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7 Practical Ways to Turn Diversity Into a Major Asset for your Company

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7 Practical Ways to Turn Diversity Into a Major Asset for your Company

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Sometimes we limit what constitutes diversity in the workplace. In this slideshare we look at what diversity is, what aspects we should be looking at when creating and managing teams and how it can become a major asset to your company and customers.

Sometimes we limit what constitutes diversity in the workplace. In this slideshare we look at what diversity is, what aspects we should be looking at when creating and managing teams and how it can become a major asset to your company and customers.

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7 Practical Ways to Turn Diversity Into a Major Asset for your Company

  1. 1. Daniel Dean Product Marketing Manager BambooHR Sonnet Lauberth Compensation Professional PayScale
  2. 2. Functional Fixedness
  3. 3. A New Perspective
  4. 4. Mitigating Risk
  5. 5. Diversified Investment
  6. 6. Diversified Investment
  7. 7. Defining the Issues
  8. 8. Why Are We Talking about Diversity? Who needs to hear about diversity in 2016? Haven’t we “been there/done that” already?
  9. 9. Defining the Issues Diversity presents challenges. Bias is human. Bias can be FOR or AGAINST. Diversity should be handled with intention.
  10. 10. What Do We Mean By “Diversity”? It’s a wide range of differences.
  11. 11. The Workforce Is Becoming Larger and More Diverse Source: http://www.amren.com/news/2015/03/official-census-bureau-projection-for-2060/
  12. 12. … our customers certainly are. But even if the workforce isn’t becoming more diverse
  13. 13. Bias and Workplace “Currency” Types of workplace currency • Cash • Work assignments • Development opportunities • Promotions • Perks (e.g., working from home) • Favor Currency greases all the workplace wheels
  14. 14. Diversity & Experience
  15. 15. Diversity of Experience TIME
  16. 16. Diversity of Experience TIME TENURE
  17. 17. Diversity of Experience TIME INDUSTRYTENURE
  18. 18. Diversity and Compensation
  19. 19. Ensuring Fair Pay
  20. 20. Develop Your Plan ➤ Philosophy ➤ Strategy ➤ Structure ➤ Guidelines/Policies ➤ Processes
  21. 21. Identifying and Resolving Inequities
  22. 22. Equity Pay Self Audits – Pros and Cons
  23. 23. Manager Favoritism
  24. 24. A Note on Negotiation Studies show a difference in negotiating skills by gender.
  25. 25. Diversity & Opinion
  26. 26. Empathy CommunicationSensitivity Courage Diplomacy EmpathyDiscussion
  27. 27. Decision Paralysis
  28. 28. Diversity Beyond Compensation
  29. 29. Diversity vs. Inclusion
  30. 30. Employee Relations Develop clear antidiscrimination policies to mitigate employee relations issues before they arise.
  31. 31. Training and Development of employers plan to use L&D programs to retain and recruit their employees.
  32. 32. Immediate Actions  Examine your workforce – who works at your organization? What types of diversity do you already celebrate? Where is there room for improvement?  Assess your managers’ skillsets – do they have the capacity to effectively create an inclusive environment?  Review your comp plan – is it set up in a way to minimize or eliminate discrimination concerns?  Explore the forms of workplace “currency” in place at your organization – are they set up for success?
  33. 33. Diversity & Skill
  34. 34. Hard Skills Skills that are learned to perform a specific job function and are more easily identifiable and quantifiable. Mostly about “what you know” VS Soft Skills Skills that are less tangible, and more associated with one’s traits or personality, that determine how we interact. Mostly about “how you act”.
  35. 35. 18th Century 19th Century 20th Century 21st Century Agricultural Age (farmers) Industrial Age (factory workers) Information Age (knowledge workers) Conceptual Age (creators and empathizers) Affluence Technology Globalization High Low Abundance Automation Asia Dan Pink A Whole New Mind
  36. 36. Soft Skills Hard Skills Soft Skills
  37. 37. Soft Skills
  38. 38. Follow BambooHR and PayScale on social media: bamboohr.com/blog | payscale.com Thank you!
  39. 39. Questions? BambooHR Receive a free job posting on our ATS and full HRIS for one week. We will contact everyone within the next few days to set this up. Download our free 2016 Compensation Best Practices Report at http://www.payscale.com/cbpr PayScale

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