Member Perspective: Varsovia Fernandez

The Chamber of Commerce for Greater Philadelphia strives to develop and encourage best practices that benefit our Members through our Diversity & Inclusion Initiative.

Guest Commentator: Varsovia Fernandez, Senior Vice President and Philadelphia Market Leader, Customers Bank

As Chair of the Chamber’s Diversity & Inclusion Committee, what perspective can you provide on why diversity and inclusion is paramount to business performance?

Since diversity and inclusion are values I’ve practiced throughout my life as a matter of conviction, it is only natural I found myself working for organizations that innately value their employees, clients and vendors with diverse backgrounds and experience. At Customers Bank, diversity is paramount to our business performance simply because clients and team members are the reason we exist; making it most important to cultivate a diverse and inclusive environment that captures cultures, learning preferences and talent.

Knowing this, my day job at Customers Bank translates easily into my role on the Chamber’s Diversity & Inclusion Committee, where I serve as Chair.

Part of the Chamber’s Diversity & Inclusion Initiative (D&I) and Board of Directors, the D&I Committee is tasked with addressing diversity and inclusion issues within the Chamber, its member companies, and the regional business community. We provide solutions and support the Chamber’s meaningful D&I program of work.

Diversity and inclusion are proven to be practices companies must adopt not only to survive, but also thrive above their competitors. For instance, the 2015 McKinsey Diversity Matters report found that out of the 366 public companies studied, those with the most diverse management were 35% more likely to have financial returns above the industry mean. And despite the fact that women only hold 20% of executive-level positions, companies with gender diversity are more innovative and perform better financially, according to Mercer’s When Women Thrive, Businesses Thrive executive summary 2016. The case has been made that diversity and inclusion are not simply moral standards, but also imperative to business performance.

The D&I Committee aims to further this vision through the Chamber’s diversity and inclusion programs this year, which focus on three key growth areas for businesses: workforce, workplace and marketplace.