Why boardroom diversity matters to business

The business case for boardroom diversity has been firmly established and is supported by a growing body of industry research demonstrating links between gender diversity on boards and positive organisational outcomes, according to a peak diversity body.
In a report coinciding with International Women’s Day (8 March), the Diversity Council of Australia (DCA) cited research from the US which identified higher financial performance for companies with larger representation of women board directors in three key financial measures:

• Return on equity (ROE): on average, companies with the highest percentages of women board directors outperformed those with the least by 53%
• Return on sales (ROS): on average, companies with the highest percentages of women board directors outperformed those with the least by 42%
• Return on invested capital: on average, companies with the highest percentages of women board directors outperformed those with the least by 66%

Consulting firm Virtcom found that while diversity of board members’ skills and knowledge background was important, it was improving the representation of women and ethnic minorities on the board that had the greatest impact on diversity of perspective and thought.
Australian research has arrived at similar conclusions. The Reibey Institute also found that ASX500 companies with female directors delivered an average 11.1% higher ROE over five years than those without women directors.

More women round the table
The introduction of ASX’s Corporate Governance Principles last year triggered a flurry of corporate activity in Australian boardrooms – and recent metrics indicate that female representation on boards is on the up. According to the Australian Institute of Company Directors, as at January 2012 women comprised 13.8% of company directors on ASX200 boards , up from 8.3% two years previous.

Also 28% of new appointments to ASX200 boards in 2011 were women, compared to just 5% in 2009; and in the first month of 2012 women comprised 50% of new appointments to ASX200 boards.

Leaky pipeline for women leaders
Despite growing interest in workforce diversity among organisations in Australia and New Zealand, just 26% have a clearly defined strategy to attract and retain women long enough to reach senior leadership positions, according to women's leadership research conducted by Mercer last year.

And in a tight labour market, even world-leading levels of support around flexible work arrangements might not be sufficient to retain women long enough to reach mid-level and senior leadership positions – which could seriously impact an organisations' business performance.

“The problem is not the lack of female talent, rather the leaky pipeline whereby women drop out at senior levels at disproportionate numbers. This is our greatest challenge – not losing such a valuable group of people on the way to the top,” Marianne Roux from Mercer said.


Source: HC mag

HSBC to offer part-time roles to all new parents

Move will encourage women to progress their careers, says bank

HSBC is to guarantee the option of a part-time role at current title and salary grade to all staff returning from maternity or paternity leave.

Jobs equivalent to at least two-and-a-half days per week on a pro-rata salary and same level as their original role will be offered to returning parents, in a bid to help employees “balance the demands of family life with their career development”.

While every new parent is entitled to request part-time or flexible working there is no legal obligation for UK employers to provide it.

The bank said that the move – believed to be the first by a large corporate – recognised the difficulties faced by staff trying to juggle work and home life commitments.

Sue Jex, head of employee relations at HSBC, said: “As a business we see about 1,100 staff each year taking parental leave following childbirth and of this number, 87 per cent want to return to work.

“By guaranteeing our returning parents part-time roles, we are supporting our staff by offering more flexible working patterns in order to help balance the need for child care while maintaining household income.”

Jex added that parenthood was sometimes cited as a reason for the under-representation of women at board level, but that HSBC was committed to bringing women into senior positions.

“We hope that by guaranteeing part-time roles we can encourage those women who want to continue their careers and allow them to reach the levels to which they aspire,” she explained.

Staff seeking an extended period of leave will also be offered a one-year unpaid sabbatical and a ‘priority returner scheme’ if they rejoin HSBC within five years.

The bank already operates a job sharing option and working parents’ network, and offers 14 weeks’ maternity leave at full pay as well as 12 days per year leave for fertility treatment.

HSBC’s announcement comes ahead of this April’s change to the working tax credit, which will obligate all couples to increase their working hours from 16 to 24 – with one parent working at least 16 hours – in order to qualify.

The Working Families charity called on the government to reverse its forthcoming amendment, warning that businesses could not offer the additional hours required.

Only 17 per cent of employers surveyed by the work-life organisation said that they would be able to accommodate a staff request for an extra eight hours’ work per week.

Working Families chief executive Sarah Jackson said that many families would lose their working tax credit and “parents will find that it is no longer worth staying in work.”

 

Source: People Management 

Sexual equality: Get serious or face the consequences

A new Bill has been tabled in the House of Representatives which aims to strengthen the compliance and enforcement powers of the Equal Opportunity for Women in the Workplace Agency (EOWA), and if the Bill is passed non-compliant organisations could be publicly ‘named and shamed’ as well as face financial consequences by being ineligible to trade with the government or to receive grants or financial assistance.

The Equal Opportunity for Women in the Workplace Amendment Bill 2012 (Cth) (Bill) comes at a time when businesses are starting to take gender equality seriously and be more proactive in knocking down barriers to women advancing in leadership. In the past year diversity has been a talking point in boardrooms and businesses nationally, and it is timely that the legislation giving effect to the changes to EOWA has been introduced to Parliament alongside International Women’s Day (8 March).

Currently, organisations with 100 or more employees are required to make themselves known to EOWA and, unless exempt, to submit annual reports. However, the effectiveness of this regime has historically been restricted by EOWA’s limited enforcement and compliance powers.

It is estimated that up to a third of organisations that are required to report to EOWA have failed to identify themselves to EOWA. That the bill could be passed is a firm possibility, and employment lawyer Stephanie Nicol from Gadens advised large organisations to audit their compliance with the legislation.

Indeed the Bill changes the reporting obligations of organisations considerably. If the Bill is passed as it currently reads, reporting organisations will need to provide information on gender equality indicators, including:

• the gender composition of the workforce and board
• equal remuneration between women and men
• the availability and utility of flexible working arrangements
• evidence of consultation with employees on gender equality issues

Nicol said the Bill would raise gender equality issues to executive level because a new requirement would mean CEOs must sign off on the accuracy of reports. Additionally, the information provided in annual reports would also be used by the new agency to develop industry benchmarks.

While the Bill will not affect the 2011-12 reporting year, if it is passed it will have ramifications for the reporting year commencing on 1 April 2012. “It is imperative that organisations are aware of their obligations,” Nicol said.


Source: HC mag

How to give your kids healthy meals on a limited budget

 

We all know the importance of giving your kids healthy

...meals that are part of a greater nutrient-rich well-balanced diet. As many a parenting manual and nutritionist will attest, a good diet is essential for physical and cognitive development and healthy immune systems. Instilling good dietary habits from a young age also means that your kids are more likely to have a healthy attitude towards food in adult life.


This is all well and good but eating well is not necessarily conducive to spending little. Supermarkets don't make things easy as junk food, fatty snacks and pre-packaged ready meals are all markedly cheaper than say, organic fruit and vegetables.

Plus, what child would really choose to eat salad with their meal as opposed to fries, without putting up a fight? Certainly not my child! Convincing kids to eat healthy meals is a hard task for any parent so even if you've pulled off a healthy weekly shop within budget, it doesn't necessarily mean your kids will go for it.

There are a few things you can do though. Here's a few tips for getting your kids to eat healthy meals without breaking the bank.

Healthy Meal Planning

• It may seem obvious but the first rule for a good food budget is planning. If possible, evaluate what you spend on food on average on a weekly basis so you're able to work out what you can cut down on or exchange for a healthier option. Then, work on planning each meal including lunches so you only buy the necessary ingredients.
• Check the weekend newspapers for supermarket discount coupons. Always check out the special offers sections in stores as well, though be careful not to get carried away (as I often have) and end up overspending. Buy supermarket own brands wherever possible.
• If you're kids are fussy about eating fruit and vegetables, don't be afraid to use trickery and disguise them! Blended soups, pasta sauces and fruit smoothies are all effective ways to get those nutrients into them.
• Find out what fruits and vegetables are in season for your area and choose healthy meal recipes accordingly. If you're feeling super-organised, start a family recipe book with recipes grouped by season so you have a ready-made cookery guide for next year.
• Invest in some good sturdy storage containers and buy certain foods (e.g. pasta, oats, rice, cereals) in bulk. This will work out much cheaper in the long term.
• Consider growing your own vegetables. If you have the time cultivating a vegetable patch can be rewarding both for your wallet, the environment and your kids who will learn about nature in the process.
• Then sometimes when all this virtue gets too much work, I think it is more important to have quality dinner time with the kids rather than running around soaking chickpeas! Ordering in can really save the day, I use this chance for the kids to try something different like Vietnamese or Japanese: both of which are reasonably priced and have plenty of healthy options.

By Kate Bloomsbury from Delivery Hero

Source: Single Mum

Life a Work in Progress

Could you ditch the 30-hour week?

Carleen Frost speaks to three workers who have managed to adapt their job to better manage the demands of family and the office.

Elysha Stephens is a consultant who runs her business part-time from her Central Coast home.

"After Max was born four years ago I had to think about how I would continue with work. With more than 10 years' experience in marketing and communications across a range of industries including IT, development and hospitality, I felt I had some options.
But I also had a very clear picture of how much work I could take on and how I could fit that with my family. I felt I only wanted to start off with one day a week.
I'm in a good position in that I don't need to work so I had the luxury of time to consider the options and spent quite a few months looking for jobs and opportunities that would suit me.
One of the avenues which proved to be really helpful was signing up to CareerMums and mums@work newsletters.
Via those websites, I found a job one day a week asking for someone with exactly my skills and mentioned a work from home arrangement.
I got that job, which started off my freelance career."

Michael Ryan is a lawyer with Corrs Chambers Westgarth in the Sydney CBD. He works four days a week and spends Mondays at home looking after his children.

"With two kids, a one-year-old and a five-year-old, we wanted to sort out a flexible working arrangement to suit our family.
My wife already worked from home and I'm a commercial lawyer in the litigation section.
So now I have Mondays at home and it just gives me that much more time to be with them and help my wife with all the housework.
Having that extra day with the kids is great - just to have that relationship with them, to be more involved with their childhood is important to me.
My daughter started school this year and it meant so much that I was able to take the time to take her to school on her first day.
The flexibility of my job means that even though I don't work on a Monday, if there's something I need to do, I can make arrangements to switch days.
And even from home, it's very easy for me to log on to the work system from our computer; it's just like I'm at my desk in the office.
Of course, our business demands that we are focused on serving our clients but I have found the clients have been very understanding about this arrangement.
I really appreciate that I was offered the opportunity to work this way and it seems to be happening in a lot of places. I certainly think it's a good thing and, where it's possible, more people should take it up."

Tracey Lentell is the general manager of Moorebank Sports Club. Her son Hunter is nine months old.

"I am the boss and report to a board of directors. They are seven guys but they understand that I have been able to create a culture in our workplace that can fit the demands of being a new mum.
In the past 4.5 years that I have been there, I have made the workplace family friendly.
I went back to work when Hunter was six weeks old, initially from home and then part-time at the office until he was three months old. I was back on deck full-time after that and it suits me really well.
Often I will go into the office on a Saturday which allows me to have Monday off and mind the baby while his dad goes to work.
The flexibility of our office culture also means if I need to work from home, I can.
I will also bring Hunter into the club if there is no other option and he takes little naps in the boardroom but I don't like to do that a lot.
All of this flexibility is awesome and I only need to put him in childcare three days a week.
My girls in the office will go above and beyond for me because I will allow them freedom.
They are happy that I let them do the things that make their life easier."

Source: Daily Telegraph, saturday, march 3, 2012

Baby (tick). Career (tick). How to have both

ARTICLE FROM COSMO PREGNANCY MAGAZINE

Get smart about your maternity leave rights, childcare options and balancing work and a family with these tips from author Allison Tait

When you’re pregnant and focused entirely on your changing body and the mind-blowing experience that is feeling a baby grow inside you, it’s often hard to imagine life “on the other side”. We know to expect sleepless nights and nappies, and that things will change. But how will work fit in? Even if you’re taking your full quota of maternity leave, chances are you’ll need or want to go back at some point. How will that work for you?

Juggling the demands of children and work can be a rollercoaster for new working mums. But if you start planning and preparing for it as early as possible (even while you’re pregnant), you can create a much smoother ride for you and your family.

Know Your Rights
In January 2010, the Australian Federal Government introduced the right for parents with children under school age to request a flexible work arrangement. If you put in writing a request for a change to your working hours, patterns of work or location, your employer has 21 days to respond – and if they refuse, they must outline “reasonable business grounds” for the refusal. Examples of these could include the financial impact on the employer’s business, or the inability to organise work among existing staff or to recruit a part-time replacement employee. (You’ll find full details, as well as steps you can take if you get a refusal, at fairwork.gov.au).

This sounds great in theory, but can be more difficult in practice. How do you ask? What do you ask for? (Remember that flexible working arrangements cover anything from reduced hours to working from home or changing your start and finish times). And what can you say to give yourself the best possible chance of your employer granting your request?

Emma Walsh, founder of mums@work (www.mumsatwork.com.au), believes it’s all in the planning and preparation. “They key to success is to put the work in upfront,” she says. “You need to propose a solution to how your flexible working arrangement will work, and not expect your employer to work it out for you.”

This means reviewing your job, working out your core responsibilities and thinking about how you can meet the requirements of the job while maintaining your own interest in it. Consider available technology so you can work remotely, or job sharing with someone else. “Think outside the square about how you could do it differently,” says Walsh. Once you’ve done that, put a business plan together. Show your employer exactly what you are proposing, with clear bottom-line reasons about why it won’t be a bad thing for him or her.

“Have different scenarios and information in front of you when you speak to your boss or manager,” says Penny Webb, founder of Working Mums Masterclass (www.workingmumsmasterclass.com.au). “Be upfront about your own value to the company.” Communicate that you have a legitimate right to work flexibly, outline how your role will function with your proposed flexible work arrangement, and be proactive in showing how it will work. It’s important to reinforce your skills and attributes, as well as any key goals you’ve achieved.

It’s also a great idea to offer a three-month trial period to state how you intend to measure the success of your new working arrangement.

If you work for a small business, it’s important to plan ahead and speak to your manager or employer as soon as possible – allow yourself and your workplace the chance to get used to your pregnancy and then, about two months before you go on parental leave, start the conversation with your manager. Plan for different scenarios and be prepared to think laterally.

The best-laid plans
Walsh recommends preparing a trial period for flexible working arrangements. “Don’t try to set up something that’s carved in stone,” she says. “The reality is that things will change – children grow up, your needs fluctuate and childcare arrangements change accordingly.”

Lisa, 45, understands that when it comes to being a parent and having a career, things change. Working in middle management for a large bank, with her career on the fast track, she unexpectedly fell pregnant with her first child, Will, now 11. “I told work I’d be back in three months,” she says. “I was climbing the ladder and didn’t want the baby to get in the way of my career... Then I had the baby, and I couldn’t leave him.”

She extended her maternity leave to 12 months, after initially trying to do some work from home. “Even after that, it wasn’t working,” she says. “So I resigned.” After the birth of her second baby, Rafe, now 8, three years later, Lisa got back in touch with her manager. “I approached them about returning to work,” she says. “They had a position vacant and I went back. I think the key was the good relationship I had with them. It was about asking, being capable, knowing my worth and maintaining contacts and networks.”

While it’s tempting to treat your maternity leave as a total break from work, the key to eventually transitioning back into the workforce, be it after 12 months maternity leave or longer, is staying in touch. Keep yourself on email lists so you are constantly updated on what’s going on, visit the office – or at least have coffee with colleagues on a semi-regular basis – keep up to date with your contacts, attend industry nights or work drinks occasionally. “I always kept my connections while I was on maternity leave,” says Lisa. “Not always through management, but with colleagues.”

If, like Lisa, you find yourself on maternity leave feeling completely different about returning to work – either full-time, or part-time – make sure you let your employer know as soon as possible (and no later than four weeks before your intended return date).

“Don’t mull it over forever,” says Webb. “Be upfront and honest. It gives you, and them, more time to come up with a solution.”

If, after you’ve had your baby, you change your mind about returning to work full-time and wish to request some flexibility with your position, remember that preparation is vital during those maternity leave months. And if your employer indicates that your role is full-time only, it’s better to know sooner rather than later so you can consider all of your options. These include speaking to your HR department, if your company has one, along with utilising all of your networks to find a role that does suit you and your baby.

Remember, though, that the best flexible jobs are created, not advertised. Start thinking ahead about how to fashion your ideal job out of the role you now have.

Your maternity-leave entitlements
The Paid Parental Leave scheme introduced by the Australian Government provides up to 18 weeks pay at the national minimum wage ($589.40 a week before tax), for working parents of children born or adopted after January 1, 2011. It can be received before, after, or at the same time as existing entitlements such as annual leave, long-service leave or employer-funded paid parental leave.

Contact your HR Department or manager for details of your organisation’s parental leave entitlements.

You must give written notice to your employer at least 10 weeks before you intend to start parental leave and tell them the start and end dates. Employers have the right to request evidence, such as a medical certificate or statutory declaration, of the expected date of birth or date of adoption.

All employees are eligible for unpaid parental leave if they have completed at least 12 months continuous service. Upon returning to work, an employee is entitled to her pre-parental leave position or an equivalent available position. If your company offers its own paid parental leave, check whether there is a contracted period of time for which you must stay with the company on your return.

If you intend to have another child, the same rules apply with Government parental leave, but check with your HR Department regarding when you will be eligible again for employer-funded parental leave. For more information, visit fairwork.gov.au.

Thinking Ahead
Kim, 35, was working for a small, family-run real-estate agency when she became pregnant with her second child, Charlie, now two. “I was a casual, even though I worked full-time, and so had no company-funded maternity leave owing,” she says.

“When I found out I was pregnant, I began to shift my role away from holiday property management towards something I could do from home. They were building a new website, so I took on the project management of that. My background was in marketing, so it was a natural progression for me.”

By shifting her role, Kim set herself up to be able to continue to work from home once her son was born. “Within a week of having Charlie, I was working a few hours a week from home, and then built it up from there,” she says.

When she initially broached the subject with her employer, they were hesitant. “It wasn’t something they’d ever done before,” she says. “But I showed them how it could work and they were happy with what I’d done to that point, so they thought about it and agreed. If I hadn’t brought it up with them, it would never have happened.”

COSMOPOLITAN PREGNANCY MAGAZINE - AUTUMN 2012

Returning mums offered on-site childcare

A Melbourne company has proven just how far it is willing to go when it comes to retaining returning parents in their workforce – it built its own $5m on-site childcare centre.

Keeping women on staff after they return from having children can be a challenge – childcare costs can be as high as $135 per day. When medical supplies company CSL found their retention rates for returning parents were less than 50%, it took drastic action and decided to build a childcare facility on its own premises.

“We invest in them when they work for us, and we want to have the benefit of their training and education. We don't want to have the disruption to the traditional female career that often happens. So this is our way of I think trying to address that,” Brian McNamee from CSL said.

While $5m is a hefty investment, and most HR teams won’t have the option of building a child-care centre as some universities, law firms and schools have been able to do, there are other strategies HR can leverage to drive better retention rates among returning mothers.

Law firm Freehills put together a checklist on navigating parental leave, and from the time the parental leave notice is received employers may:

• Check employees eligibility for leave against the company’s parental leave policy and flexible work policy (if any). Will the employee have been continuously employed with the company for 12 months prior to the birth of the child in either a full-time, part-time, or long-term-casual role?
• Meet with the pregnant employee and discuss their leave plans. Make sure the employee is aware of formal notice requirements.
• Check if the employee wants to keep the pregnancy confidential or is happy for it to be more generally known.
• Discuss and make any work adjustments needed to ensure health and safety during pregnancy.
• Complete a performance review of the employee before they take parental leave, to assist with salary reviews during the leave and avoid discrimination risks.
• Ten weeks before leave, check the employee has provided written notice of her intention to start parental leave, including start and end dates.
• Four weeks before leave, check the employee has confirmed the intended dates in writing.
• Arrange a time to meet with the employee to plan the upcoming leave and to discuss how you’ll stay in touch.
• Notify any replacement employee that their employment is temporary and that the pregnant employee has the right to return to their position.
• Maintain contact with the employee, as agreed, for the duration of the leave.
• At least four weeks before the employee’s return to work, check in with the employee about their plans to return to work.
• Ensure you get in contact with the employee if there are any significant changes to the business or the employee’s job eg a restructure or redundancy.
• If the employee makes a request for extended leave, respond in writing within 21 days.
• Provide the employee with their pre-parental leave role on return from parental leave, or if that position is no longer exists, an available position for which they are qualified and suited.
• Consider what assistance or facilities you can provide to the employee to help them settle back into their work role after a period of extended leave eg. computer skills training, facilities to express milk etc.

 Source: HC mag

Published By www.mumsatwork.com.au