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February 2018 Technical difficulties? Email diversity@gbaforwomen.org - - PowerPoint PPT Presentation
February 2018 Technical difficulties? Email diversity@gbaforwomen.org - - PowerPoint PPT Presentation
GBA Gender D&I Working Group February 2018 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call. AGENDA - Session 4: Retention To what extent does our workforce reflect our customers? Welcome and
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Working Group Participating Institutions
Participating Institutions Access Bank Nigeria Chase Bank BAC San Jose Ficohsa BancoEstado Garanti Bank Banco Itau HBL Banco Nacional de Costa Rica (BNCR) IDB Banco Pichincha IFC Bank al Etihad IMON International Bank of Palestine KCB Kenya BanRegio PostBank BFL Rawbank BHD Leon RBS BLC Bank Sanasa Development Bank BRED Bank TEB Centenary Bank WestPac
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Session 4 addresses how institutions can take action to transform recruiting to advance women and support business goals
Phase I: Align & Diagnose Phase II: Take Action & Engage Allies Phase III: Measure, Refine, & Re-align Working Group Modules Oct Nov Jan Feb Mar Apr May Jun Jul
Align Diagnose Engage Take Action: Recruiting Take Action: Retention Take Action: Advancement Take Action: Professional Development Measure and Refine Re-Align
Why does it make business sense for our
- rganization to
address gender D&I? Are women in our
- rganization
thriving? Who needs to be engaged for this work to move forward? To what extent does our workforce reflect our customers? How can we make our institution a place where women will want to remain as they climb the career ladder? Do we make room for women to move up in our
- rganization?
How are we investing in our employees? How are we measuring progress toward gender D&I? How can we build a sustainable path toward women’s equality in
- ur
institution?
Source: Mercer, Framework for an Effective Diversity Strategy.
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Employers have several levers to control talent flow in their
- rganizations
Collect and analyze data that tells you about hiring patterns in your organization to understand:
- At what rates are your bringing in male and female talent at each level of your
- rganization?
- Where do applicants come from?
Diagnose Recruitment
Recruitment Retention Advancement Professional Development
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Today’s Objectives
- Understand why you need to innovate your hiring strategies
– The business imperative for bias-free recruiting and broadening talent networks
- Identify your organization’s levers to improve recruitment outcomes for
women
– Policies and practices, including decision aids, talent strategy, and accountability systems – Leverage points, including mitigating unconscious bias and addressing stereotypes
- BLC Presentation and Discussion
– Learn how BLC formalized an approach to promoting gender D&I in recruitment
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AGENDA
10 minutes
Welcome and Objectives
25 minutes
Why Rethink Recruiting?
20 minutes
Leverage Points for Change
30 minutes
BLC Presentation and Discussion
5 minutes
Closing
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The most immediate implications for recruiting efforts exist on an individual or institutional level
1.
Individual
2.
Institution
3.
Market
4.
Society
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Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call. Sourcing candidates Screening resumes Conducting interviews Evaluating candidates Making an
- ffer
Source candidates from a wider talent pool to increase the number of women who apply De-bias processes and standardize procedures so that women and
- ther underrepresented groups can advance in the hiring process
Make starting salaries for the same positions equal for men and women
Hiring more diverse candidates means rethinking each stage of recruitment
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How can financial services institutions win the best candidates?
De-bias hiring processes so your organization is not disqualifying applicants based on gender
More than 1 in 4 women in financial services have experienced gender discrimination when applying or interviewing for a job
Broaden recruiting networks to reach a larger and more diverse pool of applicants
60% of employers in financial services think that a lack of sufficient candidate pool is a barrier to recruiting more experienced women
Source: PwC, Gaining an Edge in the Competition for Talent: Inclusive Recruitment in Financial Services Survey (2017).
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Rethinking hiring strategies positions your financial institution to react to business challenges
Sources: eFinancial careers, Closing the Financial Services Talent Gap (2016); GBA D&I Survey; Iris Bohnet, What Works: Gender Equality by Design (2016); Oliver Wyman, Women in Financial Services (2016); PwC, 20th CEO Survey: Key talent findings in the financial services industry (2017).
Negative perceptions about brand and culture
Three quarters of survey respondents reported that company culture and reputation are “very important” factors for new job opportunities Use company branding to demonstrate company values and signal you are an employer of choice for women
Need for more specialized skills
72% of global financial services CEOs see the limited availability of skills as a threat to growth Recruit outside financial services from industries with transferable skill sets
Lack of candidates / competition for talent
Globally in all industries, 27% of women and 16% of men do not believe that female applicants have the same chance of being selected for a position as male applicants Attract high-potential candidates before they are looking (e.g., engaging upstream
- f your immediate pipeline by engaging
high-potential high school students)
FS institutions face challenges like… Potential response Almost 60% of members identified recruiting as a key learning priority for the Working Group, indicating GBA member institutions are grappling with challenges like these.
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Recruitment that works for women is also recruitment that works for your business
- Transforming your hiring system is time- and labor-intensive, but a recruitment system which is biased
has significant long-term costs associated with turnover and performance Expands your talent pool in an era when 72% of CEOs see availability of skills as the most serious threat to their business Will make your institution better at selecting both men and women with the skills that match your needs Responds to the unique human resource needs of the Women’s Market
- Female customers may have
distinct financial needs and challenges that call for a different nature of service
- A gender-balanced sales force
may help attract female customers
- Biased decision making hurts
applicants of all backgrounds, not just women and other underrepresented groups
- De-biasing hiring procedures
will help you hire the best person for the job, no matter their gender
- Broadening your hiring search
to bring in more women gives your institution access to more talent
- With rising female university
enrollment globally, more women bring the competitive skills required for business success
De-biasing recruitment… …Is about becoming more competitive as a business
Source: Boston Consulting Group, Women Want More (in Financial Services) (2009); PwC, 20th CEO Survey: Key talent findings in the financial services industry (2017).
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Recruiting at all levels is part of building a strong internal pipeline
- f female leaders
In many markets, the conversation about gender D&I focuses on women in leadership It is important to address leadership while also addressing the retail and mid- management levels, where many women have the skills financial institutions need to succeed
Source: Mercer, When Women Thrive Financial Services (2016).
It is worthwhile to invest in recruiting and nurturing women at all levels, in
- rder to build the female talent pipeline that will sustain gender D&I at your
institution in the long term
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AGENDA
10 minutes
Welcome and Objectives
25 minutes
Why Rethink Recruiting?
20 minutes
Leverage Points for Change
30 minutes
BLC Presentation and Discussion
5 minutes
Closing
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To influence recruitment, your organization can take advantage of several leverage points
Recruitment
Mental Models
Reduce the use of stereotypes and bias by educating your workforce about how stereotypes and unconscious bias work. Raising awareness can improve understanding of the use of stereotypes.
Practices
De-bias processes and standardize procedures so that women and other underrepresented groups can advance through the hiring process
Policies
Provide decision makers with formal tools and guidelines that help them make better decisions by structuring their thinking and helping them mitigate biases
Visible Leverage Points Invisible Leverage Points
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Policies: Audit and update recruiting practices to make hiring more
- bjective
De-bias processes and standardize procedures
Sources: Iris Bohnet, What Works: Gender Equality by Design (2016). PwC, Winning the Fight for Female Talent (2017).
Introduce tools and decision aids to de-bias decision making
- Design recruiting guidelines that
promote equal opportunities for applicants of all gender backgrounds
- Pilot approaches to determine if a
particular design is effective – try different tactics and measure their impact
- Use standardized tools like
checklists to keep evaluation focused on relevant facts
- Anticipate and bypass biases by
using primers that remind interviewers of traps to avoid
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Practices: Develop a pipeline strategy and strengthen accountability in hiring
Tap into highly-skilled but underutilized talent pools
Sources: Iris Bohnet, What Works: Gender Equality by Design (2016). PwC, Winning the Fight for Female Talent (2017); Shelley Correll, Creating a Level Playing Field.
Strengthen accountability systems so that hiring decisions are held to rigorous standards
- Consider “career returners”–
workers who have taken time off and are returning to the workforce – to fill vital skill gaps
- Develop strategic partnerships
with affinity groups, educational institutions, and other entities to strengthen the female talent pipeline
- Establish quantifiable targets for
the recruitment and hiring of women
- Set key performance indicators
and communicate transparently about progress toward established goals
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Mental Models: Engage individuals and teams to mitigate bias
Educate staff on unconscious bias
Source: Katherine Reynolds Lewis, How ‘Culture Fit’ Can Be a Shield for Hiring Discrimination (2015).
Address assumptions about qualifications and culture fit
- Reduce use of stereotypes by
raising awareness of gender discrimination
- Provide implicit bias training for
staff with recruiting and hiring responsibilities
- Challenge the ‘fit excuse’ by
defining qualities and characteristics that are important for the role in the job description.
- Ensure gender balance on hiring
teams to account for different understandings of cultural fit
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AGENDA
10 minutes
Welcome and Objectives
25 minutes
Why Rethink Recruiting?
20 minutes
Leverage Points for Change
30 minutes
BLC Presentation and Discussion
5 minutes
Closing
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BLC Bank Presentation and Discussion
Ghina Achkar
Corporate Responsibility & Sustainability BLC Bank
Sandra Antypas
Head of Human Capital Management BLC Bank
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AGENDA
10 minutes
Welcome and Objectives
25 minutes
Why Rethink Recruiting?
20 minutes
Leverage Points for Change
30 minutes
BLC Presentation and Discussion
5 minutes
Closing
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Working Session 5 will focus on retention strategies for women
Working Group Modules Oct Nov Jan Feb Mar Apr May Jun Jul
Align Diagnose Engage Take Action: Recruiting Take Action: Retention Take Action: Advancement Take Action: Professional Development Measure and Refine Re-Align
Our next call will be on Thursday, March 22nd
Source: Mercer, Framework for an Effective Diversity Strategy.
Phase I: Align & Diagnose Phase II: Take Action & Engage Allies Phase III: Measure, Refine, & Re-align
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