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Archive for the ‘Diversity’ Category
Annual global consumer spending now exceeds USD20 trillion. It has long been known that women make 80% of the major spending decisions (vehicles, vacations, homes, financial planning).
However, there is a disconnect in the corporate world when acceding that same sort of “spend power” of women to drive and lead organizations.
51% of women globally work outside the home. Moving up the ladder, their influence hovers at around 15% at the Executive level, 3% at the CEO level. Why hasn’t that “glass ceiling” been shattered by now, or at least visibly cracked?
According to research by Hewlett and Luce, women are the first ones forced out during a downsizing or M&A (diversity sensitivity takes a nosedive during a re-org) or they start looking elsewhere when faced with limited growth potential. Those who remain do so out of necessity but feel “stuck” at lower levels, since doing more than what is required to do earns no greater benefit or prestige.
Since women are considered to be a family’s primary caregiver, the burden of caring for elderly parents and/or children falls to them. Given a choice—abandon the workplace or invest time with a loved one—women will generally lead with their integrity and let their pocketbook take a hit.
But there’s more—far more—than these issues: women between ages 30 and 55 re-evaluate life, gaze inward, and re-define their purpose.
A man’s “midlife crisis” is often narcissistic, (sports cars, love affairs, new-found sports) pushing away thoughts of any decline, whereas a maturing woman’s thoughts focus on critical self-awareness, accumulating wisdom and usefulness. This re-awakening often occurs for women during a critical career junction. A career progression from management to leadership seems not only possible, but entirely logical.
Organizations must stop focusing on policy and diversity spreadsheets, and better address individual and employee segments, acknowledging that the dearth of executive-level women significantly impacts the bottom line. To solve this dilemma, companies need to ask: ‘What does the talent we seek (and currently employ) want and need? How do their wants and needs drive their level of engagement and the organization’s bottom line?
7 Steps Program:
Link the three “A’s” of role and engagement:
-Autonomy (“let me do my job”);
-Authenticity (“let me be who I am”);
-Acknowledgement (“tell me when I’m doing well and when I’m off-track”).
Give credit for ideas: Don’t steal my ideas and claim them as yours.
Provide a mentor or advocate to help increase visibility and credibility. Not everyone is comfortable with self promotion; many people (men and women) need help in this crucial area.
Incorporate organizational components that support workplace diversity: Flexible schedules; moving up the ranks even when telecommuting from home or not physically in the office; family benefits; sabbaticals; and that each option is viewed positively by management and leadership. Hiring managers must be enthusiastic and supportive, or workers will not feel it worthwhile to make use of their options.
Use a marketing approach for benefits: One size doesn’t fit all. Recognize varying needs of employees and offer benefits that drive engagement. (A happy side effect: the bottom line should increase.) True commitment comes as a result of the organizational support employees receive. When organizations commit wholeheartedly, they get higher performance; employees identify with the goals and values and feel like part of a true and valued process. Result: turnover becomes much less of a problem or concern.
Define membership, build an inclusive community. Perception management is crucial. Transparency is key. If women think they must adapt their behaviour to fit in, their authenticity takes a beating. If an organization is perceived to have an óld boy’ network, and women see only men at the top, the hurdles appear bigger, and their reasons to leave or expend minimal energy grow stronger.
Don’t take shortcuts or offer one-off solutions: The real solution is not as simple as starting a mentoring program or offering flexible benefits. Examine your workforce as you would your marketing plan. Target benefits to meet employees’ legitimate needs. Constantly manage perceptions.
Remember that employees make a decision to leave 6 to 9 months before they actually announce their plans – and they’ll jump ship unexpectedly when they find a work environment that helps them thrive
Diversity and Inclusion has been the topic of the month. Last week, Community Business sponsored the Diversity and Inclusion conference with over 200 participants, a fantastic line up of speakers and impressive list of corporate sponsors.
In the same week, the Securities Industry and Financial Markets Association (SIFMA) held their annual meeting to honor the banking industry leaders in diversity. Read, Susan Antilla’s article, No News is Bad News for Women on Wall Street on Bloomberg and you will find….. well…. “there wasn’t alot to report.”
This week, Diversity Best Practices and Working Mother Media are holding a conference in Beijing offering a deep dive into Diversity issues facing China. Looking at the line up of speakers, it’s mostly multinationals sharing knowledge and challenges they’re facing in China.
Despite the focus, few organizations have explored the concept of Diversity across the multiple countries in the Asia Pacific Region. Similar to other corporate initiatives, there appears to be a one size fits all model, which might good for the bottom line but ultimately misses the subtle nuances and differences across countries and organizations.
Similar to leadership theories, diversity programs are generally constructed and defined by European and American terms. Very little has been written or researched on the definition of diversity and how this concept is actualized across the various cultures in the Asia Pacific Region.
Tailoring Diversity programs may very well be the next stage of development in building gender rich, culturally aware organizations.
Stay tuned.
Do any of us stop and think about our connections both inside and outside of work?
Think about it, your network – family, friends, or colleagues, contain the essential ingredients that brings out the best in you; this network provides feedback and insights on your potential.
Have you ever considered building a personal board of directors?
Something to consider – who would you want on this board? You would definitely want people who think like you – but you also need diversity of thinking and a couple of charismatic leaders to shape your thinking. This network provides mentoring and insights on your leadership power.
And, this board will become a sponsor or advocate for your next promotion.
One business leader told me she tapped into the social networking sites of many talented managers to see who they connected with – “talent attracts talent, ” she said.
Take a step back and study a few great leaders – someone you worked with before or someone you admire – and ask yourself, ‘who influences them? or who do they surround themselves with?” You will start to see patterns – leadership and talent are surrounded by other talented people.
Call it, the law of attraction, like attracts like.
Building a network takes time, energy, and intention – which eventually pays off – your network builds your leadership strengths and brings your power to the surface.
This week, invest time and add new members to your network
