GBA Gender D&I Working Group February 2018 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
AGENDA - Session 4: Retention To what extent does our workforce reflect our customers? Welcome and Objectives 10 minutes Why Rethink Recruiting? 25 minutes Leverage Points for Change 20 minutes BLC Presentation and Discussion 30 minutes Closing 5 minutes 2 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
Working Group Participating Institutions Participating Institutions Access Bank Nigeria Chase Bank BAC San Jose Ficohsa BancoEstado Garanti Bank Banco Itau HBL Banco Nacional de Costa Rica (BNCR) IDB Banco Pichincha IFC Bank al Etihad IMON International Bank of Palestine KCB Kenya BanRegio PostBank BFL Rawbank BHD Leon RBS BLC Bank Sanasa Development Bank BRED Bank TEB Centenary Bank WestPac 3 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
Session 4 addresses how institutions can take action to transform recruiting to advance women and support business goals Phase I: Phase III: Phase II: Align & Measure, Refine, Take Action & Engage Allies Diagnose & Re-align Working Group Modules Oct Nov Jan Feb Mar Apr May Jun Jul Take Action: Take Action: Take Action: Take Action: Measure and Align Diagnose Engage Professional Re-Align Recruiting Retention Advancement Refine Development How can we How can we make our build a Why does it To what extent Do we make How are we Are women Who needs to institution a How are we sustainable make business does our room for measuring in our be engaged for place where investing in our path toward sense for our workforce women to move progress organization this work to women will employees? women’s organization to reflect our up in our toward gender thriving? move forward? want to equality in address gender customers? organization? D&I? remain as they our D&I? climb the institution? career ladder? 4 Source: Mercer, Framework for an Effective Diversity Strategy. Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
Employers have several levers to control talent flow in their organizations Professional Recruitment Retention Advancement Development Diagnose Recruitment Collect and analyze data that tells you about hiring patterns in your organization to understand: • At what rates are your bringing in male and female talent at each level of your organization? • Where do applicants come from? 5 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
Today’s Objectives • Understand why you need to innovate your hiring strategies – The business imperative for bias-free recruiting and broadening talent networks • Identify your organization’s levers to improve recruitment outcomes for women – Policies and practices , including decision aids, talent strategy, and accountability systems – Leverage points , including mitigating unconscious bias and addressing stereotypes • BLC Presentation and Discussion – Learn how BLC formalized an approach to promoting gender D&I in recruitment 6 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
AGENDA Welcome and Objectives 10 minutes Why Rethink Recruiting? 25 minutes Leverage Points for Change 20 minutes BLC Presentation and Discussion 30 minutes Closing 5 minutes 7 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
The most immediate implications for recruiting efforts exist on an individual or institutional level 1. 2. 3. 4. Individual Institution Market Society 8 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
Hiring more diverse candidates means rethinking each stage of recruitment Screening Conducting Evaluating Making an Sourcing candidates resumes interviews candidates offer Source candidates De-bias processes and standardize procedures so that women and Make starting from a wider talent other underrepresented groups can advance in the hiring process salaries for the pool to increase same positions the number of equal for men and women who apply women 9 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
How can financial services institutions win the best candidates? Broaden recruiting networks to reach a larger and more diverse pool of applicants 60% of employers in financial services think that a lack of sufficient candidate pool is a barrier to recruiting more experienced women De-bias hiring processes so your organization is not disqualifying applicants based on gender More than 1 in 4 women in financial services have experienced gender discrimination when applying or interviewing for a job 10 Source: PwC, Gaining an Edge in the Competition for Talent: Inclusive Recruitment in Financial Services Survey (2017). Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
Rethinking hiring strategies positions your financial institution to react to business challenges FS institutions face challenges like… Potential response Lack of candidates / competition for talent Attract high-potential candidates before they are looking (e.g., engaging upstream Globally in all industries, 27% of women and 16% of men do of your immediate pipeline by engaging not believe that female applicants have the same chance of high-potential high school students) being selected for a position as male applicants Need for more specialized skills Recruit outside financial services from industries with transferable skill sets 72% of global financial services CEOs see the limited availability of skills as a threat to growth Negative perceptions about brand and culture Use company branding to demonstrate company values and signal you are an Three quarters of survey respondents reported that company employer of choice for women culture and reputation are “very important” factors for new job opportunities Almost 60% of members identified recruiting as a key learning priority for the Working Group, indicating GBA member institutions are grappling with challenges like these. Sources: eFinancial careers, Closing the Financial Services Talent Gap (2016); GBA D&I Survey; Iris Bohnet, What Works: Gender Equality by Design (2016); Oliver Wyman, Women in Financial Services (2016); PwC, 20 th CEO Survey: Key talent findings in the financial services industry (2017). 11 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
Recruitment that works for women is also recruitment that works for your business De- biasing recruitment… Will make your institution Expands your talent pool in an Responds to the unique human better at selecting both men era when 72% of CEOs see resource needs of the Women’s and women with the skills that availability of skills as the most Market match your needs serious threat to their business • • • Biased decision making hurts Female customers may have Broadening your hiring search applicants of all backgrounds, distinct financial needs and to bring in more women gives not just women and other challenges that call for a your institution access to more underrepresented groups different nature of service talent • • • De-biasing hiring procedures A gender-balanced sales force With rising female university will help you hire the best may help attract female enrollment globally, more person for the job, no matter customers women bring the competitive their gender skills required for business success …Is about becoming more competitive as a business • Transforming your hiring system is time- and labor-intensive, but a recruitment system which is biased has significant long-term costs associated with turnover and performance 12 Source: Boston Consulting Group, Women Want More (in Financial Services) (2009); PwC, 20 th CEO Survey: Key talent findings in the financial services industry (2017). Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
Recruiting at all levels is part of building a strong internal pipeline of female leaders It is worthwhile to invest in recruiting and nurturing women at all levels , in order to build the female talent pipeline that will sustain gender D&I at your institution in the long term In many markets, the conversation about gender D&I focuses on women in leadership It is important to address leadership while also addressing the retail and mid- management levels , where many women have the skills financial institutions need to succeed 13 Source: Mercer, When Women Thrive Financial Services (2016). Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
AGENDA Welcome and Objectives 10 minutes Why Rethink Recruiting? 25 minutes Leverage Points for Change 20 minutes BLC Presentation and Discussion 30 minutes Closing 5 minutes 14 Technical difficulties? Email diversity@gbaforwomen.org for assistance connecting during the call.
Recommend
More recommend
