DE&I Transforming in 2024?

[00:00:00] This week on MurkuramFlex, me and my sisters got to go to Shelly's house.

[00:00:05] CEO's getting paid too much or just right.

[00:00:08] D, E, and I will need to transform in 2024.

[00:00:13] Plus, feels like hybrid work will disappear in 2024.

[00:00:20] TRF with my name Shelly starts right now. all the time. The girls quite enjoyed it. I don't know how long we stayed, but they couldn't stop playing with your boys. It was a pleasure meeting Parker and Chandler for the first time and you did a really good job because they're quite exceptional young men and it was interesting to see. I saw an interesting dynamic. So Parker and Chandler were like kids in the sense that they love

[00:01:42] playing with the girls. They did. I was holding the zero. I couldn't find anything at all that had a countdown. So the are essential for success. So yeah, it caused a little bit of an uproar. This became public and made the news everywhere. My first impression was like, ugh, another tone deaf message from a CEO that doesn't

[00:05:40] know better.

[00:05:41] But if you dig in a little bit employee. It's not a bad thing, but Shelly, what was your overall take on this? Do you know, I think where he lost me was his final statement saying, and I quote, there's not a lot of history of laziness being rewarded with success. So it was a bit, I don't

[00:07:01] know, passive aggressive. It was so unnecessary because, you can't be lazy. You got to work hard. This is how you get ahead, which is not completely inaccurate, but I agree with you the minute that laziness creeps in, you put people's back against the wall, it creates some challenges, right? So we'll see how Wayfair done. So have you ever bought from Wayfair, Shelley? You've seen them, you have.

[00:08:20] For years, and then I stopped

[00:08:22] because of the quality of the products.

[00:08:26] The last two purchases I made, of what a CEO makes and what their employees make keeps getting wider. What I loved though was there was a wonderful story kind of embedded in here about a Canadian CEO who has ensured that there's no more than a 10x difference between his lowest paid employee and what he's

[00:09:40] paid. What's interesting though, of course, is? You see the CEO making 150 times more money than you are, but it's all relative. It's relative in the sense of what people are willing to pay you and what your demand in the market is. And sure, you can go out and hire a cheap CEO. You can hire anyone and pay them 100K if you want to. But are you really getting the best talent? Because when you're

[00:11:03] looking at CEOs, usually these people have options. So yeah, move on. I'm not that hurt by this. Get on them. Yeah. So now on the flip side, when we look back on 2023 surge, there was an awful lot happening in labor disruption as in unions. And I don't know if you remember, of course you remember and one of the things that stood out to me, Shelly, this is specific to Canada when they talk about inflation-adjusted wages. So it wasn't because attracting new, unless you're in high growth mode, is a very expensive 2024. It basically requires reporting measures to prevent child or forced labor with penalties, including fines up to $250,000. Interesting one. This one is talking about new Canadians and new students coming in, reforms affecting

[00:16:24] international students. the government or contractor for the other one is the pay equity reform federally regulated employers with 10 or more employees must publish their pay equity plan by September 3rd, 2024. Amen. I love anything that's pay equity or pay transparency. Let's go to the province really quickly. So none of it, the territory of none of it, which we have never talked to aligns human potential with job needs, allowing you to build high-performance impossible to the average worker, or you struggle with how do you manage and force

[00:20:22] them to fit into the mold that you need them to fit into. Because they can very often be Well, say hello to near-shoring. It's like outsourcing, but closer, and it won't make you pull your hair out. Picture this. Top-notch IT talent from Latin America. Many Latin American IT professionals have strong English language skills and even live in the same time zone. So no more midnight conference calls. Halle here is to have discussions around how we can enhance diversity, equity, and inclusion because fostering diverse and inclusive workplace, like data, has shown that these workplaces are

[00:23:00] actually more successful.

[00:23:01] But let me set the stage.

[00:23:03] The past few years, we've seen it. open the discussion here, Shelly, of how do we change the approach and what has failed. So I did some research and I'm going to give you a couple of things that I think where it failed. So one of the things that critics argue is the lack of standardization. There has been no consistent standards in practice. There's a wide range of approaches.

[00:24:21] It's led to confusion and feel like they belong and part we're going to talk about is skill-based hiring and paid transparency. And that is our solution to a more equitable workforce. And I think these are things that can actually happen. I'm setting the stage for 2024, Shelly. Okay. I'm with you. I'm with you. I have a good news story I want to share.

[00:27:01] Okay. Thank you.

[00:27:02] There was a wonderful report and're calling about, will this thing fit in my room? And what's the proper scale?

[00:28:22] They're using AI to give them scripts on how to help customers that call in as

[00:29:28] feeling like remote work was disappearing. And what this research proved, it wasn't just a feeling, it's true. They reported that in 2022, like 20% of jobs were fully remote. And that number dropped

[00:29:37] to 1% of jobs that are fully remote. So it was a to be like two to zero, three to zero. So I think the hybrids are going to drop. It's going to be a tough year for people that want fully remote jobs. Yes. Shelly, on that note, a couple of things. So we really appreciate our listeners. And we have worked on a listener survey that if you've listened,

[00:31:02] please fill it out.

[00:31:03] They would give us great insights

[00:31:06] on what you think is working and what's not working that works with your ATS. Plus, it's designed by recruiters for recruiters, so you know it works. To learn more and book a demo, visit www.recxt.com, mention the recruitment flex, and get 10% off annual plans. How much do you understand the future of finance?

[00:32:23] I'm Jim Roos, a top 10 banking influencer

[00:32:26] and host of the podcast, Banking Transform,