PHP Agency Inc. is a tech-enabled national financial services marketing company with a compelling two-part vision: change the culture and diversity of the insurance industry and build the world’s largest financial services marketing company in history.
At PHP Agency, diversity, equity, and inclusion are core to our values and in-line with our long-standing commitment to represent the diversity of America within our organization.
“We are proud to share our FY 2020 DEI report,” said Patrick Bet-David, Founder and CEO of PHP Agency. “While many organizations are just now adopting a DEI strategy in the face of social pressure and news events, this has been the fabric of PHP’s culture from day one. Since inception in 2009, PHP’s mission has been to diversify the life insurance industry as we serve the American middle class and provide an opportunity to anyone regardless of their race, gender, or background. We continue to champion diversity efforts and inclusivity in the life insurance industry and lead by example along the way.”
In an industry that has been historically male-dominant, PHP Agency continues to lead the growth of the number and percent of women succeeding as life insurance professionals as over 51% of its agents are women. PHP’s goal is to continue to build and attract the future leaders of the life insurance industry and believe that its inclusive environment correlates to the success of its agents while increasing diversity in the industry.
“The possibilities are endless when you work in an environment where the last thing you have to think about is the color of your skin or your gender” says Sheena Sapaula, Board Council and top producer at PHP. “From my very fist day, I have been able to thrive as a minority woman in one of the most prestigious industries thanks to PHP.”
Transparency is critical for PHP Agency as it is the only way to truly track progress year-over-year. The insurance industry at large has come quite a way towards creating a more diverse and inclusive environment for workers. However, the work is long from done. While numbers show that the number of women and people of color are increasing within the industry, there is still a gap when it comes to senior leadership positions. PHP Agency is committed to filling senior leadership positions with the most qualified candidate – regardless of their gender, race, or religion.
In order for the entire financial industry to reach a true level of equality, there not only needs to be transparency in regard to the makeup of the staff, but an inward audit of the past. This is true of any industry. There has been a built-in advantage for Caucasian men in the workplace and the voices of women and people of color were not always held in the same regard. The only way to avoid making the same mistakes of the past is to acknowledge they were made and ensure that the same mistakes do not continue. It is not enough to have a diverse staff; the diverse staff needs to be treated as equal.
Leadership must set the tone for equality. Not all acts of inequality are done consciously. Consider for a moment a woman in a meeting room who has an idea. The idea is shared and considered, and more ideas are asked for. A man then shares the same idea as the woman at a later point and receives the credit. This is the type of scenario that used to be commonplace. It is up to leaders to recognize these situations and ensure that all staff feels valued and important to overall company success. When the playing field is truly even, employees with the most drive for success will be that much easier to spot.
When organizations recognize that they have work to do when it comes to diversity in their workplace, they should have their HR department look into diversity and inclusion training. This type of training is not only necessary for senior management but can prove quite beneficial for members at all levels of an organization. Knowledge is power and everyone must have a clear sense of what diversity and true inclusion looks like.
Placing an emphasis on diversity in the workplace is not only the right thing to do from an ethical standpoint, but also a way to attract and retain the top talent in the industry. America’s demographics are changing, and we are mere years away from what is now consider the minority of people becoming the majority. The talent pool grows more diverse by the day and organizations that show that there’s equal opportunity for all will have an easier time attracting talented minorities as well as retaining those who know that their hard work can lead to a senior level position when the need arises.
Financial service companies with a diverse staff have an advantage over their competitors because they are able to gather the perspectives of people that come from different backgrounds. Humans will have blind spots to certain needs because they didn’t share the same life experience as others. A diverse staff can help clear up these blind spots and ensure that the needs of all customers are being considered when making business decisions.
Commitments: PHP is proudly committed to its original mission to increase diversity in the life insurance industry and will publish its DEI survey annually.