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Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.
Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.
Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.
Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.
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To be engaged, you must feel included and valued. We are striving for an environment where people are proud and passionate to be a part of a team where their sense of belonging transcends any position, role or background. Different ideas, perspectives and experiences create a stronger and more innovative work environment. We strive to be unified in a shared commitment to empower, support and include all.
ONE PEOPLE Strategy
Over the last few years, our ELEVATE group and HR team members have worked closely together to create a ONE PEOPLE Strategy. This means that the 7 core elements of our ELEVATE strategy (Alignment, Design, Capacity, Communication, Learning, Engagement, and Support) are now integrated into the 5 focus areas of our People Strategy:
Our People function – engagement and communication
Talent Acquisition and Retention – hiring & retention strategies
Leadership & Development – firm training and development
Recognition – acknowledgement
Diversity, Equity, & Inclusion – how we ELEVATE the entire firm In each of these focus areas, we will highlight the programming, engagement, and activities we have completed in 2022.
Our People Function
In December 2021, we launched our new Parental Leave policy, resulting in many employees using this benefit, specifically men. In fact, more men than women used this benefit in 2022. We hope to see many more employees use this benefit to create balance in their lives going forward.
We also made structural changes to our short-term disability policy, opting in every new employee instead of making them select it which can result in employees not getting this critical benefit.
To create and maintain momentum, we grew from 3 to 8 team members dedicated to our People in our HR function, enabling more DE&I resources for planning and execution of programs and activities.
Talent Acquisition and Retention
Job Postings
First, we further updated the inclusion job posting language included on every job posting:
“Don’t meet every single requirement? At Richey May we are dedicated to building a diverse, inclusive, and authentic workplace; so, if you’re excited about this role but your experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyways. You may be just the right candidate for this or other roles.”
We also began using a new tool to filter postings that analyzes the language for bias and helps us rewrite them to make them more effective.
Increasing Diverse Sourcing Practices
To source non-traditional employees, we expanded our use of platforms such as the Mom Project for experienced hires and Handshake for on-campus recruiting. Another innovation has been our geographic expansion to 36 states, which enables us to source candidates we may not have been able to source in the past.
Leadership & Development
Programs
2022 also marked the launch of three core programs enabling our ability to foster inclusivity and diverse growth:
MentorU
This support system creates opportunity for relationships across the firm and enable an advocate for an employee, including knowledge sharing and individual guidance throughout their career at Richey May.
IgniteU
This program supports new hires as they embark on their career at Richey May and creates belonging and support through a unique mentorship relationship.
Summer Leadership Experience (SLE)
This new program is great opportunity for college students to discover more about Richey May and what makes us so special. By invitation only, it is structured to give attendees a mix of leadership training, personal development, firm education and culture, networking, and teambuilding events. Unique from other firms, we expanded to business-related degrees, not just accounting, resulting in a waitlist for this inaugural event. Participants also collaborated and presented to firm leadership about growth strategies for the future.
Trainings
In 2022, we also increased our training programs and capacity, resulting in many more participants learning how to increase inclusion and diversity into their work at Richey May. The training calendar included:
Recognition
We will continue to communicate internally via the ASCEND newsletter and the Annual Letter and externally via the website and social channels to recognize the efforts made by our employees to create a more inclusive workplace. In addition, we will continue to work with associations and third-parties to participate in events that recognize the efforts of the communities we participate in. An example of this is our continued participation and sponsorship of the mPower event with the Mortgage Bankers Association Accounting and Financial Management Conference.
Diversity, Equity and Inclusion
New language has been identified for inclusion in core competencies by role in job descriptions which will describe the appropriate skills needed to foster inclusivity. This is currently being deployed into Alternative Investments; other Service Lines will see these updated job descriptions throughout 2023 on a rolling basis.
The language included will be:
All Employees Up To Manager:
Richey May & Co. is an Equal Opportunity Employer, and as such diversity, equity and inclusion is an important part of our culture. In conjunction with our Elevate Initiative, employees will commit to understand dimensions of diversity, equity and inclusion and demonstrate inclusive and collaborative behavior while working at Richey May. Richey May is committed to building ethnically, generationally and gender-diverse teams. Employees are encouraged to respect cultural and experiential differences between these groups.
Managers and Senior Managers:
Richey May & Co. is an Equal Opportunity Employer, and as such diversity, equity and inclusion is an important part of our culture. In conjunction with our Elevate Initiative, employees will commit to understanding dimensions of diversity, equity and inclusion and demonstrate inclusive and collaborative behavior while working at Richey May. Richey May is committed to building ethnically, generationally and gender-diverse teams. Employees are encouraged to respect cultural and experiential differences between these groups. Employees at this level should continuously learn and model inclusive behavior and lead by example to build a welcoming environment at Richey May, as well as recognize the responsibility to foster, promote, and support diversity and inclusion.
Directors and Above:
Richey May & Co. is an Equal Opportunity Employer, and as such diversity, equity and inclusion are an important part of our culture. In conjunction with our Elevate Initiative, employees will commit to understanding dimensions of diversity, equity, and inclusion and demonstrate inclusive and collaborative behavior while working at Richey May. Richey May is committed to building ethnically, generationally, and gender-diverse teams. Employees are encouraged to respect cultural and experiential differences between these groups. Employees at this level should continuously learn and model inclusive behavior and lead by example to build a welcoming environment at Richey May, as well as recognize the responsibility to foster, promote, support, and drive diversity and inclusion.
Our People Function
To continue to attract, engage, and retain talent, we plan to continue launching micro-surveys and enhance those with an Annual People Survey to understand our employee’s current state over time.
In addition, there will be an increased focus to communicate more about ELEVATE in employee-focused forums like social media, A Day at Richey May (intranet site), and on our website.
Talent Acquisition and Retention
We will continue to expand our sourcing diversity and inclusion efforts, developing new relationships and avenues to source non-traditional employees.
Leadership & Development
ELEVATE will become more structured with the Board, Impact Councils (ICs), and Employee Resource Groups (ERGs) to promote more participation, amplify voices, and create a shared understanding from a broader range of stakeholders in 2023.
We will launch our first Employee Resource Group (ERG) in 2023 and this group’s immediate goal is to host two additional Mental Health First Aid training in 2023. In 2020, 17 employees went through this training to understand the signs of mental illness and respond with resources.
https://www.mentalhealthfirstaid.org/
The Partners are committed to supporting individual involvement as the ERGs and ICs begin to take formation fostering enhanced participation and commitment across the firm. We will continue to incorporate diversity, equity, and inclusion concepts into our leadership training curriculum along with launching short, on-demand video training via our Learning Management System The goal is to create more frequent touch points with employees to develop core competencies more readily.
Recognition
We will be launching a recognition program across the firm to indicate those employees who have gone above and beyond in their commitment to supporting ELEVATE and the firm (Recruiting, RM Cares, Mentors, etc.), including recognition in the Annual Letter for those that have made ELEVATE contributions.
Diversity, Equity, and Inclusion
As mentioned above, we will continue the efforts to update job descriptions, providing more clarity on expectations and explicitly state the responsibilities we all share to make a more diverse and inclusive firm. There will also be improvements to the onboarding process to educate new hires on ELEVATE to garner more awareness and participation from the moment of hire.