Employees at The Carlyle Group are learning that it pays to build a diverse work culture. The US-based firm allotted $2 million to award 52 finance professionals across Carlyle’s global offices with an incentive bonus for going above and beyond what was asked to implement diversity, equity and inclusion goals. Winners were nominated by their peers for notable efforts in, for example, encouraging unconscious bias training, or vacating a portfolio company’s board seat in favour of a qualified diverse candidate. The news was first reported by Bloomberg.
Beyond pay-outs, Carlyle has recently revamped DE&I efforts within the firm including an overhaul of promotion and hiring processes. Across private markets, initiatives are underway that are attempting to show investors that DE&I practices can result in better returns.