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Why Companies Shouldn't Overlook Older Workers
In today's dynamic and evolving workforce, the valuable contributions of older workers are often overshadowed by a focus on youth and innovation. However, this overlooks the wealth of experience, expertise, and dedication that older employees bring to the table. In this blog post, we'll delve into the benefits of hiring older employees and underscore the importance of acknowledging and embracing their significant role in driving success within organizations.Experience and ExpertiseOne of the most significant benefits of hiring older employees is their extensive experience and expertise. After years spent honing their skills and mastering their craft, older workers bring a depth of knowledge and perspective that is invaluable to any organization. Whether it's navigating complex challenges, mentoring younger colleagues, or providing strategic insights, older employees offer a wealth of wisdom that can drive innovation and success.Reliability and Work EthicOlder workers are known for their reliability and strong work ethic. Having weathered the ups and downs of their careers, they understand the importance of professionalism, commitment, and accountability. Unlike their younger counterparts who may be more prone to job hopping, older employees are often seeking stability and are willing to go the extra mile to deliver results. Statistics from the Bureau of Labor underscore this, showing that older workers tend to remain in their positions for longer durations than their counterparts in other age brackets . Their dedication and reliability make them valuable assets to any team.Adaptability and FlexibilityContrary to stereotypes, older workers are highly adaptable and flexible in the workplace. Many have embraced technology and continue to update their skills to stay relevant in today's digital age. Their ability to adapt to changing circumstances, learn new technologies, and embrace new ways of working makes them well-equipped to thrive in dynamic and evolving work environments. Companies that leverage the adaptability of older workers can gain a competitive edge in today's rapidly changing business landscape.Diversity and Inclusion Embracing older workers in the workforce contributes to greater diversity and inclusion within organizations. By valuing employees of all ages, backgrounds, and experiences, companies foster a culture of respect and appreciation for individual differences. Embracing diversity not only enhances creativity and innovation but also reflects positively on the company's brand and reputation as an inclusive employer.The benefits of hiring older employees and recognizing the importance of older workers cannot be overstated. Their wealth of experience, reliability, adaptability, and contribution to diversity make them invaluable assets to any organization. It's time for companies to recognize the immense value that older workers bring and ensure they are not overlooked or underestimated in the workforce.
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Is Pay Transparency the Key to Closing the Gender Pay Gap?
In the ongoing pursuit of gender equality in the workplace, the persistent issue of pay disparity remains a focal point of concern. Despite strides made over decades, the discrepancy in earnings between women and men persists across various industries and job roles. A report from the United Nations in 2023 underscored this reality, revealing that women, irrespective of geographic location, continue to earn substantially less than their male counterparts. Globally, the gender pay gap stands at an alarming 20 percent. In response to this glaring inequity, one solution gaining momentum is the implementation of pay transparency. But does it hold the key to narrowing the gender pay gap? Let's delve deeper into this pressing issue.The Gender Pay GapBefore delving into the role of pay transparency, it's crucial to understand the gender pay gap itself. This disparity refers to the difference in average earnings between men and women, often attributed to various factors such as occupational segregation, unconscious bias, and caregiving responsibilities. Despite equal pay legislation in many countries, the gap persists, highlighting the need for effective interventions.Defining Pay TransparencyPay transparency encompasses the extent to which an employer openly shares pay-related information, spanning three dimensions: outcome transparency (actual pay figures, such as levels or ranges), process transparency (criteria for determining pay), and communication transparency (open dissemination of pay-related information to employees and job candidates). Alongside pay transparency lies the principle of pay equity, often described as "equal pay for equal work." It involves compensating individuals equally for comparable work, skills, and contributions, while considering non-discriminatory factors like geographic location. Pay equity initiatives entail thorough analyses of workforce and compensation data to identify and rectify gaps, with a focus on fostering organizational trust, transparency, and accountability. As noted by Catalyst HR in their blog post, "Take Note: Employees Want Pay Transparency. Smart Companies Are Listening," successful implementation of pay transparency initiatives requires attentive consideration of employee preferences and expectations.The Benefits of Pay TransparencyProponents of pay transparency emphasize its potential to level the playing field and address systemic inequalities. By shining a light on salary discrepancies, organizations can identify and rectify any instances of gender-based pay discrimination. Moreover, transparency fosters trust and fosters a culture of fairness and equity, ultimately boosting employee morale and retention.Challenges and ConsiderationsDespite its potential benefits, implementing pay transparency is not without challenges. Some employers may be hesitant to disclose salary information, citing concerns about privacy, competitiveness, and potential backlash from employees. Additionally, there's a risk that transparency alone may not fully address underlying issues such as unconscious bias or systemic barriers to advancement.In conclusion, while pay transparency holds promise as a tool for addressing the gender pay gap, it is not a cure for all. It must be accompanied by comprehensive efforts to tackle the root causes of inequality, including addressing unconscious bias in hiring and promotion processes, promoting diversity and inclusion initiatives, and providing support for work-life balance. Nevertheless, by embracing transparency and fostering a culture of fairness and accountability, organizations can take meaningful steps towards closing the gender pay gap and creating a more equitable workplace for all. Discover your next career move with companies committed to equality and fair pay! Explore our latest job opportunities with Companies the Care who provide equal pay initiatives and many more!
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DE&I News reel: Corporate Action & Personal Advocacy Drive DE&I Demand In Asia-Pacific
In a recent study conducted by Fleishman Hillard across 10 Asia-Pacific markets, DE&I concerns have taken center stage, with racism, discrimination, and sexual harassment emerging as the top issues. According to Provoke Media, the survey, reflecting the views of over 5,000 respondents, underscores that 90% of Asia-Pacific consumers expect companies to actively address diversity, equity, and inclusion. While a majority emphasizes the importance of corporate action on DE&I, only 3% recall receiving information on the topic from their employers. Notably, 36%anticipate employee training, and 83% expect companies to appoint DE&I leaders. Economic issues, such as housing and income, are identified as key drivers for personal advocacy, surpassing traditional DE&I topics. The study emphasizes the need for organizations to tailor their DE&I efforts to diverse regional attitudes, recognizing the nuanced nature of these issues across markets in the region. Social media emerges as the dominant channel for information, with individual conversations seen as pivotal drivers of familiarity and understanding.Building a Stronger Future Together through DE&I with MccormickCorporation McCormick Corporation recently hosted its annual Global Diversity, Equity, and Inclusion Townhall, focusing on the theme "Creating Inclusion through Action." The event aimed to provide insights into key DE&I initiatives across the organization, celebrate progress, and underscore the ongoing commitment to fostering an inclusive workplace. The townhall featured a keynote address by John Quiñones, ABC News veteran and creator of "What Would You Do?" who emphasized the importance of empathy and standing up against discrimination. McCormick's DE&I goals for 2025 include having 50% of global leadership positions held by women and 30% held by ethnically diverse talent in the U.S. Employee Ambassador Groups (EAGs) play a crucial role in driving cultural change, providing a platform for employees to build awareness and leadership skills. The Women's International Network (WIN) launched a new chapter in the Asia Pacific Zone in 2022, organizing events focused on workplace productivity and women's health awareness. McCormick's commitment to DE&I is reflected in leadership development programs and active engagement with EAGs, fostering an inclusive environment and contributing to the long-term growth of the business.Aon: Asia Pacific Companies See ESG Issues of Critical Importance; However, More Work Is Needed To Fully Integrate Measures In the latest findings from Aon's 2023 Asia Pacific Corporate Governance and ESG Survey, it was revealed that while 58% of surveyed companies consider environmental, social, and governance (ESG) issues critical to long-term success, most are lagging in fully integrating ESG measures into their operations. Only 29% include ESG-related goals and KPIs for their C-suite, and just 34% have a dedicated ESG function. The study emphasizes the need for boards and management to better understand the link between ESG and business strategies, urging the incorporation of ESG performance criteria into executive compensation plans. The report underscores that failing to address and integrate ESG metrics could expose companies to reputational risks, financial impacts, and regulatory consequences in the face of evolving market dynamics. Additionally, the study highlights the importance of board education on contemporary ESG topics and the rising priority of green talent, as nearly one-third of surveyed companies plan to introduce or expand ESG roles.Kao Creates A New Diversity, Equity, and Inclusion (DE&I) PolicyKao Corporation, in adherence to its core values of integrity and commitment to a Kirei world in which all life lives in harmony, has introduced a new Diversity, Equity, and Inclusion (DE&I) Policy. Rooted in its corporate philosophy, the Kao Way, which emphasizes "walking the right path," the company has a long-standing history of safeguarding human rights and recognizing the diversity of its employees. The newly unveiled DE&I policy aims to expedite initiatives that foster diversity and inclusion, leveraging Kao's extensive range of businesses to collaborate with stakeholders, including employees and business partners, to contribute to a more inclusive society. This strategic move aligns with Kao's broader commitment to integrity, respecting human rights, and fulfilling its role as a responsible corporation in the ever-evolving global landscape.
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Cultivating a collaborative culture with a diverse workforce
As a manager, you have a unique opportunity to foster collaboration and embrace diversity within your team. The diverse cultures, backgrounds, and perspectives that exist in your team can be harnessed to drive innovation and success, and you need to make the most of it! In this blog post, we will explore strategies and best practices specifically tailored for female managers in Asia Pacific to create a collaborative work environment that celebrates diversity and empowers your team.Embrace Cultural NuancesAsia Pacific is a region known for its rich cultural diversity. Each country within this region has its own unique customs, traditions, and ways of doing business. As a female manager, it's important to understand and respect these cultural nuances. Take the time to learn about the values, communication styles, and social dynamics of the different cultures represented in your team. By embracing and appreciating these differences, you can create an inclusive environment where everyone feels valued and understood.Lead by EmpoweringAs a female leader in a traditionally male-dominated society, your leadership style can inspire and empower others. Lead by example and encourage your team members to voice their opinions and ideas freely. Create a supportive and inclusive work environment where individuals feel comfortable sharing their perspectives, regardless of their gender or cultural background. By empowering your team, you will foster a collaborative atmosphere that encourages diverse contributions.Build Strong RelationshipsRelationship-building is paramount in Asia Pacific cultures. Take the time to build genuine connections with each team member, both professionally and personally. Engage in regular one-on-one conversations to understand their aspirations, challenges, and unique perspectives. Show genuine interest in their cultural backgrounds and experiences, and create opportunities for cross-cultural exchanges. Strong relationships based on trust and mutual respect will enhance collaboration and foster a sense of belonging within the team. Adapt Communication StylesEffective communication is essential in any workplace, but it becomes even more critical when working with diverse teams in Asia Pacific. Be mindful of different communication styles and adapt your approach accordingly. Some cultures may emphasize indirect communication or value non-verbal cues. Foster an open and inclusive communication environment where team members feel comfortable expressing themselves in their preferred style. Encourage active listening and provide clarity when necessary to ensure that everyone is on the same page.Address Gender BiasAddressing gender bias is a crucial step in empowering female managers in Asia Pacific. Be aware of any gender disparities that may exist within your organization and actively work towards creating a level playing field. Advocate for equal opportunities and fair treatment for all team members, regardless of their gender. Mentor and support aspiring female leaders, and create initiatives that promote gender diversity and inclusion. By leading the way, you can help break down barriers and pave the path for future female leaders.Encourage Collaboration Across BordersAsia Pacific is a region of diverse countries and cultures. Encourage collaboration and knowledge sharing across borders within your organization. Facilitate cross-functional projects that bring together individuals from different countries and backgrounds. Foster an environment where diversity is celebrated, and the unique perspectives of each team member are leveraged for creative problem-solving and innovation.Invest in Professional DevelopmentSupport the professional development of your team members, especially women, by providing opportunities for training, mentorship, and skill-building. Create a culture of continuous learning and growth, and encourage your team members to take on new challenges and expand their horizons. By investing in their development, you empower them to reach their full potential and contribute more effectively to the team's success.As a manager, you have the power to create a collaborative work environment that celebrates diversity and empowers your team! By embracing cultural nuances, leading by empowering, building strong relationships, adapting communication styles, addressing gender bias, encouraging collaboration across borders, and investing in professional development, you can foster an inclusive and collaborative workplace where everyone can thrive. And remember, your role as a female leader is vital in breaking barriers and creating a more equitable future for women at work.
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A Victory for Working Women: Goldman Sachs to Pay $215 Million in Gender Bias Lawsuit
In a significant victory for working women everywhere, Goldman Sachs has agreed to pay $215 million to settle a longstanding class action lawsuit, which accused the financial powerhouse of gender discrimination, and taking a step towards empowering women in the workplace.The settlement will benefit approximately 2,800 female Associates and Vice Presidents who held positions within the company's Investment Banking, Investment Management, or Securities Divisions in New York between July 7, 2002, and March 28, 2023, as well as those employed in other parts of the United States from September 10, 2004, through March 28, 2023.Initially filed in September 2010, the lawsuit alleged widespread gender discrimination in pay, performance evaluations, and promotion opportunities at Goldman Sachs. After more than a decade of tenacious litigation, the two parties have finally reached an agreement, highlighting the importance of female career development and creating a more equitable work environment.Jacqueline Arthur, Goldman Sachs Global Head of Human Capital Management, said in a statement, "After more than a decade of vigorous litigation, both parties have agreed to resolve this matter."As part of the settlement, Goldman Sachs has agreed to collaborate with independent experts to conduct additional analyses on performance evaluation processes, promotion procedures from vice president to managing director, and pay equity studies. The company will investigate and address any identified gender pay gaps as appropriate. Additionally, Goldman Sachs has committed to enhancing communications with vice presidents regarding career development and promotion criteria, emphasizing the value of female career development.Arthur emphasized the company's commitment to fostering a diverse and inclusive work environment, saying, "Goldman Sachs is proud of its long record of promoting and advancing women and remains committed to ensuring a diverse and inclusive workplace for all our people. We will continue to focus on our people, our clients, and our business, empowering women in the workplace."The plaintiffs in the nearly 13-year-old lawsuit expressed pride in the outcome of the case. Plaintiff Shanna Orlich said in a statement, "As one of the original plaintiffs, I have been proud to support this case without hesitation over the last nearly thirteen years and believe this settlement will help the women I had in mind when I filed the case."Fellow plaintiff Allison Gamba added, "I am proud that the result we achieved here will advance gender equity and contribute to empowering women in the workplace."The announcement of this settlement comes just before a trial was set to begin in June, thereby averting a potentially lengthy and costly legal battle.The resolution of this case serves as an important reminder to working women that standing up for our rights and fighting for gender equality can lead to meaningful change. The perseverance and courage of the plaintiffs in this lawsuit have paved the way for a more equitable workplace, not only at Goldman Sachs but across the corporate landscape, making strides in empowering women in the workplace and promoting female career development.
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