Presentation on theme: "The PwC Vision on Young Women Leaders Programme Looking through the Lens of the Kaleidoscope September 2012 www.pwc.com."— Presentation transcript:
The PwC Vision on Young Women Leaders Programme Looking through the Lens of the Kaleidoscope September 2012 www.pwc.com
Agenda The New Challenge...Talent Scarcity What is the Kaleidoscope Career Model Looking through the lens of the Kaleidoscope The ABCs of the Kaleidoscope Career Model Understanding Working Women’s Needs Results: A Closer Look At the Numbers She Said... Interviews PwC-Women in Business PwC in the News Did You Know?
PwC 3 48% of CEO’s are planning to raise their headcount to get the right people to the right place, with only 26% aiming to cut it down. In order to close the current gap companies are advised to include more women in their workforce to widen their talent pool. Michael White, Chairman, President and CEO, The DIRECTV Group Inc. Let’s face it. There are 80 million Baby Boomers who are going to retire over the next five to seven years, and they’re going to be replaced by 40 million Gen Xers. That’s two to one, so you’d better be developing your next generation now if you’re going to be ready for that transition. The New Challenge... Talent Scarcity
PwC 4 The talent scarcity challenge is also affected by the adequacy in meeting the needs of professional woman. 42% of women voluntarily quit their careers to seek more flexible work options 5 % only look to re-enter the company they left. The New Challenge... Talent Scarcity To close the current gap and calm this “opt-out” revolution, companies are advised to attract and retain more women in their workforce. However, widening the talent pool, by including more talented women, can be achieved through the development of the Kaleidoscope Career Model.
PwC 5 The Kaleidoscope Career Model (KCM) is an emerging career development concept based on the results of five different studies originally launched by Sullivan and Mainiero of over 3,000 professional workers in 2005. Traditional career development models show that they were tailored according to the results of studies designed for men, without taking into account the working lives of women. What is the Kaleidoscope Career Model?
PwC 6 Looking through the Lens of the Kaleidoscope Authenticity Balance Challenge KCM is a model that promises challenge, balance, and authenticity during a woman’s career path.
PwC 7 The ABCs of the Kaleidoscope Career Model ChallengeBalanceAuthenticity Challenge, which is common among women in early career stage, is best described as the voltage of work achievement. Balance is when married working women combine factors and put them in equilibrium. Authenticity is finding one’s true voice while considering his/her strengths and limitations.
PwC 8 Understanding Working Women’s Needs To which point do women look for challenges in everything they do? To which extent do gender issues affect their careers? Are women satisfied with the way their careers are progressing? How difficult do women find maintaining work- life balance? A random sample of 265 women working in PwC Middle East participated in a recent study. Some matters tackled by this study are: What values guide women's career decisions? How challenging is being a working mother?
PwC 9 Results: A Closer Look at the Numbers 47% 62% 70% of women in the sample had to interrupt their career at some point in favour of their families of the women reported that their career focus had changed when they left their job for several reasons including the male dominated mentality, the work environment, the need for a more meaningful job or spouse’s relocation; versus 38% for rearing children. of women in this study chose not to seize the promotional opportunities they were offered because it would have negatively impacted their families. 100% of women agreed that family, for which they are the primary care-givers, is a priority although their full-time challenging career has a highly significant priority in their lives.
PwC 10 Results: A Closer Look at the Numbers Below are the women career motivations over their life spans:
PwC 11 She Said... I was a career-oriented woman when at some point my desire to become a mother kicked in. Today, as a working mom, what matters for me is making my son proud of me and only through my job I am able to provide him with the ideal quality of life.
PwC 13 PwC – Women in Business On International Women's Day 2010, PwC Middle East announced the launch of its Women in Business (WIB) initiative. The approach is to drive activities through connecting with the following four groups: 1.Women to (other PwC) Women – Internal Focus; 2.Women to (PwC) Leadership – Internal Focus; 3.Women to Clients (current and future) – External Focus; and 4.Women to Community – Corporate Social Responsibility (CSR ).
PwC 14 PwC – Women in Business It was also established to address challenges that women face, some of which include: Gender-based stereotyping; Ethnicity issues and HR policies; Exclusion from informal networks; Lack of role models and mentoring; Preconceptions of women’s roles and abilities; Commitment to personal and family responsibilities; and Failure of leadership to assume accountability for women’s advancement
PwC 15 PwC in the News Initiatives New board level mentoring programme for 28 high potential female partners “Comply or Explain” policy regarding the ratio of women being promoted to senior ranks. Dedication of two networks for women: “PwC Women” and “The Female Partner and Director Network”. Increase of the number of female partners by 50% until 2015. Flexibility in terms of working hours and location. Mentorship programme Full Circle to stay connected to PwC for up to five years Celebration of Women’s Day Work from home Breastfeeding hours break Bringing children to PwC offices. Pedometers Pre-natal awareness campaigns. Appointment of two women to the Executive Board as of July 2011. Awards Ranking in the Times Top 50 workplaces “Where Women Want to Work” for the fifth year. One of the 25 “Best Companies for Multicultural Women”
PwC 16 Did You Know? Despite their educational achievements, women only represent: 1.6% of FORTUNE 500 CEO’s and less than 10% of line managers in the US A full-time working woman earns 73.7% of a man’s salary in Britain Salaries face a gender gap of 6% in Lebanon In Europe, a woman earns on average 76% of a man’s salary % of national female participation rate in the workforce in some ME countries