managing for diversity - three key takeaways

Download Managing for Diversity - Three Key Takeaways

Post on 29-Nov-2014

132 views

Category:

Business

2 download

Embed Size (px)

DESCRIPTION

Using data-driven insight, Paul O’Shea, Head of Consulting, will explore diversity performance among organizations today, analyze changes in what the future diverse talent pipeline look for in employers, and address the rising importance of a diverse workforce culture as a leading employer today.

TRANSCRIPT

  • 1. September 15, 2014 Managing for Diversity
  • 2. Agenda universumglobal.com 2 1. What does diversity look like today 2. The future talent pipeline 3. How to manage for diversity 4. Q&A Hosted by: Paul OShea, Head of Consulting Americas Date: Sept 15th 2014
  • 3. What does diversity look like today
  • 4. If you are struggling with diversity, you are not alone WHAT DOES DIVERSITY MEAN TODAY? http://www.toptechnews.com/article/index.php?story_id=1200087VXWKO 4 Were in the business of building products for hundreds of millions of users worldwide and that starts with having the best possible talent -- a Yahoo team that understands and reflects our diverse user base. These statistics are only part of the story -- Yahoo works to ensure that our existing employees feel welcome and supported during their time at the company. Jackie Reses, Yahoos chief development officer
  • 5. If you are struggling with diversity, you are not alone WHAT DOES DIVERSITY MEAN TODAY? http://www.toptechnews.com/article/index.php?story_id=1200087VXWKO 5 Over the past few years, we've experienced tremendous growth and have become a truly global company, but in terms of overall diversity, we have some work to do, Pat Wadors, LinkedIns vice president of global talent.
  • 6. Still 1 in 4 executives say workforce issues are often an afterthought in business planning WHAT DOES DIVERSITY MEAN TODAY? Source: 1. Donald D. Dowling Jr: Cross border diversity initiatives for recruitment and retention; 6 2. http://www.forbes.com/sites/sap/2014/09/11/workforce-2020-how-ready-are-you/ Our research suggests that an alarming number of companies dont have the structure, strategy, culture, and resources needed to manage a diverse, contingent, and multigenerational workforce. 2
  • 7. So where do we begin our diversity journey? WHAT DOES DIVERSITY MEAN TODAY? Source: 1. Donald D. Dowling Jr: Cross border diversity initiatives for recruitment and retention; 7 2. http://www.forbes.com/sites/sap/2014/09/11/workforce-2020-how-ready-are-you/ Any diversity recruiting/retention initiative will fail if the employer cannot measure its success. And no employer can measure the success of a diversity program without consensus around the meaning of the core term diversity. 1
  • 8. The evolution of diversity as an inclusive concept WHAT DOES DIVERSITY MEAN TODAY? Source: Grutter v Bollinger, 539 U.S. 306,330 (2003) 8 Cultural Secondary Primary Experiences Opinions Backgrounds Religion Sexual orientation Socio-economic Disability Veterans Gender Race Ethnicity Age
  • 9. What should the definition of diversity be? WHAT DOES DIVERSITY MEAN TODAY? Source: 1. Goldman Sachs diversity ad, 2000 2 http://www.pharma.us.novartis.com/info/about-us/diversity-and-inclusion.jsp 9 It is hard to define what diversity is because everyone has an opinion 1
  • 10. What should the definition of diversity be? WHAT DOES DIVERSITY MEAN TODAY? 10 Diversity is our differences the variety of perspectives, experiences, opinions and contributions we each bring to the business. Inclusion is about understanding, appreciating and maximizing those differences to create an environment and culture that is welcoming, collaborative and productive for all employees.2 Source: 1. Goldman Sachs diversity ad, 2000 2 http://www.pharma.us.novartis.com/info/about-us/diversity-and-inclusion.jsp
  • 11. The Competitive Advantage of Diversity http://www.cummins.com/cmi/navigationAction.do?nodeId=15&siteId=1&nodeName=The+Business+Case+for+Diversity&menuId=1003 11 "Character, ability and intelligence are not concentrated in one sex over the other, nor in persons with certain accents, or in certain races, or in persons holding degrees from some universities over others. When we indulge ourselves in such irrational prejudices, we damage ourselves most of all and ultimately assure ourselves of failure in competition with those more open and less biased. J. Irwin Miller, former Cummins Chairman and CEO who retired in 1977 after leading the company for some 40 years
  • 12. What is the most important thing diversity contributes to an organization? WHAT DOES DIVERSITY MEAN TODAY? universumglobal.com 12 The culture
  • 13. What is the most important thing diversity contributes to an organization? WHAT DOES DIVERSITY MEAN TODAY? universumglobal.com 13 The culture It contributes to the bottom line
  • 14. What is the most important thing diversity contributes to an organization? WHAT DOES DIVERSITY MEAN TODAY? universumglobal.com 14 The culture It contributes to the bottom line Helps you attract and retain great people
  • 15. What is the most important thing diversity contributes to an organization? WHAT DOES DIVERSITY MEAN TODAY? universumglobal.com 15 The culture It contributes to the bottom line Helps you attract and retain great people Increases productivity
  • 16. What is the most important thing diversity contributes to an organization? WHAT DOES DIVERSITY MEAN TODAY? universumglobal.com 16 The culture It contributes to the bottom line Helps you attract and retain great people Increases productivity Diverse perspectives enables better innovation
  • 17. What is the most important thing diversity contributes to an organization? WHAT DOES DIVERSITY MEAN TODAY? universumglobal.com 17 The culture It contributes to the bottom line Helps you attract and retain great people Increases productivity Diverse perspectives enables better innovation Positive PR in the marketplace
  • 18. But we have a long way to go WHAT DOES DIVERSITY MEAN TODAY? http://fortune.com/2014/07/08/women-ceos-fortune-500-1000/ 18 There are currently just 24 women CEOs in the Fortune 500 and 27 in the Fortune 1000. Only 5% of Fortune 1000 companies have female CEOs, but those giants generate 7% of the Fortune 1000s total revenue. Fortune 1000 companies with female chiefs outperformed the S&P 500 index over their respective tenures. The most common college major among women CEOs in the Fortune 1000 is engineering.
  • 19. Diversity at board level is also improving but slowly WHAT DOES DIVERSITY MEAN TODAY? Source: Missing Pieces Women & minorities on Fortune 500 boards 2012 ABD census 19 67.8% 15.9% 12.4% 3.9% Diversity % White/Caucasian Men White/Caucasian Women Minority Men Minority Women 0 50 100 Men Women Minority Men Minority Women 2004 2010 2012
  • 20. Even Apple is aspiring for better diversity WHAT DOES DIVERSITY MEAN TODAY? Source: apple.com/diversity 20 As CEO, Im not satisfied with the numbers on this page, Apple CEO Tim Cook.
  • 21. Any many other companies are also struggling WHAT DOES DIVERSITY MEAN TODAY? http://fortune.com/tag/diversity/ 21 Put simply, Google is not where we want to be when it comes to diversity, Laszlo Bock, Googles senior vice president of people operat