Posted June 21, 2017 by

Leveraging diversity: CEO Faith Rothberg presents 8 organizations who are succeeding [video and slides]

 

There are more men named John and David who run big companies than all the women who run big companies.

College Recruiter CEO Faith Rothberg has a problem with this, and made a point of offering solutions at this year’s National Association of Colleges and Employers conference. In the video below, Rothberg highlights eight organizations who are leveraging diversity to impact their customer numbers, workplace culture and profitability.

Watch Rothberg’s presentation, and find links to her examples below, along with major takeaways.

Study after study prove the business case for gender diversity. Increased gender diversity positively impacts productivity, innovation, decision-making, and employee retention and satisfaction. In fact, companies with the highest rates of gender diversity make more than 13 times average sales revenue than companies with the lowest gender diversity. Similarly, those gender diverse companies pull in an average of 15,000 more customers.

The amount of gender diversity varies by industry and role. Medical and health services managers, for example, are actually more likely to be women than men, as are human resources or social service managers. But only 36% of management occupations are filled with 50% women. That includes marketing and sales, operations, transportation, information systems and much more.

Here are eight companies leading the way to increase gender diversity

  1. Aramark became a Catalyst partner of Women’s Foodservice Forum.
  2. Bank of America has invested in LEAD for Women, an employee resource group dedicated to women’s professional development. About half of managers and executive management team are women.
  3. Enterprise Rent-A-Car named Pamela Nicholson as CEO in 2013. She joined the company 32 years ago as a recent grad.
  4. Ernst & Young opens up dialogue between men and women via Inclusiveness Steering Committees, encouraging candid discussions about critical issues and experiences, and establishing mentoring and sponsorship initiatives. They’ve increased the number of women in top management by 20%.
  5. (Two orgs here): Goldman Sachs and U.S. Department of State partner to leverage the expertise of the public and private sectors to encourage inclusive economic growth in the Middle East and Northern Africa.
  6. IBM developed task forces that focus on understanding differences and finding ways to appeal to more employees and customers. Revenues from small and midsize businesses dominated by minority and female buyers increased from $10 million to $300 million.
  7. Quicken Loans routinely ranks among the best U.S. companies for both diversity and overall company culture. Women fill 45% of all jobs and 43% of management jobs.

Takeaways from Rothberg:

  1. Diversity and inclusion goes beyond race. It includes ethnicity, sexual orientation, religious affiliation, generation, disability, personality type, thinking style, and gender.
  2. Leverage that diversity to produce better products and services.
  3. Use variety of practices including mentoring, employee resource groups, multicultural talent management, strategic partnership development, and e-learning.
  4. Senior leaders must seek diversity, create inclusion, and drive accountability.
  5. Promote cognitive diversity. Embrace differing perspectives, interpretations. Overcome unconscious bias and culture that inhibits the sharing of different opinions.

Download Rothberg’s PowerPoint slides here.

 

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