When Women Thrive 2020 · 2020-05-29 · of absence, part-time status, reporting relationships, etc. Publicly document your organization’s commitments to gender equality and broader

Copyright 2020 Mercer LLC. All rights reserved.

2020Lea LønstedOla JönssonAleksandra Moksnes

When Women Thrive 2020

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Mercer’s When Women Thrive panel of regional experts

Ola JönssonSenior Talent Strategy

Consultant, Sweden

[email protected]

Lea LønstedHead of Diversity and Inclusion

Consulting,Denmark

[email protected]

Aleksandra MoksnesCompensation & Benefits

Consultant, Norway

[email protected]

mailto:[email protected]



Agenda

1. COVID-19 Survey Highlights

2. When Women Thrive Scandinavia Research Findings

3. Q&A and Discussion

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Mercer today

2019 forecast revenue

$5Btotal assets under delegated management*

$304.5Bassets under advisement**

$15T

countries delivered in

130

colleagues

25,000+

fortune 500

91%

year history

81+

clients

28,500of the FTSE 100 served

79%

human resource consulting firm

#1

* as of November, 2019** as of June, 2019

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CAREER WEALTHHEALTH

• Strategic plan design, management, administration and investments

• Integrated DB risk management

• Financial wellness

• Wealth management

• Flexible delegated solutions and advice

• Global and local actuarial consulting

• Endowments and foundations

• Environment, social, and governance (ESG) investing

• Benefit exchanges

• Benefit strategy, design, and financing

• Individual and voluntary benefits

• Benefits plan management and brokerage

• Specialty health and benefits

• Benefits administration

• Talent strategy

• D&I Consulting

• Talent mobility

• HR transformation

• Executive rewards

• Workforce rewards

• Communication

• Workday services

Human-centric solutions for a digital age

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Job security

Financial safety

Caregiving burden

Copyright 2020 Mercer LLC. All rights reserved. 6

COVID-19 presents special risks to womenand people of colour in terms of workforce security

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COVID-19 also presents opportunities to rethink/reinvent

Workforce composition

Pay equity

Flexible work


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D&I Under COVID-19Scandinavia Pulse Survey

Yes No

63%

Yes No

58%

Demographic differences

⁻ Greater expectations placed on women to manage the household and home-schooling

⁻ Impact increases for employees with young children

⁻ Anxiety and risk of illness greater for higher age groups. Challenge with aging population

⁻ Regional differences dependent on home situation

Yes No

37%

Take D&I into account with organizational changes such as COVID-19

Implemented updated provisions to support mental health of employees after COVID-19

Have a D&I Strategy with Targets

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Organizations have a unique opportunity to improve Diversity & Inclusion through their COVID-19 response efforts

Develop D&I dashboards

Leverage Internal Labor Market maps

Conduct a pay equity analysis

Provide telehealth and digital solutions

Respond Return Reinvent

Determine appropriate cost-management action(s) or refine the prior action(s) taken

Prepare for employees returning to the workplace

Plan for a different future and consider opportunities for transformation beyond return-to-work

• Leverage pulse surveys and virtual focus groups

• Develop inclusive leadership competencies

• Perform network analyses

• Formalize flexible work options

Understand COVID-19 implications on mobility

Develop new avenues for mentorship

Re-envision BRG strategy

Pivot talent acquisition strategy

Re-design your D&I function and strategy

Phase

Objective

Actions

Iterative Process

Iterative Process

when women thrive2020


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1,157

The most comprehensive workforce gender-equality research in the world

organizations(31 in Scandinavia)

countries in Asia, Europe, Latin America, Middle East and Africa, and North America

54employees globally(213,000 in Scandinavia)

Representing

11

7.0M

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Pressure cooker

Environmental,Social,

CorporateGovernance

(ESG)

Regulation and Quotas

Pay Equity Mandates

Increasing Voluntary Disclosure

Shareholder Activism

Millennial and Gen Z Demands


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Gender Age DisabilityEthnicity LGBTQ+Socio-

economic status

Moving past the math


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Solving for inclusion first

payexperienceopportunity

Solve for equality of:

Hardwire your culture with


While there have been improvements in female talent flows and representation, projections show that gender equity is improbable in the next 10 years.

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There is a long road to parity for European organizations…

Career Level Average Representation and Total Promotions Total Exits

Females: 3% Males: 2%

Total Hires

ExecutiveFemales: 8%

Males: 5%

Females: 8%

Males: 9%

5

Females: 7%

Males: 9%

Females: 11%

Males: 10%

Overall representation: 42% Female | 58% Male

Senior Manager

Manager

Professional

Support Staff

Males: 9%

Females: 7%

Males: 7%

Females: 9%

Females: 7%

Males: 5%

Females: 8%

Males: 7%

5


Males: 10%

Females: 14%

Males: 11%

5

5


Females: 4%

Females: 12%

Males: 4%

27%

34%

39%

45%

45%

73%

66%

61%

55%

55%

Female Male

Note: ILM map reflects average representation and talent flows across participating European organizationsThe rates shaded in pink highlight where female hire, promotion or exit rates are unfavorable as compared to male rates.

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Internal Labour Market map - Scandinavian client example

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Representation changes - Scandinavian client example

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Get real. Get SMART.


Develop an ILM map using career levels to examine your representation, hiring, promotions and exits by gender and race/ethnicity.

Leverage external labour market data and benchmarking to add context.

Apply advanced analytics to identify drivers or root causes of and barriers to hiring, promotions and turnover; for example, reveal criteria for promotions from professional to manager level.

Use models to project the composition of your future workforce.

Determine what actions need to be taken to achieve gender balance within your targeted timeframe.

(for organizations just getting started)

(for organizations with a good foundation)

(for organizations that have made significant progress)

organizations are committed to D&I, but need a strategy and accountability to drive progress.

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94% 55%of Scandinavian organizations are focused on improving D&I

of Scandinavian organizations have a multiyear D&I strategy


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Taking an evidenced-based approach to solving D&I challenges

Step 1 Step 2 Step 3 Step 4

Diagnose Align Engage Take action

Root your strategy in proof

On the business imperative

Create passionateleaders and drive personal commitments

Ensure you have the right practices, programs and processes in place


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Collect data: Track and regularly monitor outcomes, such as representation, hires, promotions and exits by gender and career levels.

Identify drivers of those outcomes, such as ascension into key roles, impact of leaves of absence, part-time status, reporting relationships, etc.

Publicly document your organization’s commitments to gender equality and broader D&I.

Regularly monitor key D&I metrics to measure progress, identify gaps and develop mitigating solutions.

Be transparent about progress on key D&I metrics, both internally and externally.




Senior executives and the Board members are engaged in D&I efforts, but manager involvement is lacking and critical for creating an inclusive culture.

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Take it from the top: getting brighter 57%

board engagement (up 5 percentage points from 2016)

74%senior executive engagement

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65%board engagement

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Managers and men can make a difference

of Scandinavian organizations

report are actively involved in D&I

of Scandinavian organizations report

that are actively involved in D&I

of Scandinavian organizations report

that are actively involved in D&I


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Educate middle and frontline managers on why D&I is critical for organizational success, share D&I data, discuss opportunities for improvement and train them on how to support employees who take leaves, work flexibly, etc.

Senior leaders model inclusive behaviours, learn more about their own biases and privileges, and lead D&I initiatives.

Equip managers to support D&I by attending training, sharing learnings, modelling inclusive behaviour, mentoring or sponsoring an underrepresented employee, or participating in BRGs.

Senior leaders take personal ownership of D&I and integrate it into their business strategy; new leadership competencies are defined and modelled.

Partner with managers in developing solutions to D&I challenges.

Integrate cultural competencies and inclusive behaviours into job descriptions and performance measures.

Senior leaders are held accountable for progress toward meaningful goals to improve workforce D&I.




Organizations are adopting more disciplined methods of analysing pay equity, but remediation is lacking.

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87%of Scandinavian organizations report pay equity is included as part of their compensation strategy

Methodology70% conduct pay equity analysis using a robust statistical approach (the gold standard)

RemediationOnly 56% of Scandinavian organizations have a formalized process for remediating pay inequities

Oversight

HR and the C-suite are actively engaged in pay equity efforts, but only

44% of Scandinavian organizations engage the board in fair pay discussions


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Analyse pay equity annually using a rigorous multivariate regression analysis.

Adopt an end-to-end pay-equity strategy that includes analyses, a formal process and budget for remediating any inequities, and training for managers on compensation philosophy and how to handle pay conversations confidently.

Be transparent about your pay practices and the results of your pay-equity analyses, both internally and externally, with appropriate legal guidance.

organizations say women have equal opportunity for advancement; the data says otherwise.

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Getting ahead


61%of Scandinavian organizations report that women have equal access to roles that lead to advancement into leadership positions

26%

13%

47%

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84%of Scandinavian organizations say they offer a variety of flexible work options

32%of Scandinavian organizations value remote working as much as in-person working

More flexibility, please

29%of leadership actively promote the uptake of flexible work options for all employees


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Value vs. face time

81%of Scandinavian organizations say they value people’s contribution according to results, not number of hours worked

45%of Scandinavian organizations say part-time employees have the same opportunities to advance as full-time employees


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Ensure women and underrepresented employee groups are appropriately represented in formal development programmes; for example, leadership development, high potential, mentoring programmes.

Use data to identify what it takes to advance in your organization; for example, the roles, jobs and parts of the business, the people to work with or for.

Proactively manage the careers of high-potential, high-performing women and underrepresented employee groups to ensure they’re positioned to succeed.

Little has been done to address the broader, holistic needs of women, including their health, financial wellness and caregiving needs.

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Care beyond careerHow Scandinavian organizations are supporting women in health, financial wellness and caregiving

gather information from employees regarding their needs and obligations related to caregiving (e.g., childcare, elder care)

say their culture is equally supportive of men using family leave, time off, and flexible working options as women


“Women are expected to and taking on far the largest part of housework, homeschooling children etc.” (Mercer Covid-19 D&I survey results)

Lower pension for women than that of menTrack financial wellness by gender

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Provide differentiated communication and training on available benefits and recommended actions for unique employee segments.

Offer innovative point solutions geared toward improving women’s health and financial wellness Adopt plan designs that support the unique needs of different cohorts (that is, inclusive benefits).

Regularly measure the use and outcomes of health and financial wellness programmes by employee segments to track progress

Adjust programmes as needed to match the demographics and health and financial status of the population.

Technology has the potential to be a disruptor to the biases that hide in our processes and behaviours, but utilization is low.

40

Technology: the missing link

of Scandinavian organizations are using Tech to address D&I challenges

Technology can drive systematic and scalable change to transform organizations.

42%only


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Provide differentiated communication and training on available benefits and recommended actions for unique employee segments.

Offer innovative point solutions geared toward improving women’s health and financial wellness Adopt plan designs that support the unique needs of different cohorts (that is, inclusive benefits).

Regularly measure the use and outcomes of health and financial wellness programmes by employee segments to track progress

Adjust programmes as needed to match the demographics and health and financial status of the population.

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More to come: all 1,157 survey participants are eligible to receive a complimentary Custom Benchmark Report


Download our global report


https://www.mercer.com/our-thinking/next-generation-global-research-when-women-thrive-2020.html



Participate in our COVID-19 D&I Pulse Survey


https://imercer.az1.qualtrics.com/jfe/form/SV_6fhpTSpQFfQuPml



Stay informed on coronavirus through our resources


https://www.mercer.com/our-thinking/managing-novel-coronavirus.html



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Contact the experts directly with any questions:

Ola JönssonSenior Talent Strategy

Consultant, Sweden

[email protected]

Lea LønstedHead of Diversity and Inclusion

Consulting,Denmark

[email protected]

Aleksandra MoksnesCompensation & Benefits

Consultant, Norway

[email protected]




Documents

When Women Thrive 2020 · 2020-05-29 · of absence, part-time status, reporting relationships, etc. Publicly document your organization’s commitments to gender equality and broader