Audeliss brings you the latest insights and trends surrounding executive search and diversity, equity, and inclusion in business across the world every month.
FTSE All-Share lack ‘diversity of expertise’ in their Boards
The Hidden Talent: Diversity & Inclusion in the FTSE All-Share report by Women on Boards UK found that FTSE All-Share Boards are still comprised of executives with finance and operations background, despite 82% of Board members listing culture and people a “top level” area for their Boards.
The report also found that there are only two Board members in the entire FTSE All-Share who have people, culture, or HR job titles.
Source: https://wbdirectors.co.uk/diversity-research-report/
Empathetic leadership is key to ensure wellbeing of employees during layoffs
The key to ensure the wellbeing of outgoing employees is by providing support through helping them identify their valuable skills and develop ones they need for future success, according to a recent survey by Lee Hecht Harrison.
The survey found that there’s a great disconnect between what HR leaders and employees say; an average of 48% of HR leaders have said that their company provide some sort of layoff support such as mental health support, career coaching and mentoring, while an average of 14% of employees are aware of them.
Source: https://info.lhh.com/risks-and-opportunities-in-workforce-dynamics_NA
Fortune 500 Boards are still lacking in representation
The 7th edition of Deloitte’s Missing Pieces Report found that almost 45% of Board seats were held by women and ethnically diverse people in 2022, which is a significant growth from 2022 (38%). However, the speed in which these changes are happening are inconsistent across the demographics.
According to Deloitte’s Center for Board Effectiveness National Managing Partner, Carey Oven, that “At this pace, U.S. top corporate boards might not represent the nation’s population until 2060.”
Gender bias is likely to hinder UN’s 2030 gender parity goal
Over the last 10 years, gender inequality is still prevalent despite a rise in women’s social movements and rights groups due to culture bias.
According to the United Nations Development Programme’s Gender Social Norms Index, which covers 85% of the global population, 9 out of 10 men and women hold fundamental biases against women; two out of five people surveyed believe that men make better business executives than women and almost half of those surveyed believe that men make better political leaders.
Source: https://hdr.undp.org/content/2023-gender-social-norms-index-gsni#/indicies/GSNI
Employees are expected to quit their jobs in the next 12 months
Data from PwC’s Global Workforce Hopes and Fears Survey 2023 found that despite worries of recessions and rising unemployment, 26% of UK employees have said that they are likely to change jobs in the next year.
The number is higher for gen z and millennial respondents, with 35% and 31%, respectively, planning to change jobs; respondents stated dissatisfaction with workload, pay and work-life balance as catalysts for quitting their current company.
Source: https://www.pwc.com/gx/en/issues/workforce/hopes-and-fears.html
Recruiting scams are on the rise
Since the Covid-19 pandemic, the rate of job scams has gone up by 88% since 2019. As the job application process has become more accessible, fake recruiters and job scams have taken the opportunity to deceive job seekers by creating fraudulent job postings and posing as recruiters from reputable organizations.
Under the guise of processing fees and background checks, these scammers can acquire personal details and financial details, which can result in identity theft and financial losses.
Job seekers put off applying for jobs in states with anti-LGBTQ+ laws
Over three-quarters of respondents from an Indeed survey have said that they are put off applying for jobs in states that have anti-LGBTQ+ laws. The survey looked at over 700 full-time professionals in the U.S. who identify as LGBTQ+ in order to assess how members of LGBTQ+ communities feel at work.
The survey also found that 75% of people have said that they would hesitate to apply for a company that is headquartered in a state with anti-LGBTQ+ legislation. 65% of respondents have said that they are concerned about how these laws will affect their employment opportunities.
Source: https://www.indeed.com/career-advice/news/lgbtq-legislation-affect-work
