There are so many aspects of diversity discussed in the workplace, it can often be overwhelming. Employees lose focus when they feel nothing is being done to address pertinent issues. Managers, given quotas, may feel a job is complete having added an appropriate number of candidates. Most are now learning this only the beginning.

Inclusion is where you see results. Many new, or who do not practice, in the D&I space may question the difference between diversity and inclusion. 

Diversity is a numbers factor; it is who you are bringing into the company. While Inclusion is about the intangibles. To quote Professor Lisa Nishii from Cornell, it is “This idea of creating this kind of environment where people can be successful, where people feel valued in their work, a type of belonging”.

In “The Inclusion Imperative for Boards” Deloitte Insights; the authors state, “Teams perform better when they are both diverse and inclusive. There is less groupthink and more innovation.”[1] Boards when behaving as a team, can also replicate this pattern. In comparing low and high performing boards, high performing boards are more likely to exhibit gender balance and inclusive behaviors.

Inclusion has been found to produce higher financial results as well. Corporations operating with more inclusive cultures are deemed to produce thirty percent higher returns per employee than their competitors. They are also eight times more likely to achieve positive business outcomes. Which begs the question, if the benefits of inclusion can be seen so clearly 

“Why are the numbers of women and minorities within corporate America still so low in comparison to white men”? 

In a recent study by Korn Ferry Black CEOs have been some of the highest performing P&L Executives in Fortune 500 companies, yet they continue to be underrepresented. Since 1955 we have seen fifteen black CEOs in the Fortune 500; presently there are four. None of them are women. 

Women continue to face more arduous times in corporate America than men; minority women at an even greater scale. Having recently completed a D&I course which addressed the subject matter, I have focused on Women and Inclusion (re: Boards, Corporations, Mentoring, Networking etc.) in particular, what can be done to narrow the divide? Having conversations with former colleagues and continuing to study the subject matter, I identified key takeaways that were aligned. There were actions that proved critical in bringing about change in inclusion. When endorsed by both the individual and the corporation, an even greater impact on inclusion can be seen. 

FEBRUARY 25, 2020

DATE:

STEPHANIE GARLAND

WRITTEN BY:

Adopt a Plan for Corporate, Train Leaders – Stick to the Mission statement

Inclusion requires a commitment on behalf of the company that entails understanding the necessity to recruit outside what may be the normal team dynamic. Metrics for interviewing a diverse pool of candidates should be set in advance and made mandatory for all team members. Many firms adhere to the standard of requiring two women amongst their final pool, increasing chances of a female candidate being hired in the end. The standard is based on a study that was led by Stefanie K. Johnson of The University of Colorado Leeds Business School. 

Corporate America is beginning to care about metrics of diversity and inclusion as more firms and government agencies speak out about the topic every day. In October New York Comptroller Scott Stringer followed the NFL in adopting the Rooney Rule. This is a request made to fifty-six S&P 500 companies to consider female and minority candidates for every open seat on a board and for the position of CEO. His head of Diversity, Wendy Garcia, follows up with these corporations to ensure compliance. The Comptroller’s office is responsible for the third largest Pension fund in the country with Assets totaling $210.5bn.

Goldman Sachs CEO, David Solomon, recently announced the firm would no longer sponsor, take public, companies from the US or Europe that do not have at least one diverse candidate on their board. The plan is to be implemented this summer with a particular focus on women. 

As a woman with an engineering background, metrics are important to me. Within each business unit managers have the ability to evaluate subjects on a regular basis. Routine feedback can be positive from a developmental standpoint. However, managers should look at metrics in addition to feedback, such as developmental plans for each employee. Are people being developed and trained appropriately? Are they being mentored? Who is being promoted? Are there women amongst the group being promoted? Are there diverse candidates within the group? What does the development and succession plan look like? These metrics are all part of Inclusion.

Early Identification of High Performers

Studies show that women are promoted based on performance while men are promoted based on potential. Managers should look to identify high potentials early in their career. Strong performers should be put in leadership development programs, mentored and finally given sponsorship. This will hopefully lead to career paths with more senior leadership positions, highlighting an eventual path to board seats or the C-suite. 

Crucial support from Mentors /Sponsors

When asked what has made the most impact on their career, senior executives and CEOs agree that mentors and sponsors are imperative. They also agree that the timing of when they are introduced is crucial. For women, obtaining a mentor is even more critical when employed in male dominated professions where navigating organizational politics and networking may come into play. Sponsors, on the other hand, should be advocates for their protégés, willing to speak up for them, support their career development and “go out on a limb” when necessary. A very different role than mentoring, they should be willing to open the right doors. 

When choosing a mentee or protégé, many senior executives have a tendency to choose juniors that have the similar qualities, work in the same area, or that physically “look like them”, known as unconscious affinity bias. This unconscious bias can present a barricade to wider sponsorship, keeping diverse talent from ever reaching the C-suite. In addition, it actually hampers the growth of some executives, as many in leadership positions have later endorsed the “reverse mentoring process”. 

CORPORATIONS:

Be Proactive in Managing Your Career

There are certain traits that have been apparent in senior women / CEOs: (adaptable, determined, and resourceful/motivated). Think about your course of study and what you can pursue in the future. Focus on skills needed to be placed on the appropriate track.  

Female executives that are identified as would be high performers generally have a technical background. Forty percent of female CEOs had technical expertise in STEM, while twenty percent had backgrounds in business, economics or finance. These women were able to move up the corporate ladder due to their similar backgrounds with male counterparts and the ability to compete on an even keel. They were generally P&L leaders in key business areas where their performance far outweighed the factor of gender.

Network, Network, Network

Enough cannot be said about being proactive in building your network. It is a good idea to maintain contacts from across various times throughout your career. As important is how you engage your contacts. Be courteous, communicate effectively, and be respectful of others time. Everyone is busy, certainly as careers progress, but it is generally a good rule to follow-up with colleagues when the time allots. You never know who may be of help / service one day. 

Ask for Help /Increase your Prescience 

Seek feedback when needed and often. Top performers are agile (always learning and making adjustments where necessary). Don’t stick with the old adage that feedback only has to come from within your team. If your manager isn’t proactive confer with others outside of your group. This is where metrics come into play. Learn to identify your weaknesses, be willing to uncover blind spots and strengthen your skillset. Give yourself a timetable for improvements with additional check-ins with your manager or a mentor. Enhance product knowledge (be willing to attend seminars, call experts within your chosen field etc.). Increase your prescience and value within your group by focusing on key business areas and becoming an expert in that space. Attempt to make yourself invaluable within your corporation. 

These are three integral, but important steps, that corporations and women can administer to lessen the gender divide that exists today. This problem needs acknowledgment on both sides to have a large impact in a relevant time frame. The benefits of inclusion have been made time and again. With initiative on both sides, we will hopefully begin to see a greater change in numbers of women in corporate America and improvement in inclusion.



[1] Fucci/Cooper PhD., “The Inclusion Imperative for Boards: Redefining boards responsibilities to support organizational inclusion”; April 2, 2019

WOMEN: