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Halcyon actively monitors change covering more than 150 key elements of life.

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What's Changing? - Diversity

Diversity

 

Please see below selected recent diversity-related change.

 

See also:

 

December 2022

 

September 2022

  • Fina, the international federation that administers competitions in water sports, approved a swimming cap designed for athletes with natural afro hair. Soul Cap is designed for swimmers with thick, curly hair and styles such as dreadlocks, weaves and braids. Soul Cap said Fina had previously told them the hats weren't suitable because they didn't follow "the natural form of the head", the BBC reports, and were banned from the 2020 Olympics. After outrage at the decision, the company was invited to reapply for a place on Fina’s approved list of competitive swimwear.

 

June 2022

 

May 2022

 

April 2022

  • The shift to remote work benefitted many knowledge workers, but especially the neurodiverse - those with conditions including autism, attention-deficit/hyperactivity disorder and dyslexia. Typical office environments, where social interactions are continuous and often unpredictable, can be overwhelming for people with brains that function differently from the neurotypical. Neurodiverse workers interviewed by The Wall Street Journal said they had thrived since going remote, finding it much easier to interact with colleagues through virtual-communication channels 

 

February 2022

  • LinkedIn warned that there is a “shocking lack of diversity” in the UK boardroom, with disabled women and LGBTQ people missing from top positions and no women of colour featured on the FTSE 100 chief executive list. Only eight of the 100 chief executives featured on the FTSE list are women, and of the 414 board positions held by women in 2021, 385 of those were non-executive roles. Campaign group the 30% Club said that the pipeline of women progressing to leadership positions “has got a bottleneck”, and the Fawcett Society called progress “painfully slow”.

 

December 2021

  • BCG conducted research on 40,000 consumers in 18 of the world’s biggest markets about their mindsets and the needs they seek to fulfil when making a purchase. After running regressions on 130 variables that determine consumer choice, BCG found a world of significant diversity. While they detected strong similarities among consumers in the US, Canada, Australia, and the UK, their analysis found that mindsets in every Asian market they studied were quite unique. European mindsets also aren’t as similar as they thought. In terms of specific attitudes, they found that Chinese consumers care deeply about how they are perceived by peers, but Russian and French consumers generally do not. And while Nigerians, Mexicans, and Indians were very keen to start businesses, Japanese consumers expressed little interest in entrepreneurship.

 

November 2021

 

September 2021

 

June 2021

  • Different factors shape popular attitudes towards LGBT communities within a given country. In states with heavy religious overtones, like Poland and Russia for instance, the general population is less likely to accept that gay people should be broadly accepted by society. Meanwhile, residents in nations where right-leaning politics dominate are also less likely to support the LGBT community's rights, according to a Pew study.

 

March 2021

  • Diversity fatigue is setting in as some governments roll back targets; for example, Japan removed its target of 30% female managers by 2020. A 30% target is the threshold to move beyond tokenism and achieve the benefit of diverse viewpoints, leading to greater innovation and better outcomes. Achieving a 30% target requires planning across all levels, but only 18% of companies have structured programmes, warned EY.

 

December 2020

  • The US Nasdaq exchange filed a proposal to require all companies listed on its US exchange to have at least two board members who are not straight, white men. If the Securities and Exchange Commission approved it, it should lead to at least another 570 women on corporate boards - that’s how many Nasdaq companies currently have no female representation at the director level - and at least as many new directors who identify as Black, Hispanic or Latinx, Asian, Native American, Alaska Native, Native Hawaiian or Pacific Islander, bi-racial, or LGBTQ.
  • Prospect reported that in 2017, the Parker Review, an independent government-backed report, laid down a simple challenge to Britain’s FTSE 100 companies: to appoint at least one director from an ethnic minority background by the end of 2021, with a slightly more distant deadline of 2024 for smaller FTSE 250 boards. Black, Asian and minority ethnic (BAME) board members made up just 8 per cent of the UK’s total, while the UK BAME population is 14 per cent. If you only consider British BAME citizens, thereby excluding investors and high-flyers jetted in from elsewhere, the number plummeted to 2 per cent. Minority directors are clustered in a few firms, often with specific Asian and African connections: just seven companies in the UK contained 40 per cent of the nation’s BAME directors. Progress was tracked in an updated 2020 Parker Review and it appeared wanting. Out of the 256 companies with meaningful data, 150 had yet to appoint a BAME board member.

 

November 2020

  • Neurodiversity is "emerging as the 'final frontier' in the diversity debate", noted the Financial Times - and employers are taking note. In the UK, for example, only 16% of adults on the autism spectrum had full-time employment in 2016; they and other neurodiverse people can face discrimination and challenges at school or work. But increasingly, organisations - from SAP to Universal Music to the Israeli Army - have begun to focus on recruiting and retaining neurodiverse talent. “Having people who think differently and see the world differently is really going to support innovation," said James Cusack, CEO of charity Autistica.

 

October 2020

 

September 2020

  • As the coronavirus pandemic changed work and social justice movements such as Black Lives Matter gained global attention, diversity and inclusion roles were spotlighted. Firms that see D&I as a “nice to have” were being shown up, says author Pragya Agarwal, while the pandemic highlighted issues such as economic inequalities that show the need for greater inclusion. Research also showed financial advantages in diversity, with more diverse teams generating greater innovations and profits. LinkedIn data shows that D&I roles have grown rapidly between 2015-2020, rising 75% in France, 81% in Germany and 58% in the UK.

 

July 2020

  • Most corporate leaders now understand that in today’s business environment, companies must achieve diversity if they want to acquire and retain talent, build employee engagement, and improve business performance. (See How Diverse Leadership Teams Boost Innovation from BCG.) But many leaders still have blind spots regarding diversity. They underestimate the obstacles confronting an employee of a diverse group, perceiving a workplace with far less bias than actually exists. They launch programs that they think will yield improvements, but their decisions are based on gut instinct rather than proven results. Unless they acknowledge their blind spots, these leaders won’t make meaningful progress on diversity, warned BCG.

 

June 2020

 

March 2020

 

December 2019

 

October 2019

 

July 2019

  • Over the past decade, the acceptance of homosexuality has reportedly improved dramatically in the eyes of the Chinese public. And, though the government has increased restriction on LGBTQ+ content, the gay community is resisting and flourishing in cities like Chengdu, fuelling China's $300 billion rainbow economy

 

January 2019

 

December 2018

 

November 2018

  • Companies report that they are highly committed to gender diversity. But that commitment has not translated into meaningful progress. The proportion of women at every level in corporate life has hardly changed in some of the most developed countries. Progress isn’t just slow. It’s stalled, found McKinsey in Women in the Workplace 2018, a study conducted in partnership with LeanIn.Org. 
  • How to create more diverse workplaces and how to use AI ethically are among the more challenging dilemmas facing business and government, according to The New York Times. While the issues may appear to have little in common besides their complexity, they do overlap. Recently, for example, according to news reports Amazon abandoned a hiring tool that used artificial intelligence because it favoured men.
  • Papua New Guinea is the most ethnically diverse country in the world with more than 800 languages spoken across 600 sparsely populated islands.  

 

October 2018

 

September 2018

  • The share of foreign-born people living in the US has reached its highest point since 1910. The foreign-born population stood at 13.7 percent in 2017. That’s 44.5 million people.

 

July-August 2018

 

May 2018

  • The gender pay gap starts with babysitting. Girls who are emotionally attached to the children they care for receive the lowest raises.

 

Pre-2018

  • Does the gender of executives make a difference to business performance, asked the Financial Times? The evidence is mounting that it does, claimed the FT. In some developing economies, women are joining the top ranks of business management at the same pace as those in western countries. 
  • PwC's research report Modern mobility: Moving women with purpose is based on the findings of research among almost 4,000 working professionals based in over 40 countries (2,285 were women and 1,652 were men), and 134 global mobility executives representing international organisations headquartered in 23 different countries and with a combined workforce of some 4 million employees.
  • In the US, the Executives’ Club of Chicago (EC) announced a relationship with Deloitte in 2016, which works to expand diversity and inclusion awareness, best practices and thought leadership for Chicago’s business community through its newly formed Diversity Leadership Council and programme series. Together with Deloitte, Chair of The Club’s newly formed Diversity Leadership Council, The EC plans to shape conversations, share best practices and stay committed to making diversity and inclusion a priority for Chicago’s business leadership.

 

Pre- 2016

 

  • This year it is Finland that comes out as the best place to be a working woman, overtaking Sweden and knocking Norway off the top spot. It scores highest of the 28 countries in The Economist's index for the share of women in higher education (where their lead over males has grown), female labour-force participation and women taking the GMAT (business-school entrance exam), now over 50%. Finland has also increased its paid maternity leave by more than two weeks. Norway still has more women on company boards than other countries, thanks to a 40% mandatory quota that came into effect in 2008, but women's share of senior management jobs is slightly down on last year. While the share of parliamentary seats occupied by women in Norway and Finland has not changed, it fell slightly in Sweden, where the gender pay gap has also widened, and is now closer to the OECD average.

 

  • Deloitte LLP announced that Janet Foutty had been named chairman and chief executive officer of Deloitte Consulting LLP, effective January 1, 2016. Foutty succeeds Jim Moffatt, who has recently been named global consulting business leader, Deloitte Touche Tohmatsu Limited. Foutty, a principal with Deloitte Consulting LLP, was Deloitte’s federal practice leader and led more than 7,300 practitioners to help federal agencies transform into more efficient, effective organisations. She expanded the practice over the past three years. She previously led nearly 17,000 professionals in Deloitte Consulting LLP’s technology practice, where she achieved double-digit growth and launched several innovative businesses that address clients’ needs in evolving areas. During her 25-year tenure with Deloitte, Foutty has served clients across several industries and has raised visibility of thought leadership in key federal areas, including veterans’ issues, millennials in public service, and science, technology, engineering, and mathematics (STEM) education.

 

  • Accenture named a record number of 723 people to managing director and senior managing director. “Each of these individuals brings the talent, leadership and experience that we need to serve our clients, develop our more than 358,000 people and run Accenture as a world-class business," said Pierre Nanterme, Accenture’s chairman and CEO. "These promotions reflect our commitment to career growth and opportunities for our people. We salute these executives and their contributions to Accenture – and to our clients." Women account for more than 28% of the new managing directors and senior managing directors – up from 21% in 2014. 

 

 

 

November 2015

 

 

 

 

 

 

  • Deloitte and KPMG emerged as the most female-friendly of Australia's largest accounting partnerships, based on the percentage of women at the senior level, according to The Australian Financial Review Accounting Partnership survey. At the partner level, Deloitte topped the list with female partners making up 23%, or 144, of the total of 632 partners. KPMG was not far behind with female partners making up one in five of its 402 partners, while 18% of PwC's equity partners are women. EY had a partnership that was 17% female.

 

 

 

 

  • Halving the gender gap in global employment could lead to an additional gain of 6% in the GDP by 2030, according to Shaping Tomorrow, whose other key findings included the following: eliminating employment gender gaps could boost GDP by 5% in the U.S. women are expected to control nearly 75% of discretionary spending worldwide by 2028; and while there has been a global trend towards widening participation and improving the opportunities and learning outcomes for students from diverse backgrounds, trend projections for 145 countries with data show that only 62 countries will have achieved gender parity in enrolment for both primary and secondary education by the end of this year.

 

 

  • new study by the McKinsey Global Institute estimates that the cost of gender inequality is even higher than previously thought – with far-reaching consequences. The McKinsey study used 15 indicators – including common measurements of economic equality, like wages and labour-force participation rates, as well as metrics for social, political, and legal equality – to assign “gender parity scores” to 95 countries, accounting for 97% of global GDP and 93% of the world’s women. Countries also received scores for individual indicators. Unsurprisingly, high scores on social indicators correspond with high scores on economic indicators. Moreover, higher gender-parity scores strongly correlate with higher levels of development, as measured by GDP per capita and the degree of urbanisation. One overarching conclusion of the McKinsey study is that, despite progress in many parts of the world, gender inequality remains significant and multi-dimensional.

 

 

  • PwC developed its latest Diversity & Inclusion Point of View - 'Making diversity a reality’ - now available on Spark. Diversity and inclusiveness are now competitive imperatives within an evolving financial services (FS) marketplace; investors want it, customers and staff expect it. Many FS organisations are moving back into hiring mode. But the type of people they need are changing as they grapple with the impact of new technology, new regulation, changing customer expectations and shifts in global economic power. Nearly 80% of the FS industry leaders who took part in our latest global CEO survey are looking for a broader range of skills when recruiting than in the past. Encouraging greater diversity and inclusion is a critical part of meeting these new talent demands.

 

 

 

October 2015

 

 

 

 

 

 

 

 

  • The new FT Women in Business topic page featured news, comment, and analysis on women and the workplace. It collated all relevant articles and multimedia from across the FT to investigate today's challenge and opportunities, such as the economic consequences of gender equality and why there are still so few hedge funds run by women.

 

 

 

 

September 2015

 

 

 

 

 

 

 

August 2015

 

 

  • The Washington Post commented on Accenture’s evolving diversity initiatives, “The global consulting firm, whose consultants often travel weekly when assigned to a remote client's site, announced new benefits for employees who are the primary caregiver of a new child. For the first year after they return from leave, consultants in North America will be assigned to work on client projects in their local areas, rather than being asked to travel frequently." The firm also introduced a programme, similar to one recently introduced by IBM, that lets employees ship pumped breast milk home at no cost when travelling on business, as well as expanding the number of hours of back-up dependent care provided to employees.

 

 

  • Improving diversity and promoting equal opportunity are a priority for KPMG UK chairman Simon Collins. "We're not promoting women. I’ve always thought of myself having a clean heart and dirty hands on this issue because I’ve felt strongly about it for a long time and yet not made anything like enough of a difference.”  In last year’s intake, the firm doubled the number of female partner appointments to a third of the UK promotions. Creating genuine equality of opportunity is a personal ambition, he says. He has two more years as UK chairman in his current stint and potentially a second term of three years.

 

 

 

June 2015

 

 

 

 

 

 

 

 

 

May 2015

 

 

 

 

 

 

  • PwC announced its commitment to the UN Women’s HeForShe campaign. HeForShe is a campaign aimed at mobilising 1 billion men and boys in support of gender equality. Gender equality is one of the most persistent human right violations of our time, according to Dennis Nally. The statistics speak for themselves: even while women make up 60% of college graduates, only 3% of leaders around the world are women. On average, working women earn 10-30% less than men for the same tasks.

 

 

April 2015

 

 

 

 

 

 

  • For first time, women will lead two of the Big Four in the US, after KPMG announced that Lynne Doughtie will become the firm’s new chief executive and chairman, closely following the election of Cathy Engelbert as Deloitte’s U.S. CEO just a few months ago. Both women have seen their firms transform over the years from workplaces dominated by men to ones that consistently rank high among the country’s best employers for women. Doughtie, who is in charge of KPMG’s consulting practice in the United States, will serve a five-year term when she takes over as CEO and chairman on July 1.

 

 

  • PwC UK won the Transparency Award at the Opportunity Now Excellence in Practice Awards 2015. Opportunity Now is the gender equality initiative from Business in the Community. And we have also been named in The Times Top 50 Employers for Women 2015, which lists the organisations leading on workplace gender equality. We are one of a handful of employers to have appeared on this listing since its inception.

 

  • Nora Wu, Vice Chairwoman and Global Human Capital Leader at PwC, explored why diversity is critical for growth and how business leaders can focus on building more diverse and inclusive workforces in this new CEO Insights post. Find out more in : Finding different ways of thinking and working.

 

 

March 2015

 

 

 

 

 

  • Women today are more career confident and ambitious than any other generation, a new PwC study for International Women's Day shows; 62% said that career progression was the most attractive quality an employer could have. Gaenor Bagley, head of diversity at PwC, said: “Our research shows that we are seeing a new era of female talent with ambitious and highly educated women entering the workforce in larger numbers than any previous generation."

 

 

December 2014

 

 

 

 

November 2014

 

 

 

October 2014

 

 

 

July 2014

 

 

 

 

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