for their community and less about their financial management.

Some challenges that non-profits face include getting sufficient funding, board and associate development and staff retention. Your bank may be able to direct you to resources that can help you overcome these challenges:

A good relationship with your bank can also help your organization achieve a sound financial structure. In addition to keeping the organization up and running, a solid balance sheet could help attract new leadership to your organization. One of our non-profit clients came to us with a potential board member who was interested in joining the organization’s investment board. The potential board member was passionate about the organization but concerned about their investment risk management. After talking with UMB and the non-profit leadership about the investment risk, he was no longer worried and joined the board because he could focus on his passion for the organization.

Non-profits offer many invaluable services to their communities. While these organizations differ from for-profit businesses in their mission and goals, they have the same business principles. Treating the financial management of a non-profit like a business helps the organization in the long run because they’re able to focus on serving the needs of their community.

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Mr. Doyle is community bank president for UMB’s Colorado Springs region. He is responsible for guiding strategic direction in the Colorado Springs region as a member of the Colorado management team. He joined UMB in 2011 and has eight years of experience in the financial services industry. He earned a bachelor’s degree in finance from Florida State University in Tallahassee, Fla. and a master’s degree in business administration from Oral Roberts University in Tulsa, Okla.

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