Panel Debate: Creating a diverse senior leadership team #wpc

Three key takeaways from a panel discussion on the value of diversity in procurement

The last session of day one of the WPC covered an issue that was perhaps the most emotive and contentious of the day; how creating a diverse senior leadership team can deliver a new value proposition. The panel discussed the issue and what it means to them, all agreeing just how essential a diverse leadership team is to the success of any organisation.  

Diversity means very different things to different organisations in different locations, it is important to assess what it means for your business and whether you want to address it.

The panel highlighted just how varied diversity is even in its definition. One panellist, for instance, commented that a North American client used the term “diversity” to refer to females and Europeans.

From gender to geographical differences, “diversity” will vary across organisations and business will need to truly recognise what this means for them if they are to benefit from utilising it.

All panelists agreed that businesses would be foolish to ignore diversity. Caroline Booth, CPO from TD Bank summed it up when she stated “Diversity of thought is incredibly important” for successful organisations.

However, businesses need to be sure of the reasons for why they are addressing it, “if diversity is just the flavour of the month,” Dapo Ajayi, CPO Astrazeneca commented, “employees will see through it” and ultimately it will not be successful.

Leaders need to have the right mind-set and advocate diversity themselves personally as well as through offering development opportunities for those potentially affected.

Once an organisation has a clear understanding of what diversity truly means for them and what they want to do about it leadership buy-in is essential.

“Diversity is not a recruitment issue, it is a leadership issue, it is a cultural issue,” Heidi Hoffman, Head of SCM for Korn Ferry noted.

Creating the right development infrastructure for employees who are affected is imperative. The panelists discussed how development and training is key, with Booth discussing initiatives at TD Bank such as Taking the Stage programme for female employees.

Ageism affects procurement and works both ways – too young and too old. It is essential to value people for their talent rather than anything else.

One key topic discussed by the panel was that of age. The new generation of employees, or millennials, have impacted the function, and procurement will need to accommodate this diversity to stay relevant. “Millennials will replace the old leadership, but it’s good to challenge the status quo” commented Dapo Ajayi.

On the other hand, the population’s average age is increasing, creating another issue for those hiring new talent to consider if teams are to remain diverse. Ultimately, the importance of valuing people for their talent, skills and attitude rather than their age.

from Procurement Leaders Blog http://ift.tt/1ewOFmG
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The views expressed in this post and throughout the series are the autor's own and not intended to reflect the views the YQ Matrix platform, its users or any associated organisations.

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