Diversity Executive - November 2008 - (Page 59)

During the past ﬁve years, this response has shifted. More organizations and their leadership teams understand that winning talent management practices require access to the full range of available talent, regardless of an employee’s sex, color or sexual orientation. Many leaders also understand they need ﬁrsthand knowledge of new markets they seek to enter. Commercial banks, for example, have greatly increased hiring of Hispanic professionals and executives due to the strong growth of the Latin American population in the U.S. The emergence of these business drivers is evident in the executive searches that organizations of all sizes and types have conducted in recent years; diversity frequently rates as one of the top two or three issues executives and corporate directors identify when initially sitting down with executive search ﬁrms to plan high-level searches. This trend explains the seriousness of the risks identiﬁed by the Level Playing Field Institute study. Twenty-seven percent of respondents who experienced unfairness at work within the past year said their experience strongly discouraged them from recommending their employer to other potential employees. Fifty-eight percent of respondents reported that unfairness has led them “to some degree” to discourage others from seeking a job at their former employer. Furthermore, 13 percent of these same respondents indicate their experience strongly discouraged them from recommending their employer’s products or services to others. And 51percent report unfairness led them “to some degree” to discourage others from purchasing products or services from their previous employer. Passing over candidates for promotion due to personal characteristics and fostering a culture in which employees are publicly humiliated are types of unfairness most frequently cited by professionals who leave their jobs due to unfairness. By engaging in these forms of tokenism, organizations limit their ability to harness the competitive advantages of a diverse workforce. Companies can avoid cultivating a culture of unfairness, but the answer begins at the top. Organizations with the most highly evolved approaches to diversity almost always feature a chief executive and a board of directors that proactively communicate the importance of the issue throughout the organization. They do so through numerous actions, including the appointment of chief diversity ofﬁcers and the creation of diversity councils. The reporting relationship of the CDO and the diversity council are also important: having them report directly to the CEO, rather than the chief operating ofﬁcer (COO) or the top human resources executive, sends a strong message. Creating and sustaining an organizational culture that fosters fairness requires more than CEO support. The effort involves nearly every business process, including executive and director recruiting. ‘It’s All About the Pool’ As a board member, Collins has served on search committees for numerous executive and director hires. She said the key to successfully creating a diverse pool of candidates is straightforward: Hire a good search ﬁrm. Collins said that approach is accepted in corporate America because there’s a perception that the recruiting playing ﬁeld is level for candidates of all sexes, races and sexual orientations. “I’ve found it is a lot easier to present candidates based on their credentials than to lead with the fact that they are a diversity candidate,” she said. “It’s all about the pool. Then, you have the luxury of picking the best person because you know you’ve made the selection from a diverse pool.” The following steps describe ways diversity leaders and executive teams can select the most effective executive search ﬁrm and help ensure the success of the entire screening and hiring process: BUSINESS INTELLIGENCE continued on page 62 27 percent The portion of respondents who experienced unfairness at work within the past year and said their experiences strongly discouraged them from recommending their employer to other potential employees. $64b illion The cumulative annual cost of turnover due to workplace unfairness. 59

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

Diversity Executive - November 2008 Editor’s Letter Contents Leadership Connections Guest Editorial Diversity Executive Online Middle Management Roadblock ‘Hidden Winds’ Hinder Progress The Domino Effect Supplier Partnerships Unlock Economic Opportunities Measuring Diversity Special Section: Who’s Who in Diversity and Inclusion Dimensions of Difference Overcoming Language Diff erences Business Intelligence: Combating Subtle Discrimination Case Study: Shifting Diversity Into Overdrive Advertisers’ Index Editorial Resources Strategies

Diversity Executive - November 2008

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