Among the top barriers to Granite State business growth is staffing. The 2024 Business Leaders Survey by the Business Industry Association and the Center for Ethics in Society at Saint Anselm College polled 500 business owners, with 75% saying that New Hampshire’s worker shortage was keeping them from expanding their operations.
Since its founding, 603 Diversity has been supported by businesses and nonprofits that know investments in diversity, equity and inclusion pay off. At a time when companies may be struggling to fill roles, DEI practices ensure that no candidate is overlooked because of their age, disability or identity. Those policies also help to retain staff and give them tools to succeed in their roles and work well with their colleagues.
The adoption of DEI practices can also bring in more customers. Surveys show that 60% to 75% of consumers say a business’s diversity and inclusion reputation is important to purchasing decisions.
DEI: A central part of company culture
In this new Inclusive Workplaces section, 603 Diversity will highlight how New Hampshire businesses are putting diversity practices to work.
New Hampshire Mutual Bancorp is a shared services organization for a trio of banks — Meredith Village Savings Bank, Merrimack County Savings Bank and the Savings Bank of Walpole — and NH Trust, an investment management firm.
Tamara Richardson, senior vice president of human resources and DEI officer, has been with the company for 29 years, first as part of the Savings Bank of Walpole and then with NH Mutual Bancorp. She said that NH Mutual Bancorp had begun its DEI in 2019.
“Before the George Floyd murder happened, we were already working on it,” Richardson said. “Then, after that tragic injustice occurred, we started focusing our efforts even more on DEI.”
NH Mutual Bancorp has seven A+ Merits, or values, that the company has adopted as part of its culture. She said that they started with those merits in bringing DEI to the forefront.
“We feel that a company that embraces DEI was one that would not only prosper but would be resilient in the face of changes in the years that were coming,” Richardson said. “We felt, and we still feel, that when you ensure that you have diversity, equity and inclusion in your organization, it fosters a work environment where employees can come as who they truly are and feel welcomed coming to the workplace.”
These values encourage all employees to bring ideas to the table and work as a team for the betterment of the whole company.
“Our DEI program has always been fully supported by our senior leaders of the organization and also our board members,” Richardson said. “DEI is actually an initiative in our strategic plan at the organizations and the NHMB holding company level.”
Learning at all levels
DEI training is held regularly for all levels of employees, from newcomers to managers to senior leadership and board members. A DEI overview presentation is part of its new employee onboarding process.
“It really set them up with a solid foundation of just what it was, and how our organization supports a culture where everyone can come to work and feel welcomed,” Richardson said.
About three years ago, a DEI Advisory Committee formed comprised of volunteers from different positions and departments across NH Mutual Bancorp’s companies.
“It’s a very robust group,” Richardson said. “We’re very lucky to have such a dedicated group of employees.”
Two employee resource groups have come from the advisory committee’s efforts: one for caregivers and one for mental health and well-being.
“This allows employees within the organization to come to a place where they feel safe and they can get support from one another,” Richardson said. “They’re sharing the same experiences with each other, and so it’s very helpful to them. Those have been very popular.”
The company is planning to add a third group this year.
NH Mutual Bancorp’s companies have started a teller apprenticeship program that’s certified by the New Hampshire Department of Labor. It’s the first apprenticeship program in the state for a bank teller.
Richardson said they consider the apprenticeship part of the DEI efforts as it allows them to get out into the schools and colleges and help attract people from diverse backgrounds to work there.
Richardson herself completed a four-week inclusive workplace training through the Society for Human Resources Management.
“We explored techniques on how to measure an inclusive workplace and how to apply strategies that foster it,” she said. “It was very helpful. A lot of the things were things we were already doing and we already knew about, but it just reinforced what we thought we were doing. It confirmed that we were on the right track to make sure that inclusivity was at the forefront of our DEI program.”
Building on growth and opportunities
Last year, NH Mutual Bancorp received recognition for its DEI efforts from the Workforce Diversity Coalition. At that point, 1.9% of its employees identified as Hispanic or Latino, an underrepresented group. By the end of 2024, Richardson said that had risen to 2.4%.
“So not big, but it’s certainly moving in the right direction,” Richardson said.
New Hampshire’s overall state population is comprised of 4.8% Hispanic or Latino residents.
NH Mutual Bancorp does an annual DEI employee survey to measure progress and identify areas of success and improvement.
In the 2024 survey, she said there was an 81% favorability response to “workforce diversity is valued at our organization.”
“I would say that the employee survey is very important. It helps us to see where we are and where we need to go, where we need the extra help,” she said. “We can always strive to be better at including everyone.”
Richardson said that, while there’s been pushback nationally on DEI efforts, what she’s been hearing internally has been the opposite.
“We’ve had a handful of employees who have reached out and said, ‘What’s going to happen here? I love the diversity, equity, and inclusion efforts, and feeling like I belong here,’ ” Richardson said. “There are some employees who are worried we may go in a different direction, and that’s not the case.”
The overall goal is to create a shared sense of belonging for employees so that NH Mutual Bancorp and its companies are where people want to work.
“We really do listen to our employees,” Richardson said. “We recognize that diverse contributions are valued here.”
This article was featured in 603 Diversity.
603 Diversity’s mission is to educate readers of all backgrounds about the exciting accomplishments and cultural contributions of the state’s diverse communities, as well as the challenges faced and support needed by those communities to continue to grow and thrive in the Granite State.
