7 practical ways to turn diversity into a major asset for your company

Daniel DeanProduct Marketing Manager

BambooHR

Sonnet LauberthCompensation Professional

PayScale

Functional Fixedness

A New Perspective

Mitigating Risk

Diversified Investment

Diversified Investment

Defining the Issues

Why Are We Talking about Diversity?

Who needs to hear about diversity in 2016?

Haven’t we “been there/done that” already?

Defining the Issues

Diversity presents challenges.

Bias is human.

Bias can be FOR or AGAINST.

Diversity should be handled with intention.

What Do We Mean By “Diversity”?It’s a wide range of differences.

The Workforce Is Becoming Larger and More Diverse

Source: http://www.amren.com/news/2015/03/official-census-bureau-projection-for-2060/

… our customers certainly are.

But even if the workforce isn’t becoming more diverse

Bias and Workplace “Currency”

Types of workplace currency• Cash• Work assignments• Development opportunities• Promotions• Perks (e.g., working from home)• Favor

Currency greases all the workplace wheels

Diversity & Experience

Diversity of Experience

TIME

Diversity of Experience

TIME TENURE

Diversity of Experience

TIME INDUSTRYTENURE

Diversity and Compensation

Ensuring Fair Pay

Develop Your Plan➤ Philosophy

➤ Strategy

➤ Structure

➤ Guidelines/Policies

➤ Processes

Identifying and Resolving Inequities

Equity Pay Self Audits –

Pros and Cons

Manager Favoritism

A Note on NegotiationStudies show a difference in negotiating skills by gender.

Diversity & Opinion

Empathy

CommunicationSensitivity

CourageDiplomacy

EmpathyDiscussion

Decision Paralysis

Diversity Beyond Compensation

Diversity vs. Inclusion

Employee RelationsDevelop clear antidiscrimination policies to mitigate

employee relations issues before they arise.

Training and Developmentof employers plan to use L&D programs to retain and recruit their employees.58%

Immediate Actions Examine your workforce – who works at your

organization? What types of diversity do you already celebrate? Where is there room for improvement?

Assess your managers’ skillsets – do they have the capacity to effectively create an inclusive environment?

Review your comp plan – is it set up in a way to minimize or eliminate discrimination concerns?

Explore the forms of workplace “currency” in place at your organization – are they set up for success?

Diversity & Skill

Hard SkillsSkills that are learned to perform a specific job function and are more easily identifiable and quantifiable.

Mostly about “what you know”

VS

Soft SkillsSkills that are less tangible, and more associated with one’s traits or personality, that determine how we interact.

Mostly about “how you act”.

18th Century 19th Century 20th Century 21st Century

Agricultural Age(farmers)

Industrial Age(factory workers)

Information Age(knowledge workers)

Conceptual Age(creators and empathizers)

AffluenceTechnology

Globalization

High

Low

AbundanceAutomationAsia

Dan PinkA Whole New Mind

Soft Skills

Hard Skills

Soft Skills

Soft Skills

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