The company’s DEIB strategy is more than a set of initiatives; it is a cornerstone of its corporate identity, driving innovation, employee satisfaction, and community impact.

Fostering a Workplace of Belonging and Inclusion

At Eastern Funding, DEIB is a foundational element of its culture, influencing every aspect of its operations. The leadership team prioritizes creating a workplace where employees feel a genuine sense of belonging, reflected in shared language, inclusive engagement norms, equitable recruiting practices, career development opportunities and connection-building. For over a decade, the company has consistently refined and expanded its efforts, ensuring that these principles remain a central focus.

Innovative Approaches to Achieving Meaningful Diversity

Eastern Funding recognizes that achieving meaningful diversity requires innovative approaches. It has implemented diverse hiring panels, unconscious bias training, and partnerships with historically Black colleges and universities (HBCUs) and other minority-serving institutions. These efforts have broadened the talent pipeline, ensuring equitable opportunities for underrepresented groups, including gender, ethnic, racial, LGBTQ+, and differently-abled individuals.

Emphasizing Equitable Compensation and Vendor Diversity

In addition, the company emphasizes equitable compensation by conducting routine pay analyses and fostering leadership diversity. This commitment extends to their vendor relationships, where they actively seek quotes from minority-owned businesses.

Investing in Employee Well-Being and Psychological Safety

Investing in the well-being of employees is another hallmark of Eastern Funding’s DEIB strategy. The company promotes psychological safety by providing training on navigating difficult conversations and managing high-stress situations. Through its “Fundamentals” program, core behavioral norms encourage respectful communication, safe language, and collaboration. This approach creates an environment that inspires innovation and empowers employees to contribute their best.

Overcoming Challenges to Build a Robust DEIB Framework

Eastern Funding acknowledges the challenges in implementing DEIB initiatives, particularly gaining leadership buy-in during the early stages. However, the company has successfully surmounted these obstacles by fostering a leadership style characterized by vulnerability, authenticity, and a servant-leader mindset. This commitment has translated into a robust framework that continues to evolve with the organization.

Measuring Success Through Feedback and Retention

Success in DEIB initiatives at Eastern Funding is measured through various methods, including employee feedback, anonymous surveys, and retention statistics. These insights help the company identify areas for improvement and ensure that its efforts remain impactful and meaningful.

Actionable Advice for Organizations Elevating DEIB Efforts

For organizations striving to elevate their DEIB efforts, Eastern Funding offers sage advice: invest in resources, identify DEIB champions, and ensure that these principles are deeply ingrained in the company culture. The emphasis should be on actionable steps, not just forming committees, to drive lasting change.

Setting a New Standard in the Equipment Finance Industry

Eastern Funding’s unwavering commitment to diversity, equity, and inclusion sets a high standard in the equipment finance industry. By fostering an environment of belonging, innovation, and respect for all, the company not only enhances its organizational culture but also positions itself as a trailblazer in the DEIB space. Its initiatives serve as a blueprint for other companies aiming to make meaningful strides in this critical area.