September 2016 Bringing Diversity & Inclusion to Life at Work Meet Ruth Unleash Your Higher Power http://www.uqpower.com.au/higher-power-leaders

Welcome to Higher Power Leaders We’ve been fortunate to work with many leaders looking for a better way of doing business for the wellbeing of people and planet as well as their purpose and profits. Higher Power Leaders is all about bringing small group of humanist leaders each month together to have closed door, raw and real, elevated conversations. It’s great to have you join us today!

We’re passionate about As workplace humanists and culture advocates, we get excited about supporting leaders to adapt and create new ways of working in order to be sustainable and future proofed. Culture Business People Co-working Collaboration End of retirement Cloud computing Education reengineering Quadruple bottom line Generosity Economy Global nomads City based dwellers Massively mobile Energy Disconnection Depression Work / play / living

The Future of Work is Now Think back just 17 short years ago to the year 2000. - we’d all been bitten by the Y2K bug - Google just moved out of their garage in California - YouTube, SnapChat, Twitter and Instagram hadn’t been invented yet - Facebook’s creator Mark Zuckerberg was still in high school What a difference 17 years can make. Would you have predicted these changes and is there any reason to believe that the changes over the next 17 years won’t be just as profound? In the same way the physical environments in which we work and the decisions and process to hire, develop and promote people are about to change radically too. Tomorrow’s workplace is being shaped today. How inclusive are you?

“Diversity issues are not a gender or race problem, but a business challenge.” Fiona Krautil, Director of the Equal Opportunity for Women in the Workplace Agency www.UQPower.com.au

THE BUSINESS CASE FOR DIVERSITY & INCLUSION

Diversity is an opportunity to create dynamic and successful organisations of the future, which better reflect the society we live in. 

Despite diversity being good for business, progress towards more diverse organisations has been slow. Virgin Unite’s B Team and The Boston Consulting Group undertook research to understand why.

Their research illustrates the ‘Diversity Paradox’: That exclusively focusing on the representation of minority groups in an effort to create a more diverse workforce fails to achieve that end.

The report argued that employers should focus the bulk of their efforts on reframing the concept of diversity in their organisations.

So what specifically could be covered if we reframed diversity?

Source: http://bteam.org/plan-b/diversity-bringing-the-business-case-to-life/

5 KEY BENEFITS

“The findings were startlingly consistent: for companies ranking in the top quartile of executive-board diversity, Returns On Equity (ROE) were 53% higher, on average, than those in the bottom quartile.” McKinsey 2008 – 2010 review of 180 companies globally

“When Deloitte modelled the relationship between diversity and inclusion and business performance, we identified an ‘uplift’ of 80% when both conditions were high... the business outcomes are never as impressive as the high diversity and high inclusion combination.” Deloitte 2012 survey of 1,550 employees in 3 major Australian businesses

“Where workforce diversity is aligned with demographics, those employees are playing an increasingly important role in helping their customers connect with a diverse customer base.” Deloitte Review

As David Feitler puts it: “Groupthink may lead to a cohesive team, but one that will happily agree on the same costly mistake.” For optimum performance, it is crucial that business leaders consider ways to improve the diversity of their teams.

Senior leaders set the tone for their organisational culture Senior leaders set the tone for their organisational culture. “You have to be intentional and make sure that you populate your organisation with leaders who represent diversity. That creates an environment that allows those with a diverse background to say, ‘if they can, I can.’” James Rogers Chairman, Duke Energy

A 2020 WORKPLACE WILL NEED TO ATTRACT, DEVELOP AND ENGAGE EMPLOYEES ACROSS A RANGE OF DIVERSITIES.

There is a compelling and irrefutable business case for diversity, but even more fundamentally, valuing diversity ensures there are equal opportunities for all enabling everyone to thrive. #startwithU

DISCUSSION UQPower.com.au