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Renee Anderson, presentation on the Female Talent Pipeline at the 5th Annual Global Diversity Seminar Barcelona
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Novartis Pharma: Building the Female Leadership Pipeline
Renee Anderson, VP, Global Head of Diversity and Inclusion February 24, 2012
Legal Disclaimer
No business or legal conclusions can be derived from the simple existence of a statistical disparity between a particular company’s employment of legally
“special” or “protected” groups, such as women and minorities, in managerial and professional positions and their representation in the local population. Many factors, largely beyond such company’s control, such as cultural
inhibitors, educational opportunities and other market conditions could explain such differences. Accordingly, it is essential that global, aggregated data, such as that represented by the attached, be used only for the general, background
information of senior managers charged with evaluating the Diversity and Inclusion Initiative at Novartis. In particular, all hiring, promotion, training,
development and other employment-related decisions related to the initiative must continue to be made by the local Novartis business entities based on the specific legal system applicable to them and other overriding local principles
applicable to the markets in which these companies operate.
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Building the Female Leadership Pipeline
Business reasons for change
Identifying female talent opportunities at Novartis
Exploring a comprehensive approach to increasing women at senior levels
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Business Reasons for Change
• Women drive a majority of healthcare decision-making1
- According to a study from the Boston Consulting Group, women “control $12 trillion of the overall $18.4 trillion in global consumer spending.“2
• Increase of women in workforce – in both developed and growth markets - In 2010, 50.6% of all health professionals were women3
• Strategic importance of hypergrowth in EGM countries – esp. Russia and China - Ensure talent management & sourcing address needs of diverse talent
pool
• Aging workforce – esp. US, Japan, Russia, Western Europe – declining birth rates leads to fewer people entering the workforce to replace retirees
• Increasingly diverse workforce – large availability of talent especially from China, India, US - Need for Organizational Development and change management
practices to support business mentality shift, cultural changes, M&As
1. Source: Kaiser Family Foundation 2. Boston Consulting Group press release 3. National Statistics, "Labour Force Survey: Employment Status by Occupation and Sex," April-June 2010 (2010).
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„20first“ Global Gender Balance Scorecard
Top 100 Companies 2011 Survey: % of companies with at least 2 women on their Boards 74% US 68% Europe 9% Asia
Source:
By Region: % of Executive Committee Members
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Catalyst* shows - Women's Leadership Still Stalled
Women held 16.1% of board seats in 2011, compared to 15.7% in 2010.
Less than one-fifth of companies had 25% or more women board directors.
About one in ten companies had no women serving on their boards.
Women held 14.1% of Executive Officer positions in 2011, compared to 14.4% in 2010.
Women held only 7.5% of Executive Officer top-earner positions in 2011, while men accounted for 92.5% of top earners.
Less than one in five companies had 25% or more women Executive Officers and more than one-quarter had zero.
Women have made no significant gains in the last year and are no further along the corporate ladder than they were six years ago:
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*leading nonprofit membership organization expanding opportunities for women and business
Talent development needs to start early
Tracking of more than 4,100 MBA students who graduated between 1996 and 2007 from elite MBA programs around the world revealed:
Women continue to lag behind men at every single career stage, right from their first professional jobs.
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Source: Catalyst Research
Female Executive Talent: Improves overall financial performance
8
Catalyst’s data demonstrates the value of female executive talent
Return on Sales 16% better performance Return on Invested Capital 26% better performance
Source: Catalyst Research Reports, Authors: Nancy M. Carter, Ph.D., and Harvey M. Wagner, Ph.D. Published: March 2011
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Female Executive Talent: Improves overall financial performance
9
Financial Performance at Companies with Three or More Women Board Directors (WBD) vs. those with Zero WBD
Return on Sales 84% better performance Return on Invested Capital 60% better performance Return on Equity 46% better performance
Source: Source: Catalyst Research Reports, Authors: Nancy M. Carter, Ph.D., and Harvey M. Wagner, Ph.D. Published: March 2011
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Building the Female Leadership Pipeline
Business Reason for Change
Identifying female talent opportunities at Novartis
Exploring a comprehensive approach to increasing women at senior levels
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Leading market position
One of 35 largest companies by market capitalization
Among most respected companies globally
Novartis is a world-leading healthcare company
2011 USD billion
Net sales: 58.5
Net income: 9.2
R&D investment: 9.2
Key figures
37%
33%
21%
9%
Canada/ Latin America
US
Europe Asia/Africa/ Australasia
Sales by region – 2011
Novartis - our focus is on patients
Our purpose is to care and cure.
More than 1.1 billion patients around the world were protected or treated by Novartis products in 2011
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2012 Novartis Pharma D&I Strategic Vision
We aspire to become the world's leading healthcare company by acting inclusively and leveraging our
diversity to create the best outcomes for our patients and customers.
Integrate D&I into business planning
process, commercial and development
strategies
Build Leadership pipeline that reflects
diversity of the workforce and the
markets in which we operate
Foster greater understanding of the business value of Life
Work Integration policies and practices
Embed inclusive behaviors
Pharma D&I Vision
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Building the Female Leadership Pipeline
Business Reason for Change
Identifying female talent opportunities at Novartis
Exploring a comprehensive approach to increasing women at senior levels
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Build leadership pipeline that reflects the diversity of the workforce and the markets in which we operate
Comprehensive approach to increase female representation at senior levels*
D&I metrics Female Talent
Aspirational Goal: Global D&I Scorecard: 5 year aspirational goal to increase female representation in leadership positions Rigorous D&I Diagnosis*: Yearly Statistical D&I Analysis and tracking of Organizational gender composition/growth
Embedding D&I in HR Processes
Recruitment: “Relationship-driven” talent cultivation for top female talent Talking talent and Talent Review Sessions: Talent conversations with diversity agenda Talent Retention: Tracking of career progression of top female talents.
Mentoring Programs
Formal and informal mentoring programs
Targeted Leadership
Development Programs Launch of Executive
Female Leadership Program Leveraging Early Talent Programs to identify and nurture female talent
Building Community:
Inclusive environment
Networking events, Inclusive Leadership Training, Unconscious Bias Training
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*In compliance with and to the extend permitted by local legal requirements. Employment decisions occur at local level in accordance with local law.
Other key success factors to increase women at senior levels
Going beyond mentoring to Sponsorship – having a sponsor to lobby for female managers, and consistently track progress
The need for more senior level role models Accountability – setting targets and making sure senior leaders
are held accountable to achieve targets Creating greater awareness of unconscious bias through
education Alignment of D&I concepts in training programs – Talent
Development/Management, Leadership Development programs.
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Executive Female Leadership Program
Year long program to assess, develop and track high caliber females for senior leadership roles
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To assure: • their visibility to senior management • increased dialogue with their direct managers about their
development and career planning • on-the-job development • personal support through mentoring and coaching • high involvement of Senior Management to become sponsors
Cascading the Program
Pharma CEO is the lead sponsor for the program and continues to actively promote and input to the program
Communications are on-going with D&I Council and other D&I organizations within Novartis to cascade and share learnings to other parts of Pharma
Successful program graduates to this initial program will be used as ‘sustainers’, e.g. to mentor, work as a graduate network etc. to continue their learning and embed the program deeper and more long-term in the organization
EFLP has engendered a lot of interest across Novartis Pharma globally. We are proactively managing and supporting this in various
ways -
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Key success factors :
• Comprehensive approach is needed
• Importance of sponsorship
• Career progression tracked by Talent Management
• Establishment of ‘alumni community’
• Accountability – managers are kept informed with clear expectations set by Pharma CEO
• Establishment of fixed scorecard and goals with key metrics to increase female representation in leadership positions
Building the female leadership pipeline at Novartis
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