Pay Inequity Is Still A Thing—And It Matters

By Maria Colacurcio

In recent years, gender pay equity has become a topical discussion amongst the global workforce. Hollywood actresses and Olympic athletes have shared their stories of unequal pay for equal work; and there has been a slew of class-action suits and corporate scandals revealing discriminatory pay practices. As a result, investors, customers, employees and the law are all calling for progress on wage equality.

Is progress being made? It’s hard to say, but it is probably nowhere near enough as is needed. Some attribute this to the “pipeline” issue. That is, men and women freely choosing entirely divergent professional paths. The theory goes that men choose careers such as investment banking and software engineering and women choose professions such as nursing and teaching whose pay rates have been set (lower) by the natural market forces of supply and demand (or perhaps because of the long history of putting less value on women’s work). But if you look at computer programmers, women used to dominate the industry, then men flowed in. The pay automatically increased and the profession was viewed as more desirable. By contrast, as women flow into historically male professions, pay actually drops.

Some companies have made attempts to address the pay equity issue, but they’re often employing outdated approaches or third-party consultants. Reliable, scalable and accessible solutions have been limited. As a result, many companies have shied away from the issue of pay equity altogether, viewing it as simply too burdensome to tackle. Such lethargy produces pay practices which only perpetuate the gender pay gap. Unfortunately, women (and other underrepresented groups) can be faced with an uphill and solitary battle on the journey to equality.

Any effort to eradicate pay disparity in the workplace must be vigorously supported by the CEO, the leadership team and the board. If a board of directors or CEO is not genuinely dedicated to such an effort, then that effort will not happen, or will eventually fail. As a CEO, why should this be top-of-mind for you and your team?

Well, at a very fundamental level, it’s the right thing to do. When companies commit to equal pay for equal work, they send a powerful message to their current employees, future hires and their customers that they stand for something that is important to all, not just women. Additionally, having a fair and transparent pay process increases satisfaction and decreases turnover. A Gartner study revealed that there is a $16 billion cost for turnover in the tech industry alone.

If your organization does not yet have a robust and ongoing strategy for achieving pay equity, here is a step-by-step guide to help you check for pay disparities and commit to resolving them:

Step 1: You can’t stick your finger in the air as a gauge of pay equity. It takes asking the right questions and conducting detailed analyses. Make sure you have enough resources and technology in place to allow you to examine your data quickly and identify unfavorable trends.

Step 2: Shift the mindset from “protect and defend” compensation data to “find and fix” any gaps. This requires you to have the courage to share the results of your analysis in Step 1, but also the discipline to resolve any anomalies.

Step 3: Companies regularly ensure they are at market, so why not make pay equity a part of ongoing compensation benchmarking? Committing to regular and frequent pay analysis is the best way for companies to ensure they stay on top of this issue.

The CEO should be the catalyst for the organization’s journey to pay equity, but other key stakeholders such as the broader leadership team, the HR function, and middle managers are also key to success. There are many ways to fully involve these groups:

• Make it personal: Research has shown that the pay gap in groups of male managers who have daughters is smaller than amongst managers without daughters. This means that when an issue is personal, behavior changes no matter the gender.

• Make it a leadership issue: If you have a gender pay gap, it is a failure of leadership. Leaders have a role and responsibility to address this. As CEO, you must communicate with HR and managers, articulate the philosophy and strategy to achieve equal pay, and make sure to constantly share metrics and progress with managers and HR, so they can share with employees and external audiences. Commit to a quantitative approach to decide how pay is determined, setting salary ranges for each role, and then make these ranges available to your employees and recruits.

• Make it inclusive: It is not solely an issue to be discussed at a women’s leadership meeting. Make it a key agenda item for your next board meeting and your executive team meetings.

A good first step to kick-start this journey is to run a pay equity analysis leveraging a trusted solution with a vetted methodology. By utilizing a data-science powered software solution, you can determine where there are unexplained pay gaps and where you may need to employ remediation tactics to preserve your company’s culture and maintain legal compliance.

Source: Chief Executive

 

Strategising Customisation and Privacy in the Digital Age

by David Dubois, INSEAD Associate Professor of Marketing, and Joanna Teoh, INSEAD

Five golden rules to effectively balance personalisation and customer protection.

From AI-enabled chatbots to ads based on individuals’ search or social media activities, digital data offer novel ways to connect with customers. These connections can develop into intimate customer relationships that boost satisfaction, engagement and ultimately loyalty. Consider Netflix’s recent personalisation strategy, which enabled viewers of its series Bandersnatch to choose the main character’s actions throughout the episode, leading to five unique endings.

But there is a point where customer intimacy and invasion of privacy blurs. For instance, as early as 2012, Target predicted a teenage customer’s pregnancy through her historical purchase pattern data and sent her baby-related coupons, to the surprise of her own parents.

Where to draw the line between customer-benefitting personalisation and intrusion? This question is increasingly at the heart of every C-level executive’s agenda. In the digital age where data has become overabundant – 90 percent of the world’s data was produced in the last two years – corporations face the urgent need for a “data chart” defining their philosophy around the collection and use of customer data as it relates to value creation. Continue reading

To Be a Great Leader, You Need the Right Mindset

by Ryan Gottfredson and Chris Reina

Organizations worldwide spend roughly $356 billion on leadership development efforts. Yet, the BrandonHall Group, a human capital research and analyst firm that surveyed 329 organizations in 2013, found that 75% of the organizations rated their leadership development programs as not very effective. Why aren’t companies getting more bang for their leadership development buck? Our latest research suggests it’s likely because most leadership development efforts overlook a specific attribute that is foundational to how leaders think, learn, and behave: their mindsets.

Mindsets are leaders’ mental lenses that dictate what information they take in and use to make sense of and navigate the situations they encounter. Simply, mindsets drive what leaders do and why. For example, they explain why two different leaders might encounter the same situation (e.g., a subordinate disagreement) and process and respond to it very differently. One leader might see the situation as a threat that hinders their authority; another as an opportunity to learn and further develop. When leadership development efforts ignore mindsets, they ignore how leaders see and interpret problems and opportunities like this one.

You may wonder: if mindsets are so important, which ones should you help your leaders develop? In our recent work, we broadly scoured research across the social sciences to understand the various mindsets that individuals may possess. In doing so, we identified four distinct sets of mindsets that have been found to affect leaders’ ability to engage with others, navigate change more successfully, and perform in their leadership roles more effectively.

Growth and Fixed Mindsets. A growth mindset is a belief that people, including oneself, can change their talents, abilities, and intelligence. Conversely, those with a fixed mindset do not believe that people can change their talents abilities and intelligence. Decades of research have found that those with a growth mindset are more mentally primed to approach and take on challenges, take advantage of feedback, adopt the most effective problem-solving strategies, provide developmental feedback to subordinates, and be effortful and persistent in seeking to accomplish goals.

Learning and Performance Mindsets. A learning mindset involves being motivated toward increasing one’s competence and mastering something new. A performance mindset involves being motivated toward gaining favorable judgements (or avoiding negative judgements) about one’s competence. Leaders with a learning mindset, compared to those with a performance mindset, are more mentally primed to increase their competence, engage in deep-level learning strategies, seek out feedback, and exert more of an effort. They are also persistent, adaptable, willing to cooperate, and tend to perform at a higher level.

Deliberative and Implemental Mindsets. Leaders with a deliberative mindset have a heightened receptiveness to all kinds of information as a way to ensure that they think and act as optimally as possible. Leaders with an implemental mindset, as the name suggests, are more focused on implementing decisions, which closes them off to new and different ideas and information. Comparing the two, leaders with deliberative mindsets tend to make better decisions because they are more impartial, more accurate, and less biased in their processing and decision making.

Promotion and Prevention Mindsets. Leaders with a promotion mindset are focused on winning and gains. They identify a specific purpose, goal, or destination and prioritize making progress toward it. Leaders with a prevention mindset, however, are focused on avoiding losses and preventing problems at all costs. Research has found that those with a promotion mindset are more prone to positive thinking, more open to change, more likely to persist despite challenges and setbacks, and demonstrate higher levels of task performance and innovative behaviors compared to leaders with a prevention mindset.

Once you have a better understanding of these mindsets, you can tailor your leadership training programs to unlock most effective ones in your managers. A great example of an organization that leveraged the power of mindsets in this way is Microsoft. From 2001-2014, Microsoft’s market capitalization and stock price largely stayed the same. But, in 2014, when Satya Nadella took over, he made it his mission to revamp the leadership and the culture at Microsoft. In his book, Hit Refresh, Nadella explains that mindsets– particularly growth mindsets– were his primary focus when revamping Microsoft. With this leadership, the company’s market capitalization and stock price has more than tripled.

This is just one example that shows that if organizations want their investment in leadership development to more fully pay off, it is essential that they prioritize mindset development — specifically by targeting growth, learning, deliberative, and promotion mindsets. As leaders cultivate each, their thinking, learning, and behaviors will naturally improve because they are seeing and interpreting their situations more effectively.

Source: HBR

How Do You Know If You Have The Right Talent To Be Positioned For Success?

by Larry Janis

Having the right talent in the right roles is essential for a successful business strategy. Strategy execution demands a thorough evaluation of not only people, but also of their roles and responsibilities, their impact and their alignment with the company’s business goals.

Corporate leadership and business leaders focused on strategy execution need a talent assessment program that functions as an extension of their strategy planning that addresses the following thoughts and processes:

  • An understanding of the talent implications associated with the strategy. Without this context, talent reviews may provide a false sense of security and lead to misaligned, well intended talent plans that actually work against the strategy.
  • Differentiation between important and critical roles. The successful execution of strategy requires talented people, more importantly talented people in the right roles. Without clear differentiation the people most likely to positively impact strategy may be in the wrong roles or not in the organization at all!
  • A facilitated talent discussion that evaluates talent in an integrated manner; standardizes the organizations’ talent “language” and calibrates talent between divisions, departments and teams.
  • A talent map that summarizes the organization’s talent “picture” in a simple, powerful format. The talent map can be easily referenced for future planned, or unplanned talent decisions.
  • A talent plan that captures the key talent actions required to support the strategy; assigns accountability for completion; encourages all leaders to accept responsibility for the organization talent pool; and provides a mechanism for tracking progress.
  • A partnership with an external recruitment firm that has a solid knowledge of your industry, your competitors and has the ability to react in a timely fashion to acquire the talent you have defined as essential to your business goals.

When planning changes to your staff, consider the following timing considerations:

  • Bringing in someone from the outside to fill a role lacking the talent required for a business initiative would typically takes four to six months.
  • Add in the time for onboarding, learning how your firm does things and understanding the capabilities of your firm: your talent acquisition time frame may extend upwards of one year for your new hire to be fully engaged and productive.
  • If your company operates in a competitive industry, factor in additional time to work through thinned out talent pool: your key competitors are likely seeking the talent they need to drive their businesses to the next level.

Talent processes linked to business strategies offer a considerable competitive advantage. Streamlining the implementation of the timeline, understanding the talent implications of your strategy and recognizing the talents you have and don’t have are critical to successful strategy implementation and differentiating your organization from the competition.

 

 

 

Vice President Media and Entertainment

The Senior BPS Sales Executive is responsible for achieving profitable sales growth by managing/closing multiple sales campaigns using deep sales process and offering or product expertise within a complex market or emerging market/white space.

Responsibilities: Grow the Business:  Drives sales opportunities to closure – increasingly selling a mix of defined solutions/extensions and new offerings or products into white space; wide range of service group offerings and deal structures

Develop Key Relationships:  Develops strong relationships with key client buyers: the Divisional head/C-Suite level; client decision making spanning multiple layers of organization.

Services offered: Our client offers strategic Business Process as a Service (BPaaS) solutions that are tailored to help our customers across industries to run, change, and grow their businesses, while enhancing the end-user experience across channels.

Experience:

  • 10- 15 years’ experience in BPS business development in Media and Entertainment
  • Proven ability to develop new BPS business and meet quotas ($2-$5 million)
  • Excellent communication skills and high level of maturity
  • Superior relationship management and networking skills for both internal and external customer/s
  • Excellent client handling skills, with ability to present and articulate various points of view
  • Ability to forge relationships across and throughout the internal organization

Personal Characteristics:

  • The ideal candidate is able to operate successfully in a fast-paced, ever-changing environment.  Energy, drive and an entrepreneurial spirit are necessary characteristics for success.
  • Strong and capable leader, able to win the confidence and trust of his/her team, shape the culture, and exert influence both internally and externally
  • Ability to establish immediate credibility among his/her peers, a professional who is respected for his/her leadership, intelligence and expertise
  • Superb negotiator and communicator

Location:

West coast

If this could be of interest , please let me know

Larry Janis

Managing Partner I Integrated Search Solutions Group

P-516-767-3030 I C-516-445-2377

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