XXX FIRM Business Case Communication Retaining & Developing Women Leaders Improving Gender...
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XXX FIRM Business Case CommunicationRetaining & Developing Women LeadersImproving Gender Diversity
American Institute of CPAs®
Current State of Affairs – 2010 Women in Corporate America and Public Accounting
Women comprise more than 50 % of the US Labor Force
Women hold 32% of first level manager roles in industry, 50% in public accounting
Women hold 35% of mid management positions in industry, 35% in public accounting
Women hold 12% of CEO/senior executive Roles
Women hold 19% of the total partner positions in CPA firms
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Percentage of Women by Level at CPA Firms - AICPA Data
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Business Drivers - Profession
Accounting graduates have been at least 50% female for 25 years
Baby boomer outflow
Changes also reflected in our marketplace
Talent acquisition/retention and succession planning are the top two concerns of firms all sizes
Competitors for talent may be ahead of us in the race
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Business Drivers - XXX Firm
Quantitative
Link to firm strategy
Changes also reflected in our marketplace
Competitors for talent may be ahead of us in the race
Talent acquisition, succession planning concerns
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Business Drivers - XXX Firm
Quantitative
• Retention statistics
• Advancement statistics
• Cost of turnover
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Percentage of Women by Level - XXX Firm
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Cost of Turnover
Standard industry measures• 1.5x annual salary• Includes loss of productivity, hiring cost, training cost
Conservative four years totals
$x Million
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Business Drivers - XXX Firm
Link to Firm Strategy
• Risk to growth strategies- Growth target xx% unachievable without advancement of women- XXX Niche will not progress without movement forward of female leaders- Geographic expansion, acquisition goals can be impacted by lack of leaders and/or lack of gender
diversity in leadership
• Talent attraction and development- Candidates are looking for progressive firms- Female candidates will be significant percentage of total and will look for firms where women are succeeding
• Profitability- Turnover of key experienced staff impacts efficiency, effectiveness of engagements- Loss of female staff with specific technical skills to support niche area growth- Lack of progression of female staff can impact growth geographically or niche areas
• Innovation- Lack of diversity of thought in approaching new markets, ie; female owned businesses- Lack of diversity of thought in new products or solutions to take to market
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Business Drivers - XXX Firm
Changes also reflected in our marketplace
• Client decision makers, owners
• Demographics of essential networks
• New networks
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Business Drivers - XXX Firm
Succession planning concerns
• Competitors for talent may be ahead of us in the race
• Talent attraction and retention
• Talent development and advancement
• Exit strategies
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Business Case Conclusions
Sustainable growth models
Sustainable succession planning models
Viable exit strategies
Bottom line impact of talent shortages
Increased need for diverse talent that:
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What are the Barriers to the Advancement of Female Leaders?
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The Barriers to Retention and Development of Female Leaders:
Career Sponsorship & Navigation
Access to Female Role Models
Work/Life Integration
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Career Sponsorship & Navigation
Unequal access to career development and advocacy experiences
Stereotyping, unconscious bias
Traveling without a road map
Self Selection (Opting Out)
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Limited Access to Female Role Models
Stunts the growth of aspirations
Maintains stereotyping
Lack of diversity in role models
Lack of access limits ripple effect of successes
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Career/Life Integration
Rigid career models
Lack of customization
Demands of the profession
Societal norms (systemic unconscious bias)
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XXX Initiative Next Steps
Initiative structure
Communication plan
Firm leadership awareness and education
Sponsor program
Determine opportunities to improve flexibility culture and career customization programs
Networks and skill building for women leaders
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Initiative Structure
Clear leadership involvement
Accountability
Governance mechanism necessary
Execution ownership by business
HR key player
Communication function-active and consistent
Metrics
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Initiative Structure-Sample
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Initiative Structure - Roles
Steering Committee• Facilitate vision, strategy setting• Monitor execution of strategy, results & ROI• Communicate with firm leadership
Line of Business Reps• Strategy execution• Ongoing tie of initiative strategy to business strategy
Sponsors• Use of political capital• Increase access to stretch appropriate opportunities • Proactive management of barriers
Network ( Strategic Roll Out-Aligned with Business Case
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Communication Plan
Targeted audiences for communication
Targeted messages to specific audiences• Communication of business case • Structure • Strategies and action plans• Early successes• Results
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Firm Leadership Awareness
Awareness, buy-in, and commitment of Firm leaders is essential and foundational for success
Comprehensive understanding of the business case and the link to Firm strategy is the foundation of the necessary awareness raising effort
Essential educational efforts regarding unintended bias and unintended consequences
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Career Sponsorship
Targeted focus on a specific group of leaders
Sponsors assigned• Ensure key success factors are in place• Access to strategic opportunities and stretch assignments • Assignments align with targeted career goals
Opportunity for interaction with female role models
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Targeted Coaching and Career Sponsors
High influence - high impact career advocate
Regular connection points
Long term career focus, specific staged goals
How short term goals connect to long term focus
Customized personal and professional planning
Organizational guide - how to increase value proposition?
Accountability
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Targeted Coaching and Sponsorship
Career Reflection & Action PlanningIn depth aspirations reflection
Analysis of barriers, real vs. perceived
Short and long term focus
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Flexible Culture Assessment
Identify career path inflexibility • Supported by policies, norms may camouflage unintended bias
Clarification of flexibility philosophy in the organization• Two way commitment and two way flexibility regarding issues of
unbounded time• This is not just about part time work arrangements• Impacts men and women but must be improved to improve
gender diversity
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Skill Building and Networking Opportunities
Strategic focus on education and awareness gaps, not a social network
Awareness raising regarding Firm norms, socialization factors affecting them inside the culture, bias, etc.
Exposure to diverse examples of success
Forums and other events to gather visible female roles models and examples of success within the organization, profession, and the market
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Networking & Leadership Development
Access to visible female role models
Peer learning
Visible success stories
Understand how to increase value proposition
Awareness raising regarding Firm norms, socialization factors affecting them inside the culture, bias, etc.
Hope, energy, organizational credibility
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OrganizationsBusiness case Governance structureCommunication strategyBaseline surveyDiagnostics & prioritization of strategies to address barriers
IndividualsTraining for women leadersNetwork for women leaders• Only after business case,
buy in and diagnostics are complete
Career advocacy pilot
Action Plan – Phase One Example
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OrganizationsBusiness case communication continuedGovernance structure evaluated and adjusted as appropriateContinued prioritization of strategies to address barriersInstitutionalize education, awareness, accountability strategiesSurvey II & comparison to baseline survey
IndividualsOngoing training for women leadersNetwork for women leaders expanded and taken from pilot phaseCareer sponsor program designed from pilot learning
Action Plan – Phase Two Example
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