Since its foundation 23 years ago, Liberty has sought to make finance more inclusive and accessible for everyone. CEO James Boyle talks to MPA about the lender's initiatives to support inclusivity both in finance and the broader community it serves
Since day one, Liberty has been built on a vision of providing flexible solutions to help all sorts of customers achieve their financial goals – breaking down barriers and supporting financial inclusion. With one of the largest BDM teams of all Australian non-banks, Liberty is committed to providing the support brokers need to build their businesses; embracing diversity is critical to this process.
“As our business has grown, we’ve taken steps to broaden our solutions to help more customers,” says James Boyle, CEO of Liberty. “So now we have one of the most diverse and inclusive financial product sets in the market.”
Earlier in 2020, Liberty formalised this support by becoming the first non-bank lender to sign up to the Financial Inclusion Action Plan (FIAP). The FIAP program includes an agreed set of actions to support financial inclusion, wellbeing and resilience in Australia, and aligns closely with the company’s mission to help more people get financial.
“While the principles of financial inclusion are in our DNA, the wider principles of diversity and inclusion – in our workplace, for our customers and in the wider community – are vital to our business success,” says Boyle.
Just as there is no one-size-fi ts-all approach to its loan solutions, a diverse workforce enables Liberty’s employees to better place themselves in the customer’s shoes. Accordingly, Liberty is passionate about recruiting professionals from diverse backgrounds and cultures.
“Our people’s differences are an asset ... and we’re committed to catering to more voices and perspectives in our community” James Boyle, Liberty
“Our people’s differences are an asset,” says Boyle. “We acknowledge that we still have a way to go on our diversity and inclusion journey, and we’re committed to catering to more voices and perspectives in our community. We strive to create an environment where each person in our team feels seen, heard and comfortable to make their vital contributions.”
This commitment to diversity and inclusion isn’t limited to employment practices; as a business, Liberty feels a responsibility to improve the surrounding community by supporting and celebrating an increasingly wide range of experiences, preferences and heritage. It undertakes an extensive range of community initiatives to this end.
“We are committed to supporting women within the industry to reach their potential,” says Boyle. “This includes partnerships with Work180, Grad Girls and the Workplace Gender Equality Agency, as well as our in-house Women in Leadership workshops which empower our female leaders with support and education programs.”
“We know that major culture shifts rarely happen by chance. By investing the necessary time and resources, we believe we can make a real impact” James Boyle, Liberty
Liberty’s working parents and carers are supported by industry-leading parental leave and fertility support policies, as well as subsidised KidsCo educational childcare services (run virtually during lockdown).
“Our family and domestic violence policy has also been updated to provide up to five days of paid leave and a minimum of two days of compassionate leave for those who feel unsafe and in need of support,” says Boyle.
Liberty is the proud sponsor of the MFAA Opportunities for Women report, which has been running for the past three years, and has also introduced a number of initiatives internally to support greater inclusion.
“We host a range of cultural education initiatives featuring guest speakers from a variety of backgrounds, as well as ‘Around the Globe’ catered lunches featuring cuisines from all over the world,” says Boyle. “We also host a Liberty ‘World Expo’ where team members are invited to present their heritage to their peers and share some insights into their culture.”
He adds that the Liberty Pride Network celebrates and supports the company’s LGBTIQ+ community, and facilities have also been upgraded to better cater to all.
“Our leadership team undertake diversity and inclusion training, helping to increase awareness, understanding, knowledge and communication,” says Boyle. “This training empowers our leaders to further educate and be an example for their teams and foster an inclusive culture that is shared via interactions with our business partners. Whether it’s through a BDM, an underwriter or a service specialist, brokers can be assured that Liberty is always there to help guide them through complex situations and deliver positive customer outcomes.”
Boyle points out that diversity and inclusion aren’t “quick fix” projects.
“We know that major culture shifts rarely happen by chance,” he says. “By investing the necessary time and resources, we believe we can make a real impact on the lives of those within our network and help build a more inclusive and collaborative community.
To continue this trajectory, Liberty has committed to a number of formal arrangements to help guide the path forward. The company is working closely with Reconciliation Australia to create a Reconciliation Action Plan in support of building stronger relationships with Aboriginal and Torres Strait Islander peoples. Additionally, Liberty continues its partnership with the Australian Government’s WGEA. An even gender split has been achieved among team leaders, and the company continues to work towards reaching this balance across the business.
“We’ll continue to explore further training and education opportunities that we can offer our team members, and we consistently review our internal policies to ensure they align with our overarching mission,” says Boyle.
