The Changing Nature of the Workforce (L4) Flashcards
What are some significant trends that reflect the changing nature of the workforce?
- Ageing workforce.
- Increasing female participation in paid work and increasing representation in senior roles; The Guardian reports that the no. of women in FTSE 100 boardroom roles is up 39% in a decade.
- More use of flexible working practices.
What is the CIPD Definition of Diversity?
“Diversity is about recognising difference. It’s acknowledging the benefit of having a range of perspectives in decision-making and the workforce being representative of the organisation’s customers.” (CIPD, 2022)
What is the CIPD Definition of Inclusion?
“is where people’s differences are valued and used to enable everyone to thrive at work.” (CIPD, 2022)
What are the two main diversity lenses?
- Physical: differences in values, skills, knowledge, personality.
- Demographic: differences in gender, age, education, cultural background, religion.
What are some key questions regarding diversity to think about?
- Aren’t we all ‘diverse’?
- Which diversity counts?
- Does cultural diversity affect psychological diversity?
Why is diversity good according to Forbes and McKinsey?
- McKinsey Diversity Report (2020): company boards in the top quartile for diversity are +28% more likely to outperform their peers financially. This is linked to rising female representation, e.g. France average +40% women on boards.
- Forbes (2020): can bring benefits such as greater innovation, producitivity and access to a diverse talent pool.
Why is diversity bad according to Henry and Evans (2007)? Own example?
According to Henry and Evans (2007), diversity in the workplace can increase training costs, increase likelihood of culture clash and prejudice, and mismanagement, which if left alone can have further knock-on effects on the business.
What is the “glass ceiling”?
Women towards the top of a hierarchy face challenges and prejudice in trying to break into senior roles. This is misleading as it implies women only face challenges at the top as opposed to different levels and times in their careers.
Whilst some claim women have equal opportunities, it is evident that their careers are seen as less fruitful vs. males.
The glass ceiling should instead be thought of as a labyrinth where women face many challenges but these must be navigated.
What is the “glass cliff”?
This is where women are hired to board level positions in times of difficulty and when something goes wrong, they are blamed and therefore end up at high risk of losing their position and credibility as a result.
Whare are some changes to family structures?
- Average marriage age increasing.
- Less children later in life.
- Dual-earner couples.
- Increasing use and availability of paternity leave.
What is the CIPD definition of equality?
Equality means equal rights and opportunities are afforded to all.
What is equity according to the CIPD?
Equity recognises that treating everyone equally has shortcomings when the playing field is not level, and emphasises that people should be treated based on their needs.
What are some of the key changes affecting older workers?
- Retirement is no longer compulsory due to law change; perhaps beneficial given that to retire, £10,900 post-tax annual income is required to maintain a minimum SoL according to Loughborough University, published by BBC (2011).
A concern is that state pension age increase is currently under review by the government, meaning older workers are left without pension until later.
What are some key stats regarding older workers demographic in the UK?
- Defined as 50+.
- Now form roughly a third of the workforce, increasing YoY.
- Greater proportion of 50-64 year olds in work vs. 16-24 year olds.
- According to UNISON (2013), the average working age is increasing. Companies must pay heed to the implications of the employment of older people, such as stress, health and safety, and cognitive performance.
What benefits are associated with employing older workers?
- Broader skillset and experience.
- Able to mentor and train.
- Equally responsive to training as younger workers.
- McDonald’s reports 20% higher performance where 60+ workers are employed.