WHEN WOMEN THRIVE. Slide 1 ROUNDTABLE DISCUSSION: DEVELOPING AN EVIDENCE- BASED GENDER DIVERSITY STRATEGY HEALTH WEALTH CAREER

Transcription

1 Slide 1 HEALTH WEALTH CAREER WHEN WOMEN THRIVE ROUNDTABLE DISCUSSION: DEVELOPING AN EVIDENCE- BASED GENDER DIVERSITY STRATEGY

2 Slide 2 AGENDA An Evidence-based Approach to Managing Diversity (30 min) Break Overview of our Global WWT Research Findings (10 min) Evaluating the 6 Ps in Your Organization Table Discussions (80 min) The Path Forward Wrap-up & Next Steps (5 min) Page 1

3 Slide 3 An Evidence-based Approach to Managing Diversity Page 2

4 Slide 4 MERCER S PERSPECTIVE COMPONENTS OF A HOLISTIC GENDER DIVERSITY STRATEGY PHYSICAL AND EMOTIONAL WELLNESS FINANCIAL WELLNESS CAREER ENGAGEMENT Page 3

5 Slide 5 MERCER S PERSPECTIVE MODERN TALENT STRATEGY RELIES ON ADVANCED ANALYTICS Less powerful Anecdotes, while less powerful, are not to be dismissed. They may hold keys to perceptions and beliefs, and play an integral role in validating and interpreting data findings Strategic Value Organizations are increasingly leveraging the predictive power of their people data to develop evidence-based strategies and action plans More Powerful Anecdotes Reactive checks Ongoing reports Benchmarks Correlations Simulations & forecasting Predictive modeling Page 4

6 Slide 6 MERCER S PERSPECTIVE DIVERSITY IS AN OUTCOME TO BE MANAGED Hiring and Recruiting Engagement and Retention A Diverse & Inclusive Workforce Careers and Performance Compensation and Benefits Evidence-based models identify whether practices (e.g., reflected in hiring, pay and promotion) vary across groups, and, if so, the root causes as well as consequences (e.g., turnover). For example, women might be less likely to be promoted into particular jobs because they receive less adequate training. Or minorities might turn over more because they work under managers who have less meaningful experience. Knowledge of such drivers is critical to achieving diversity goals and these insights provide guidance on how to hire, pay, promote, develop, and retain to best achieve sustainable success. Page 5

7 Slide 7 INTERNAL LABOR MARKET ANALYSIS REVEALS ANSWERS PREDICTIVE/EXPLANATORY ANALYTICS 1. Data Gathering (representative drivers) 2. Analysis 3. Assessment Individual Attributes Gender Ethnicity Age Tenure Education Career level Rewards Mobility Performance ratings Organizational Practices Business line Function group Supervision External Influences Unemployment rates Work location Statistical Modeling Retention Rewards Promotion Drivers of Key Workforce Outcomes Performance Systemic Evaluation of Risk and Opportunity Development of Holistic Talent Strategy Anchored Around Diversity ILM Analysis unlike ILM maps uses statistical methods including predictive analytics to reveal the rootcause relationships that are driving workforce outcomes, and points to how and where clients should act. Page 6

8 Slide 8 CASE EXAMPLE #1: PROFESSIONAL SERVICES COMPANY MOVING FROM DATA TO ACTION Case example #1: Professional Co Objective: Develop a holistic diversity & inclusion strategy across two business regions Sample Output Drivers of workforce outcomes across two regions = positive relationship = negative relationship y = not statistically significant Work Activities: Examined drivers of retention, promotion, and high performance, drilling into effects by gender, race/ethnicity and age Findings: Supervisory and sales roles were linked to success, especially for women, yet women and minorities were less likely to hold such positions Millennials and minorities highly valued access to top-rated managers Past ratings and associated feedback as well as careers highly valued relative to financial rewards, especially for diverse talent Those highly utilized not more likely to stay after accounting for performance rating Select Drivers/Predictors Retention Promotion Performance Is a Millennial (30 or younger) Is a supervisor Is in sales y y Reports to a top-rated manager y Received a high rating (last year) Promoted (last year) y Annual merit increase (last year) y Bonus Award (last year) Utilization % y Actions Identified: Ensure equitable access to supervisory and client-facing roles Strengthen supervisory training to ensure effective management and limit unconscious bias Weight effective coaching more heavily in supervisor rewards Focus on feedback as part of the value proposition Emphasize equity in promotion to ensure value proposition for diverse talent Ensure employees have opportunity to engage in developmental activities Page 7

9 Slide 9 CASE EXAMPLE #2: GENERATIONAL DIFFERENCES IN AT- WORK NETWORKS IN A PHARMA RESEARCH UNIT The majority of employees are Gen Xers. Boomers and Millennials (Gen Y), however, are less likely to link together Connections by Generation Baby Boomer Gen X Gen Y Rows: Age of Respondent Count Dist % All Strong All Strong All Strong Baby Boomer (b ; 51 or older) % 34% 35% 61% 60% 5% 4% Gen X (b ; between 35 50) % 28% 28% 65% 65% 7% 7% Gen Y (b. after 1980; 34 or younger) 48 9% 20% 18% 67% 66% 13% 16% Baby Boomer Gen X Millennials Baby Boomer Gen X (hidden) Millennials Baby Boomers and Millennials are further apart from one another; their networks comprise more of their own generation and less of each others. Gen Xers seem to be the common bridge between the older and younger generations. Page 8

10 Slide 10 CASE EXAMPLE #3: TECH COMPANY HARNESSING WHEN WOMEN THRIVE DIAGNOSTICS Strengths Gender differentiated health & benefits programs Pay equity practices Leadership engagement in D&I Opportunities Engagement of managers and men Talent management and career development: - Review of performance ratings by gender to ensure against any adverse impact - Consideration of talent management programs such as high potential acceleration, mobility/rotation, formal executive sponsorship - Re-evaluation of competencies linked to progression and success - Understanding the success profile what experiences lead to promotion - Retention of senior female talent Page 9

11 Slide 11 BREAK Page 10

12 Slide 12 Overview of our WWT Research Findings Page 11

13 Slide 13 OUR RESEARCH A CALL TO ORGANIZATIONS AND LEADERS TO THINK & ACT DIFFERENTLY TO DRIVE GENDER EQUALITY MAKING A DIFFERENCE IN PEOPLE S LIVES. / published January 2016 Page 12

14 Slide 14 OUR RESEARCH PROFILE 600+ ORGANIZATIONS LINKS HR POLICIES AND PRACTICES TO WORKFORCE RESULTS AND PREDICTS FUTURE REPRESENTATION 42 COUNTRIES With significant representation from Australia, Argentina, Brazil, Canada, China, Japan, Mexico, Portugal, Spain, UK and US and across all industries With workforce data covering 1.3 MILLION WOMEN out off a total 3.2 million employees Page 13

15 Slide 15 RESEARCH METHODOLOGY PRIMARY SURVEY AREAS INDEPENDENT DRIVERS 1. POLICIES, PRACTICES AND CULTURE CONTEXTUAL CONTROLS 2. + = OPERATIONAL CONTEXT DEPENDENT OUTCOMES 3. INTERNAL LABOR MARKET DYNAMICS WHAT YOU OFFER HOW YOU OPERATE YOUR TALENT PIPELINE Evaluation of your organizational programs, policies and practices Information on your operational context such as industry and size Collection of high-level workforce data across five standard career levels Page 14

16 Slide SURVEY OUTCOMES: ILM MAP HIRES AVERAGE GLOBAL HEADCOUNT AND PROMOTIONS EXITS Executives F: 9% M: 6% 20% 80% F: 10% M: 8% F: 7% M: 6% Senior Managers F: 8% M: 7% 26% 74% F: 8% M: 9% F: 8% M: 7% Managers F: 8% M: 9% 33% 67% F: 9% M: 10% F: 7% M: 6% Professionals F: 14% M: 14% 38% 62% F: 12% M: 12% F: 5% M: 5% Support Staff F: 18% M: 21% 49% 51% F: 15% M: 17% Female Male Page 15

17 Slide SURVEY OUTCOMES: PROJECTIONS % FEMALE IN PROFESSIONAL & ABOVE LEVELS, Current 2015 Representation Projected 2025 Representation, "Baseline" 50% 49% 40% 30% 35% 40% 39% 40% 37% 37% 36% 20% 10% 0% GLOBAL US & CANADA EUROPE LATIN AMERICA Page 16

18 Slide SURVEY OUTCOMES: PROJECTIONS % FEMALE IN PROFESSIONAL & ABOVE LEVELS, Current 2015 Representation Projected 2025 Representation, "Baseline" Additional Opportunity 50% 40% 30% 35% 49% 43% 40% 39% 40% 41% 37% 37% 36% 50% 49% 20% 10% 0% GLOBAL US & CANADA EUROPE LATIN AMERICA Page 17

19 Slide 19 KEY FINDINGS: TOP 3 GLOBAL TRENDS Current hiring, promotion and retention rates are insufficient to create gender equality by 2025 Organizations are failing to build future pipelines of female talent Increased focus on hiring and promoting women into executives ranks not supported by systemic practices Page 18

20 Slide 20 MERCER S 6P S BREAKING THROUGH INERTIA AND ADVANCING WOMEN IN THE WORKPLACE REQUIRES INDIVIDUAL AND ORGANIZATIONAL ACTION INDIVIDUAL ARE YOUR LEADERS PASSIONATE? What does WHEN WOMEN THRIVE mean to you? ORGANIZATIONAL IS YOUR STRATEGY ROOTED IN PROOF? IS ACHIEVING SUCCESS A PERSONAL GOAL? DO YOU HAVE THE ADVOCATES, CULTURE AND INFRASTRUCTURE IN PLACE TO PERSEVERE? Page 19

21 Slide 21 GROUP ACTIVITY: EVALUATING THE 6Ps IN YOUR ORGANIZATION Page 20

22 Slide PASSIONATE LEADERSHIP Q1. Senior executives (i.e., CEO plus direct reports) in my organization are actively involved/engaged in D&I programs/initiatives. 1 - Disagree 2 - Neutral 3 - Agree Page 21 MERCER 2015

23 Slide PASSIONATE LEADERSHIP 57% SENIOR EXECUTIVES ENGAGED IN D&I EFFORTS WOMEN THRIVE WHEN leaders at all levels are passionately engaged. WHY IT MATTERS: Organizations with leaders who are actively engaged in D&I have more women at the top, and they hire, promote, and retain women at higher rates relative to men. Page 22 MERCER 2015

24 Slide PERSONAL COMMITMENT Q2. Men in my organization are actively involved/engaged in D&I programs/initiatives. 1 - Disagree 2 - Neutral 3 - Agree Page 23 MERCER 2015

25 Slide PERSONAL COMMITMENT 38% MEN ENGAGED IN D&I EFFORTS WOMEN THRIVE WHEN leaders at all levels see gender diversity as a win-win. WHY IT MATTERS: Employees in all career levels, men and women, need to be deeply and authentically committed to success it cannot be a check the box measure. Page 24 MERCER 2015

26 Slide 26 ROUNDTABLE DISCUSSION (10 minutes) Page 25 MERCER 2015

27 Slide 27 ROUNDTABLE ROUND-ROBIN DEBRIEF Share a trend, an unique success, a takeaway, or an a-ha moment you had during your table discussion. Page 26 MERCER 2015

28 Slide PROGRAMS Q3. Managers in my company receive training to effectively support employees through the maternity/paternity leave and return-towork processes. 1 - Disagree 2 - Neutral 3 - Agree Page 27 MERCER 2015

29 Slide PROGRAMS 29% MANAGER TRAINING TO SUPPORT LEAVE/RETURN PROCESS WOMEN THRIVE WHEN there are programs in place to support their unique needs. WHY IT MATTERS: Leave/flexibility programs need to be actively managed. Traditional job design and valuation leave business growth potential untapped as leadership competencies are often more aligned with strengths of men. Page 28 MERCER 2015

30 Slide 30 ROUNDTABLE DISCUSSION (10 minutes) Page 29 MERCER 2015

31 Slide 31 ROUNDTABLE ROUND-ROBIN DEBRIEF Share a trend, an unique success, a takeaway, or an a-ha moment you had during your table discussion. Page 30 MERCER 2015

32 Slide PROCESS Q4. Pay equity is assessed and adjustments are made regularly as part of my organization s annual compensation review process. 1 - Disagree 2 - Neutral 3 - Agree Page 31 MERCER 2015

33 Slide PROCESS 41% PAY EQUITY ADJUSTMENT AS PART OF THE ANNUAL REVIEW PROCESS WOMEN THRIVE WHEN there are processes that actively support women. WHY IT MATTERS: Organizations that apply a gender lens to promotion and performance management and apply a robust pay equity processes have greater female representation. Page 32 MERCER 2015

34 Slide PROOF Q5. My organization uses more quantitative data (e.g., tracked competencies) than qualitative data (e.g., anecdotes) to evaluate/determine managerial strengths. 1 - Disagree 2 - Neutral 3 - Agree Page 33 MERCER 2015

35 Slide PROOF 4% USE QUANTITATIVE DATA WOMEN THRIVE WHEN there is proof of what is helping and what is hurting. WHY IT MATTERS: Traditional job design and valuation leave business growth potential untapped as leadership competencies are often more aligned with strengths of men. Page 34 MERCER 2015

36 Slide 36 ROUNDTABLE DISCUSSION (10 minutes) Page 35 MERCER 2015

37 Slide 37 ROUNDTABLE ROUND-ROBIN DEBRIEF Share a trend, an unique success, a takeaway, or an a-ha moment you had during your table discussion. Page 36 MERCER 2015

38 Slide PERSEVERANCE Q6a. I am confident in my organization ability to attract female talent. 1 - Disagree 2 - Neutral 3 - Agree Page 37 MERCER 2015

39 Slide PERSEVERANCE Q6b. I am confident in my organization ability to develop female talent. 1 - Disagree 2 - Neutral 3 - Agree Page 38 MERCER 2015

40 Slide PERSEVERANCE Q6c. I am confident in my organization ability to retain female talent. 1 - Disagree 2 - Neutral 3 - Agree Page 39 MERCER 2015

41 Slide PERSEVERANCE 58% CONFIDENT IN ABILITY TO ATTRACT 54% CONFIDENT IN ABILITY TO DEVELOP 55% CONFIDENT IN ABILITY TO RETAIN WOMEN THRIVE WHEN the focus is broader than acquiring diverse talent at the top. WHY IT MATTERS: Organizations must ensure the sustained viability of their strategy establishing an infrastructure that will persevere. One-off efforts or periodic engagement campaigns will not drive change or advance progress. Page 40 MERCER 2015

42 Slide 42 ROUNDTABLE DISCUSSION (10 minutes) Page 41 MERCER 2015

43 Slide 43 ROUNDTABLE ROUND-ROBIN DEBRIEF Share a trend, an unique success, a takeaway, or an a-ha moment you had during your table discussion. Page 42 MERCER 2015

44 Slide 44 THE PATH FORWARD: WRAP- UP & NEXT STEPS Page 43

45 Slide 45 THE TIME IS NOW