Next Generation Diversity & Inclusion: Profitable, Sustainable, Global Edward Jones | October 12, 2011 Andrés T. Tapia Pre...
From the cacophony of Lima, Peru  To, the wheat fields of Harrington, Washington PERU
The World Is Not Flat It’s Upside Down…
An Upside-Down World—Meta Trends <ul><ul><li>An African American Is U.S. President  </li></ul></ul><ul><ul><li>To Be Young...
<ul><ul><li>To Be an Economic Superpower Is to Be a Declining Power </li></ul></ul><ul><ul><li>To Be a Developing Nation I...
How do we prepare our leaders? In a Post… Post… Boomer Post… American Post… Modern 911 Post… Economic boom… Post…
 
Economy Politics Workplace
<ul><ul><li>In 1950 90% of the US was white; by 2040 only 50%. Already 30% of US racial/ethnic minority “Minority” represe...
United States <ul><ul><li>Black: $921 billion. 8.7% of the nation's buying power </li></ul></ul><ul><ul><li>Latino: $1 tri...
People of color and women crashing through previous barriers United States
<ul><li>This year more women in labor force than men </li></ul><ul><li>More women getting advanced degrees </li></ul><ul><...
Source: http://pewhispanic.org/states/population/ Latinopalooza
<ul><li>25% of the US by 2025 </li></ul><ul><li>1/3 of residents in California </li></ul><ul><li>Half of babies born in Te...
<ul><ul><li>Über-flexible </li></ul></ul><ul><ul><li>Iterative </li></ul></ul><ul><ul><li>Simultaneously Independent and C...
Trends and Characteristics that Shape the Emerging Workforce
 
Impact of Diversity on Team Performance Reference:  Adler, N. J. International Dimensions of Organizational Behavior. 4th ...
To Sustainable Diversity
Who Does the Work Culture—What We Believe and Why What We Sell How We Run the Business Culture—What We Believe and Why Bus...
To… Crosscultural  Competence From… Tolerance and Sensitivity
d  ability  2  discern  n   taK   N2   acct  one’s own  n  others’  wrld  views  2B   abL   2   cz   opertntys ,  mke  dec...
Copyright © 2010 Hewitt Associates LLC Implications for Benefits Different Money Worldviews
Hewitt Analysis of How Culture Affects Long-Term Savings Behaviors Race  Salary  Gender  Tenure  Age  Balance AVERAGE  CON...
Ethnicity Drives Plan Behaviors Copyright © 2010 Hewitt Associates LLC 2% 21% 81% 72% 8% 77% White 2% 16% 67% 73% 9% 76% A...
Copyright © 2010 Hewitt Associates LLC Ethnicity Drives Plan Behaviors 2% 21% 81% 72% 8% 77% White 2% 16% 67% 73% 9% 76% A...
Participation Contribution Rates % in Equities Internet Usage Loans Withdrawals African American Hispanic Asian Regression...
<ul><li>What does  “ long term ”   mean? </li></ul>
I
la familia nosotros el equipo
Tame the Wild West Pull yourself up by your bootstraps God helps those who help   themselves
que sera, sera Dios quiere God willing ¡El avión nos dejó! What will be, will be The plane left us!
I am a member of Second Baptist,  Hycel B. Taylor, Pastor I am an Alpha Phi Alpha I am an Alpha Kappa Alpha
<ul><li>Picture this … </li></ul>
Copyright © 2010 Hewitt Associates LLC
Copyright © 2010 Hewitt Associates LLC
Copyright © 2010 Hewitt Associates LLC
Copyright © 2010 Hewitt Associates LLC
Copyright © 2010 Hewitt Associates LLC
Copyright © 2010 Hewitt Associates LLC
Copyright © 2010 Hewitt Associates LLC
Copyright © 2010 Hewitt Associates LLC Crosscultural Competence
<ul><li>Is It Really An Option for Edward Jones  Not  to Make Diversity and Inclusion One of your Highest Priorities?  </l...
It’s in Edward Jones’ DNA:  A Culture of Caring and leaving individuals better since we met them
It’s time to re-listen to the Genius of Ted Jones: The  Overlooked  Communities
Overheard at Jim Weddle Townhall Embracing differences makes us collectively stronger It makes our work better Right thing...
And does anyone  really  know what young people want?
¡Gracias!
inclusionparadox.com twitter.com/AndresTTapia
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Edward jones oct2011

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  • To be a minority is to be a majority To be young is to be experienced To be a developed country is to be on the decline To be a developing country is to be on the ascent To be disabled is to be differently abled Alternate video versions http://www.youtube.com/watch?v=wQFTUJK9TkI http://www.youtube.com/watch?v=PHmwZ96_Gos&amp;feature=related
  • Edward jones oct2011

    1. 1. Next Generation Diversity & Inclusion: Profitable, Sustainable, Global Edward Jones | October 12, 2011 Andrés T. Tapia President Diversity Best Practices Visit www.inclusionparadox.com www.diversitybestpractices.com Follow diversity trends & insights: http://twitter.com/AndresTTapia
    2. 2. From the cacophony of Lima, Peru To, the wheat fields of Harrington, Washington PERU
    3. 3.
    4. 4. The World Is Not Flat It’s Upside Down…
    5. 5. An Upside-Down World—Meta Trends <ul><ul><li>An African American Is U.S. President </li></ul></ul><ul><ul><li>To Be Young Is to Be Experienced </li></ul></ul><ul><ul><li>To Be a Minority Is to Be a Majority </li></ul></ul><ul><ul><li>To Be a Woman Is to Be Rising in Opportunities </li></ul></ul><ul><ul><li>To Be Disabled Is to Be Differently Abled </li></ul></ul>
    6. 6. <ul><ul><li>To Be an Economic Superpower Is to Be a Declining Power </li></ul></ul><ul><ul><li>To Be a Developing Nation Is to Be on the Ascent </li></ul></ul><ul><ul><li>Americans Are the “Locals” </li></ul></ul><ul><ul><li>Newspapers are Becoming Obsolete </li></ul></ul><ul><ul><li>Technology Is Not a Tool, but a Way of Life </li></ul></ul>An Upside-Down World—Meta Trends
    7. 7.
    8. 8. How do we prepare our leaders? In a Post… Post… Boomer Post… American Post… Modern 911 Post… Economic boom… Post…
    9. 10. Economy Politics Workplace
    10. 11. <ul><ul><li>In 1950 90% of the US was white; by 2040 only 50%. Already 30% of US racial/ethnic minority “Minority” representation today by age bracket: 41 yrs or older – 23% 40 yrs and younger – 35% 10 yrs and younger – 40% </li></ul></ul><ul><ul><li>Starting in 2008, 70% of new entrants into the workforce have been women and minorities </li></ul></ul>United States
    11. 12. United States <ul><ul><li>Black: $921 billion. 8.7% of the nation's buying power </li></ul></ul><ul><ul><li>Latino: $1 trillion; 9.6% of the nation's buying power, up from 5.2% in 1990 </li></ul></ul><ul><ul><li>Asian-American: $526 billion in 2008; 5% of the nation's buying power </li></ul></ul><ul><ul><li>LGBT: $615 billion, a cumulative increase of more than 34% from 2002 figures </li></ul></ul>Estimated Buying Power in 2008
    12. 13. People of color and women crashing through previous barriers United States
    13. 14. <ul><li>This year more women in labor force than men </li></ul><ul><li>More women getting advanced degrees </li></ul><ul><li>“ 18 million cracks in the glass ceiling” </li></ul>
    14. 15.
    15. 16. Source: http://pewhispanic.org/states/population/ Latinopalooza
    16. 17. <ul><li>25% of the US by 2025 </li></ul><ul><li>1/3 of residents in California </li></ul><ul><li>Half of babies born in Texas </li></ul><ul><li>9 of 10 newborns in New Orleans </li></ul><ul><li>35% of those in the US who are under 18-years-old </li></ul><ul><li>Half of the US population growth since 2000 </li></ul><ul><li>41% of Chicago’s public school students </li></ul>Copyright © 2010 Hewitt Associates LLC Latinopalooza
    17. 18. <ul><ul><li>Über-flexible </li></ul></ul><ul><ul><li>Iterative </li></ul></ul><ul><ul><li>Simultaneously Independent and Communal </li></ul></ul>
    18. 19. Trends and Characteristics that Shape the Emerging Workforce
    19. 20.
    20. 22. Impact of Diversity on Team Performance Reference: Adler, N. J. International Dimensions of Organizational Behavior. 4th ed. Cincinnati, OH: South-Western, 2002. Effectiveness in creative tasks Monocultural Teams Multicultural Teams Multicultural Teams Less + + + + + + + + c. Milton J.Bennett, 2008 Average Performance Leader ignores or suppresses cultural difference Cultural difference an obstacle to performance Leader acknowledges & supports cultural difference Cultural difference an asset to performance More
    21. 23. To Sustainable Diversity
    22. 24. Who Does the Work Culture—What We Believe and Why What We Sell How We Run the Business Culture—What We Believe and Why Business Business Case Impact on products and services Operations Business Case Impact on internal systems and processes Talent Business Case Impact on talent (engagement, retention, advancement, etc.)
    23. 25. To… Crosscultural Competence From… Tolerance and Sensitivity
    24. 26. d ability 2 discern n taK N2 acct one’s own n others’ wrld views 2B abL 2 cz opertntys , mke decisions, n resolV conflicts n wAz dat optimize cultural diffs 4 btr , longA lastin , &mre cr8tive soln’s . Crosscultural Competence The ability to discern and take into account one’s own and others’ world views to be able to seize opportunitie s, make decisions , and resolve conflicts in ways that optimize cultural differences for better , longer lasting , and more creative solutions .
    25. 27. Copyright © 2010 Hewitt Associates LLC Implications for Benefits Different Money Worldviews
    26. 28. Hewitt Analysis of How Culture Affects Long-Term Savings Behaviors Race Salary Gender Tenure Age Balance AVERAGE CONTRIBUTION RATE AVERAGE % IN EQUITIES INTERNET USAGE 1 2 3 4 5 N/A 1 2 3 5 4 N/A 1 N/A 3 4 5 2 1 2 N/A 3 N/A N/A 1 3 3 6 5 2 Copyright © 2010 Hewitt Associates LLC PARTICIPATION % W/LOANS & WITHDRAWALS OUTSTANDING
    27. 29. Ethnicity Drives Plan Behaviors Copyright © 2010 Hewitt Associates LLC 2% 21% 81% 72% 8% 77% White 2% 16% 67% 73% 9% 76% Asian 8% 39% 51% 66% 6% 66% African American 3% 29% 67% 70% 6% 65% Hispanic Percent with Loans Outstanding Percent Taking a Withdrawal Average Percent in Equities Average Contribution Rate Internet Usage Participation More financial security Less financial security
    28. 30. Copyright © 2010 Hewitt Associates LLC Ethnicity Drives Plan Behaviors 2% 21% 81% 72% 8% 77% White 2% 16% 67% 73% 9% 76% Asian 8% 39% 51% 66% 6% 66% African American 3% 29% 67% 70% 6% 65% Hispanic Percent with Loans Outstanding Percent Taking a Withdrawal Average Percent in Equities Average Contribution Rate Internet Usage Participation More financial security Less financial security
    29. 31. Participation Contribution Rates % in Equities Internet Usage Loans Withdrawals African American Hispanic Asian Regression-adjusted comparison of 401(k) behavior (relative to Whites) Copyright © 2010 Hewitt Associates LLC 13% -7% 36% -20% 11% -2% -7% -9% -15% 56% 47% -9% -7% -24% -32% 89% 171%
    30. 32. <ul><li>What does “ long term ” mean? </li></ul>
    31. 33. I
    32. 34. la familia nosotros el equipo
    33. 35. Tame the Wild West Pull yourself up by your bootstraps God helps those who help themselves
    34. 36. que sera, sera Dios quiere God willing ¡El avión nos dejó! What will be, will be The plane left us!
    35. 37. I am a member of Second Baptist, Hycel B. Taylor, Pastor I am an Alpha Phi Alpha I am an Alpha Kappa Alpha
    36. 38. <ul><li>Picture this … </li></ul>
    37. 39. Copyright © 2010 Hewitt Associates LLC
    38. 40. Copyright © 2010 Hewitt Associates LLC
    39. 41. Copyright © 2010 Hewitt Associates LLC
    40. 42. Copyright © 2010 Hewitt Associates LLC
    41. 43. Copyright © 2010 Hewitt Associates LLC
    42. 44. Copyright © 2010 Hewitt Associates LLC
    43. 45. Copyright © 2010 Hewitt Associates LLC
    44. 46. Copyright © 2010 Hewitt Associates LLC Crosscultural Competence
    45. 47. <ul><li>Is It Really An Option for Edward Jones Not to Make Diversity and Inclusion One of your Highest Priorities? </li></ul>
    46. 48. It’s in Edward Jones’ DNA: A Culture of Caring and leaving individuals better since we met them
    47. 49. It’s time to re-listen to the Genius of Ted Jones: The Overlooked Communities
    48. 50. Overheard at Jim Weddle Townhall Embracing differences makes us collectively stronger It makes our work better Right thing to do but also a business imperative Hispanics as investors: Average age 46 – middle of he peak of asset accumulation years Nearly ½ Hispanics are homeowners; 3 out of 4 working; average net worth just under $200,000 Various groups of color value personal approach Purchasing power among African Americans increased 86% over past 10 years African Americas tend to save more for college and home than for retirement 86% purchasing decisions made by women. They are no longer only the wives of the men who manage the family finances. WINGS: more than half Financial Advisor net growth in 2010 was women
    49. 51. And does anyone really know what young people want?
    50. 52. ¡Gracias!
    51. 53. inclusionparadox.com twitter.com/AndresTTapia

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