Creating inclusive workplace cultures yields a number of benefits for both employees and employers. A body of research has found that organizations that welcome and create opportunities for people of varied races, ethnicities, genders, sexual orientations, abilities and other varied backgrounds and life experiences also have greater employee satisfaction, productivity, morale and overall well-being. Inclusive workplaces tend to have less turnover and greater revenue growth, according to Great Place to Work, a nonprofit organization specializing in workplace culture.
When Eboni Preston-Laurent took on the role of ELFA’s Director of DEI, she knew the importance of creating such environments, both within ELFA and its membership. So, she began learning about what the association had been doing to attract a bigger and more inclusive talent pool and create a sense of belonging that would be a source of strength for the industry.
“I wanted to listen, learn and understand more about the association, and all the work that we were doing in the people power space,” she says.
As a result of the resulting research and discussions, Preston-Laurent and ELFA leadership have made some important changes to bolster some of the industry’s longstanding goals, especially those related to attracting and developing the best talent. Recently, ELFA announced the Power of People Summit 2025, which will take place July 21-22, 2025, in Baltimore, Maryland. The event will include two days of programming, innovation and collaboration of interest to all industry professionals. The summit will focus on fostering leadership, empowerment and professional development within the equipment leasing and finance industry.
A New Approach to Important Goals
In conjunction with the summit, ELFA has also announced the formation of the ELFA Inclusion Committee to support the association’s commitment to creating an industry environment where all individuals can thrive. The Inclusion Committee will represent voices collectively from the Emerging Talent Advisory Council (ETAC), Equity Committee and Women’s Council. The Inclusion Committee will address the specific needs of each of these segments with three subcommittees: the Emerging Leaders, Inclusion and Education Resources, and Women’s Subcommittees. Additional working groups will be established to manage events, marketing and communication, and mentorship.
Scene from Emergence 2024
The combined committee and specific subcommittees are designed to strike a balance between addressing the unique needs of each segment while also maximizing interests and resources that overlap, Preston-Laurent says.
“The intentionality and purpose behind each of the subcommittees is not changing,” she says. However, joint working groups will help the committees work together on areas of joint interest, such as creating greater access to mentors and communicating initiatives and key messages effectively on social media. “There’s a great opportunity for us to bring people from each of the subcommittees together so that we're getting that diverse representation in each of those working groups to help us elevate our initiatives and reach a broader audience,” she says.
Being Intentional About the Power of People
The Inclusion Committee is currently working on programming for its marquee event, The Power of People Summit. Preston-Laurent emphasizes that this is an event that has “something for everyone.” While the group is still working on the programming schedule, the goal is to design the event so attendees may opt to attend more than one session during a time block. “This will allow people to be mindful about what they need in their profession and where they are in their walk in their profession,” she says.
Scene from the 2024 Equity Forum
So, for example, an attendee may choose to attend a session about being a working parent in the equipment leasing and finance industry, then move to a session on LGBTQ+ inclusion to get information on being a better ally. Then, they may choose to attend a session on the industry’s hot topics like artificial intelligence. The staggered programming schedule will feel like a “smaller convention,” Preston-Laurent says, with the same wide variety of programming and robust networking opportunities. She adds that this dynamic approach will appeal to people in various roles throughout the industry.
“In the past, people would say, ‘Well, I'm a CEO, and a lot of the sessions were geared toward new people in the industry or levels that weren't really specific to me,” she says. “This new format will allow someone to carve out their schedule with some intentionality and purpose about what they need to go back to their job feeling fulfilled and feeling like they are prepared for growing—whatever level they are in the industry.”
Another change to ELFA’s programs is the introduction of Mentor Match, a new online platform that combines previous mentoring initiatives into an expanded, user-driven tool that expands the association’s ability to match mentors and mentees. (Read more in the story “Mentor Match: ELFA Unveils a New Tool for Fostering Mentorship”).
Scene from the 2024 Women's Leadership Forum
New Approaches, Powerful Results
Preston-Laurent says that these changes and new initiatives will help centralize resources for members to advance their diversity, equity, inclusion and belonging (DEIB) initiatives. “I want people to see that ELFA can, is and will be the best-in-class in providing member companies with inclusion-related resources, education and outreach opportunities,” she says. “I want people to see us as a central hub for offerings and best practices.”
As for what’s next in this area, Preston-Laurent says she envisions continued growth of ELFA’s inclusion resources and initiatives. “We plan to continue to be innovative and creative in what we offer members and an association that is both a model for inclusion and one that can support our members in this area.