The Value of Energizing and Enabling a Diverse Workforce

Transcription

1 The Value of Energizing and Enabling a Diverse Workforce ECIA Executive Conference October 1 October 26, 2015 MaryAnn Miller SVP, Chief Human Resources Officer and Marketing & Corporate Communications

2 Agenda Company Snapshot and Importance of Employee Engagement The Case for Diversity Building a Successful Diversity Framework Sustaining Engagement 2 October 26, 2015

3 From components to cloud and design to disposal, Avnet brings products, services and solutions to customers that build, sell, and use technology, globally. Play video 3 October 26, 2015

4 Company Snapshot Fast Facts Headquartered in Phoenix, AZ Founded in 1921 AVT listed on the NYSE in acquisitions announced or closed since FY suppliers 100,000 customers Doing business in 90+ countries 19,000+ employees worldwide An Industry Leader Named to the FORTUNE Most Admired list for technology distribution, No. 4 on the 2015 InformationWeek Elite 100 as a Top Business Technology Innovator No. 108 on the 2015 FORTUNE 500 (U.S.) No. 430 on the 2015 FORTUNE Global 500 Named a World's Most Ethical Company by Ethisphere Institute 2014 and 2015 Avnet Technology Solutions $10.6B 38% FY15 Annual Revenue Asia $8.91B (32%) EMEA $7.87B (28%) Avnet, Inc. $27.9B Americas $11.14B (40%) Avnet Electronics Marketing $17.3B 62% 4 October 26, 2015

5 Our Product is Service Key strategic flows: Products, Information and Finances Semiconductors Connectors/ Passive Components Embedded Components Electronic Component Solutions Design Chain Supply Chain Technical Support Global Integration & Logistics EMS ODM OEM IT OEM IT Solutions Demand Creation Ecosystem Enablement Technical Support Global Integration & Logistics VAR ISV Service Providers System Integrators End Customer Software & Services Vendors We aspire to be the premier partner of choice for our customers, suppliers, employees and shareholders by accelerating their success through our global technology marketing and distribution resources, services and culture. 5 October 26, 2015

6 Avnet s 3Gs: Top Priorities Profitable Growth Globalization Great People 6 October 26, 2015

7 Importance of Engagement Thoughtful organizational development strategies lead to a more productive and engaged workforce, a more loyal customer base and higher shareholder returns. Employee Retention Profitability People Practices Employee Engagement and Organizational Climate Employee Productivity External Service Value Customer Satisfaction Customer Loyalty Revenue Employee Engagement Customer Engagement Putting the Service-Profit Chain to Work, Heskett, et. al., - Harvard Business Review 7 7 October 26, 2015

8 Global GDP Growth Pre- Dot Com Asian financial crisis dropped worldwide GDP to 2.6% Computer technology and globalization drove strong growth The 1990 s saw the expansion of the worldwide economy primarily due to the advance of PCs, computer technology and globalization of commerce 8 October 26, 2015

9 Global GDP Growth Post- Dot Com Great recession saw global growth pullback The post- Dot Com era saw the global economy rapidly expand until the Great recession in Current growth expectations remain moderate at 3-4% 9 October 26, 2015

10 While Technology s Still a Great Place... Overall economic growth remains sluggish Continuing mixed signals among key indicators Evolving purchasing and consumption models Accelerating pace of change 10 October 26, 2015

11 Competitive Environment for Talent October 26, 2015

12 It s Changing Inside Avnet, too Reset purpose, vision and strategy Transition in top leadership Organizational culture evolving More geographic diversity Many generations working together New skill sets required 12 October 26, 2015

13 The Case for Diversity Globalization and changing demographics Interaction with international customers and employees A diverse workforce provides perspectives, approaches, and cultural understandings that leverage innovation and creativity 13 October 26, 2015

14 Interaction of Diversity and Inclusion Diversity: the variety of people and ideas within an organization Organizations often define the diversity according to legally protected difference Inclusion: an environment where people feel involved, respected, valued and where individuals bring their authentic selves (ideas, background and perspectives) to team and business 14 October 26, 2015

15 Shifting Perspective on Diversity over Time Ethical It s the right thing to do Legal We have to do it External Business Relations Internal Business Relations Our customers want us to do it Our business performs better because of it 15 October 26, 2015

16 Benefits of Being an Inclusive Organization Inclusive and engaging organizations are 3.3x more likely to be high performing and 5x more likely to be agile Improved business outcomes and financial performance Better attraction and retention of top talent Increased confidence of stakeholders Stronger brand 16 October 26, 2015

17 Challenges to Implementing a Diversity Strategy Lack of enterprise-wide commitment Lack of clarity on specific actions to take Unconscious bias Time and budget Raises expectations for action that might not be fulfilled 17 October 26, 2015

18 Best Practices for Diversity and Inclusion Executive ownership Anchor initiatives in business strategy Connect initiatives to talent strategy Clarify vision, purpose and definition create transparency Provide training and support Track and measure more than compliance numbers Expect high standards of performance from everyone 18 October 26, 2015

19 Avnet s HR Mission and Strategic Planning Process We partner with the business to drive world-class performance by attracting, engaging, developing and rewarding a diverse, industry-leading global workforce. Avnet purpose, vision, strategy External trends & leading practices Voice of the employee Review & Reset Global objectives adapted to local needs Prioritize & invest 19 October 26, 2015

20 Avnet s HR Strategic Imperatives Employer Brand HR Effectiveness Talent Development Employee Well-Being Compensation & Benefits 20 October 26, 2015

21 Avnet s Approach to Diversity and Inclusion Our commitment is to promote an inclusive environment that recognizes and values diversity as a key to enhancing individual development and maximizing business effectiveness. Attract Engage Develop Reward 21 October 26, 2015

22 Avnet s Approach to Diversity and Inclusion ATTRACT Understand attraction drivers Develop a value proposition tailored to the right talent Target recruiting efforts to reach underserved groups Partner with student and civic organizations Network with trade associations Attend diversity job fairs Leverage technology to post jobs to diversity organizations Provide effective onboarding Learn from employees who depart 22 October 26, 2015

23 Avnet s Approach to Diversity and Inclusion ENGAGE Conduct Global Employee Survey and take action Includes perception of diversity Create holistic well-being program Sponsor affinity groups Ask senior leaders to publicly champion 23 October 26, 2015

24 Avnet s Approach to Diversity and Inclusion Establish goals and accountability within talent development strategy Customize development plans Offer mentoring/coaching Provide learning opportunities Global and Cultural Awareness Generational Differences Situational Leadership Engaging/Retaining Talent Foster Inclusivity Language Proficiency DEVELOP 24 October 26, 2015

25 Avnet s Approach to Diversity and Inclusion REWARD Competitive compensation strategy that promotes pay equality Benefits that consider employee preferences and lifestyle needs Localized recognition programs Acknowledgement for doing the right thing 25 October 26, 2015

26 Key Takeaways Workforces, workplaces and customers are changing in ways that require diversity and inclusion. Diversity and inclusion go hand in hand to create a highly engaged workforce. Positive impact on business: Employee engagement Higher productivity Better attraction and retention of top talent Innovation Customer satisfaction Financial performance Brand value Strategic imperatives: Executive ownership Anchoring initiatives in business strategy Connect to talent strategy Practical steps: Clarify vision, purpose and definition Understand employee preferences Vary recruiting methods Discuss diversity at every level Empower managers to lead individuals Offer training and development Measure results Reward and recognize Be as transparent as possible 26 October 26, 2015

27 Ready for What s Next... Shape work environment that engages, enables and energizes over time. Think more broadly and creatively about where talent is sourced. Embrace the virtual workplace and maximize mobility and flexibility. Invest more heavily in retraining and re-skilling (security in opportunity). Rethink and restructure how certain work is accomplished. Engaging Environment Talent Sourcing Virtual Workplace Re-skilling Rethinking Work October 26, 2015

28 Thank you and Questions 28 October 26, 2015