By: Mary L Bennett, CEC, CIA, MBA The accounting, consulting and legal professions, as well as many other financial services professions, have been working on diversity, equity and inclusion (DEI) challenges and opportunities for decades. Many organizations led the way beginning with a focus on improving gender diversity. Increasingly organizations have moved or are moving to a broader definition of diversity and inclusion defined by gender, ethnicity, age, generation, sexual orientation, neurodiversity, and many more aspects of our differences and similarities as human beings. The business focus on inclusion is driven by the perfect storm of increased demand for Talent which is outpacing the supply. Societal shifts are also pushing DEI change, even in the face of Potential legal risks which are effectively dealt with using appropriate DEI strategy. Below are Some reasons for the gap in the supply and demand of professional talent: 1-Unprecedented retirement numbers 2-High turnover and a shortage of talent in the marketplace 3-Changing demographics not mirrored in these profession; increasing risks of irrelevance of these professions 4-Ambiguity or outright lack of attractiveness of traditional long term career paths in these professions 5-Societal shifts relative to the pandemic such as quality of life and desire for remote work options What are the firms of the future doing to address talent and leadership shortages through their diversity, equity and inclusion (DEI) strategies? 1- Effective firms deeply understand, document and communicate their firm's customized business case for investing resources in the attraction, retention and advancement of those who bring elements of diversity to the firm. All levels of the firm should be considered, especially the leadership ranks. A more inclusive culture includes diversity of thought at the leadership level in order to accomplish truly effective sustainable business strategy into the future. 2-Successful firms use their customized business case as a starting point to accurately diagnose their firm and its evolution toward building a more diverse, equitable, and inclusive organization. Getting clear on commonly used terms and definitions is often one component in the diagnostic process. Understanding the desired future state and why creates a sight line for guidance and course correction. Diversity is a reflection of the actual ranks of the organization along the dimensions of diversity such as gender, ethnicity, age, social identity, etc. Equity is about ensuring everyone has equitable access to opportunity within the culture; equity is not accomplished by treating everyone the same. Inclusiveness is the degree to which the organization successfully integrates and leverages the uniqueness of its employees, hearing all voices, tapping into the diversity of thought they bring. Inclusiveness is also measured by a sense of belonging and the perception of equitable access among ALL employees. Diversity, Equity and Inclusion strategies must include everyone in the organization; majority group members and those from UNDERREPRESENTED groups. This is about all of our similarities and differences and how we HARNESS these to succeed together. Understanding where the organization is in terms of maturity, and therefore readiness for strategy implementation, is essential to avoid significant mis steps. A common example of such a mis step is the attempted implementation of educational programming before the business case and strategic context is solidly in place. In this situation, it is very difficult to obtain buy in from the leadership level and down through the entire organization. The firm may be moving towards outcomes that are not in alignment with where they most need to go from an DEI perspective. Organizations may quickly get confused about why they are undertaking various activities. Understanding where you want to go, why you want to go there and where you are starting from is essential. 3-Firms effective in building greater diversity, equity and inclusion have a defined a targeted set of strategies that align with the evolutionary readiness of their organization. This always begin with effective business case formation, communication plans and tangible diagnostic preparedness. There are many strategies that can be employed, the firm must understand the foundational elements noted above before selecting strategies. This is not a one size fits all strategy. Nuances and specifics matter. Also, There are always resource challenges. it is critical to engage in the strategies that will most effectively move the firm towards it's vision of success relative to business strategy overall. The diagnostic process will help to avoid pitfalls that can take years to recover from, while moving the firm towards tangible progress. Doing the right things, for your organization at the right time in it's evolution. Do not hesitate to contact us at mlbennettconsulting.com for more information. By: Mary L Bennett, CEC, CIA, MBA
The power of sponsorship relationships is not very well understood in many organizations even though these relationships have been the electricity of career progression as long as there have been careers. Intentional sponsorship, however, is frequently the missing element in building inclusive environments where all top talent can thrive. Sponsorship is a key example where equity rarely flourishes. The issue of sponsorship is often subtle and requires a close look at how individuals move through the organization. How do they advance? How do they become visible? What is considered an increase in value delivered that puts someone on "the radar screen"? Many of the subtle but essential rules about how an individual advances in an organization are real but unwritten. As a result , it is critical that all top talent have access to sponsors in their career journey. Sponsorship in the development and career advancement process is often missing for emerging leaders, especially those who represent diversity from the current and past leadership teams. This is not because those in positions of influence are deliberately or even consciously excluding anyone but because human beings regularly exhibit something called "affinity bias". This is simply a pattern of identifying with those who remind us of ourselves , with those on a path similar to the one we have taken. We reach out to those who we feel an affinity with and "take them under our wing". As a result of these human patterns the natural formation of traditional sponsorship relationships often unevenly provides critical "survive and thrive" training. This is a key inequity in organizational cultures. In most organizations there remains a lack of broadly defined diversity in the majority of positions of influence and power. The positions that represent deep knowledge of the unwritten rules are still today not held by individuals who represent a broad definition of diversity. In many cases, senior leaders naturally reach out to younger leaders who remind them of themselves. When asked, senior leaders are often not aware that an uneven execution of sponsorship is happening and they are a party to it. When the question of why more emerging leaders who represent broader diversity are not in their circle, the leaders often indicate that they do not feel they can be a mentor to women, minorities, GLBT, or the disabled. They acknowledge, when asked to reflect, that they have reached out naturally to people they feel they can help because they have walked the same road. These influential leaders sometimes feel they do not have as much to offer the individuals who they perceive to be walking a different road. This is in fact not the case, there is much they have to offer and it is possibly even more important they offer it to those who represent diversity because these individuals have less access to critical information about the majority culture. In addition, these individuals may represent unique perspectives, networks, and experiences that will make the organization stronger. This is an excellent example of privilege that allies can and should put to use. Sponsorship programming is a very practical mechanism for utilizing privilege within the DEI strategy. Sponsorship is much more than mentorship. These factors are a catalyst behind the lack of an even playing field for all top talent. Without the same access to senior leadership, critical learning and developmental experiences, all individuals do not have the same opportunities. Moving through an organization seeking advancement is a very real journey. This journey is one that requires a map that comes from a sponsorship. All individuals should be thinking about gaps in experiences needed to increase skill levels and personal balance sheet of talent. It is important to first understand what the organization is looking for in its emerging leaders. This is not always , in fact not often , written. A sponsor provides critical information that helps the individual understand where they are on track and where they are missing the mark. While understanding high value activities is the first step in efficient career navigation, an individual is not always in a position to acquire access to these opportunities and experiences without someone in the inner circle acting as an advocate. In some cases, it is nearly impossible to broker opportunities such as committee assignments, over seas promotions, strategic client relationships, profit and loss responsibility without assistance. Advocacy from those in positions of influence is required. Many emerging female and minority leaders do not have deep sponsorship relationships. This fact slows the career progress of these diverse leaders. It creates real difference , not only in the opportunities that this talent has access to but also meaningful differences in learning and skill development. While it may be heresy to post this next comment- it is true. When we hear that there were no female or diverse candidates for promotion that were qualified...it is sometimes true because these candidates have not had access to the experiences needed to qualify them for the new opportunity. This occurs largely because of a lack of sponsorship intervention which provides this access. What can we do as individuals and organizations? Individuals must work to form relationships with senior leaders in order to access critical career navigation information and support. If you represent diversity from the current leadership team it is important that you work even more proactively to develop these relationships as they may not form naturally without you acting as a catalyst. Sponsorship left to its natural course has led us to where we are today. This is why customized and formal sponsorship programs are required in order to build diverse pipelines of talent. As an example, MLBC sponsorship programming is a proven strategy . With over 1000 individuals having completed the programming the results are clear. The large majority of participants are retained and further progress within their career path. Sponsors learn and begin to grow the concept of a more sophisticated and equitable sponsorship model within the organization. The good news is that talented individuals can obtain what is needed from multiple relationships and sources, and in fact should not expect to get everything from one sponsor. Good programming teaches this and how to make it happen. Putting all of your efforts into one relationship is not a good strategy because there will always be change within organizations. How hard a talented individual works and the quality of their work is not the only thing that matters... it is the merely price of entry. Talented individuals need to know if they are doing the right things at the right time in their career. In addition, the right people must know they are doing the right things. What are the "right things"? Those activities recognized as having the most value to the organization today and into the immediate future. Organizations that understand all of the above take a hard look at their assignment, promotion and sponsorship processes. Uneven access to senior leadership can be addressed through awareness raising, sponsor programming and an enhanced talent development culture. Jill is an African American woman with ten years of experience in
public accounting. She is certified and versatile in the areas of practice in which she might contribute now and in the future. She has deep community roots in the major metropolitan area in which she works and she has shown great promise in promoting the Firm in the market. She has demonstrated ability to target in on very valid and significant business development opportunities. She is liked by her peers and develops the people on her teams. She also plans to leave the Firm and possibly public accounting altogether. What is wrong with this picture? Jill feels as if she works tirelessly to stay connected in the Firm and to expand her network. She has been successful in this regard and is networked and capable of tapping into opportunities. She feels she has to prove herself every day when she walks through the door and again if she is working toward a significant opportunity in the Firm or the market. She feels when she speaks she must work much harder to be heard and to be taken seriously. She feels that her superiors are not connected to her and that she is not on their radar screen. She has observed the favoritism or advocacy circles that drive the assignment of opportunities, promotions and pay increases. She has managed to tap into these organizational circles from time to time, but also notes that she has to assimilate in order to stay connected. She is uncomfortable with the degree of assimilation required. She understands that this assimilation also limits the value she may bring to the Firm. She has come to the conclusion that the energy she is pouring into trying to fit into the organization could be better applied to her work if she was in a more inclusive environment. Her exploration of the Public Accounting marketplace has turned up few options upon deep research. She knows she has many career options. She cannot envision herself on the outside trying to gain access daily for the undefined and long term future. This is a very difficult career path without taking into account the need to break into circles of influence that others do not have to work at to gain access. The sustainability of our Firms is dependent upon attracting, retaining and developing the best talent. A significant portion of this talent is represented by individuals who represent something different then our current partner ranks. Our ability to develop and bring new solutions to new markets is dependent on our success in creating an inclusive culture that supports a very broad level of diversity. Diversity in thought, lifestyle, ethnicity, gender, education, socioeconomic experience and much more. Creating an inclusive culture can be accomplished with targeted effort. How do we attract, retain and develop the individuals who represent the change we need for the future while we continue to work on our culture? What can an organization do now to retain and develop top talent like Jill? One of the most important strategies that an organization can employ is targeted advocacy. In our profession advocacy relationships drive talent development and career navigation. These relationships are a natural part of our organizations and have been so for decades. Advocates not only understand how to navigate through an organization to access key opportunities and networks at the most appropriate junctures of a career but they also use political capital to facilitate these moves for their protégés. Advocates also help the protégés to become visible in ways that individuals cannot do for themselves. These relationships exist and drive our profession. These relationships are essential for election to owner which is one of the ultimate career destinations in our profession. It is critical to note that for individuals who represent something different from the norm, the advocacy relationships do not form as naturally as they do for the majority group. Human beings are drawn to individuals who remind us of ourselves, those we can identify with. This is especially true of advocacy relationships that may form naturally in public accounting Firms. This is significant and an important element in Jill’s story. How can a person like Jill reach the conclusion that the price to pay for success in public accounting is too high? As an experienced partner in a public accounting Firm, I would be the first person to acknowledge the road is long and challenging. We expect to work hard to attain this goal. What is lost on those of us who may represent the majority is that the path is not the same for those who are diverse, those who may represent our future. The path is much harder every day. When we hear that these individuals do not want to do what it takes to succeed we must understand that in significant ways we are asking them to do more then we have had to do. This is true in many Firms for women, minorities, those with different educational or socioeconomic experiences, those with different lifestyles, or those that represent any significant difference that currently requires the individual to suppress in order to assimilate and be accepted. If you are a member of the majority and dominant group, the need to suppress fundamental elements of who you are to succeed may sound like fiction. Those who represent diversity in the ranks of your Firm would assure you that the energy it takes to try to be a fully accepted and engaged member of the Firm is significant. Advocacy relationships must be in place for all of our top talent. If left to chance, the relationships will most likely not be in place for the individuals who represent a critical part of our future because they represent something different. Targeted Advocacy Programs are not difficult to implement. The ripple effect benefit of these programs is immense. One method of shifting culture is to work closely with those individuals who represent the future. Bias is generally unconscious. Bias begins to break down as we gain personal experience interacting with individuals. Both the advocate and the protégé learn from these relationships. |
AuthorWelcome to my blog. Thank you for joining me! I am Mary, founder of MLBennett Consulting. The thirty years I have spent working with clients, developing consulting practices, leaders and organizations have led me to strategic outcomes and consistent passions. I am well known in the accounting industry, but also work with professional services firms and corporate clients. I founded the MLBC organization because I am deeply experienced and passionate about the inclusive development of individuals and organizations. I believe our success and sustainability begins with our people and the strategic processes and programs that support their development. Diversity, Equity and Inclusion are critical in building a sustainable organization. I hold an MBA, CIA and multiple coaching certifications. Archives
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