Low pay is a dissatisfaction for employees but high pay by itself won’t keep the best people around. Transactional leadership might be a motivator when money and better benefits are available, but today’s climate seems to lend itself more to transformational leadership where a caring leadership can stimulate innovation, creative thinking, and productivity.
In Healing the Wounds, David A. Noer writes how the emotional impact of downsizing and the subsequent extra workload disturbs employee morale and productivity long after the fact. The study found that such feelings of stress, fatigue, and depression can last five years and more, imposing a strain on organizations’ competitiveness. Not only was there a sense of unfairness and anger over top management pay and severance, but symptoms of insecurity, anxiety, and fear that discouraged innovation and creative thinking. As Noer wrote, “There seemed to be a much stronger feeling among lay-off survivors that the organization was not in the business of looking out for its employees and that their loyalty was to themselves and to their unit, not to the overall organization.”
Clearly, after as much as five years, employees still suffered from the “survivor-blaming phenomenon,” as Noer called it. Managers and their staffs were unhappy and could be easily tempted to check out other job possibilities if they surfaced. New recruits heard stories that made them question their decision to join the company ranks.
Gallup, one of the world’s top research organizations, has always found the ratio of engaged to disengaged employees to be problematic. The recent economy would suggest the situation to have become more severe. This would suggest a review of corporate management practices to see that these 12 elements as proposed by Gallup are supported within the organization:
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To learn more about the American Management Association, click here.
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StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.
actions business leaders can take to improve their forecasts
what a ‘Flexible Supply Chain’ is and the benefits it provides
capabilities an organization needs to possess and steps leaders must take to develop a ‘Flexible Supply Chain’
methods to determine the amount of supply chain flexibility needed
how leaders can align their supply chain operations with the organization’s goals
key factors executives should consider when making decisions regarding which technologies to pursue in order to enhance their supply chain operations
Additional Information
Marshall’s book, The New Science of Retailing, that he co-authored with Ananth Raman, the UPS Foundation Professor of Business Administration at the Harvard Business School, can be purchased by clicking here.
Final Request…
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About the Author
Marshall Fisher, co-author of The New Science of Retailing, is the UPS Professor of Operations and Information Management at the University of Pennsylvania’s Wharton School of Business and co-director of the Fishman-Davidson Center for Service and Operations Management. To read Marshall’s complete biography, click here.
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Review of S&P 100 Shows Women Account For Fewer Than 1 in 10 Top Paid Executives, 1 in 5 Board Members.
Women may make up more than half the workforce1 but continue to be significantly underrepresented on corporate boards and in C-level executive positions, according to a major new study released today by Calvert Investments, a long-time leader in advocating for corporate diversity.
Examining the Cracks in the Ceiling: A Survey of Corporate Diversity Practices of the S&P 100 shows that out of the 100 CEOs represented in the survey, 92 were Caucasian males. Women make up approximately 18% of director positions within the S&P 100, and only 8.4% of the highest paid executive positions within the same group of companies.
Four Key Findings From the Report
The C-Suite is Still Hard to Reach – The study shows that non-white, non-male officers are rare. Over half – 56 companies – in the S&P 100 have no female and/or minority representation in their highest paid executive positions and only 14 companies have two or more diverse officers in these positions.
No Disclosure = No Accountability – The report found that 37% of the S&P 100 companies disclose no demographic data on employees, such as race, ethnicity and gender. Only 8 companies disclose full EEO-1 data, that is, a full breakdown of the workforce by race and gender across employment categories.
Integration and Innovation Abound – According to the report, 30% of the S&P 100 companies include some oversight of diversity issues at the board level and 34% of companies include diversity measures within their compensation plans.
Corporate Commitment Remains the ‘X’ Factor – Overall, 38% of the S&P 100 companies demonstrate a robust commitment to diversity, both internally and externally.
As an investor, Calvert recognizes that those companies that combine competitive financial performance with fair and equitable working environments where diversity is not only tolerated but embraced are likely to recognize gains in both the workplace and marketplace and be better positioned to generate long-term value for their shareholders.
“We are very concerned about the fact that women and minorities continue to be under-represented at the highest levels of management,” said Barbara J. Krumsiek, President & CEO of Calvert Group, Ltd. “Without a pipeline of female and minority executives in highly-paid, highly responsible positions, it will be very difficult to achieve board diversity, which is critical to strong governance and good management.”
Calvert’s study, published in October 2010, evaluated S&P 100 companies according to ten indicators, including: EEO Policy, Internal Diversity Initiatives, External Diversity Initiatives, Scope of Diversity Initiatives, Family-Friendly Benefits, EEO-1 Disclosure, Highest Paid Executives, Board Representation, Director Selection Criteria and Overall Corporate Commitment.
The study showed that companies of this size have a significant commitment to diversity. None of the companies scored zero, and 65 out of 100 companies scored at or above 70 points. Moreover, a few of the companies emerged as genuine leaders in the diversity movement, setting an example that other companies could emulate. Among the top-scoring companies were Chevron Corp., Citigroup Inc., Coca-Cola Co., JPMorgan Chase & Co. and Sara Lee Corp.
Still, the study also demonstrated how difficult it remains to measure progress, given major gaps in disclosure.
“We are concerned about the lack of disclosure, because data is critical to demonstrating progress in female and minority representation,” said Aditi Mohapatra, lead author of the report and analyst specializing in diversity issues in the Sustainability Research Department of Calvert Asset Management Company, Inc. “It is also important in evaluating the effectiveness of diversity initiatives. With better data, we could more readily compare the impact of various programs – such as dedicated management training for women and minorities, diverse employee resource groups, and recruitment and outreach initiatives – and recommend best practices.”
Calvert released the first edition of Examining the Cracks in the Ceiling in September 2008. That edition analyzed the corporate diversity practices of the companies held in the Calvert Social Index®. The 2008 report found that while nine companies within the survey showed no public commitment to diversity, only 3 percent demonstrated diversity excellence.
U.S. Bureau of Labor Statistics, February 2010 Report
About Calvert
Calvert has long been a leader in advocating for corporate diversity. In 2004, the Calvert Women’s Principles® became the first global code of corporate conduct focused exclusively on empowering, advancing and investing in women. In 2008, Calvert partnered with the City of San Francisco’s Department on the Status of Women and Verité to adapt the Principles for the Bay area and launched the Gender Equality Principles (GEP) Initiative. Last week, the three partners officially launched the companion website and self assessment tool available at www.GenderPrinciples.org. This launch was the culmination of a series of roundtables over two years which brought together companies and issue experts to translate the Gender Equality Principles into practical policies, tools, and indicators for direct implementation into the workplace.
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The StrategyDriven family would like to thank you, our listeners, for recognizing our StrategyDriven podcasts as some of the best business podcasts on the internet according to Podcast Alley! In October, the StrategyDriven Editorial Perspective Podcast was ranked second among the over 2,950 business podcasts listed on Podcast Alley and the StrategyDriven Podcast fourth among all business podcasts.
The strength of our community grows with the additional insights brought by our expanding member base. With your support, our community of listeners and readers has grown tremendously in the past several months. Please help us continue to grow by recommending the StrategyDriven Podcast to family, friends, and colleagues who you believe will benefit from listening.
Additionally, please consider voting for us monthly on Podcast Alley by clicking here. Casting your vote for the StrategyDriven Podcast improves our monthly ranking and helps us attract new listeners which, in turn, grows our community.
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Business Programs
Leadership Inspirations – A Better Tomorrow
/in Leadership Inspirations/by StrategyDrivenCharles F. Kettering (1876 – 1958)
American inventor and the holder of 140 patents
Set the Stage for Engagement
/in Management & Leadership/by Florence StoneLow pay is a dissatisfaction for employees but high pay by itself won’t keep the best people around. Transactional leadership might be a motivator when money and better benefits are available, but today’s climate seems to lend itself more to transformational leadership where a caring leadership can stimulate innovation, creative thinking, and productivity.
In Healing the Wounds, David A. Noer writes how the emotional impact of downsizing and the subsequent extra workload disturbs employee morale and productivity long after the fact. The study found that such feelings of stress, fatigue, and depression can last five years and more, imposing a strain on organizations’ competitiveness. Not only was there a sense of unfairness and anger over top management pay and severance, but symptoms of insecurity, anxiety, and fear that discouraged innovation and creative thinking. As Noer wrote, “There seemed to be a much stronger feeling among lay-off survivors that the organization was not in the business of looking out for its employees and that their loyalty was to themselves and to their unit, not to the overall organization.”
Clearly, after as much as five years, employees still suffered from the “survivor-blaming phenomenon,” as Noer called it. Managers and their staffs were unhappy and could be easily tempted to check out other job possibilities if they surfaced. New recruits heard stories that made them question their decision to join the company ranks.
Gallup, one of the world’s top research organizations, has always found the ratio of engaged to disengaged employees to be problematic. The recent economy would suggest the situation to have become more severe. This would suggest a review of corporate management practices to see that these 12 elements as proposed by Gallup are supported within the organization:
Hi there! This article is available for free. Login or register as a StrategyDriven Personal Business Advisor Self-Guided Client by:
Subscribing to the Self Guided Program - It's Free!
About the Author
To learn more about the American Management Association, click here.
StrategyDriven Podcast Special Edition 50 – An Interview with Marshall Fisher, co-author of The New Science of Retailing
/in Marketing & Sales, StrategyDriven Podcast/by StrategyDrivenSpecial Edition 50 – An Interview with Marshall Fisher, co-author of The New Science of Retailing examines the use of analytics to improve an organization’s supply chain performance in a way that ultimately enhances the bottom line. During our discussion, Marshall Fisher, co-author of The New Science of Retailing: How Analytics are Transforming the Supply Chain and Improving Performance
, shares with us his insights and illustrative examples regarding:
Additional Information
Marshall’s book, The New Science of Retailing
, that he co-authored with Ananth Raman, the UPS Foundation Professor of Business Administration at the Harvard Business School, can be purchased by clicking here
.
Final Request…
Thank you again for listening to the StrategyDriven Podcast!
About the Author
Podcast: Play in new window | Download (Duration: 26:11 — 36.0MB)
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Corporate Diversity Still Coming Up Short for Women
/in Diversity & Inclusion/by StrategyDrivenWomen may make up more than half the workforce1 but continue to be significantly underrepresented on corporate boards and in C-level executive positions, according to a major new study released today by Calvert Investments, a long-time leader in advocating for corporate diversity.
Examining the Cracks in the Ceiling: A Survey of Corporate Diversity Practices of the S&P 100 shows that out of the 100 CEOs represented in the survey, 92 were Caucasian males. Women make up approximately 18% of director positions within the S&P 100, and only 8.4% of the highest paid executive positions within the same group of companies.
Four Key Findings From the Report
As an investor, Calvert recognizes that those companies that combine competitive financial performance with fair and equitable working environments where diversity is not only tolerated but embraced are likely to recognize gains in both the workplace and marketplace and be better positioned to generate long-term value for their shareholders.
“We are very concerned about the fact that women and minorities continue to be under-represented at the highest levels of management,” said Barbara J. Krumsiek, President & CEO of Calvert Group, Ltd. “Without a pipeline of female and minority executives in highly-paid, highly responsible positions, it will be very difficult to achieve board diversity, which is critical to strong governance and good management.”
Calvert’s study, published in October 2010, evaluated S&P 100 companies according to ten indicators, including: EEO Policy, Internal Diversity Initiatives, External Diversity Initiatives, Scope of Diversity Initiatives, Family-Friendly Benefits, EEO-1 Disclosure, Highest Paid Executives, Board Representation, Director Selection Criteria and Overall Corporate Commitment.
The study showed that companies of this size have a significant commitment to diversity. None of the companies scored zero, and 65 out of 100 companies scored at or above 70 points. Moreover, a few of the companies emerged as genuine leaders in the diversity movement, setting an example that other companies could emulate. Among the top-scoring companies were Chevron Corp., Citigroup Inc., Coca-Cola Co., JPMorgan Chase & Co. and Sara Lee Corp.
Still, the study also demonstrated how difficult it remains to measure progress, given major gaps in disclosure.
“We are concerned about the lack of disclosure, because data is critical to demonstrating progress in female and minority representation,” said Aditi Mohapatra, lead author of the report and analyst specializing in diversity issues in the Sustainability Research Department of Calvert Asset Management Company, Inc. “It is also important in evaluating the effectiveness of diversity initiatives. With better data, we could more readily compare the impact of various programs – such as dedicated management training for women and minorities, diverse employee resource groups, and recruitment and outreach initiatives – and recommend best practices.”
Calvert released the first edition of Examining the Cracks in the Ceiling in September 2008. That edition analyzed the corporate diversity practices of the companies held in the Calvert Social Index®. The 2008 report found that while nine companies within the survey showed no public commitment to diversity, only 3 percent demonstrated diversity excellence.
For a full copy of the 2010 study, click here.
Source
About Calvert
Calvert has long been a leader in advocating for corporate diversity. In 2004, the Calvert Women’s Principles® became the first global code of corporate conduct focused exclusively on empowering, advancing and investing in women. In 2008, Calvert partnered with the City of San Francisco’s Department on the Status of Women and Verité to adapt the Principles for the Bay area and launched the Gender Equality Principles (GEP) Initiative. Last week, the three partners officially launched the companion website and self assessment tool available at www.GenderPrinciples.org. This launch was the culmination of a series of roundtables over two years which brought together companies and issue experts to translate the Gender Equality Principles into practical policies, tools, and indicators for direct implementation into the workplace.
To learn more about Calvert, click here.
StrategyDriven Podcasts Receive Top Honors in October
/in Announcements/by StrategyDrivenThe strength of our community grows with the additional insights brought by our expanding member base. With your support, our community of listeners and readers has grown tremendously in the past several months. Please help us continue to grow by recommending the StrategyDriven Podcast to family, friends, and colleagues who you believe will benefit from listening.
Thank you again for listening to and voting for the StrategyDriven Podcast !