Our thoughts, views, and experiences
A Roadmap to Success
In August 2017, a software engineer at Google distributed a memo called, “Google’s ideological Echo Chamber.” In it, he criticized Google’s approach to diversity and inclusion, saying that “discriminating just to increase representation” was unfair. He went on to say that biological differences between men and women in part explain why there is not a 50-50 balance in tech and leadership.
The Competitive Advantage of a Diverse and Inclusive Culture for Modern Business - hosted by CGLCC and RBC
To successfully disrupt and remain competitive, enterprises need to tap into the incredible benefits that come with a cross-enterprise holistic Diversity & Inclusion (D&I) strategy. The business case for diversity and inclusion is robust, quantifiable and directly connected to the bottom line. Today, prioritizing diversity and inclusion is essential for organizations to remain innovative, competitive and socially responsible.
Companies undertaking a “transformation” are ubiquitous today. But when you look deeply into whether these organizations are truly redefining what they are and what they do, stories of successful change efforts are exceptionally rare. According to Gartner Group, “The failure rate is often as high as 65 to 75%.” The primary cause of failure they say is “failure to anticipate and effectively manage cultural change.”
Managing Partner of Prompta Consulting Group, Tim Morton, speaks with Kenneth Cheung, VP Growth Strategy at K2 Digital about why truly successful companies are those that have diversity in their DNA - not those that perceive diversity as an optional bonus.
Diversity is critical to growth, prosperity, and creates a competitive advantage for companies who leverage the right strategy for workforce diversity. Why? Because among other things, it creates a culture in which people bring, as Tim puts it, their “whole selves.” They are encouraged and invested to contribute to ideation, innovation, perspectives, and views. This, in turn, gives companies a competitive advantage that breeds success.
In this K2 Disrupts, Tim shares his perspective on the challenges and opportunities of implementing workforce diversity. He also provides some practical guidance to help develop a diverse workforce and culture within your company.
Learn how change can be your biggest competitive advantage
One of my best candidate interviews was with a senior marketer applying for a global innovation role. We discussed how the industry was changing and the changes we were making to capitalize on new opportunities. The candidate was engaged and excited, both by our challenges and his ideas on how he could manage them. He became our lead candidate.
Some leaders and recruiters see large-scale change as a source of candidate concern. They fear that candidates will be repelled by the uncertainty, instability and risk that come with transformation. I have found the opposite; an aggressive change agenda is a positive attribute that implies an environment within which candidates could thrive and perform.
Digital transformation is a hot topic in the media. Many news sites and consulting firms have published their takes on the opportunities and threats associated with it. A Google search will direct you to numerous articles with instructive titles like “5 Winning Ways,” “Six Stages,” “Nine Elements,” and “Top 10 Trends” of digital change. There is even a link to a specialized Executive MBA in Digital Transformation.
I have noticed a shift in how the benefits of a change initiative are being discussed. The conversation is moving from 'what' they are to 'how' they will be achieved.
A business case demonstrates how the anticipated benefits of a change justify the investment required to implement it. Benefits can be either gains (increased sales) or the avoidance of losses (retention of talent). These are compared to investment costs include time, money and people resources (capabilities).
Do you often feel as though your transformational initiatives are in a state of chaos? Do you feel blind as to what’s really happening with your organizations transformational programs? Are your costs more than anticipated? Does it seem like your strategic consulting partners, employees, and program teams aren’t on the same page?
Most people jump into planning for change without stepping back and assessing the environment in which the change will take place. For example, if your initiative is launching at the same time as three other changes, the odds are that the people you are changing will not have the capacity (time, skill and resources) to implement it as completely as you would like.
The evidence is conclusive: excellent change management increases business outcomes of change initiatives. Why is this so difficult to communicate to business leaders?