Edward jones oct2011

transcript

Next Generation Diversity & Inclusion:Profitable, Sustainable, Global

Edward Jones | October 12, 2011

Andrés T. TapiaPresidentDiversity Best Practices

Visit www.inclusionparadox.com www.diversitybestpractices.comFollow diversity trends & insights: http://twitter.com/AndresTTapia

2PERUPERU

To, the wheat fields of Harrington, WashingtonTo, the wheat fields of Harrington, Washington

From the cacophony of Lima, Peru

It’s Upside Down…

The World Is Not Flat

An Upside-Down World—Meta Trends

An African American Is U.S. President

To Be Young Is to Be Experienced

To Be a Minority Is to Be a Majority

To Be a Woman Is to Be Rising in Opportunities

To Be Disabled Is to Be Differently Abled

To Be an Economic Superpower Is to Be a Declining Power

To Be a Developing Nation Is to Be on the Ascent

Americans Are the “Locals”

Newspapers are Becoming Obsolete

Technology Is Not a Tool, but a Way of Life

An Upside-Down World—Meta Trends

Post…BoomerPost…American

Post…

Modern

Post…

Economic boom…

Post…

How do we prepare our leaders?

In a Post…In a Post…

Economy

Politics

Workplace

In 1950 90% of the US was white; by 2040 only 50%. Already 30% of US

racial/ethnic minority

“Minority” representation today byage bracket:

41 yrs or older – 23% 40 yrs and younger – 35%

10 yrs and younger – 40%

Starting in 2008, 70% of new entrants into the workforce have been women and minorities

United States

Black: $921 billion. 8.7% of the nation's buying power

Latino: $1 trillion; 9.6% of the nation's buying power, up from 5.2% in 1990

Asian-American: $526 billion in 2008; 5% of the nation's buying power

LGBT: $615 billion, a cumulative increase of more than 34% from 2002 figures

Estimated Buying Power in 2008

People of color and women crashing through previous barriers

United States

This year more women in labor force than men

More women getting advanced degrees

“18 million cracks in the glass ceiling”

Source: http://pewhispanic.org/states/population/

Latinopalooza

25% of the US by 2025

1/3 of residents in California

Half of babies born in Texas

9 of 10 newborns in New Orleans

35% of those in the US who are under 18-years-old

Half of the US population growth since 2000

41% of Chicago’s public school students

Latinopalooza

Über-flexible

Iterative

Simultaneously Independent and Communal

Trends and Characteristics that Shape the Emerging Workforce

Impact of Diversity on Team Performance

Reference: Adler, N. J. International Dimensions of Organizational Behavior. 4th ed. Cincinnati, OH: South-Western, 2002.

Effectiveness in creative

Monocultural Teams

MulticulturalTeams

Less More

++ +++

c. Milton J.Bennett, 2008

AveragePerformance

Leader ignores or suppresses cultural difference

Cultural difference an obstacle to performance

Leader acknowledges & supports cultural difference

Cultural difference an asset to performance

To Sustainable DiversityTo Sustainable Diversity

Who Doesthe Work

Business Business

CaseImpact on products and services

Operations Business CaseImpact on internal

systems and processes

WhatWe Sell

How We Run the Business

Talent Business

CaseImpact on talent

(engagement, retention,

advancement,etc.)

To…Crosscultural Competence

From…Tolerance and Sensitivity

d ability 2 discern n taK N2 acct one’s own n others’ wrld views 2B abL 2 cz opertntys, mke decisions, n resolV conflicts n wAz dat optimize cultural diffs 4 btr, longA lastin, &mre cr8tive soln’s.

The ability to discern and take into account one’s own and others’ world views to be able to seize opportunities, make decisions, and resolve conflicts in ways that optimize cultural differences for better, longer lasting, and more creative solutions.

Crosscultural CompetenceCrosscultural Competence

Different Money Worldviews

Implications for Benefits

Race Salary Gender Tenure Age Balance

PARTICIPATION

AVERAGE CONTRIBUTION RATEAVERAGE CONTRIBUTION RATE

AVERAGE % IN EQUITIESAVERAGE % IN EQUITIES

INTERNET USAGEINTERNET USAGE

% W/LOANS &WITHDRAWALS OUTSTANDING

1 2 3 4 5 N/A

1 2 3 5 4 N/A

1 N/A 3 4 5 2

1 2 N/A 3 N/A N/A

1 3 3 6 5 2

Hewitt Analysis of How Culture Affects Long-Term Savings Behaviors

African America

Hispanic

Percent with Loans OutstandingPercent Taking a Withdrawal

Average Percent in Equities

Average Contribution Rate

Internet Usage

Participation

More financial security

Less financial security

Ethnicity Drives Plan Behaviors

African America

Hispanic

Percent with Loans OutstandingPercent Taking a Withdrawal

Average Percent in Equities

Average Contribution Rate

Internet Usage

Participation

More financial security

Ethnicity Drives Plan Behaviors

Participation Contribution Rates

% in Equities Internet Usage

Loans Withdrawals

African AmericanHispanic

-2% -7%-9%-15%

56%47%

-9% -7%

-24%-32%

171%Regression-adjusted comparison of 401(k) behavior (relative to Whites)

What does “long term”

la familia

nosotros

el equipo

Tame the Wild West

Pull yourself up byyour bootstraps

God helps those whohelp themselves

que sera, sera

Dios quiereGod willing

¡El avión nos dejó!

What will be, will be

The plane left us!

I am a member of Second Baptist, Hycel B. Taylor, Pastor

I am an Alpha Phi Alpha

I am an Alpha Kappa

Picture this…

Crosscultural CompetenceCrosscultural Competence

Is It Really An Option for Edward Jones Not to Make Diversity and

Inclusion One of your Highest Priorities?

It’s in Edward Jones’ DNA:

A Culture of Caring and leaving individuals

better since we met them

It’s time to re-listen to the Genius of Ted

Jones:The

Overlooked Communities

Overheard at Jim Weddle Townhall

Embracing differences makes us collectively stronger

It makes our work better

Right thing to do but also a business imperative

Hispanics as investors: Average age 46 – middle of he peak of asset accumulation years

Nearly ½ Hispanics are homeowners; 3 out of 4 working; average net worth just under $200,000

Various groups of color value personal approach

Purchasing power among African Americans increased 86% over past 10 years

African Americas tend to save more forcollege and home than for retirement

86% purchasing decisions made by women.They are no longer only the wives of the men who manage the family finances.

WINGS: more than half Financial Advisor net growth in 2010 was women

And does anyone really know what

young people want?

¡Gracias!

inclusionparadox.comtwitter.com/AndresTTapia

Edward jones oct2011

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