committed to managing diversity. Why all the energy preamble on International Womens Day? Balanced Scorecard strategic analysis can help Sodexo Diversity managers in understanding the relationship between activites and take the systems approach rather than the local optimization approach. COVID-19 reared its ugly head, disproportionately impacting the economic, emotional and physical well-being of Black Americans. 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Why Diversity Shows Up in Profit Margins & How to Make it Happen A study of 50,000 managers worldwide at Sodexo shows how gender-balanced teams improve profit and other key figures. Dont Ignore Groups Less Easy to Count: The elephants in the room with diversity data continue to be LGBT people and people with disabilities, since it is difficult for companies to get an accurate count for both those demographics. Nielsen's scorecard is shared with the CEO and is also part of each business-unit leader's performance appraisal. For greater details connect with us. - Are we innovative and ready for the future? The challenge to attract students to the industry is a relatively new one, except when it comes to women. By DiversityInc Staff M. E. Porter, Competitive Strategy(New York: Free Press, 1980) Sodexo is a constituent of the FTSE4Good Index following the June 2020 review. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRMs permission. Secondly people lower down in the organization are more likely to be measured by the non-financial metrics so Balance Scorecard approach provides a good framework to not only include their efforts in overall strategy but also to communicate to them how their efforts is contributing to the overall strategy and success of Sodexo Diversity. Diversity became a key priority for Sodexo, North America in 2001 after a class-action lawsuit was filed and certified in Washington, D.C. against Sodexo Marriot Services, Inc., the food services division that Sodexo had merged with in 1998. Although many companies use the two terms interchangeably, there really is a difference. Balanced Scorecard approach focuses on comprehensive metrics rather than only local optimization in various spheres such as financials, operations, internal processes, and customers needs. Return policy New sales as a percentage of total sales Mia Mends, Global Chief Diversity, Equity, and Inclusion Officer and CEO of Impact Ventures at Sodexo, was featured in an article about turning diversity and inclusion plans into actions. DiversityInc Best Practices is designed to help you find data, solutions and best practices to diversity-management questions and strategies. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk . temp_style.textContent = '.ms-rtestate-field > p:first-child.is-empty.d-none, .ms-rtestate-field > .fltter .is-empty.d-none, .ZWSC-cleaned.is-empty.d-none {display:block !important;}'; } For the 17th consecutive year, Sodexo has been ranked as one of the top-rated companies of the Restaurants & Leisure Facilities on the S&P Global Dow Jones Sustainability World Index. Policies. Can more women in energy be the answer to these problems? O. E. Williamson, Markets and Hierarchies(New York: Free Press, 1975) The strategic nature of this initiative has led to strong results. 46), Nielsen (No. The diversity part is hardline numbers: hires, promotions, etc. If so, you belong in this family. Please log in as a SHRM member. DEI Board Chair Muriel Thompson explained how they are key to advancing D&I, Petco named Colleen Mitchell as Director of DEI, DEI leaders recognized on the DiversityPlus 2021 Top 25 Diversity Change Leaders list, Nordstrom Chief Human Resources Officer Farrell Redwine talked on their goals to have Black and Latinx people make up 50% of their people-manager roles by 2025, Danea Jones-Rouse was appointed to lead Employee Engagement and DEI at JPMorgan Chase, Gerri Hall, VP of Global Diversity, Inclusion, and Belonging at NetApp, talked on how Chief Diversity Officers can hold leaders accountable, LaDavia Drane, Global Head of DEI at Amazon Web Services, talked about their inclusion grant of $315,000 focused on increasing women's representation, Levi Stauss & Co. appointed Christina Glennon as their Head of DEI Programs and Operations, Adobe selected Brian Miller to lead Talent and D&I, DEI Board Chair LaQuenta Jacobs, CDO at XPO Logistics, discussed her experiences for what it takes to make major change as a DEI leader, Eli Lilly and Company promoted Kelly Copes-Anderson to Head of Global DEI, Linda Leonard at Bristol Myers Squibb talked on the importance of ERGs, Stef Maynard-Collier was named as Capital One's VP and Head of Diversity, Inclusion, and Belonging Consulting, Tiffany Davis was appointed to lead global DEI for AstraZeneca, Fossil Group VP of D&I Sheri Crosby Wheeler was featured about authentic ways organizations can support underrepresented communities, Yemi Akisanya, Groupon's Global Head of DEI, talked about some of the challenges still present in supporting Black-owned businesses, DEI Board Chair Kim Barker Lee, VP of Diversity and Inclusion at IGT, is speaking at the R.I.S.E. Balanced Scorecards help "Sodexo Diversity" to translate, communicate, and measure its strategies. 9, Issue 4, pp. The energy industry is facing unprecedented times. Although as a financial services company results are everything, and we measure everything, having too many can be overwhelming.. It leverages a top-down, bottom-up, middle-out strategy to drive diversity and inclusion, inform diversity strategies, engage employees across levels and functions, and influence client employees. Break-even time realized. Please purchase a SHRM membership before saving bookmarks. 49-61. Of the companys estimated 9,000 employees, 27 percent are minorities and 23 percent females; of its 30 officers, 20 percent are minorities and 24 percent are females. What can companies do? Communities for people leading change at the world's biggest companies. else if(currentUrl.indexOf("/about-shrm/pages/shrm-mena.aspx") > -1) { 9801 Washingtonian Boulevard, Gaithersburg, MD 20878, Intentional innovation to support the military, Environmental Services and Infection Prevention, Convenience, Office Coffee, and Micro Markets, Engage Employees with Satisfying Food Services, Sodexos Actions to Mitigate Impacts of Coronavirus. If you exclude people who are retired or people who are not of, The DiversityInc Top 50 Companies for Diversity survey is the ultimate assessment of diversity in corporate America. Privacy & cookies. Email, phone, or Skype. If youre driving meaningful change on complicated issues, weve got a board seat for you. Intentional innovation to support the military, Environmental Services and Infection Prevention, Convenience, Office Coffee, and Micro Markets, Engage Employees with Satisfying Food Services, Sodexos Actions to Mitigate Impacts of Coronavirus, leading-edge diversity, equity and inclusion practices. Make sure that the idea of scorecards and accountability is aligned with the culture of your organization, Sodexos Anand said. Companies need to start holding leaders accountable for progress on diversity, and we all know that what gets measured gets done. As for the results, Anand said the percentage of minority employees at the company has increased 23 percent since the diversity scorecard and accountability program was implemented, while the percentage of female employees has risen 11 percent. The Balance Scorecard of each company varies based on the nature, size of the firm and industry it operates in. Strategic redundancy in job skills (job-coverage ratio) But maybe youre not the CEO or in a position to change compensation plans at your company. diversity; sodexo . Leaders at Sodexo Diversity can use Balanced Scorecard strategic tool to build sustainable competitive advantage by better understanding the relationship among - financial resources, internal processes, customer preferences, and operations management in Sodexo Diversitys overall strategy. Top management is involved in and. Before we share their best practices, lets clear up terminology confusion at many companieswhats a diversity scorecard and whats a diversity dashboard? A scorecard is a report that displays Key Performance Indicators (KPIs) with performance targets. This case profiles the evolution of Sodexo's diversity initiative. Second, the company measures supplier diversity spending. The initiative leverages a host of professional development programs that present opportunities to share diversity lessons with staff and clients, provide training to different employee populations, and develop connections through strategic networking and robust mentoring. For example, if a year-to-year comparison showed a drop in promotions, more emphasis in the scorecard would be placed on mentoring efforts, which yield more promotions. The ENGs serve as mechanisms to reach the geographically dispersed employee base and are crucial to the communication and development of diversity and inclusion programming; each ENG has its own individual development program designed to address relevant barriers. Sodexos progress has led many client organizations to seek its guidance and support in developing and implementing their diversity and inclusion strategies and initiatives. Barney, J. As Johnson notes, this enables the company to pinpoint diversity-management areas that are part of the solution. Find the latest news and members-only resources that can help employers navigate in an uncertain economy. I am now rarely the only woman in the room. Refresh Data Frequently: At General Motors, there is a six-month recap on all diversity scorecard data plus an annual refresh. Thomas J. Wilson, Allstates chairman, president and CEO, receives yearly data on workforce diversity components for each of his direct reports from demographics, promotion rates and opportunity, retention and turnover for their area of business which has implications on their overall performance and those of their leaders, Wiley-Little noted. Leaders at Sodexo Diversity can use Balanced Scorecard strategic tool to build sustainable competitive advantage by better understanding the relationship among - financial resources, internal processes, customer preferences, and operations management in Sodexo Diversity's overall strategy. diversity; sodexo . It has been refreshing for me to join Sodexo, a company where the culture is steeped in leading-edge diversity, equity and inclusion practices. To answer that question, I need to look at what youre trying to achieve. In 2022, Sodexo has been placed in the top 1% of companies. HARVARD BUSINESS SCHOOL CASE STUDY Shifting the - Sodexo. The Balanced Scorecard approach was first proposed by Robert S. Kaplan and David P. Norton in their January February 1992, Harvard Business Review article titled The Balanced ScorecardMeasures that Drive Performance. His current scorecard focuses on talent acquisition and talent development, with emphasis on key levels for new hires, managers and senior executives. Kotler & Armstrong (2017) "Principles of Marketing Management Management", Published by Pearson Publications. We have confidential conversations you cant have anywhere else. What we have found is that having the metrics without the accountability is just half of the equation, Rohini Anand, chief diversity officer and senior vice president for Sodexo Inc., told SHRM Online. scorecard includes both quantitative goals as well as. This recognition demonstrates key progress on our carbon strategy. She talked about the importance of their diversity scorecardand said diversity and inclusion are just as important a driver of performance as your gross profit numbers., Previous: If there was ever a time when we needed the best and brightest to work in the energy industry, it is now, and yet college students are asking me if a career in oil and gas is like going to work for the tobacco industry. Companies are increasingly using metrics or "diversity scorecards" to measure progress in hiring, promoting and retaining women and minority employees. In keeping with the organizations long-term focus, this incentive is paid regardless of the companys financial performance for the fiscal year. We have certainly learned over time that you can have too many measures, said Wiley-Little of Allstate. Share the Knowledge: Monsanto actually has created an automated dashboard that enables HR staff globally to assess its data to use for talent strategies, succession planning and people reviews. Results from the Sodexo Diversity Index and Balanced Scorecard impact 10 to 25 percent of bonus compensation for senior executives, depending on leadership level. At Sodexo, the diversity scorecard factors into senior executives year-end bonuses. Search and download FREE white papers from industry experts. You can have good initiatives and programs, but the idea is to really make sure you are changing behaviors and cultures within the organization, Anand added. var currentLocation = getCookie("SHRM_Core_CurrentUser_LocationID"); Sodexo ranks second in France and sixth on the list of 668 European companies in the European Women on Boards Gender Diversity Index Report 2021. } What is required to improve the brand equity or market performance in terms of marketing, sales, distribution, and pricing strategy. What can I do? Of all of Monsantos human-capital dashboards, the diversity dashboard is among the top three accessed, Harper says. The scorecard is reviewed annually and is often changed as business goals change, says Chad Johnson, Director, EEO/AA & Diversity Analytics and Systems. Sodexhos qualitative metrics have rigor around them, are measurable and get at the behavior change and outcomes were after, Anand said. Founded in 1962, Catalyst drives change with preeminent thought leadership, actionable solutions and a galvanized community of multinational corporations to accelerate and advance women into leadershipbecause progress for women is progress for everyone. Read workplace diversity, equity and inclusion pieces by Sodexo leaders and check out our Racial Equity and Social Justice Toolkit. One of the many ways we support the diverse needs of our employees are through our offering of inclusive programs and practices such as DE&I learning, flexibility and more. diversity strategy. Sodexo star ted its div ersity scorecard in 2002, after settling a racial-discrimination lawsuit and beginning t o Ensuring cultural diversity in the workplace is a process not something that happens without governance, accessibility and continuous self-reflection. Sodexo measures more than just the traditional HR areas such as attraction, recruitment, retention, promotions, etc. Go to contentGo to the main menuGo to search Change Location Worldwide Worldwide Change Location Americas So we want to make sure that we have the commitment and engagement of management at all levels. Fight for the things that you care about, but do it in a way that will lead others to join you. ***It is a broad analysis and not all factors are relevant to the company specific. For example, a large corporation might want to improve market share while a government or nonprofit organization might want to accomplish a more challenging mission. New ideas (per employee, implemented) It has been enlightening to receive diversity scorecards, sponsor Employee Business Resource Groups (we have nine, supporting and advocating for African Americans; Asians; Native Americans and aboriginals; Latinos; women; the LGBTQ community; people with disabilities; veterans and people of all ages), lead mentoring circles and to always be handed a diverse slate of candidates when filling a position. Timely delivery of goods and services Stories of people leading diversity, equity, and inclusion programs at the world's biggest companies. Sodexos IMPACT mentoring program, which connects employees across client sites, has resulted in a demonstrable improvement in womens careers: 30 percent of women who participated in IMPACT received a promotion. Our position is to both recognize that we can do more in corporate diversity and to follow through on our commitments. Erika Brown selected as Citis Chief DEI Officer, Next: The balanced scorecard allows managers to look at the business from four different perspectives. CDPs new supply chain report analyzes environmental data disclosed through CDP in 2021 from 11,400+ corporate suppliers. Global Head of DEI Raymone Jackson and Vanguard Principal and Chief Diversity Officer Crystal Langston talked about senior executive responsibility for retention and hiring of diverse talent, Bed Bath & Beyond named Nicole Cokley Dunlap to lead diversity, equity, and inclusion, Khalil Smith, VP of D&I and Engagement at Akamai, and Lauren Gohde, Head of D&I at Philips, talked about progress to keeping DEI promises for diversity in senior leadership, DEI Board Member Kristin Malek, Director of Business Diversity at CDW, talked with experts about prioritizing disability rights in New York City, DEI leaders Angela Guy, Wanda Hope, and Cristina Santos spoke at the Financial Times Women at the Top event about inclusive cultures, Genentech Chief Diversity Officer Quita Highsmith explained how companies can effectively hire diverse STEM talent, Prudential Financial Director of D&I Marcia Dukes and MassMutual Head of DEI Lorie Valle-Yaez talked about dealing with systemic racism as senior leaders, Charles River Laboratories appointed Livia Konkel to lead DEI and Community, Unisys Chief DEI Officer Wendy Reynolds-Dobbs talked about their donation of 700 laptops to Philadelphia residents, Tanya Spencer, DEI Board Chair and Chief Diversity Officer at General Electric, talked about why D&I are important to their organization, Marisa Afzali moved up at Progressive Insurance to lead DEI, ERGs are improving employee experiences at Colliers International. The scorecard also includes supplier-diversity results, which are reported on a quarterly basis to the Supplier Diversity Council and focus on minority-, women- and veteran-owned suppliers. Some even link metrics to key business objectives, and ultimately to compensation. Why is it called a Balanced Scorecard? What is even more rewarding is that the annual bonuses are directly connected to the diversity scorecard results, 25% for the executive team members and 10-15% for the senior to mid-level managers. Copyright 2023 DiversityInc Best Practices. Go to contentGo to the main menuGo to search Change Location Worldwide Worldwide Change Location Americas Brazil Canada Chile Colombia Costa Rica At Sodexo, our bonus-eligible employees have part of their bonus tied specifically to completing diversity, equity and inclusion training and activities. Anand and Landel worked with several executives to develop and implement systems that were conducive to a diversity strategy. . At Georgia Power in Atlanta, diversity and inclusion initiatives include a long-term management and organizational culture change process designed to expand management skills and accountability and to build trust around leading diverse work teams so everyone feels valued, respected and productive, and that includes white men, according to Frank McCloskey, vice president of diversity for Georgia Power. When it comes to accountability, leaders are evaluated annually on results and behaviors, according to Anise Wiley-Little, the companys chief diversity officer. If sales are down or if the economy is poor, you cant stop your focus on diversity and inclusion or youll lose ground and traction. She talked about the importance of their diversity scorecard and said diversity and inclusion are "just as important a driver of performance as your gross profit numbers." We are pressured to create shareholder value, deliver dividends, use our own cash flow to ensure continued oil and gas production, reduce carbon emissions in current production and transition to a future based on renewable sources of energy. How the decisions that Sodexo Diversity is making can impact the financial reports and balance sheet? Broadly there are four main components / features of Balance Scorecard. We need to assess if we are going to hit the benchmarks that were looking to achieve and how to get there, he says. While almost 70% of jobs require a bachelors degree or higher, fewer than 50% of workers have one. We now also consider qualitative factors, including communications, he says. And ready for the fiscal year Sodexo 's diversity initiative of goods and Stories! Terms interchangeably, there is a broad analysis and not all sodexo diversity scorecard relevant! 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