TIAA CEO Thasunda Brown Duckett on Living Life Like a “Diversified Portfolio”

TIAA CEO Thasunda Brown Duckett on Living Life Like a “Diversified Portfolio”

In a recent episode of the This is Working podcast, TIAA CEO Thasunda Brown Duckett shared her unique perspective on work-life balance, which she believes is a “lie.” Instead, she approaches her life as a “diversified portfolio,” constantly recalibrating to ensure she outperforms over time.

Duckett emphasizes the importance of gratitude in maintaining productivity and highlights the value of being open to feedback and inspiration from diverse sources. This philosophy reflects a broader commitment to adaptability and inclusion, values that are essential in both personal and professional growth. Her insights are a powerful reminder of the importance of diverse perspectives in achieving long-term success.

https://www.linkedin.com/pulse/advice-ceo-financial-giant-always-gives-take-some-paths-daniel-roth-ubvme/

Denver Foundation Highlights the Impact of Diverse Asset Managers

Denver Foundation Highlights the Impact of Diverse Asset Managers

In a recent article, the Denver Foundation delves into the importance of investing with diverse asset managers. The piece emphasizes how diversity in asset management not only enhances investment performance but also aligns with broader goals of equity and inclusion.

By prioritizing diverse asset managers, organizations can achieve stronger financial outcomes while promoting a more inclusive financial industry. The article underscores the significant role that diverse perspectives play in driving innovation and resilience in investment strategies.

https://denverfoundation.org/2024/08/investing-with-diverse-asset-managers-for-stronger-performance/

Dramatic Increase in All-Male Boards Among Aim-Listed Companies

Dramatic Increase in All-Male Boards Among Aim-Listed Companies

According to a recent analysis by WB Directors reported by The Times, smaller Aim-listed companies are experiencing a troubling rise in the number of all-male boards. Despite the disappearance of all-male boards in FTSE 100 companies, smaller companies on the Alternative Investment Market (Aim) have seen a significant increase in gender imbalance. The count of Aim-listed companies with no female board members escalated from 108 to 187, marking 35% of the junior market’s companies as male-only boards, up from 18% in the previous year.

This rise is attributed to two main factors: the replacement of female directors by men and the listing of new companies that were previously private and had all-male boards. Fiona Hathorn, CEO of WB Directors, expressed concern over this development, emphasizing the danger of losing focus on the critical issue of gender diversity in the boardroom.

For more details, read the full article by Patrick Hosking on The Times. https://www.thetimes.com/business-money/companies/article/number-of-aim-listed-companies-with-all-male-boards-rises-by-73-percent-5brqgxvlp#:~:text=The%20number%20of%20companies%20listed,cent%20from%20108%20to%20187

Challenges for New College Graduates in the Job Market

Challenges for New College Graduates in the Job Market

A recent New York Times article by Peter Coy, Opinion Writer, highlights the difficulties many new college graduates face in securing employment, despite a low unemployment rate of 3.9 percent in April. Anecdotal evidence and a detailed report from Goldman Sachs economist Elsie Peng reveal that the job-finding rate for new entrants, particularly fresh college graduates, has declined. Key insights from this analysis and additional expert opinions include:

  1. COVID-19 Impact: Remote learning during the pandemic may have hindered graduates’ training, networking, and social capital accumulation.
  2. Job Market Balance: The labor market is stabilizing, allowing employers to be more selective.
  3. Increased Competition: Some graduates with student loan debt are re-entering the job market, intensifying competition.
  4. Employer Caution: Economic uncertainties, such as fluctuating interest rates and consumer demand, make employers cautious about hiring.

The article suggests that traditional job application methods, like submitting resumes through job portals, have a low success rate. Personal connections and targeted applications are recommended strategies. Additionally, college work experience and internships significantly enhance job prospects.

Efforts are being made to address these challenges, emphasizing the importance of employer responsibility in improving the college-to-job transition, especially for underrepresented groups like single mothers.

At Rock The Street, Wall Street (RTSWS), we recognize the importance of equipping young women with the skills and confidence needed to navigate these challenging job markets. Our programs focus on Financial & Investment literacy, mentoring, and early career support to bridge the gap between education and employment. By providing diverse high school girls with the tools they need to succeed in the financial industry, we help ensure that more graduates are prepared to secure meaningful employment and build a brighter economic future.

How Companies are Rebranding Diversity Initiatives Amid Changing Landscape

How Companies are Rebranding Diversity Initiatives Amid Changing Landscape

As American businesses navigate evolving social, legal, and political dynamics, many are rebranding their diversity and inclusion efforts. Companies like Starbucks, Eli Lilly, and Molson Coors are replacing explicit terms like “Diversity, Equity, and Inclusion (DEI)” with broader concepts such as “talent” and “inclusive culture.”

Key Changes:

  • Eli Lilly: Removed “DEI” from its annual proxy statement while emphasizing workforce diversity.
  • Starbucks: Shifted representation goals to “talent” metrics for executive bonuses, while maintaining diversity targets.
  • Molson Coors: Rebranded its “People & Planet” metrics to focus on fostering an “inclusive culture.”

Legal considerations, like the Supreme Court’s ruling on affirmative action, have led many companies to revise their diversity strategies. Despite the changes, a majority of surveyed executives remain committed to enhancing inclusion programs.

Consultant Perspectives:

  • Johnny C. Taylor Jr. (SHRM): Advocates prioritizing inclusion by rebranding DEI to “IED” (Inclusion, Equity, and Diversity).
  • Eric Ellis (Integrity Development): Notes that rebranding diversity programs has occurred periodically since the civil rights movement.
  • Rhonda Moret (Elevated Diversity): Highlights a shift towards “Leadership and Inclusion” while balancing terminology changes with core values.

While the terminology is evolving, the goal remains consistent: fostering diverse, inclusive workplaces that reflect company values and comply with the changing legal landscape.

Read the full article:
https://css.washingtonpost.com./business/2024/05/05/dei-affirmative-action-rebrand-evolution/

Insights from Deloitte’s “Women @ Work: A Global Outlook 2024”

Insights from Deloitte’s “Women @ Work: A Global Outlook 2024”

In its fourth iteration, Deloitte’s “Women @ Work: A Global Outlook” continues to explore the complex landscape of challenges and barriers that women encounter in the workplace. This year’s report, drawing on responses from 5,000 women across 10 countries, offers a stark reflection on the state of gender equality and workplace inclusivity.

Persistent Challenges and Mental Health Stigma

The 2024 report underscores a persistent theme: the significant mental and physical health challenges faced by women, which are exacerbated by high stress levels and extensive working hours. Despite some improvements in workplace flexibility and hybrid work models, many women still report feeling excluded and undervalued, which contributes to ongoing mental health concerns.

The Impact of Domestic Responsibilities

One of the more pronounced findings is the impact of domestic responsibilities on women’s careers. The report highlights that women continue to bear the brunt of household and caregiving duties, even when they are the primary earners. This unequal distribution of domestic labor not only affects their mental health but also limits their career advancement opportunities.

Health Challenges and Workplace Support

Health issues related to menstruation, menopause, and fertility were reported as significant concerns that affect women’s work attendance and performance. The stigma surrounding these issues often prevents women from seeking support or taking necessary time off, impacting their productivity and well-being.

Safety and Inclusivity in the Workplace

Nearly half of the respondents expressed concerns about their safety at work, citing experiences of harassment and microaggressions. This indicates a critical need for workplaces to enforce stronger policies that protect women and promote a culture of respect and safety.

Gender Equality and Organizational Change

Interestingly, the report identifies a small segment of workplaces known as “Gender Equality Leaders,” where women feel supported, safe, and valued. These organizations are characterized by their proactive approaches to fostering gender equality and supporting women’s career advancement.

Looking Forward

The findings from Deloitte’s report serve as a call to action for organizations worldwide to reevaluate their policies and practices concerning gender equality. Creating supportive, inclusive, and equitable workplaces where women can thrive is not just a moral imperative but also a business one, as diverse leadership has been shown to correlate with better overall performance.

Deloitte’s “Women @ Work: A Global Outlook 2024” is a crucial resource for understanding the barriers that women face in professional environments and offers valuable insights into how these challenges can be addressed. For a deeper dive into the report and to explore detailed findings, read the whole report: https://www.deloitte.com/global/en/issues/work/content/women-at-work-global-outlook.html