Forward Financing, Boston, MA: Forward Financing

Company: Forward Financing, Boston, MA
Company Description: Forward Financing is a Boston-based fintech company that provides fast, flexible capital to small businesses that have often been underserved by traditional financing options. All businesses deserve access to the support they need to succeed, and we are building advanced technology and a best-in-class team to transform the small business financing industry.
Nomination Category: Achievement Categories
Nomination Sub Category: Achievement in Diversity & Inclusion
Nomination Title: Forward Financing

1. Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated organization's customer satisfaction achievements since the beginning of 2020, OR written answers to the questions? (Choose one):

   Written answers to the questions

2. If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video:
    
3. If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization's history and past performance (up to 200 words):

   Total 197 words used.

   Forward Financing is a Boston-based fintech company that provides fast, flexible capital to small businesses that have often been underserved by traditional financing options. All businesses deserve access to the support they need to succeed, and we are building advanced technology and a best-in-class team to transform the small business financing industry.

   Since 2012, Forward has provided over $1.3 billion in funding to more than 32,000 businesses. The company is A+ rated by the Better Business Bureau, with an ‘Excellent / 4.9 stars’ rating on Trustpilot.com. Forward was named a Best Place to Work by the Boston Business Journal and Built In Boston and has been named by both Inc. magazine and the Boston Business Journal as one of Massachusetts’ fastest-growing companies each year since 2017.

   Forward is on a mission to enable our people to reach their full potential, and to be successful, we actively promote a focus on diversity, equity, and inclusion. We are committed to cultivating a workplace where trust and respect are paramount, and all employees feel valued, heard, and accepted. By embracing diversity of thought, background, and identity, we continue to become a stronger team and a better organization.

4. If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):

   Total 246 words used.

   • Established a hybrid work environment that gives employees the autonomy to work from home, in the office, or a combination of both.
   • Created a DEI Employee Group in 2020: collected employee feedback to restructure the group for 2022. The group focuses on active discussion and learning of a variety of DEI topics. 
   • Hosted 12 workshops, coffee chats, and speakers on a variety of DEI topics.
   • Hosted a Women’s Forum for all women-identifying employees, focusing on self-advocacy. 
   • Collected anonymous employee feedback on DEI efforts through annual and pulse surveys.
   • Partnered with Year Up and The Mom Project to source diverse talent and implemented Textio to help eliminate bias from job descriptions.
   • Standardized interview processes across roles to ensure an equitable experience; rolled out inclusive training materials, and adopted a “Culture Add” mindset. 
   • Implemented a Professional Development program that provides all employees $2,000 annually to spend toward career development. Since the program launch, over $21,000 has been used by employees for their development. 
   • Launched an Internal Mobility Program to give high performing employees opportunities for internal roles that are aligned with their longer term career aspirations. Since the program launch, 12 employees have successfully transitioned into new roles.
   • Increased our Parental Leave policy to 8-weeks of paid leave for new parents, regardless of gender. 
   • Implemented paid leave for those who experience pregnancy loss, stillbirth, or failed adoption, surrogacy or fertility treatment.
   • Supported underserved communities and organizations, donating over $80,000 in combined company and employee donations. 

5. f you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):

   Total 249 words used.

   We have worked to truly embed DEI into a part of everyday culture. We provide a variety of opportunities for employees to engage in DEI content and prioritize creating programs that are truly inclusive in meeting individual needs rather than adopting a one-size-fits-all approach. Additionally, we added an inclusivity behavioral component to our annual performance reviews, demonstrating to all employees how committed we are to building a safe and inclusive work environment.

   The pandemic pushed many employers to shift to a flexible work environment, but we’ve continued to see them outline requirements on where employees can work. Instead we’ve moved to an employee-focused model that gives our team the autonomy to find a work environment that best fits their individual needs and sets them up for success. 

   Similarly, many companies separate parental leave based on gender or caretaker responsibilities. We recognize that every household is different, and provide equal paid leave to all employees who welcome a child. We also recognize that pregnancy loss, while common, is not often addressed through specific benefits at work. By implementing paid leave for those who experience pregnancy loss, we’re providing employees time to take care of themselves, mentally and physically, without the need for explanations. 

   Programs such as Professional Development have helped remove the cost barrier for employees when looking for opportunities to develop their skills. Employees are also highly encouraged to explore other career opportunities internally, which helps them to continue to grow their career in areas of interest to them.

6. Optional: Reference here any attachments of supporting materials throughout this nomination and explain how they provide evidence of the claims you have made in this nomination (up to 250 words):

   Total 89 words used.

   Attached please find our 2021 Diversity, Equity & Inclusion (DEI) report which covers our nomination responses in more detail. The report was shared with all employees in January of 2022 and posted to the company’s internal employee resource shared drive. We have shared the DEI report to new hires and potential candidates as well, to encourage ongoing engagement and participation in discussions around DEI topics. 

   We have also attached policy documents for our Professional Development and Internal Mobility policies. These outline program benefits, requirements, and next steps for employees.

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