Other parts of this series:
- Training a Multi-generational Workforce & How AI Can Refine Employee Performance – Talent & Organization Weekly News Update
- Insurers Rely More on the External Workforce & What Young Financial Advisors Want – Talent & Organization Weekly News Update
- Helping the Underserved Can Help Banks Retain Top Talent, and the Gig Economy is Good for the Planet – Talent & Organization Weekly News Update
- For Success in Change, Emphasize Continuity & How Great Leaders Get Things Done – Talent & Organization Weekly News Update
- Gender Equality at the Top & Millennials in Insurance Love It – Talent & Organization Weekly News Update
Here are the top news stories in talent & organization from this week.
Drop in female CEOs causes stir
Earlier this month, The New York Times noted that the number of women running the top publicly traded companies is going down, not up, and suggested this should “raise all sorts of soul searching about what’s happening in corporate America.” CNN Money followed with “Female CEOs are rare. Two in a row is almost unheard of.” According to Kristin Rowe-Finkbeiner, executive director of MomsRising, these news articles should raise a red flag. “A 25 percent decrease (in women who are CEOs of Fortune 500 companies) is a big blow, especially considering how hard it is to even get into a room that might have a glass ceiling in the first place,” she wrote in an opinion piece for CNN. The glass ceiling is still solid for women, argues Rowe-Finkbeiner, who make up only 5 percent of CEOs and 21 percent of senior VPs in Fortune 500 companies. “All of this must change. And that change starts with you: Not everyone can apply to be CEO, but we can all use our buying power to support corporations that are reaching toward equity,” she writes. “Use your voice, your money, and your vote to break through that bulletproof glass ceiling. Let’s make it rain glass.”
Millennials see insurance industry as a ‘well-kept secret’
According to participants of a roundtable on millennials in insurance, the industry has a hard time replacing its retiring workers because the younger generation doesn’t know how exciting it is, Insurance Journal reports. “Insurance is kind of a well-kept secret. It’s just not something that is run-of-the-mill conversation, but it is a very exciting industry,” one participant told IJ. Another explained how it was an unlikely career path for her. “Going through college, my whole life, I wanted to be in criminal justice. Then, I decided in my freshman year that maybe I wanted to do business. I ended up really loving insurance. That probably sounds kind of strange to say that you love insurance, but it just hit the right button for me.” The participants told IJ the insurance industry should market itself better at the college level. “If the industry can get out in front of young people at job fairs and things like that, it could explain that there’s a whole world out there if you pull that curtain back,” one suggested. .
EQ is undervalued in the workplace, study finds
A study by Robert Half found that 25 percent of business leaders in the United Kingdom believe emotional intelligence (EQ) is undervalued in the hiring process, according to an article in HR Magazine. The article also cites the findings on the benefits of hiring employees with high EQ: 46 percent of respondents said a primary benefit is increased motivation and morale, 45% cited improved leadership, and 37 percent better collaboration between teams. Matt Weston, UK managing director at Robert Half, told HR Magazine that finding the right balance between skills and personality is crucial for long-term success in today’s competitive recruitment environment. “Businesses must evaluate what characteristics are required within the team and what skills can be taught.”
The future of work with AI
“The current wave of artificial intelligence (AI) will lead to an autonomous enterprise and before long we won’t be able to imagine doing work any other way,” argues Chuck Hollis in this Forbes BrandVoice blog post. He describes the autonomous enterprise as an organization where many decisions are made with the help of machine learning, resulting in better, faster and higher-quality decisions. Hollis dismisses the concerns about AI making most of the current workforce obsolete. “Spreadsheets didn’t put accountants out of work; it helped them do more work in less time,” he writes. “When we invent better tools, the nature of work—and our lives—usually changes for the better. The same will be true as our organizations start using machine learning wherever human decisions are made, making our organizations more autonomous and vastly better at decision-making in the process.”
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