Championing Gender Diversity at LendingClub
At LendingClub, the success of our diversity and inclusion efforts hinges on the contributions of every LCer. Every employee is vital in helping to create a culture of inclusion and acceptance, where differing opinions are valued and all voices are heard. We diligently invest in creating a work environment where people of all backgrounds and experiences are welcomed and respected.
With that said, we are proud to share that LendingClub has been included in Bloomberg’s Gender-Equality Index for the second year in a row. The 2020 Index represents 325 global companies, 117 of which are financial companies, that are honored for their tangible commitments to gender equality in areas like female leadership, talent pipelines and equal pay and gender pay parity, among other factors. The Gender-Equality Index is comprised of companies from 50 industries, headquartered across 42 countries and regions, that are setting an example to advance women in the workplace through measurement and transparency.
While there will always be more room for improvement, reaching this achievement two years in a row is a testament to our continued efforts to elevate voices in the workplace while ensuring our workforce reflects the broad range of customers we serve.
We’ve worked hard to make sure our executive team and board of directors are diverse in terms of gender, ethnicity, and industry backgrounds, and we currently have three women serving on our executive team and two women on our board of directors. We have an active internal women’s network led by our Chief Capital Officer and Chief People Officer that focuses on development, mentoring, and recognition programs. We also offer a yearly women’s leadership development program since 2018 to ensure our high-potential female employees have the tools and support they need to advance their careers with LendingClub. To provide some perspective on the tremendous impact of this program, we’ve seen an 80% retention rate among all participants, and 69% promotion rate from our first cohort.
Empowering employees to evolve LendingClub
At LendingClub, we strive to do what’s right, not only for our members, but also our employees.
One way in which we support and encourage diversity and inclusion of all team members is via team-oriented initiatives like Employee Resource Groups (ERGs). These aren’t just social networks—ERGs are company-recognized groups of employees who share common backgrounds and interests and engage in activities that support our values, culture, and business goals. Each ERG is sponsored by an Executive.
We have a robust collection of ERGs across our San Francisco, Lehi, and Westborough offices—these groups include:
LC Women’s Internal Network (LCWIN)
LC Out Network (LC ON)
LC Veterans Network (LC VETS)
LC Asian American & Pacific Islanders Reaching for Excellence (LC AsPIRE)
LC In The Black (LC ITBN)
LC Society of Trust and Respect (LCSTAR, our Jewish Network
LC Latinx Advancement Network (LCLAN)
While LendingClub is committed to transparency and advancing diversity in leadership roles, we want to do much more. To that end, we’ve developed the Ally program, designed to empower male LendingClub senior leaders to advocate for growth of female employees at all levels and help further our goal of building a more diverse and inclusive workplace. The Ally program offers an opportunity to step up as agents of change not only at LendingClub, but in the broader scope of finance and tech by advocating for the advancement of women into leadership roles. By developing women at LendingClub, we are also aligning our priorities with our customers, over half of whom are women.
LendingClub also partners with notable D&I-focused organizations that enable us to expand on our goals to attract and retain talent, and benchmark ourselves against industry best practices such as Women in Fintech, AfroTech, Grace Hopper, Mom Project and the CA Pay Equity Task Force.
Sourcing diverse talent
For our open roles, we strive for a 50% diverse candidate and interview slate. We also provide training and resources for hiring managers and interviewers on ways to mitigate unconscious bias in all stages of the hiring process, which can help provide a consistent candidate experience.
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