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Diversity Metrics that matter - Lead Inclusively

Diversity Metrics That Matter: Webinar Presented by NDC

By | Diverity & Inclusion, Gender Inclusion, Human Resources, News and Events | No Comments
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Metrics That Matter is part two in the four-part diversity and inclusion webinar series “Champions of Change,” taught by Denise Pirrotti Hummel, J.D. Presented by the National Diversity Council.

Although nearly all companies believe that diversity and inclusion are critical to business success, only 85% of companies track any kind of diversity and inclusion metric. Unfortunately, there is often a lack of knowledge around which metrics matter most. This creates an opportunity for companies who do use metrics to be able to reach their full potential. Lead Inclusively assists organizations in using D&I metrics to diagnose and correct issues throughout the talent pipeline, contribute to business goals, optimize processes and effect sustainable change. Join us on June 5th for a free webinar. Hear global thought leader Denise Pirrotti Hummel, J.D., as she shares her expertise on connecting diversity and inclusion with business ROI. Attend this can’t miss webinar to get your company’s D&I strategy moving in the right direction.

You will learn:
– The value of metrics for tracking and creating sustainable change
– Meaningful metrics most companies aren’t tracking
– Which metrics to track across the employee lifecycle and how to get started
– How to use metrics to optimize processes and achieve strategic D&I goals
– Best and next practices in tracking metrics that matter

When: June 5, 2018
Time: 8am – 9:30am PST

Denise Hummel CEO Lead Inclusively

Denise Hummel

About Denise Hummel:
Denise Pirrotti Hummel, J.D., is the Chief Innovation Officer of Lead Inclusively, Inc., a firm devoted to helping Life Sciences clients to make the connection between inclusion and business performance. She spent many years litigating Civil Rights Cases, including gender equality litigation. As a recovering lawyer, Ms. Hummel was the founder and CEO of a cross-cultural strategy firm which she grew as a single mother. The firm, Universal Consensus, LLC., was acquired by Ernst & Young, LLP., where Ms. Hummel became a partner and led their Talent, Inclusion and Innovation division. She then exited to start her second business.

She is now the Chief Innovation Officer of Lead Inclusively, Inc., a firm devoted to the connection between inclusion and business performance. She serves clients around the globe, with a strong presence in Life Sciences and High Tech. She is a Board Member of the HBA and the Co-Chair of the Life Sciences Committee of Athena. She is also a legacy member of Marshall Goldsmith’s 100 Coaches team. Learn more about Lead Inclusively.

About the National Diversity Council and the National Training Center:
A well-informed and properly educated diverse and inclusive workforce can strengthen an organization’s reputation, financial performance, and workplace culture. The National Training Center is a customizable and convenient educational resource provided by the National Diversity Council, a nonprofit that champions diversity and inclusion in our communities and workplaces.

 

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Companies Lose $30B Annually By not Engaging Millennials in the Workplace – by Dan Negroni

By | Generation inclusion, Inclusive Leadership

We know that making sweeping generalizations about any group of people being “lazy,” “unprofessional,” “unreliable,” or “narcissistic” is repugnant. Unless we are talking about the dreaded “M” word, Millennials. But here’s the reality, companies are simply losing by not engaging Millennials in the workplace.

In their paper Too Old or Too Young? The Impact of Perceived Age Discrimination, authors Ed Snape and Tom Redman cite a study which found that “being seen as untrustworthy and being given less responsibility were common” among undergraduate business students. And that is if they are hired at all; experts now cite a hesitancy in employers over hiring younger staff.

It is called Reverse Ageism and it presents a serious hurdle to young talent in your office no matter how capable they actually are.

Reverse Ageism Is a Billion Dollar Problem for Companies
For a mid- to large- sized company, reverse ageism could potentially be costing you millions of dollars, your most productive employees, and ruining your company culture. On average, Millennials stay in a role for 1.3 years, which Gallup estimates costs the U.S. economy $30.5 billion annually. That’s a ton of coin.

And money isn’t the only loss for companies. Recruitment costs, onboarding costs, loss of productivity from watching colleagues leave, and lower productivity of new hires all negatively affect a company, its culture and its bottom line. Not to mention these young staff that are leaving are often more productive than senior staff and almost universally less expensive to hire, hurting your bottom line even further.

These are real costs to your company, but they are fixable. They require thought, time, investment and a commitment to emphasizing the strengths of your Millennial staff and helping the five generations working together today to bridge the gaps between them and leverage their unique strengths.

Millennials Have Unique Gifts and Gaps
While it may be true Millennials lack some essential professional skills, they are happier than any other generation to develop and hone their skills given the chance. Gallup found that 87% of Millennials believe “development is important in a job” and development opportunities regularly score higher than pay when Millennials rank the benefits of a job.

The catch is that they know when they are liked, wanted, respected and valued.

Employers who want to put a stop to both the generational tensions in their office and the high turnover rate of Millennials need to take the time to train the enterprise to bridge generational gaps. That process starts with providing Millennials with the training opportunities that develop their professional skills and make them feel that they are valued in the workplace and gives them a sense of progressing as professionals.

We suspect you might even be surprised by what they can do.

Get ahead of reverse ageism in your workplace. Click to learn more about the Lead Inclusively workshop on Generational Inclusiveness: Knowing Your XYZs.
– – – –
Dan Negroni is V.P. of Generational Services at Lead Inclusively, Inc. He is a “recovering attorney” and the quintessential next generation business management and talent development consultant and coach solving today’s critical multi-generational issues. Dan leverages his authentic, no-nonsense approach and a successful 20+ year career experiences as a CEO, attorney, senior sales and marketing executive, to help companies bridge the gap between managers and their millennial workforce to increase employee engagement, productivity and profits.

Why Healthcare Innovation Often Fails

By | Inclusive Innovation

Today, health systems require an increased focus on innovation to achieve their strategic goals. With major forces of change at play — including consumerism, retail healthcare, risk-shifting, new entrants, and uncertainty resulting from a new administration — hospitals and other providers have begun evaluating new business models, diversifying their business, and searching for new revenue streams to stay relevant and competitive in their markets. Igor Belokrinitsky © ASC COMMUNICATIONS 2016

However, deciding to pursue innovation is far easier than actually making it work.  We have found that connecting innovation efforts with Diversity & Inclusion initiatives is a win-win between business strategy and H.R. strategy.

There  are a few common themes that are beginning to come to light in failed innovation attempts. Fortunately, all of these can be mitigated through thoughtful and purposeful design of an innovation operating model that includes enabling diverse ideation from a diverse talent pool.

1. Treating innovation like any other project. Treating innovation like any other investment is one of the most common mistakes we see. Measuring the financial return on innovation projects alongside other projects decreases their attractiveness, as most new ventures’ payback period is protracted. This may result in organizations shelving otherwise high potential opportunities, or myopically focusing on incremental opportunities with near-term payback. Furthermore, funding innovation via traditional budgeting processes (those used for traditional business planning) does not pull capital from dedicated innovation funds, and forces ongoing innovation efforts to compete for funding against other projects, operating units, and organizational priorities. In times of austerity and budget cuts, innovation efforts can be perceived as non-essential, and are at greater risk of falling subject to the axe. Using Diversity and Inclusion engagements as a catalyst for driving diverse innovation and tapping D&I budgets through H.R. or individual business units can be the key to avoiding this problem.

2. Measuring the wrong things. Measuring progress of innovation efforts is significantly different from, and more challenging than for traditional business units. Measuring your innovation portfolio through financial reporting processes may not provide full transparency into an initiative’s performance — progress towards milestones should be defined by metrics appropriate for pre-revenue and early-stage growth companies (e.g., engaged users, downloads), not strictly by financials. Measuring innovation efforts strictly by financial projections may be misleading, as financial projections for early stage and start up businesses are subject to significant uncertainty, and are easily missed.  Qualitative metrics as well as financial metrics related to inclusion efforts pay off in unanticipated dividends.

3. Not understanding the talent market. Successful intrapreneur leaders are a special breed of talent that have both entrepreneurial tendencies and experience, but are comfortable navigating the processes and politics of larger corporations. Not only are these leaders different in profile from traditional corporate hires, the teams they require to support their innovation efforts (e.g., design, development) are different as well. These leaders are in high demand from start-up or growth stage organizations, and field offers with compensation that includes cash and significant equity — attractive components of a total package. Leveraging traditional HR functions that don’t understand the profile or motivations of the right talent can significantly impair your innovation effort, the success of which is largely determined by having the right leaders to drive it.  HR transformation that recognizes diverse talent as more than just “visual diversity,” but actually hones in on diverse thinkers can make all the difference.

4. Borrowing from the corporate playbook. Many fall into the trap of assuming that existing resources and shared services can support innovation in a “plug and play” manner. However, it is exactly this thinking that will stifle your innovation effort. Incubators and other innovation operating models that heavily rely on matrixing to parent resources (e.g., IT, marketing, legal, procurement, D&I, HR) are subject to the same prioritization processes and corporate cost reduction efforts that can hamper the speed of traditional projects. Furthermore, without embracing an entrepreneurial culture (e.g., focus on building MVPs, employing lightweight contracting), the innovation effort risks over-building and over-contracting products for enterprise clients without first having established product-market fit.

5. Failing to keep “fit.” Designing and consistently executing an innovation process that aligns to your overall strategy is hard, and requires commitment and constant vigilance. It is easy to become complacent in enforcing strategic alignment, pursuing attractive business cases despite their failure to align with your organization’s core mission. However, focus is paramount in innovation. A coherent portfolio that supports the organization’s overall strategy, from its innovation strategy to it’s D&I strategy and everything in between, not only ensures executive and board alignment, it can yield positive benefits by enabling your organization to create a compelling case to outside philanthropists, grant-providing organizations, and strategic partners.

We’re happy to help you begin. Take our complimentary mini-assessment to see how your company stacks up against the competition.

3 Behaviors That Accelerate Innovation

By | Diverity & Inclusion, Inclusive Innovation, Inclusive Leadership

To succeed, leaders of diverse organizations must create an inclusive environment that encourages new ideas.

Many studies show that organizations with a diverse workforce out-perform more homogenous organizations. According to McKinsey’s 2015 study “Diversity Matters,” companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians. Companies in the bottom quartile in these dimensions are statistically less likely to achieve above-average returns.

While greater gender and ethnic diversity in corporate leadership doesn’t automatically translate into more profit, the correlation does indicate that when companies commit themselves to diverse leadership, they can be more successful.

What makes diverse organizations perform well, however, is not just the number of women and minorities they employ. It’s about how included these diverse individuals are in key decision-making activities and how organizations value their contributions. It’s also to what extent they rise to senior leadership so that their voices are more likely to translate into meaningful organizational transformation and provide inspiration to others in the diversity talent pipeline.

According to a 2013 Corporate Executive Board and Center for Talent Innovation study, the “inclusion” part of the “diversity and inclusion” equation is a key enabling or limiting factor. Inclusive leadership behaviors unlock the innovative potential of a diverse workforce and increase the likelihood (by as much as 158%) of innovating effectively.

Organizational leaders must ask themselves if they provide an environment that encourages diverse people to express their ideas so that the motivation to share diverse ideation thrives. When individuals on a team feel that their opinions are valuable and sought-after by their leader, they allow themselves the luxury and the discipline of sharing ideas without creating a self-induced filter regarding ideas that aren’t in sync with prevailing thought or the historic ways of doing things.

In the absence of inclusive leadership, employees will often do the minimum necessary to achieve their own individual performance goals, rather than see themselves as instrumental to organizational performance and growth.

So how should organizational leaders practice inclusion?

The three “Rs” of inclusive leadership provide a framework to move the needle on the connection between inclusion and innovation:

1. Receptive: Seek out opinions and viewpoints on a regular basis.
Most leaders consider themselves receptive. The reality is that if we do not seek out diverse opinions on a regular basis and make that part of the structure of our meetings—as well as the way our team is evaluated—then our self-perception does not always align with the reality of our day-to-day team interaction.

Encourage sharing different opinions and viewpoints during team meetings by incorporating the concept into every team agenda. Incorporate formal KPIs or performance goals that reflect the importance, accountability, and appreciation related to new ideas about products, services, and internal process. Consider using interactive technology such as gamification to challenge the team to share ideas. In the absence of direct and discernible goals, “groupthink” and reliance on the historical way of doing things will be the norm.

If team members know that their performance evaluation will be, in part, dependent upon their contribution, even in the face of a less than popular point of view, the chance of hearing diverse ideation increases dramatically.

2. Reflective: Keep decision-making honest and transparent.
When an idea offered by a team member is not acted upon, or a decision is made that could result in the appearance that a certain team member is being favored over others, inclusive leaders explain the “why” of their decision to their team, honestly and transparently. Nature abhors a vacuum. In the absence of direct information about why a decision is made, team members are left to speculate about the “why” and will freely attribute a decision to cronyism, or to the fact that the person chosen happens to share the same viewpoint as the leader.

In the age of technology, the final decisions are often transmitted virtually and announced by email or newsletter, leaving a team without personal interaction with their leader regarding the nuances of the decision. If all factors have been included, especially those related to diverse thought that goes against the mainstream, then call that out before the decision is announced. If not, then reconsider the basis of the decision before announcing it.

3. Revitalizing: Listen for the silence.
Find ways for the quieter voices in the team to be heard. Look around the room. When is the last time you heard each team member’s voice? Are there some team members who manage to be heard, no matter what? Are there some that seem to have nothing to say?

Assuming that your organization chooses its talent carefully, the chances are pretty good that silence does not mean that there is no point of view. Rather, it may be a personality or cultural style that does not easily permit contribution without that voice actively being requested. Ask, “Is there anything you’d like to share about this subject?”

For especially shy or introverted team members, consider giving them advanced notice that you’d like to hear from them at the next team meeting. You may be amazed.

The Outcome of Inclusion
While every organization is different, small changes in inclusivity seem to have exponential results. For example, I recently challenged a client to take one singular action in each of the categories above and to survey the outcome, including asking an open-ended question relative to how team members felt about the changes that were instituted.

One of the actions they took was that a cloud-based receptacle for ideas was established. Entries were coded in such a way that ideas could remain anonymous or could be revealed by the idea donor. Team members could anonymously vote and they could also comment or clarify an idea. A gamification component was added whereby digital badges could be collected. When a certain number of badges were obtained (regardless of the identity of the donors), the team was rewarded with a team dinner, courtesy of the company.

In addition to the fact that many process optimizations took place and several new service ideas moved forward to be vetted, the overwhelming majority of the comments reflected a feeling of excitement, optimism, and engagement, including one team member who exclaimed, “Can we please shut down the portal over the weekend? My husband is getting really annoyed because I keep getting up in the middle of the day to input an idea that I dreamt about that night!” To which the team leader responded, “All our teams should all have such problems!”

Originally published in Oracle Profit Magazine.

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