Why diversity matters to future of insurance industry - motivation, leadership, talent development, insight, foresight, emerging market growth, customer relationships, effective marketing
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Why diversity matters to future of insurance industry - motivation, leadership, talent development, insight, foresight, emerging market growth, customer relationships, effective marketing

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Keynote speech on future of the insurance industry looking at trends in diversity, equality of opportunity, workplace discrimination, talent development, team leadership, effective change management, ...

Keynote speech on future of the insurance industry looking at trends in diversity, equality of opportunity, workplace discrimination, talent development, team leadership, effective change management, better underwriting, more accurate customer insight, faster growth of insurance in emerging markets. Keynote by Dr Patrick Dixon, Futurist conference speaker.

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Why diversity matters to future of insurance industry - motivation, leadership, talent development, insight, foresight, emerging market growth, customer relationships, effective marketing Why diversity matters to future of insurance industry - motivation, leadership, talent development, insight, foresight, emerging market growth, customer relationships, effective marketing Presentation Transcript

  • Why Diversity Matters to Future of Insurance Industry Dr Patrick Dixon Chairman Global Change Ltd Tuesday, 3 September 13
  • Talent, skills, experience, language, culture Tuesday, 3 September 13
  • The future is about EMOTION Diversity = Predictability Tuesday, 3 September 13
  • Tuesday, 3 September 13
  • Diversity  in  workplace   leads  to  diversity  in   marketplace Tuesday, 3 September 13
  • Business Case for Diversity Tuesday, 3 September 13
  • Teams  in  top  half  of  Engagement 86%  more  likely  be.er  customer  metrics 70%  more  likely  to  have  low  staff  turnover 70%  more  likely  to  be  highly  produc>ve 44%  more  likely  to  be  profitable   — 10  million  surveyed  by  Gallup Tuesday, 3 September 13
  • Corporate Values Help Recruitment •82%  would  not  work  for  company  whose   values  they  objected  to •59%  work  for  a  company  because  they   believe  in  it’s  values Tuesday, 3 September 13
  • Coca  Cola  Diversity  Awards Tuesday, 3 September 13
  • 1  trillion pages  a  month Tuesday, 3 September 13
  • Online HR Challenges •xxxxx is like working for that two-faced, back-stabbing "so- called" friend you wish you had neve... Read More •Just to give an overall perspective. I am trying hard not to EVER buy a product from this company a... Read More •I am quite disappointed in the culture and diversity at xxxxx. The culture is similar to a popu... Read More Tuesday, 3 September 13
  • Reputa>on  for  hiring  WHITE   Americans  leading  to  lawsuits Tuesday, 3 September 13
  • 85%  of  leaders  of  largest  US  corpora>ons   say  diversity  is  key  to  innova>on Forbes  study Tuesday, 3 September 13
  • Diversity  linked  to  higher  sales,  market   share  and  profits,  talent  recruitment Tuesday, 3 September 13
  • Diverse  teams  can  mean  less  loyalty,  lower   mo>va>on,  higher  sick  leave,  conflict,  mis-­‐ communica>on,  slower  decisions Tuesday, 3 September 13
  • Expect many mergers and acquisitions even though Tuesday, 3 September 13
  • Tuesday, 3 September 13
  • What  have  we   learned  from   tackling  GENDER   issues? Tuesday, 3 September 13
  • Tuesday, 3 September 13
  • Only  30%  Wal-­‐Mart  management  are  women Tuesday, 3 September 13
  • Women  Outperform  Men •Most  sales  to  women •60%  US  graduates •40%  primary  earners •Most  women  leave  corpora>ons  early •Solve  talent  shortage UrbanTribal Tuesday, 3 September 13
  • Women  outperform  men and  then  disappear •Only  3.2%  of  the  Presidents  or  Chairs  of   the  largest  publically-­‐listed  companies  in   EU  are  women •Only  13.7%  of  their  board  members  are   women  Board  members  with  highest  %   women –  42%  higher  sales –  66%  higher  ROI Tuesday, 3 September 13
  • Toxic  Testosterone  Culture Tuesday, 3 September 13
  • •Young  children •Dependent  parents •Double  careers •Double  shiN  pa.erns •Divorce  /  separa>on Complex  Homes Tuesday, 3 September 13
  • •12%  of  mothers  want  to  work  full  Mme •31%  do  not  want  to  work  outside  home •28%  men  full  Mme  jobs  want  part  Mme •Most  fathers  want  more  Mme  with  children •2009  UK  Survey Parents  and  Work  Flexibility Tuesday, 3 September 13
  • Life-­‐Life  Balance  Flexibility Tuesday, 3 September 13
  • Balance  is  usually  about  People Tuesday, 3 September 13
  • Bonusable objective = % Part-Time •Hours  –  part-­‐Mme,  job-­‐sharing,  flexible  start  and  finish  Mmes,  shorter •Leave  –  unpaid  leave  for  study,  bereavement,  parental  care,  voluntary •Loca>on  –  working  from  home,  opportunity  to  transfer  to  different  area Tuesday, 3 September 13
  • Different in Emerging Nations Tuesday, 3 September 13
  • Lessons  from   GENDER  can   apply  to  RACE   Tuesday, 3 September 13
  • Reproduce  own  image Tend  to  recruit  people  with  familiar  name,  voice,  accent,  personality,  culture,  appearance Tuesday, 3 September 13
  • “People  of  Colour”-­‐  US By 2050, no ethnic majority in US By 2050 new immigrants and their children = 83% of growth in workforce People of colour own 22% of U.S. businesses Women of colour own 1.9 million firms, $165 billion pa revenue and 1.2m staff People of color only represent about 15% of corporate boards among the senior management of Fortune 500 companies Tuesday, 3 September 13
  • US  Race  Discrimina>on Unemployment  rate  for  White  graduates  is  half  that  of  Black  graduates 95%  of  gap  is  due  to  higher  probability  of  losing  work Discrimina>on  on  ancestry,  color,  hair  texture,  facial  features,  name,   accent  or  manner  of  speech,  hair  style  (e.g.  locks  or  a  goatee).  Couch  and  Fairlie Tuesday, 3 September 13
  • EU  race  discrimina>on Rise  of  xenophobia  across  EU Hos>le  reac>ons  to  Italy’s  first  black  cabinet  minister  etc Italy,  Slovakia,  Hungary  NB  discrimina>on  against  Roma  people Tuesday, 3 September 13
  • Ethnic  Issues  in  UK  Workplace 12%  of  working  age  are  ethnic  minori>es 20%  unemployment  rate  in  Black  workers 7.6%  unemployment  rate  in  White  workers 20%  unemployment  rate  in  white  youths 44%  unemployment  rate  in  black  youths 1  in  6  UK-­‐domiciled  students  are  from  ethnic  groups 1  in  15  ethnic  graduates  are  in  management Tuesday, 3 September 13
  • UK  Race  Discrimina>on Only 1% of principals of colleges in Britain are from ethnic minorities -16% of students Tuesday, 3 September 13
  • UK  Race  Discrimina>on Many job applicants change their name or appearance to try to overcome prejudices better chance of job interview / offer Tuesday, 3 September 13
  • Benefit  of  Quotas  ? Black  Asian  and  Minority  Ethnic  People  in  UK 1  in  4  at  school  -­‐  1  in  8  in  workforce  -­‐    1  in  16  on  FTSE100  boards Tuesday, 3 September 13
  • Unconscious  racial  bias in  White  Men Alcoa, Bank of America, Intel, Exelon, Marsh & McLennan Companies, PepsiCo, Wal-Mart and PWC etc 45% percent of white men gave boss a positive rating 21% percent of women and people of color agreed Own story Tuesday, 3 September 13
  • AGEISM  is  the   next  biggest   challenge   Tuesday, 3 September 13
  • Jim  Clements  is  100  years  old Tuesday, 3 September 13
  • Tuesday, 3 September 13
  • Beyond  Re>rement What is your corporate position on retirement age? Laws vary - challenge to take a position What is “morally right” and fair? Does it change when 40% of youth are out of work? Tuesday, 3 September 13
  • SEXUALITY less  visible  but  high  impact   40%  of  gay  and  lesbian  employees  say  they  face  harrassment  and  discrimina>on  at  work Tuesday, 3 September 13
  • IMPROVE DIVERSITY   Tuesday, 3 September 13
  • White  men  ocen  lead  “Diversity”  projects  in  large  US  corpora>ons BUT  white  men  oNen  blind  to  prejudices  -­‐  according  to  their  non-­‐white  team  members Tuesday, 3 September 13
  • Develop  hiring  strategy  to  make  workforce   look  like  community  you  operate  in Recruit  people  who  like  diverse  teams   Help  new  hires  to  feel  that  they  belong Create  internal  role  models  /  champions Tuesday, 3 September 13
  • Use  community  organisa>ons  in  hiring  to  encourage  diversity Tuesday, 3 September 13
  • Start  at  the  Top Modelling  right  aftudes Absolute  commitment  to  diversity Clear  targets  -­‐  threat  of  quotas! Equal  candidates  -­‐  chose  under-­‐represented  gender  /  race  etc Published  sta>s>cs  on  workforce  at  different  levels Aggressive  steps  to  achieve Recrui>ng  -­‐  mentoring  -­‐  encouraging Ajacking  ins>tu>onal  prejudice  and  barriers Agents  for  change  in  wider  society Tuesday, 3 September 13
  • •Individuals •Families •Teams •Communi0es •Wide  World Diversity  Makes  Life  Bejer Bejer  underwri>ng,  management,  marke>ng,  mo>va>on Tuesday, 3 September 13
  • Why Diversity Matters to Future of Insurance Industry Dr Patrick Dixon Chairman Global Change Ltd Tuesday, 3 September 13