New Goldman Sachs dress code points to a sartorial double standard in the workplace

Jason Cheng

Goldman Sachs, one of the last bastions of crisp-collared, bespoke-suited workplace attire, has loosened up. It announced an official “firm-wide flexible dress code” earlier this month. And at last — after the long, slow undoing of corporate formality — business casual seems to have triumphed in the American workplace. But for women and minorities who have been playing corporate catch-up for decades, a more casual dress code presents its own complications. Women at work who feel pressure to prove they deserve to be in the room might be wary of ditching their blazers and pumps.

Gender-balance Teams Linked to Better Business Performance: A Sodexo Study

Jason Cheng

Women remain underrepresented in leadership roles, in spite of research indicating that gender- balanced leadership has a positive impact on the bottom line.
However, gender balance impacts performance only when the optimal balance is reached.
The results of the Sodexo study confirm that this balance corresponds to a male-female ratio between 40% and 60%, reinforcing that diversity is key to enhanced performance.
Entities with gender-balanced management performed better on all of the performance indicators measured, including employee engagement, brand awareness, client retention and three indicators of financial performance.
Teams at Sodexo within the optimum gender- balanced zone have experienced on average an increase of four points in the global engagement rate versus only one point for other teams between 2010 and 2012.

Women at Work: Women’s Access to Power and the Gender Earnings Gap

Jason Cheng

Using a unique sample of 5,022 workers in 94 large German workplaces, the authors explore whether and how women’s access to higher level positions, firms’ human resources practices, and workers’ qualification levels are associated with gender differences in earnings. First, they find that having more women in management reduces the gender earnings gap for jobs with low qualifications, but not those with high qualifications. Second, they find that while men’s compensation is positively affected by having a male supervisor, women with a female supervisor do not receive such an advantage. Finally, they find that human resources practices and job-level qualifications moderate the association between gendered power and gender earnings inequalities. Integrating women into managerial and supervisory roles does not automatically reduce gender inequalities; its impacts are contingent on organizational context.

Accenture: Equality Equals Innovation Research Report (2019)

Jason Cheng

Accenture has found that a culture of equality—the same kind of workplace environment that helps everyone advance to higher positions—is a powerful multiplier of innovation and growth. Global gross domestic product would increase by up to US$8 trillion by 2028 if innovation mindset in all countries were raised by 10 percent. Diversity positively influences an innovation mindset, and equality is the multiplier. A culture of equality is anchored by three pillars: an Empowering Environment (one that trusts employees, respects individuals and offers freedom to be creative and to train and work flexibly), Bold Leadership (a diverse leadership team that sets, shares and measures equality targets openly), and Comprehensive Action (policies and practices that are family-friendly, support all genders and are bias- free in attracting and retaining people).

California Becomes 1st State To Require Women On Corporate Boards

Hei-ock Kim

NPR October 1, 2018 By Laurel Wamsley California will be the first state to require publicly traded companies to have at least one woman on their board of directors. The law, signed by Gov. Jerry Brown on Sunday, requires public companies whose principal executive offices are located in California to comply by the end of 2019. The minimum is two …

AS US ‘EQUAL PAY DAY’ APPROACHES, KORN FERRY ISSUES GENDER PAY INDEX, ANALYZING REASONS BEHIND INEQUALITIES IN MALE AND FEMALE PAY

Hei-ock Kim

March 29, 2018 By Korn Ferry – Women in US Make On-Average 17.6 Percent Less Than Men – However, Gap Virtually Disappears When Analyzing Same Level, Same Company, Same Function – – Gender Pay Gap Still Very Real Due to Fewer Women in Higher-Level Jobs and Higher-Paying Industries – An in-depth analysis by Korn Ferry (NYSE: KFY), finds the much-publicized …

Leading by example to close the gender pay gap

Hei-ock Kim

Unequal pay between men and women is a persistent problem in the United States. Salesforce, a tech company with 30,000 employees, is doing its part to change that 60 Minutes April 15, 2018 By Lesley Stahl The “Me Too” movement has shaken the workplace to its core. It has such power that it has come to mean more than sexual …

Gender pay gap could be ‘baked into the next generation’ of workers

Hei-ock Kim

Mid-ulster Mail February 2, 2017 By Gemma Murray Despite the Equal Pay Act being introduced 47 years ago, the gender pay gap remains one of the biggest issues facing British workers. The World Economic Forum recently estimated it’ll even be 118 years before women around the world can expect equal pay. In fact it’s so bad in some British industries …

Women Are Less Likely to Apply for Executive Roles If They’ve Been Rejected Before

Hei-ock Kim

Harvard Business Review February 07, 2017 By Raina Brands and Isabel Fernandez-Mateo Although women make up 40% of the global workforce, they hold only 24% of senior management roles around the world — a figure that has not changed significantly over the past decade. Of chief executive officers of S&P 500 firms, only about 5% are women. Why aren’t more …

3 strategies to increase investment in women entrepreneurs

Hei-ock Kim

Medium April 11, 2017 Renata George Have you noticed that, despite the almost daily reminders that women entrepreneurs are underfunded through articles and blog posts, venture investors of both genders seem to distance themselves from these conversations? This is happening primarily because the initiators of such debates can discuss the gender issue at great length but rarely turn the conversation …