According to the U.S. Census Bureau, minority groups will comprise over 50 percent of the U.S. population by 2044. Additionally, the definition of family continues to evolve. Companies actively promoting an inclusive culture will be more attractive to the shrinking candidate pool. For this reason, Southwire maintains our strong commitment to promoting a culture of inclusivity for diverse individuals.
In 2015, we conducted an Executive Development workshop on the changing demographics across the globe and specifically in America, based on the work of Paul Taylor. According to Pew Research:
Diversity expands beyond physical characteristics to include diversity of thought and perspective, which cultivates a more innovative and creative environment. At Southwire, we believe an inclusive culture enables talent to flourish and encourages our employees to reach their highest potential. We believe that if we strive for inclusion, diversity will naturally follow. Weaving employees into our community regardless of their background demonstrates to all potential candidates that they have a home at Southwire. Simply stated, Southwire wants employees to feel empowered, see diversity and experience inclusivity.
“Demographic transformations are dramas in slow motion and America is in the midst of two right now. Our population is becoming majority non-white at the same time a record share is going gray. Each of these shifts would by itself be the defining demographic story of its era. The fact that both are unfolding simultaneously has generated big generation gaps that will put stress on our politics, families, pocketbooks, entitlement programs and social cohesion.”
Southwire continues to develop and deploy tools and resources to connect employees with new perspectives. Whether the program is relatively young, such as the Southwire Women’s Network, or mature, such as Sounding Board, which connects employees with executive management, the programs span a wide spectrum for greater impact.
Data Monitoring and Reporting
We report diversity measurements along with national benchmarks quarterly to Southwire’s board of directors and senior leadership. To objectively determine the inclusivity of Southwire’s culture, we track a variety of metrics.
- Our employee engagement survey, which measures the Southwire employee experience, enables us to track inclusion. For example, we ascertain whether there are differences in how various demographics respond to the questions and whether the experience aligns with Southwire’s values.
- Our quarterly Human Capital Dashboard measures average years of service, percentage of female employees, average age, percentage of minorities, biometric grades and turnover of high potential employees.
Looking ahead, Southwire aims to increase inclusion in various ways. In 2014, we developed the following inclusion goals:
|Goals||2014 Baseline||2015 Performance|
|Achieve a 40% improvement in the number of females in the workforce by year-end 2017||21% female||22% female (5% improvement)|
|Improve diversity within the “high potential” pool of future senior leadership by 20% by year-end 2017||30% of High Potentials||30% diversity (0% improvement)|