Diversity management is the bottom line at Price water house Coopers (PwC), a professional services company.99 And the company's commitment to diversity puts them near the top of the list for Top Companies for Diversity as determined by Diversity Inc. So what does a company do to be recognized as a leading company for diversity management? Well, it starts at the top. SPwC's chairman and senior partner Bob Moritz is a vocal advocate of diversity and inclusion and says that "it's also the key to sustainable global growth for an organization." Moritz's commitment to diversity stems from his personal experiences. As a young professional, he lived in Japan for three years, where he was a minority. He recalls, "If you're overseas or in a country where no one speaks your language—or the cab refuses to pick you up in the middle of the night because you're a foreigner— you get a different perspective." In addition, his work team included individuals from France, Australia, the United Kingdom, and Japan. He soon recognized that people from different cultures approach problems with differing perspectives and that his way wasn't necessarily the right way and was certainly not the only way. That's why now, as the company's top executive, he realizes that to help his company succeed in today's global economy, an inclusive culture that attracts and retains diverse talent is critical. PwC also has several diversity programs and initiatives in place. The company's first chief diversity officer (CDO) was appointed in 2003 and, like at many organizations, was first "housed" in the human resources department. Now, however, the CDO reports directly to Moritz, giving the position credibility and, more importantly, accountability. Another interesting thing about PwC's CDO position is that it is rotating—that is, partners are rotated in and out of the role every two years. Currently, that position belongs to Maria Castanón Moats, an audit partner. Another diversity commitment that PwC has made is to talent development. Professional services companies like PwC prosper or fail because of their human talent. PwC has made it a priority to "find, engage, and promote the best and brightest employees, especially those from underrepresented groups." To attract such outstanding diverse talent, the company offers employees an enviable array of benefits. Because work at professional services companies can be arduous and demanding, PwC has looked for ways to offer its employees work-life flexibility to deal with personal and professional challenges. Some of the benefits it offers includes back-up childcare assistance, paid paternity leave, nanny resources and referrals, on site religious accommodations, well-being rewards, and tax equalization for all domestic partners. Finally, a major key to PwC's diversity management is its mentoring program, which has been described as "world class." A mentor is a senior employee who sponsors and supports a less experienced employee, called a protégé. Although half of the company's mentoring pairings are cross-cultural, Moritz has asked each of PwC's 9,500 partners to "consciously diversify their pool of protégés." A portion of the partners' evaluations will be based on their advocacy and investment in these individuals. But PwC doesn't just expect its employees to know what to do in mentoring. A toolkit for successful advocacy was created that includes guidelines, suggested readings, and other internal resources. And the most important part of that toolkit? Videos showing real-life examples of partners and staff members sharing their personal experiences with mentoring. Discussion Questions 1 How might population trends affect a professional services organization like PwC? What might it have to do to adapt to these trends? 2. What challenges might PwC face in adapting to a more diverse applicant pool of college graduates? 3. Businesses often face the dilemma of retaining diverse employees once they're trained. What can PwC do to retain its diverse employees?

pur-new-sol

Related Questions