Diversity Executive - November 2008 - (Page 60)

CASE STUDY Shifting Diversity Into Overdrive Auto parts company General Parts Inc. is leveraging organizational diversity to appeal to an expanding and diversifying customer base. By executing a top-down, organization-wide strategy that includes systems, cultural and talent-related changes, the company plans to ensure its place as a viable player in the auto marketplace. By John E. DiBenedetto, Ph.D. The diversity of the consumer pool in North America is expanding dramatically and businesses are increasingly focused on capitalizing on the phenomenon. Diverse groups of people also bring to organizations different ways of seeing a problem and, as a result, more effective ways of solving it. With the projected increase in these emerging markets, smart businesses are paying attention to the demographics. And so is leading auto parts organization General Parts Inc. (GPI), the parent company of Carquest and Worldpac. Carquest, a 3,400-store domestic aftermarket auto parts network of company- and independently owned stores and its sister company, Worldpac, the largest original equipment distributor of imported aftermarket auto parts, are proactively responding to these changes on many fronts, one of which is a commitment to diversity. “We believe that diversity is a core business strategy which will leverage our teammates to create a sustainable competitive advantage. If we’re to become a global brand of excellence, we must embrace the changing demographics of the workforce and our customers by recruiting, promoting, developing and retaining the most talented teammates,” said company President Temple Sloan III. Sloan said organizations that emphasize an understanding of diverse perspectives receive stronger and more sustained growth through the creation of ideas, products and services. For this reason, GPI launched a new diversity strategy earlier this year that began at ground zero. “Our approach will be threefold, starting at the very top of the organization with a well-crafted vision and strategy, and assuredness of overall readiness; creating and implementing proven and tested programs, policies and systems; and measuring and reporting key performance indicators to assure traction and continuous improvement. We will achieve our diversity goals through leadership, teamwork, governance and accountability.” The following steps will enable the company’s diversity journey: 1. Develop a multiyear diversity strategy. GPI’s leadership team realizes only incremental gains can be made each year. As such, it has crafted aggressive, but realistic yearover-year goals. Each functional unit will have agreedupon goals that will be cascaded throughout the organization. Results will be measured and reported in the company’s new HR scorecard, and leaders will be held accountable for goal attainment through the company’s performance management process. 2. Assure teammate understanding that diversity is both a business necessity and the right thing to do. The driving force for the company’s diversity initiative comes directly from the realization that customers buy from those they are most comfortable with, and that often means from people who look just like them. North America is no longer a melting pot. In fact, it has evolved to become a multicultural mosaic. Diverse populations represent enormous economic and purchasing power. Women and ethnic minorities are expected to increase signiﬁcantly, and Latino, Asian and African-American purchasing power is swelling. These shifts represent huge opportunities for the automobile aftermarket. 3. Select an accomplished external diversity partner to help guide the way. Cincinnati-based Global Lead 60 Diversity Executive | www.diversity-executive.com | November/December 2008 http://www.diversity-executive.com

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

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.