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Sosu 2012 gender economics slide pack


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Diversity Sourcing: A new paradigm for Sourcers panel discussion with,

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Sosu 2012 gender economics slide pack

  2. 2. Diversity matters, more so in an increasingly connected world without borders. But how can organisations stay true to corporate policies and still deliver results? What are the pros and cons? What is an effective pathway to diversity nirvana? Three things to learn: -Why diversity sourcing strategies matters - Policy and process roadmaps for diversity sourcing - Customising sourcing functions based on diversity principles  After an introduction of the Panel members and an introduction to the discussion, I will talk about global EmergingTrends in Diversity and ‘Gender Economics’ .  We will discuss global talent expectations and the changes that have occurred significantly in the last two-three years with increased activity in gender recognition. The call for more women in leadership, and the recognition that gender diversity has an impact on economic outcome’s.  Diversity brings enormous benefits to increased revenue and market share.  Harvesting talent in a global and diverse environment recognises new forms of innovation and requires new forms of communication 2 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  3. 3.  ‘Why diversity sourcing strategies matter’ - a recent study in the US found that voters were typically choosing their Presidential candidates from only 6% of the available population. That is; white Anglo- Saxon male from a small selection of universities – it’s the ‘like for like’ stereotype.  Jude Martin’s subject of Diversity ofThought will explore innovation and creativity.  Our panel will discuss ‘Policy and process roadmaps for diversity sourcing’  Harvesting diverse talent which intersects gender, race and age will become increasingly important.  Recruiters will increasingly be required to both skill themselves, and to advise their clients to recognise unconscious bias and ways of mitigating it and Fiona will give us some great tips on how to do that  Vichel will tie these trends into managing diversity within sourcing organisations  Open up to the panel to address ‘Customising sourcing functions based on diversity principles’. 3 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  4. 4. “Diversity is not just about tolerating difference, it is also accepting, recognising and validating it with a full acceptance of the contributions that this difference brings” Susanne Moore 2012 4 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  5. 5.  Gender Economics an emerging field of study - first conference in Madrid Spain in 2008 as part of the COMMITTEEONTHE SITUATIONOF WOMEN IN ECONOMICS  “Economic empowerment is about making markets work for women (at the policy level) and empowering women to compete in markets (at the agency level).” (World Bank Group 2006). WBG will intensify gender mainstreaming  KristenGellibrand Democrat for the US Senate says “Women are an untapped economic engine in our economy”  U.S Secretary of State Hilary Clinton ‘tapping into the innovation and creativity of women’, and cites Boston ConsultingGroup survey 1“Women are indeed the world’s third largest “emerging market” after China and India. [The survey] concludes women will control $15 trillion in global spending by the year 2014 and by 2028 will be responsible for about two-thirds of all consumer spending worldwide.”  “Women want More’ (2009) by Boston ConsultingGroup partners, Michael J. Silverstein and Kate Sayre. Results show that women are dissatisfied with the products and services available to them in many categories, largely because companies misunderstand women’s issues and fail to answer their needs.  “TheAsia and Pacific region is losing $42 billion to $47 billion annually because of women’s limited access to employment opportunities, and another $16 – $30 billion as a result of gender gaps in education.” (ForbesWoman 2011)  The trend to recognise Gender Economics is gaining momentum and this means that employers need to address gender imbalance. 5 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  6. 6.  A 2007 Catalyst (US) study found that when Fortune 500 companies were divided into quartiles based on the percentage of women on their boards, the top quartile companies outperformed the bottom quartile by 42 to 66% across a range of financial indicators.  A recent McKinsey survey found that of companies that had made efforts to empower women in emerging markets, 34% reported increased profits, and another 38% said they expected to see profit as a direct result of those efforts.  Women make up more than half the world population, yet are the most under represented in leadership positions. 6 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  7. 7.  “Firms with at least one woman on their board outperform rivals with no women at the top table”  “Overall, blue-chip organisations with at least one woman on the board have outperformed rivals without women at the top table by 26% over the last six years.”  “Those with female directors outperform on share price, show a greater return on equity and tend to have less debt.”  “The difference made by women has been especially notable during the financial crisis, with stocks with women on the board surging ahead of others."  Stefano Natella, co-head of securities research and analytics, says: “Greater gender diversity is a valuable additional metric to consider when evaluating investments.The results of our analysis are irrefutable and for the first time offer a global view of this topic.” 2 August 2012 Grapevine HR 7 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  8. 8. Indirect - as consumers • Fashion pressure • Film &Television • Media representations • SocialConditioning Direct - as decision makers • Corporate leaders • Wage Parity • Policitical influencers 8 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  9. 9.  Gender Diversity = flexibility is too simplistic  Diversity consulting opportunities on the rise  Many larger organisations are leading the way with proactive and creative diversity programs. Westpac, KPMG, Deloitte, Ernst & Young, IBM  Lagging behind other countries in gender equality (UK, US and Europe) are often shocked by discrimination faced  Political legislation does not match rhetoric. Maternity leave legislation not conforming to UN – vILO guidelines.  Lack of quality childcare still limiting and part time jobs hard to find when women return to the workforce  No hard and fast metrics to prove increases in productivity and bottom line profit.  Our geographic isolation shields us from full recognition of global economy and hinders innovation.  Diversity pools much larger overseas due to geography and necessity.  Intersection of ethnicity, gender and age are still barriers to many women. 9 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  10. 10. “The effectiveness (or otherwise) of organisational gender diversity program’s on profit” Many organisations are undertaking Diversity programs in a bid to attract and retain the right people, they want to harvest a diverse talent pool which includes ethnic groups, GenY and Gen X as well as tapping into talent in the aging population. However, my study will only focus on Gender Diversity Programs, particularly around the design of environments where women thrive and are encouraged, and able to progress to senior leadership roles.This is the first part of the study to test the theory and viability of further research into Gender Economics and Diversity Economics. Currently there is limited information on the success of these programs and very few metrics exist that can be substantiated. The aim of the study is to observe organisational Gender Diversity Programs that are in flight and will work to develop metrics that can be represented on balance sheets in the future. Copyright Susanne Moore 2012 10 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  11. 11.  Current measures revolve around recruitment, retention and promotion metrics.  Numbers of women on boards as %  Women in the career pipeline  In leadership roles / levels of management  Retention (and return) rates  Quota’s, key performance of managers to promote women  Interview statistics 11 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  12. 12.  The world is changing. We live in a global world of talent where Diversity and Gender Economic’s matter  Global economies are recognising women are the key to innovation and creativity– the ‘economic engine to the economy’  viiDiversity ofThought will open up new possibilities  Reducing unconscious bias in our screening practices and the interview room to minimise ’stereotype threat’ will provide greater access to talent.  The right people for the role are so often not recognised because of gender naturalisation, gender stereotypes and masculinised language – we need to viii ‘reframe’ the way we look at people  Sourcing practices are changing in line with current trends in social media and international career networking  How will diversity within sourcing organisations be managed to keep pace with the ChangingWorld 12 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  13. 13. i.Committee on the Situation ofWomen in Economics holds the yearly conference on Gender Economics in Madrid Spain. ii.(Gender Equality as Smart Economics: AWorld Bank Group Gender Action Plan (Fiscal years 2007–10), 2006) iii.Kirsten Gillibrand show-to-discuss-womens-economic-empowerment iv.Hilary Clinton in Forbes Women 10/14/11 A Solution For A Struggling Global Economy: Gender Equality global-economy-gender-equality/. In 2011 Clinton chaired the first-ever Asia-Pacific Economic Cooperation (APEC) High-Level Policy Dialogue on Women and the Economy. v.Sayre, Michael J. Silverstein and Kate ( 2009) “Women Want More: How to CaptureYour Share of the World’s Largest, Fastest-Growing Market”, NewYork, Harper Business. vi.CatalystThe Bottom Line: Connecting Corporate Performance and Gender Diversity, gender-diversity vii.McKinnsey in Forbes Women 2011 viii.Grapevine HR - Gender diversity improves company performance, says Credit Suisse performance-says-credit-suisse/ 13 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013
  14. 14. ix.International Labour Organisation international-labour-standards/maternity-protection/lang--en/index.htm x.Research Project xi.Diversity ofThought - Jude-Martin Etuka xii.Simard, Caroline and Gammal Denise (2012) “Solutions to RecruitTechnical Women in Anita Borg Institute. Women.pdf xiii.Eric Knight (2012) “Reframe How to solve the world’s trickiest problems” 14 of 14Presentation by Susanne Moore, Gendereconomics.com20/09/2013