Feb. 16, 2017
7 minutes of reading
Comments expressed by Businessmen the contributors are their own.
The following excerpt is from Glenn Llopis’ book The spirit of innovation. Buy it now from Amazon | Barnes & Noble or Click here to buy it directly from us and SAVE 60% on this book as you use the code LEAD2021 through 4/10/21.
Cultural demographic change (CDS) is driving the fastest growing division of our U.S. workforce, and demographic change represents the largest segments of the US workforce. Americaspotential purchasing power. But they also represent a number demographic of the business Owners in the United States You want them to be your customers, but they also quickly become competitors.
Changing populations, like immigrants, are forced to use the psychology of innovation to see opportunities and embrace entrepreneurship. This is part of the reason why black women are the fastest growing group of business people in the US (up more than 322% between 1997 and 2015 according to the “2015 Women-Owned Business Report” by American Express. Authorization Open) and why the number of Spanish-owned businesses increased by 15 times faster than other US businesses (or at 7.5% between 2012 and 2015, according to a study by consulting firm Geoscape and the American Chamber of Commerce in Spain).
These demographic changes provide the opportunity to reach populations that a business does not have the talent to connect internally. That’s how we come up with the three most conspicuous areas where the CDS creates immediate and obvious growth opportunities:
- Workplace / workforce
- External partnerships
- Market / consumer
Solve the gaps in these three areas using the six traits of the innovative mentality, and you address high-performing groups through diversity of thoughts; an authentic workplace culture where values defined by individuals are encouraged to create continual innovation; and the knowledge capital and unprecedented know-how have brought into full play the potential in human. All of this results in an intimate engagement that maximizes the potential of your employees and customers. It is a sustainable ROI!
So ask yourself: “What does your workplace have cultural support demographics, culture and experience and capitalize on them in these three areas? “Probably not. Most now leadership In America, it’s bad not to prepare or want to see the gaps of opportunity, let alone invest in them. Unfortunately, American corporations see all of this activity as an initiative (cost center) and will see CDS as the last remaining real growth opportunity (center of profit) only if the US Latin and other international regions are starting to seize unprecedented opportunities because they have the vision to see it first.
Settlement for workplace / workforce
Do you honor your workplace differences and personalities? Or are you like the hundreds of companies I’ve worked with said something similar to what the senior executives of a large investment banking company told me: “Today, they’re I fear for the future of the business because our employees don’t “t involve with our emerging global client base. Many of our new competitors are now owned and operated by Indians, Asians, African Americans and Hispanics. We continue to lose key diverse members of our workforce to these competitors because we lack the cultural intelligence to retain them.
Remember, you cannot develop this cultural intelligence, let alone define your business background, unless you have leaders who possess the experience and influence their culture has. can give them the way they think, act, and be motivated to do it. This is part of their leadership identity. That is why it is important for you and your manager to take the time to define brand leadership value proposition and identity.
When you’re in evolution mode, you have to create your own background. If not, just keep replacing, which is exactly what workplace programs like Employee Resource Groups do. ERG is developing initiatives within corporations because CDS requires new, diverse talent in management, executive, and senior management roles. I used to think ERG could play this role and have purpose beyond facts, social aspects and focus group That often defines what they do in most companies – as a fully voluntary, remember you. But I realize that they almost always have no real strategic value. They are just initiatives. Even if they have hundreds of members, only a small percentage of ERGs are active. It is difficult to recruit new members when these volunteer groups are not properly encouraged or invested. And why should people join when no one on top management is active or sees any real strategic value in them, other than initiatives that exist only to check another box? in the list of “compliance”.
It is irresponsible. ERGs and workplace groups like them only have value if they’re important and have a quantitative impact – and that happens in a small percentage of companies, it’s almost statistically irrelevant. Until then, the ERG will probably generate one organ than divide until the organization can recognize the value that comes from different types of people. That’s why, like job descriptions, I believe they should be scrapped until organizations clearly identify what their ERGs are addressing. Before re-establishing the ERG, organizations should view these groups as profit-centric rather than cost-centric, paying active members a small bonus to stay active and contribute in a way. quantification on business growth. Without that, the ERGs would continue to act as the “diversity checkbox”, inadvertently creating more tension and widening the interaction gap between their members.
So what’s the solution? Instead of large groups of inactive members, I would like to see small “idea laboratories” led by subject matter experts who serve as examples of how the difference is unique. Their roots foster innovation and initiative. You cannot join the group unless you are a topic expert or wish to become one, because as an expert you know what problems you can solve, see the opportunity gaps and identify them quickly to build a plan around them. This group and the team’s plan then serve as examples of how their unique differentiation creates tangible change and growth impacts profits.
That’s how the ERG gets smarter at identifying what they’re ultimately trying to accomplish for themselves and the business, and then creating metrics to enforce accountability to secure their goals. being measured and achieved. The ERG must see itself as a formidable promotion platform for talent and market development. They have to focus on defining one value proposition more strategic fit to see and capture opportunities for innovation and business growth that are directly related to a person’s cultural identity, gender, sexual and social orientation. They must be stronger and encourage different perspectives and perspectives to translate into solutions to meet company growth goals and initiatives across channels, brands, and business units. Until then, they will do nothing to lessen the fact that the changing face of America is met with great resistance. That is how and why the “old guard” is still uncomfortable with the CDS; it still represents uncertainty and change for those who don’t fully understand what diversity means to drive business growth, which brings us to external partnerships. .
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