An Industry Transform ing: Developing and Leveraging Diversity September 2018 Jennifer Rockwood Private and Confidential
Agenda State of the industry 1. Diversity and Inclusion as a business priority 2. The impact of culture on tech enablement 3. Private and Confidential 2
Public power executive team s– a 20 18 profile There is still little gender diversity in public Diversity and Inclusion and Transform ation power executive leadership roles and representation are not prevalent Only 26% of power company exco members are female on leadership team s Power Executive 74% Committees 26% Hum an Resources and Legal have the greatest Female CEOs num ber of wom en on power executive com m ittees 12% (gender diversity) Role distribution of females on power Excos (%) Diversity and Inclusion 25% 24 % <1% 22% Leader 14 % Transformation/Innovation 10 % <1% leader 4% Legal HR BU Finance CEO Other* Leader Source: RRA proprietary research of executive committees from the largest 25 power companies in the US * Includes all other roles (e.g sales/ marketing, corporate affairs, technology) Private and Confidential 3
Energy com panies are beginning to im plem ent diversity strategies 40 % of energy executives state that there com pany has a diversity strategy Does your company have a diversity strategy? % of respondents who state their company has an official diversity strategy 49% 47% Agree that their organization Believe that their senior aligns its efforts toward an leadership in their organization Energy 40% inclusive culture as part of its makes a visible effort to support business strategy the company’s diversity and All Industrial inclusion initiatives 37% & Natural Resources 45% Non-Profit 41% Healthcare 67% 33% 44% Financial Services See that it is clear Feel that their how diversity and organization places a 39% Technology inclusion will priority on fostering an improve the inclusive culture performance of 30% Consumer their organization Source: Russell Reynolds Associates Diversity and Inclusion Pulse Survey, 2018 (N=1,857 and Energy N=95) Private and Confidential 4
There has been significant im provem ent in attracting, developing and retaining diverse talent for energy com panies 20 17 20 18 Attracting 48% 31% Feel their organization is very effective or extremely effective at attracting diverse talent Developing 29% 42% Feel their organization is very effective or extremely effective at developing diverse talent Retaining 31% 37% Feel their organization is very effective or extremely effective at retaining diverse talent Source: Russell Reynolds Associates Diversity and Inclusion Pulse Survey, 2017 & 2018 (Energy 2017 N=151 Energy 2018 N= 95) Private and Confidential 5
Only a sm all num ber of industrial com panies m ake it to the Forbes list of best em ployers for diversity in Am erica Share of industrial companies among the Forbes list best employers for diversity in America 0% 4% Industrial companies Non-Industrial companies Top 10 Top 25 Top 50 Top 100 Top 250 Source: Forbes America’s Best Employers for Diversity https://www.forbes.com/best-employers-diversity/list Private and Confidential 6
Diversity and Inclusion as a business priority Private and Confidential 7
D&I has gone from being “nice to have” to a “m ust have” Why do com panies How do com panies dem onstrate their com m it to D&I? com m itm ent? Internal Priorities Internal Priorities 44% empower workforce 46% establish workforce diversity goals 40 % strengthen employer brand 4 0 % measure inclusion via surveys/ employee feedback 33% innovation 39% establish senior leadership diversity External Priorities goals 39% compete globally Internal and External Priorities 36% deepen understanding of customers 4 0 % hold themselves accountable for 19% improve financial performance meeting established goals In this day and age, companies are being pressured to make these goals public and brand themselves around a D&I agenda Source: Diversity and Inclusion Pulse: 2017 Leader’s Guide, Russell Reynolds Associates. N = 2,167 Private and Confidential 8
The m edia landscape: Increasing pressure for com panies to take a stand Private and Confidential 9
The responsibility of leadership to drive diversity and inclusion Leadership m ust be actively com m itted to enabling diversity and inclusion and em powering the workforce around its im portance Inclusive Leadership Working across Bottom line growth differences Fostering a safe space Talent attraction and Fairness and respect Understanding and retention Enabling a diverse Competitive advantage empowering others pipeline Leveraging differences New opportunities Amplifying voices for success Investor value Diversity & Inclusion Processes Business Outcom es Notes: Diversity and Inclusion #Gamechangers, Russell Reynolds Associates, 2016. Private and Confidential 10
Inclusive leadership has real business im pact When senior leadership cham pions D&I, em ployees are m ore likely to feel… 25% 41% 47% 43% More likely to More More More STAY ENGAGED as if they BELONG CREATIVE % Reporting Key Human Capital Outcomes 100 90 80 70 60 50 40 30 20 Leadership unsupportive of D&I Leadership supportive of D&I Notes: Diversity and Inclusion Pulse, Russell Reynolds Associates, 2017. Private and Confidential 11
The im pact of culture on tech enablem ent Private and Confidential 12
Culture Is a Key Factor in Technology Enablem ent, but Most Organizations Are Focused Elsewhere Source: RRA Digital Pulse Private and Confidential 13
Seven Cultural Dim ensions that Underpin Digital Transform ation Although culture is seen as a critical factor in the success of digital transform ation, respondents indicate that there is room for progress across the seven cultural dim ensions im perative for change. Source: RRA Digital Pulse Private and Confidential 14
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