Diversity Executive - September 2008 - (Page 59)

Lesson 2: Few companies have a head of diversity. While the title chief diversity ofﬁcer has grown in popularity during the past few years, today, a full 68 percent of the companies surveyed do not have a dedicated head of diversity. The smaller the company, the less likely it has this position. Ninety-ﬁve percent of organizations with fewer than 1,000 employees don’t have a chief diversity ofﬁcer, compared to 63 percent of employers of more than 10,000 workers. Reporting relationships were somewhat enlightening. When a chief diversity ofﬁcer is in place, that individual usually reports to the head of human resources (68 percent). However, almost a quarter of respondents (23 percent) said the chief diversity ofﬁcer reports to the CEO. That kind of visibility can make diversity a priority in an organization. The diversity buck hardly stops at the CEO’s desk. Just 31 percent of companies overall said their CEOs are subject to annual diversity reviews, and only 23 percent of companies overall report that diversity-related results are tied to compensation. Almost 20 percent of companies admit their leaders are simply not held accountable for driving diversity. Lesson 3: To the degree they exist, organizational diversity teams focus on strategy and training. When diversity teams are in place, they can have a signiﬁcant impact on how effective diversity and inclusion efforts are in an organization. The ﬁrst task of a diversity team often is to develop the organization’s diversity strategy. Of the surveyed companies that have diversity teams, 39 percent said the teams’ primary role is to develop diversity strategies. When asked which strategies these teams use to integrate diversity and inclusion initiatives, 49 percent said they put education programs in place. Nearly a third (32 percent) implement corporate diversity councils. More than a quarter focus on the top: 27 percent use annual CEO diversity reviews to improve efforts in their organizations. As before, the larger the company is, the more widespread the use of training on diversity. Seventy-three percent of large companies report using education programs to supFigure 3: Presence of a Global Diversity Strategy Within an Organization On the Web Read more about how to improve initiatives at www.diversity-executive.com/lessons. port diversity initiatives, compared with 44 percent in companies with fewer than 1,000 employees. Lesson 4: The majority of companies do not have a global diversity strategy. Finally, there is a lack of focus on diversity at most companies — 65 percent of companies do not have a worldwide diversity strategy. However, of companies that do, program support revolves around several core areas such as periodic reviews, training initiatives and communication. So what can companies do to improve their diversity initiatives? Mary Key, i4cp’s head of leadership, offers six steps: 1. Conduct an in-house survey to determine the level of knowledge about diversity issues in the organization. 2. Engage and enlist the help of top leadership. 3. Develop a system of accountability tied to bonus compensation. 4. Integrate diversity strategies with talent management objectives. 5. Create channels to develop diverse talent and move that talent into leadership positions. 6. Keep in mind you want to ﬁnd and develop the best talent available, not ﬁll quotas. Successful diversity programs take focus, accountability and teamwork. Once companies recognize the important role diversity and inclusion play in their talent management efforts, these elements should kick into full gear. « Kevin Oakes is the CEO of the Institute for Corporate Productivity (i4cp). He can be reached at editor@diversity-executive.com. Figure 4: Strategies/Tactics the Diversity Team Uses to Integrate Diversity and Inclusion Education programs 48.5% 32.1% 26.9% 14.2% 9.7% 20.9% Yes 35% No 65% A total of 206 HR professionals participated in the “Taking the Pulse: Diversity and Inclusion” survey in March. Corporate diversity councils Annual CEO diversity councils Regional diversity councils None Other Source: i4cp, 2008 A total of 206 HR professionals participated in the “Taking the Pulse: Diversity and Inclusion” survey in March 2008. Source: i4cp, 2008 September/October 2008 | www.diversity-executive.com | Diversity Executive 59 http://www.diversity-executive.com/lessons http://www.diversity-executive.com

Table of Contents Feed for the Digital Edition of Diversity Executive - September 2008

Diversity Executive - September 2008 Editor's Letter Contents Leadership Connections Guest Editorial Diversity Executive Online 2042: A New Business Era Begins The Rules of Attraction Where to Look for Diverse Talent Like Minds Think Great Culture Teams Target Business Opportunities at Luxottica Retail Special Section Rebalancing Gender At ING Americas, the Color of Diversity Is Orange Profile Business Intelligence Case Study Strategies Advertisers' Index Editorial Resources

Diversity Executive - September 2008

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