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Prepare for recession through inclusive people practices
- 1. Welcome! Walk around and find a table with a topic you want to focus on todayTopics are: • How to prepare for a recession through your people • How to go through a restructure and maintain diversity and trust • How to enable people to reveal their full selves in your organization so they can bring their best to work
- 2. Connect.Innovate.Lead. Hidden Pieces of the D& Puzzle Vice President, Client Solutions Sonya George Senior Implementation Consultant Bendik Wilhelmsen
- 3. Sonya George Vice President, Client Solutions Bendik Wilhelmsen Senior Implementation Consultant
- 4. Discuss on your tables: What does D&I mean for you? • It’s the right thing to do • It’s a business imperative • It boosts agility and innovation • It’s a trendy term
- 5. Our mission is to build a better world by helping organizations become great
- 6. Methodology Innovation By All Values Financial Growth Maximizing Human Potential Leadership Effectiveness Trust
- 7. Companies with consistently inclusive workplaces thrived before, during and after the Great Recession 0 20 40 60 80 100 120 140 160 180 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 AdjustedClose Thrived SP500
- 8. What are the keys to thriving?
- 9. Wayne Boatwright MHA, CDM Vice President of Diversity and Inclusion Hackensack Meridian Health Dr. Akilah Cadet Founder + Executive Coach Change Cadet Dee C. Marshall CEO Diverse & Engaged Cam Snaith Principal & Co- Founder Bleeker
- 10. Puzzle Piece #1: Equity is a business strategy
- 11. Key employee groups function as bellwethers
- 12. Puzzle Piece #2: Restructuring events make or break your success
- 13. Restructurings are high-pressure events that leads people to do what they think is “safe”
- 14. Restructuring tends to grow the gaps
- 15. Puzzle Piece #3: Low trust begets low trust
- 16. When people don’t trust, they share less, making it more difficult to know them and build trust
- 17. No wonder! I don't have full trust in our HR department. I would not share confidential information with them because I do not feel it would stay confidential. There should not be retribution for speaking up and there should be required change and follow up to these dated and out of touch behaviors. This behavior is also holding us back as a company. How can you trust a system/business that rewards its malicious employees…? It’s quite discouraging for those who are aware of the offense.
- 18. Where to start?
- 19. Recession: Almost all analysts agree the US is headed toward a recession in the next 6-9 months. How do you prepare your organization for what's to come? Restructuring: Your organization just merged with another and your headcount has now doubled. What is your change management approach for a successful merger? Reveal: 1 out of 4 employees aren't revealing parts of who they are on your organization-wide survey. And there is water cooler talk that certain underrepresented groups feel marginalized. What do you do? •What would be your ideal state? •What are you solving for, keeping in mind diversity and inclusion goals? •Who are the players? Who are the decision makers? •Which groups are the most affected? •What are your hurdles? •How are you moving toward positive change? As you think about your approach, please keep in mind the following:
- 20. Sit back, think, reflect, form the thoughts you’ve gathered from the table. Write down your thoughts (don’t talk) • What have you learned? • Has your point of view changed? If so, how? Pause and reflect
- 21. Turn to the people next to you – keep it to groups of 2-3 • Who will you talk to in your organization about the insights you’ve gained here? • What will you do when you go back to your organization?
- 24. Our mission is to build a better world by helping organizations become great
- 25. Tweetable Takeaways @GPTW_US You can have the cake and eat it to. Equity pays off immediately and helps insulate you from recessions. #GPTW4ALL @GPTW_US People who don’t trust won’t share their full selves. Not being their full selves dims their light. #GPTW4ALL @GPTW_US What you think is “safe” hurts you. We lean on our biases when we are put under pressure, which reinforces inequality. #GPTW4ALL @GPTW_US
- 26. Thank you!
Editor's Notes
- Session start: 1:15pm. Time at end of slide: 1:20
- Housekeeping. What you’re Reflect Insights to Great Place to Work pov Stats and data Hear from engaged men and women in this space Take accountability for themselves Because hidden pieces tends to stay hidden you’ll be pushed to be vulnerable.
- Introduce ourselves. Vulnerable story. Remember to say that we’ll get great guests later.
- Turn thought starters into one-two word point. Groups of 2-3. Making sure traditionally overlooked groups of people are given the same opportunities as everyone else, because it’s the right thing to do There is a business imperative to get the best out of everybody, regardless of who they are Diversity in people, experiences and points of view helps us stay innovative and competitive Time: 1:25pm
- This is what we call the FOR ALL Model. Trust has been our foundation for as long as Great Place to Work has been around. A workplace culture based on trust is enabled by strong values. And we don’t mean values that are printed on a piece of paper and hung in the bathroom, or posted on the company intranet surrounded by inspirational photos. We mean a sense of care for each other, and a worldview based on wanting to make it a better place – for everyone, but also each other. That means that people recognize that everyone matters in the company and makes sure to enable that, by being highly inclusive. It also means a sense of purpose for the company that everyone feels connected to. All that needs to be enabled and reinforced by effective leaders on all levels. When you have that foundation of trust for everyone in your company, it enables people to maximize their potential, because they can actually be themselves and share what they care about and know. They can bring their full selves to work! When people know they are safe and can share their thoughts it leads to innovation as well. Innovation by all! All that also obviously leads to financial growth. The thing is, though, that often times, companies think they are creating a company culture like that. But that’s just because they are just looking at the people around them, and are only talking to the people they feel really comfortable with. So even if companies think they are thriving and have an innovative culture, they most often do not.
- And people’s experiences predict financial success – especially the experiences of people in some key groups. Through our research, we’ve found that companies who were able to enable a FOR ALL culture, even for the groups who normally don’t have that experience are THRIVING. While the S&P 500 suffered a 35.5 percent decline in stock performance from 2007-2009, companies whose key employee groups had very positive experiences posted a remarkable 14.4 percent gain. Companies with consistently inclusive workplaces thrived before, during and after the Great Recession, earning a 4x annualized return.
- We’ve found some h Hidden pieces of the puzzle, and the thing about discovering hidden pieces is that you know there’s more. So we’re not here to give you ALL the ingredients to the magic sauce, but we do know that the ingredients we share with you today are all critical components of it. Time: 1:35pm Change puzzle to the one from the report
- Double-down on equity efforts to prepare for great performance in a recession. Capitalize on the people who’s already there.
- Often-marginalized employees like women, people of color, front-line workers, hourly male workers and long-tenured employees turn out to be bellwethers when the business climate turns bad. The thing about often-marginalized employees is that they are often the ones that are the closest to the revenue-generating activities in the business. And they are harmed first during a recession, and are also usually passed over when times are good. In other words – they turn into bellwethers. They are the first to come when times are looking up, but they are the first to go when times are bad too. Companies who truly value all employees as a key part of their business strategy are insulated much more against the effects of a recession as well! Question for Cam: Bendik talks about bellwethers - marginalized employees who are the closest to the revenue-generating sausage making within organizations…front-line employees like maid services, sales associates, technicians, etc. Why is it that in good times, they are being hired by the boatload, however, in challenging times, they are usually the first to go or experience challenges like reduced salaries, hours, work conditions, etc. How important is it to avoid this…have you seen companies doing this well? How so…? Question for Akilah: When preparing for a recession, you typically see funding for diversity initiatives among the first to be slashed. However, reflecting on our ForAll Model, the ability to unlock and tap into the full human potential of ALL employees, especially underrepresented diverse groups, will slow down the innovative environment all companies are looking to achieve. What are we missing? How do we get leaders, who are decision makers, to understand the importance of tapping into these individuals, especially in the time of economic hardships?
- Restructuring is a critical moment to preserve and improve equity. Gaps in experiences grow in companies that engage in corporate restructuring, specifically mergers and acquisitions, divestitures, and layoffs.
- Leaders usually are looking to grow profits, not differences. But unconscious bias may color decisions around reorganizations and resulting job changes. And biases come forth much more easily when people are put under pressure. It’s “easy” to be unbiased when you have time and headspace to mind your bias – you can recognize it, rectify it and move forwards. When you don’t have time, are stressed out and put under a lot pressure, you don’t have time for that, and rather trust your instincts. It turns out though, that instincts are usually biased.
- And it only took one event to see the larger gap. With just one layoff, merger, or divestiture, the gap grows. People will instantly QUESTION FOR WAYNE: Your organization has gone through many smaller acquisitions, however, back in 2016, you encountered a major merger between Hackensack University Medical Center and Meridian Health to become Hackensack Meridian Health…a merger of two very powerful healthcare systems in the North East. Your leaders are really focused on an equitable approach to this change and I know you are leading the charge around the impact D&I will have on stabilizing the newly formed company. What has been your biggest challenge? Additionally, what successes are you looking forward to in the near term? As you continue to settle your organization over the next few years, how are ensuring that restructuring is done in a fair, equitable, and unbiased way?
- Discover how often your people choose not to reveal their full selves—so you can boost inclusion, growth and innovation.
- For every 10% of employees that chose not to respond, there was a 6-point decrease in a company's overall levels of trust, pride, and camaraderie. Find the graph from the report.
- Ax? What people write in their survey comments when they select ‘prefer not to respond.’ to a question about their identity. And no wonder why people aren’t always able to bring their full selves to work. These are some comments from employees who don’t feel like they can be themselves and who doesn’t trust their company. Question for ALL: Our Trust Index survey shows that for every 2 employees who identify as LGBT(Q) or someone with a disability, there are three who choose not to answer. More people are choosing to hide who they are to their organization…that is powerful. How can companies fully unlock the potential of their people if they don’t know who their people are? How can those individuals feel a sense of belonging when companies are overlooking the power behind the 3 who do not respond? Akilah: For the reveal question I am happy to provide insight as someone who lives with a disability.
- Time at end of slide: 2pm
- 20 min Convo 20 minutes. Create scenarios that really talk about how that makes you feel, how can it be done differently. Build off what Tony is building for the forum. Have the discussions in groups of 2-3. Don’t discuss across the whole table but turn to the people next to you. Who does it impact. Why is it important. How would you approach it. What is the ideal state Why is that the ideal state What are the hurdles How do you overcome?
- 2mins Time at end of slide: 2:33
- 10mins Time at end of slide: 2:43 Commitment and CTA in smaller groups accountability partners! Commit to check in with your partner(s) – put a checkin on your calendars! Be realistic. Make it something you can actually see yourself doing.
- 10mins Is anyone brave enough to reveal something about themselves here, and what your story related to that? Share what you are committing to. Be Vulnerable! REVEAL Yourself!! Time at end of slide: 2:40
- 5min We will crack this. You are the hope. Tip of the spear folks in the room. You’re the ones who will turn it around this decade. Time at end of slide: 2:45 Change image to something more inspirational. Plug for FOR ALL by 2030. this is the decade!
- Focus session Flash talk Add hashtags.