Diversity is a Business Imperative

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(No Transcript)
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Diversity is a Business Imperative

• Corporations are increasingly embracing diversity
  as a sustainable and strategic initiative.
• No longer the nice thing to do, but the right
  thing to do!
• Their client executives are more diverse
• Their business is more global
• As they look for growth, they are attempting to
  attract a diverse client base
• Diversity in ideas and thought are required to
  market effectively in an Internet age

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Some have figured it out!
Top ten from DiversityIncs 2008 Top 50
Companies for Diversity

• 1. Verizon Communications
• 2. The Coca-Cola Co.
• 3. Bank of America
• 4. PricewaterhouseCoopers
• 5. Procter Gamble
• 6. Cox Communications
• 7. Merrill Lynch Co.
• 8. Johnson Johnson
• 9. IBM
• 10. American Express

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Some have figured it out!
2008 Trends for Recruitment
Top 10 Workforce
Top 50 Workforce
National Workforce
Percentage of Black, Asian, Latino and Native
Americans in the workforce
DiversityInc 2007 Percentages from Equal
Employment Opportunity Commission (EEOC)
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What about the rest?
On Diversity, America Isnt Putting Its Money
Where Its Mouth Is At a time when Americans are
congratulating themselves for having a diverse
field of political candidates, their business
leadership still doesnt equally value diverse
employees and managers. In fact, progress for
women and minorities in terms of both pay and
power has been stalled or regressed at many of
the nations biggest companies. This inequality
shapes perceptions about who can or should be a
leader.

Carol Hymowitz Wall Street
Journal, February 25, 2008
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But levels of power and pay still exist!

• Power
  Players
• Corporate Officers at Fortune 500 in 07
• Women 15.4 (down from 16.4 in 05)
• Women of Color 2
• Men
• White Men 83.5
• Men of Color 6.4
• CEO Level at Fortune 500
• Black 4
• Latino 4
• Asian American 5
• Women 13

Catalyst (2007) DiversityInc Magazine (2007)
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But levels of power and pay still exist!

• Pay Discrepancies
• Minority Men vs. White Men
• Black Men Earn 74
• Latino Men Earn 58
• Women vs. White Men
• Asian American Women Earn 78
• White Women Earn 73
• Black Women Earn 63
• Latino Women Earn 52

Bureau of Labor Statistics (2005)
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The Results

• Increased turnover
• Poor morale (HiPo to PoPo)
• Disengaged workforce
• Increased recruiting cost
• Possible client satisfaction issues
• Poor return on investment, causing many to
  question validity of Diversity!

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Forces the Impact Success

• Executive Leadership Council Study A Blueprint
  for Success
• Interview 55 ELC members
• Ages 37-65 (Avg. 48)
• Salary 100K to 700K

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Some Major Success Factors
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90
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70
60
50
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Women face even more challenges

• Catalyst report identified 5 major barriers
• Lack of significant general management or PL
  opportunities
• Exclusion from informal networks (boys club,
  golf, ,etc.)
• Stereotypes and Preconceptions
• Failure of senior leadership to assume
  accountability for womens advancement.
• Bias toward personal or family responsibilities
• Stereotyped as too emotional not tough enough
  or not competitive
• When in reality, women bring unique skills to the
  workplace
• More Intuitive Can be better forecasters of
  future trends
• More Flexible Easily make adjustments in
  management style
• More Nurturing Better attuned to the needs of
  their people, and better at developing their
  people
• Better Communicators More responsive to giving
  and receiving feedback

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How do most companies address the problem?

• Increase Minority Recruiting
• Focus on Performance
• Mentoring Programs
• Entitlement Affinity Groups
• Pray

• All goodbut good is not enough!

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How does a minority professional advance?
I had complete control over what I could do for
myself! I set out not to change corporate
America, but to understand how I needed to change
my behavior, approach, and image to better
position myself for successThis transformation
didnt come about because my IQ suddenly jumped
to Mensa statusIt happened because I came to
realize there was a process to getting
recognized, rewarded, and promotedAnd it
happened because I took the time, effort, and
energy to develop myself in areas that would make
me a more attractive candidate for
advancement.

Keith R. Wyche Good is
Not Enough
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P.E.P.? Can Make the Difference!
Most professionals understand the importance of
performance, but they often overlook the impact
of exposure and perception!
Performance is the key, but exposure and
perception unlock the door!
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P.E.P.? up your Performance

• Performance (50)
• Understanding what is valued
• Understanding/ documenting what is expected
• Documenting/ reporting on what has been
  accomplished
• Requesting/ receiving timely feedback!

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Corporate Culture is Critical

• Tips for handling culture before you sign on
• Understand where you will fit
• Do general research to learn all you can about
  the company (happy employees, employee diversity,
  senior leadership diversity, professional
  endorsements)
• Check with your network
• Have an exit strategy in case the position is not
  a fit

Performance
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Avoid these Career Killers

• Unethical behavior
• Career derailment
• Not understanding or documenting performance
  expectations
• Not demanding and/or accepting feedback guidance,
  and direction
• Not being able to quantify your value to the
  organization
• Not understanding and developing critical
  leadership skills

Performance
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Practical Example Be Prepared for Your Internal
Interview or Performance Appraisal!

• Document against goals and objectives ALL year
  long and quantify your accomplishments
• If possible, write your appraisal and share it
  with your manager
• Known entities need more preparation, not less
• Have a plan for addressing challenges in your job
• Never stop demonstrating your interest by
  attending educational activities relevant to your
  role

Performance
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Minorities Be Mentally Prepared

• Be mentally prepared to both do the job AND to
  deal with the fact that colleagues and clients
  may have an internal bias against your
  leadership role
• Are you a unique minority of one? (UMO)
• Mentally prepare so that you dont assume that
  youre being negatively prejudged

Performance
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Minorities Be Emotionally Prepared

• Move past what you believe others think of you
  and your abilities
• Know who you are and stay true to yourself
• Address issues as they arise
• Examine problems logically before reacting
• Dont save things up and then blow your top!
• An executive coach may be a great investment

Performance
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Minorities Be Spiritually Prepared

• Leaders need to be VIPs (a person with vision,
  integrity, and perseverance).
• Vision is both a gift and the skill of being able
  to look beyond present realities to what could
  and should be.
• Integrity is internal and external consistency.
• Perseverance is to keep focused and to keep.
  executing toward the goal regardless of present
  circumstances.

Performance
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P.E.P.? up your Exposure

• Exposure (25)
• To succession planning process
• To the key power brokers
• To business functions (Operations,
  Marketing, Finance, PL, etc.)
• To new ideas/ information (periodicals,
  business books)

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Be Visible
Minority careers often hit a standstill because
the individual

• Doesnt understand the value of visibility
• Doesnt take advantage of opportunities to be
  more visible
• Doesnt present themselves positively during
  key visibility encounters

Exposure
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Be Visible
Why visibility matters Succession Planning

• Succession planning meetings do occurand they
  result in ranking several areas of potential
• Performance ratings for current and previous year
• Performance against company-identified leadership
  competencies
• Potential for promotion

Exposure
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Mentors and Sponsors

• Whos wearing your T-shirt?

Exposure
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Mentors and Sponsors

• The frustration for minority professionals is
  not knowing the real reasons for certain
  consequencesnot being able to properly assess or
  decode the information that you are receiving so
  that you can make the necessary changes to
  improve your status within your companyYou need
  a network, of which the most important members
  are your mentors and sponsors. I like to call
  them your decoders and quarterbacks.

Keith R. WycheGood is Not Enough
Exposure
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P.E.P.? up Perceptions
Perception (25)

• What is your brand?
• Self awareness to strengths and development
  opportunities
• Internal Image, Attitude, Value
• External Leadership visibility/ Thought
  Leadership
• Does my image positively reflect my company?

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Your Brand Means Everything

• What is your brand?
• Executive presence
• Demonstrated competence
• Leadership quotient

Perception
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Your Brand Means Everything

• Key questions for executive presence
• How comfortable are we with this individual
  representing our company to senior-level
  executives from our key clients?
• Is this individual polished enough to present
  in front of our executive leadership team or the
  companys board of directors?
• Is this person dynamic enough to engage an
  audience if they had to present information on
  corporate directives?

Perception
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Your Brand Means Everything

• Lack of demonstrated competence negates
  advancement opportunity
• Holding a degree is an assumed competence (until
  that competence is demonstrated in the
  workplace).
• Seek opportunities to demonstrate your competence
  to those in senior-level positions.

Perception
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Being a Continuous Learner is a Must!

• Business leaders have to be continuous
  learners because they have to reinvent themselves
  several times over the course of a career.

Michael J. Critelli Executive Chairman Pitney
Bowes
Perception
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Review Tips
GOOD IS NOT ENOUGH
AND OTHER UNWRITTEN RULES FOR MINORITY
PROFESSIONALS

• Read as much as you can and become conversant
  about what you read.
• Become active in an industry organization.
• Subscribe to your industry-specific publications.
• Learn new skillsincluding a new language.
• Be open to the fact that there are many ways to
  learn and always avail yourself of the
  opportunity to LEARN!

Perception
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A Final Thought
GOOD IS NOT ENOUGH
AND OTHER UNWRITTEN RULES FOR MINORITY
PROFESSIONALS
Keith Wyches mother was told by his
principal that, rather than send him to a private
school, she should save her money and buy a new
refrigerator.
NEVER Give Up!
Perception
Exposure
Performance