Monday, July 18, 2016

How These Companies Achieved Parity Without Diversity Initiatives - FASTCOMPANY

by Lydia Dishman 
Originally published: July 13, 2016
Publisher: FastCompany.com 

 While many companies try diversity initiatives to change the ratio, these three companies have achieved parity with a different approach.

Some of the world’s largest banks and insurance providers just signed a pledge aimed at getting more women into leadership at their organizations. The likes of Barclays, HSBC, Deutche Bank, and Morgan Stanley, among other firms, agreed to set goals to diversify their upper management and report on their progress annually. Failure to meet the goals will be tied to the bonuses of their senior executive teams. According to Catalyst, women make up nearly half of all employees in the financial services industry, but only 25% of senior management roles.

THE 50/50 BOARD

"It’s good to have a goal," Mindy Grossman tells Fast Company. But the CEO of interactive multichannel retailer HSN, Inc. (you probably know it as the Home Shopping Network) says, "A mandate can create a falseness," as opposed to working toward achieving diversity as sound business decision. Grossman, who says her passion for diversity extends back more than 15 years to her tenure as global VP at Nike, believes that the more voices and minds you bring to the table the greater the degree of problem solving and innovation you can have. "I’m also talking about a diversity of thought and experience," she points out, not just of gender and race.