Audeliss brings you the latest insights and trends surrounding executive search and diversity, equity, and inclusion in business across the world for August 2023.
Foreign-born CEOs face higher dismissal risk despite superior performance
Foreign-born CEOs often overcome more challenges to attain their positions and tend to lead companies to superior financial performance. However, new research shows they are more likely to be dismissed than their native-born counterparts when the company faces difficulties. This bias is attributed to intergroup and attribution biases among board directors, who favor familiarity over foreign leadership. The study suggests a need to address these biases to ensure fair treatment of foreign-born CEOs, acknowledging their valuable skills and contributions.
Workplace support for menopause and menstruation needs improvement
A survey of 2,000 workers by Motionspot, an inclusive design company, revealed that nearly half of respondents lacked access to essential amenities for managing pain and discomfort related to menopause and menstruation at work. Many reported mood swings, concentration issues, and fatigue due to hormonal fluctuations, highlighting the need for better workplace support. Respondents desired features like fresh air, comfortable seating, natural light, and private rooms to address these issues effectively, emphasizing the importance of inclusive design for a healthier work environment.
Employees feel excluded despite a sense of belonging
A global report by EY’s Belonging Barometer reveals that 41% of employees feel a strong sense of belonging at work, second only to home, yet 75% also report feeling excluded. Additionally, 56% hesitate to share aspects of their identity at work, especially if they fear it might hinder their progress. The report highlights the importance of one-on-one check-ins, flexibility, and DEI initiatives in fostering a sense of belonging and productivity at work.
Tech industry group seeks DOJ guidance on DEI initiatives
The Chamber of Progress, a tech industry trade group, has requested guidance from the U.S. Department of Justice’s civil rights division regarding diversity, equity, and inclusion policies in the private sector. This request comes in response to legal challenges against DEI initiatives following a Supreme Court ruling against affirmative action in higher education. The ruling has led to increased uncertainty about DEI practices in corporations, with some companies retreating from diversity targets and programs. Critics argue these legal challenges are creating a chilling effect on corporate DEI efforts.
Unemployment in the UK rises amid wages surpassing inflation
Recent data from the Office for National Statistics (ONS) indicates that UK wages have increased by 7.8% compared to the previous year, overtaking inflation, which stands at 6.8%. However, unemployment rates have risen from 4.2% to 4.3%, largely driven by individuals unemployed for up to 12 months and those facing long-term sickness. While high unemployment offers a larger pool of job seekers, it may not necessarily translate to higher employment, creating a complex situation for employers.
Increased pay transparency in U.S. job postings
A report from Indeed’s Hiring Lab reveals that in August, 50% of job postings on Indeed included some level of employer-provided salary information, marking a significant rise in pay transparency. In New York, 61% of job postings featured pay transparency, driven by new salary disclosure rules. This trend has nearly tripled from 18% in February 2020, and it’s expected to continue growing. While pay transparency can enhance trust and address pay gaps, it may also introduce complexities in the hiring process.
The first 44 days is a crucial period for new hires
A report from BambooHR emphasizes the importance of the initial 44 days for new employees, revealing that around 44% of new hires have regrets or second thoughts within the first week. Nearly 70% decide if a job is the right fit within the first month. Onboarding and personal relationships play a vital role, with workplace friendships valued more than meeting the CEO. Key frustrations during onboarding include clarity on questions, training, and technology issues. Effective onboarding can reduce resentment, enhance the employee experience, and contribute to a positive workplace culture.