MassMutual’s D&I Journey: A Holistic Approach to Change

S E P T E M B E R 1 9 , 2 0 1 9

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Who We Are

Natalia Arbulu

Diversity Consultant

MassMutual

Peggy Nagae

Chief Operating Officer

White Men as Full Diversity Partners (WMFDP)

Mary-Frances Winters

Chief Executive Officer

The Winters Group, Inc.

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A Purpose that Unites Us –

We help people secure their future and

protect the ones they love.

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Our Story Began in Springfield, Mass. –

•Founded in 1851

•Mutual company that operates for the

benefit of its members and participating

policyowners

•Approximately 7,5001 employees

nationwide

•National network of nearly 8,800 advisors

in 82 firms1

1 As of Dec. 31, 2018

About MassMutual

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4

$5.3 billionin insurance and annuitybenefits paid in 2018

$1.72 billiondividend payout in 20191

Estimated

$14.7 billion

Ranked #84 on the FORTUNE 500®3

1 Dividends paid to eligible participating policyowners. Dividends are not guaranteed.

Will have paid more than

3 FORTUNE and FORTUNE 500 are registered trademarks of Time Inc. and are used under license. From FORTUNE Magazine, June 1, 2019. ©2019 Time Inc. Used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of MassMutual.

5.6 millioncustomers

in dividends since 20102

2 Includes 2019 estimated dividend payout.

A Mutual Company Dedicated to Its Policyowners & Customers

Video

Our D&I Journey

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The Milestones

2008-2011:

Laying the

foundation

Created D&I strategy with

Executive Team

Evaluated against

competitors and best-in-

class organizations

First two Employee

Resource Groups (ERGs)

Required D&I foundational

education for managers

2015-2017:

Accelerating our

progress

Engaged Winters Group and

White Men as Full Diversity

Partners for intensive learning

labs for 180+ senior leaders

D&I included in company

performance metric; shared

workforce demographics

with employees

External assessment of D&I

practices

ERGs evolve to Business

Resource Groups (BRGs)

2012-2014:

Elevating our

practices

Elevated D&I metrics and

transparency for senior

leaders

Refreshed strategy with

focus on cultural

competence, inclusive

leadership, and greater

accountability

Reached 8 ERGs

2018+:

Deepening our

impact

Inclusive benefits

Integrated HR solutions

Building leader D&I

capabilities pilot:

providing D&I

education/tools,

focusing on pipeline,

and cascading

accountability

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Our Approach to Diversity & Inclusion

Transformative Learning

Leader Partnership

& Alignment

Metrics & Transparency

Accountability

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A Strategic Approach to D&I

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Denial

Polarization

Minimization

Acceptance

Adaptation

What is the IDI?

The Intercultural Development Continuum

2.4%

13.5%

68%

2.4%

13.5%

Equality vs.

Equity…

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How Do We Get There?

Developing Cultural Competence

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Self Understanding Understanding one’s “cultural”

self

Other Understanding Understanding other

cultural norms, values and beliefs

Bridging SkillsLearning to be culturally

adaptive

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Cultural Competence 4E ModelTM

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Examining Insider CultureThe water some live in and never have to leave.

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Impactful, Transformative Learning

The water some live in and never have to leave.

The water some live in and never have to leave.

Examining Insider/White Male Culture

Inclusion is making the mix work

Diversity is the mix - all the ways we are different.

Inclusion = Belongingness x Uniqueness

8 Critical Leadership Skills

1. Courage

2. Integrating Head and Heart

3. Leveraging Ambiguity and Turbulence

4. Listening

5. Balancing Key Paradoxes

6. Managing Difficult Conversation

7. Seeing and Thinking Systemically

8. Being an Agent of Change

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Results for Leaders

• New skills to lead and participate in difficult

conversations

• Discovery of Insider group’s self-interest in doing diversity work

• Heightened awareness of privilege and workplace inequities,

including male, white, heterosexual and other privileges -

without blame

• Greater understanding about the experience of outsider

• Greater awareness about habitual, unconscious biases

• Shared commitment and partnership across difference

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Denial

Polarization

Minimization

AcceptanceAdaptation

Original

Retake

Intercultural Development Continuum

2017 Retake

150%increase in

leaders at

Acceptance

or Adaptation

Monocultural

Mindset

Intercultural

Mindset

Developing an Inclusive Organization

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Percentage point increase

Voluntary self-ID: individuals with a disability, LGBTQ, veterans

2.8%

6.4%

2.9%

6.4%

2011-2014 2015-2018

POC POC leaders

People of Color (POC)

+ +

+ +

1.3%

4.1%

2013-2014 2015-2018

Accelerated Workforce Diversity

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Our Holistic Approach

Transformative Learning

Leader Partnership

& Alignment

Metrics & Transparency

Accountability

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● Ongoing focus on mindsets, behaviors and

accountability

● Provide support through continued education and tools

● Complete Building Leader D&I Capabilities Pilot, assess

overall results and recommend next steps

● Reassessing cultural competence for leaders (2020)

Building on Our Results

© 2019 Massachusetts Mutual Life Insurance Company (MassMutual®), Springfield, MA 01111-0001. All rights reserved. www.MassMutual.com