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. Flexibility?? ...Been there done that? or That wont work here...our customers and clients are too demanding? Do these comments sound familiar? Read on to learn how flexibility may not be what you think.
Building flexibility into a work culture impacts so much more then your employees intention to stay and contribute their very best to the organization. While it does do that, it also has the power to enhance your business. Flexibility has the power to contribute to: -Employee Attraction and Retention -Improved Productivity -Improved Customer Service and Satisfaction -Effective Operational Management For detailed information on each of these potential benefits from flexibility read the whitepaper published on the AICPA website. Link below. (Flexibility Business Case- How Flexibility Can Actually Improve Your Business http://www.aicpa.org/career/womenintheprofession/downloadabledocuments/2010%20mary%20bennett%20flexibility-the%20business%20case.pdf ) In addition to the above benefits, flexibility is not just about changing work schedules. Frequently there is an assumption made that if an employee wants to take advantage of flexibility it means that they want to reduce their total hours .In your organization does this also mean they are consciously or unconsciously labeled as "less committed", "less worthy of investment, attention, promotion"? Does this also sound familiar? Flexibility is actually about treating your employees as professionals for the benefit of the firm as much as for the benefit of the individual. Most of us arel aware of the flexibility required to deliver the value propostion expected of a professional in industries such as accounting and law. The success of the firm depends on talented individuals being flexible and adaptable to anticipate and meet client needs. This flexibility is similar to the adaptability required by the organization to allow individuals some freedom to meet their personal needs. Consider Chris. Chris is at the mid management level and is currently struggling to build a successful career and a successul family life simultaneously. The firm offers a flexible work arrangement program that allows one to cut back their hours and travel schedule to meet family needs. It is common knowledge that this program will limit advancement even if the individual works full time plus hours during the most intense deadline periods of the year. Chris feels compelled to take this option even though it is not exactly what is needed. What Chris really needs is just a little bit more control over the schedule and approach to meeting firm and client needs. If less judgement and more acceptance were displayed by senior leaders when Chris departed from traditional face time expectations, there might be a chance to stay with this firm. Chris actually has less desire to reduce hours and more desire to meet his responsibilities with some flexibility. Chris feels that if this were possible, long term career options would most definitely include staying at this firm. As it stands now, with part time as the only option to get some control weighed against the loss of income and advancement potential- a long term path here is not in the plan. Flexibility is not just about part time. Whether it does or does not include changes in total hours the core of building a flexible culture is clarity in expectations. If a professional is clear on the expectations, accountabilities and how to create value at each level , flexibility becomes much easier. Our top talent will exceed expectations if they understand what these expectations are. Top talent will have the motivation, energy, enthusiasm to bring greater value if they feel they are treated as a professional- which includes allowing them to determine when, where and how to best meet their responsibilities. Like any developmental skill, meeting priorities is something that requires coaching. This is true regardless of the flexibility of the culture. With targeted efforts to clarify expectations, there is less ambiguity for all. The above discussion is not theory. After ten years experience leading a unit with a flexible culture, I have seen the theory in action. Leading 50 people who were all taking advantage of some type of " formal flexibility" - which included part time and full time schedules- I have seen first hand how flexibility can directly support the business goals of an organization. Looking for employee engagement, commitment, retention and answers to work-life challenges that will impact clients- building a flexible culture is your answer. It comes with many side benefits. |
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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