Kayla Moloney
Gabrielle Lucas
Tanya Afridi
St. John's University
Charles Wankel
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Fidelity Investments is an American multinational financial services corporation that is based out of Boston, Massachusetts. It is commonly referred to as Fidelity but was previously called Fidelity Management & Research or FMR. It operates a brokerage firm, manages a large family of mutual funds, and provides fund distribution and investment advice. It also offers retirement services, index funds, wealth management, among many other things. In 2020, Fidelity won Investopedia’s Best Overall for Beginners award, Best Stock Trading Apps, and Best for Options ranking. Fidelity Investments strives to promote gender equality and women's rights.
Fidelity Investments advocates for gender equality and women. They understand that society has not always provided equal opportunities for males and females. Employers understand that finance is a predominantly male industry, so they do their best to hire the best candidates, selecting whoever is best fit for the job regardless of gender. This is the reason that Fidelity offers individual programs to women to ensure that their needs are being met. For example, one program is called the Fidelity Women’s Leadership Fund (FWOMX). This fund invests in companies that prioritize and advance women’s leadership and development. It invests at least 80% of assets in equity securities of companies that advocate for women. Another program is called the Fidelity Women’s Leadership ETF (FDWM). ETF’s are subject to management fees and other expenses.
The inspiration for this innovation comes from Fidelity taking strides to raise awareness about gender equality in the workplace since many women do not have equal opportunities. In the past 10 years of data, Fidelity has found that companies that had an above-average representation of women in their management team and had diverse policies in the workplace outperformed companies that did not. Fidelity made it their mission to support and invest in companies that focused on women's equality in the workplace. On top of promoting equality within their own company, they strive to implement equality in all companies. Fidelity Investments noticed that not enough companies cared and focused on their female employees, and therefore, they decided to make positive changes to the work industry.
During the interview, Alex, Financial Representative, explained that all employees are offered the same opportunities which promotes equality. He stated, "We definitely offer the same opportunities to everybody no matter the gender, we always try to be inclusive and try to make sure that we are hiring all types of people. I know that finance can be a predominantly male industry so I know we always do our best to strive to get all types of candidates whoever is the best fit for the job no matter if it is about gender or race." Seeing the lack of gender equality inspired this company to advocate for their employees and inspire other companies to do the same by investing in them.
The overall impact of Fidelity Investments is its mission to invest in companies with women in senior leadership roles and commitment to gender diversity. This company’s main goal is to help raise awareness and promote gender equality for all in the workplace. By investing in companies that advocate women it allows them to grow and further their expansion for equality. Another reason to invest in these companies is to have better benefits for men and women. Benefits include more weeks of maternity and paternity leave, more commitments toward equal pay, and more flexible work environments. These benefits can create a better work environment for everyone. Since Fidelity has invested in companies that advocate for gender equality it has started a chain reaction for other companies to advocate as well since there is a financial incentive of investment from Fidelity. Fidelity Investments has impacted many companies because of its innovative ideas to promote gender equality.
Through this innovation, Fidelity Investments will grow and brand awareness will increase. Since this company puts a large emphasis on gender equality, customers and other businesses will be more likely to follow in their footsteps. This company is leading to a turning point in the business industry. As Alex stated finance is male-dominated, therefore, emphasis on gender equality is extremely important. Fidelity Investments has an increase in women leaders because they are highly respected in their workplace. Women want to work for this company because of the equal opportunities they provide. They also provide women programs which most companies do not do. These are several benefits of supporting and emphasizing gender equality, more clients and future employees want to work for a company that has that mission.
This innovation has many social benefits. Investing in companies where they also promote gender equality and advocate for women is extremely important because it will help women break the societal standards that are in place. Fidelity leads by example and hopefully more companies will follow suit and promote change. This company believes that it is vital for employees to feel respected and valued, they also believe it is important to collaborate with other companies who share the same values.
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