The Future is Women

September 2018

www.pwc.comStrictly private and confidential

The Future of Work:

The Future is WomenSeptember 2018

www.pwc.comStrictly private and confidential

Millennial Women Are Poised To Be The Most Financially Independent Women In History Forbes Sept 9, 2018

Confidential information for the sole benefit and use of PwC’s client.4

United Nations Sustainable Development Goals17 goals to transform our world

Future of Women in the Workforce Reimagined in the Digital AgeWe know that companies are far more successful when they leverage diverstalent by 19% higher revenues, 10% higher EBIT margins and 9% higher innovation HBRJan 2018

Companies where women make up at least 15% of senior managers had more than 50% higher profitability than those where female representation was less than 10%.

Source: Credit Suisse Research Institute, The CS Gender 3000: The Reward for Change

The Impact of Digital Technologies

Confidential information for the sole benefit and use of PwC’s client.8

Women by the numbersChanging numbers in key areas

34

36

38

40

42

44

46

Percentage of Females in the Labour Force (Singapore)

• Nearly 7,000 women leaders, aspiring candidates and elected public officials trained in 32 countries

• In the EU, women have filled 6m of the 8m new jobs created since 2000

• 43 countries increased budget allocations for gender equality and women’s empowerment since 2014

Equal rightsRise of service and decline of manufacturing

Rise of the feminist

movementEconomic necessity

Confidential information for the sole benefit and use of PwC’s client.9

Why are more women joining the workforce?Major trends resulting in more women participating in the labour forceThe economic empowerment of women across the rich world is one of the most remarkable revolutions of the past 50 years

Increased access to higher education

Confidential information for the sole benefit and use of PwC’s client.10

Effects of women in the workforceImpacts on economies and society

Leading UK insurance companyHR Transformation and complete HCM implementation

Client Context

The client neededto separate from its parent company within a tight timeline to meet with FSA guidelines (for IPO floatation). Failure to achieve a standalone HR function by June 2012 and therefore successful HR separation would have risked the derailment of our client’s IPO.Our approach

PwC led the creation of a new HR function including; a new operating model, 7 new best of breed SaaS HR systems, a new process framework, a new shared service centre and transferred 15,000 employees onto new terms and conditions

We provided overall programme leadership, on the ground resources, as well as SMEs from across our HR Management practice supporting the client in finding the right balance between best-in-class and fit-for-purpose HR practices

Deployment of Workday HCM as core HR system of record. Workday modules included: Human Capital Management, compensation management, benefits management, absence management, reports, payroll interface configurations, talent, merit, performance management and integrations to other HR systems

Benefits

Major Economic Changes:

• Increased Gross Domestic Product

• Increased purchasing power of women

• Increased of women-owned businesses

• Increased stress levels and changing roles at work

• Women faced with production vs. reproduction

• Changing how people work and flexibility at the workplace

• Women as beneficiaries of the growing “war for talent”

Resulting impact on society:

Confidential information for the sole benefit and use of PwC’s client.11

The crux of the issue

CollaborationCompany Policies

InnovationCompany Structures

Confidential information for the sole benefit and use of PwC’s client.12

What does this mean for companies?More women than ever in the workforce – changing how things work

Workplace Behaviours

Confidential information for the sole benefit and use of PwC’s client.13

What are leading Organisations doing? Imagining a workforce dominated by women

Vision & Strategy Leadership Governance Measurement

Reframe the conversationDefine diversity broadly and

inclusion preciously and ensure Leaders and employees have a

shared frame of reference

Assess inclusive capabilityAssess the inclusive capability of leaders, using robust framework to identify individual and group

strengths and development areas

Re-invent the CouncilHave the CEO Chair the D&I

Council, and include Executive members, External Advisors and other influential change agents to drive accountability and change.

Use People AnalyticsGet under the numbers using

People analytics to understand the current state, including root

causes, and to help inspire change.

Tell a compelling storyCreate an authentic and

engaging story for D&I, including its link to business strategy, what

success looks like and which addresses potential resistance.

Strengthen leadership shadowBuild awareness of and capability in, inclusive leadership – beyond

just unconscious bias.

Appoint a D&I Lead with influence

Elevate the Head of Diversity role to a senior leadership position, and appoint an influential lead with the ability to form strong

relationships

Publicize TargetsSet and publicly announce D&I

targets an progress as a statement if serious intent and to communicate commitment across

key stakeholder groups

Think global, act localAdopt a ‘think global, act local’

approach to strategy, identifying areas of commonality across

regions

Ensure targets have teethEnsure D&I targets are tied to

rewards, just like other business priorities.

Transition ERG’sTransition Employee Resource

Groups from purely social networks

Implement Plus One initiativesBreak entrenched patterns by

business simple commitment to engage managers to add at least

one women in their teams, as roles arise.

Confidential information for the sole benefit and use of PwC’s client.14

What does this mean for companies?Imagining a workforce dominated by women

SCIENCE & ENGINEERING

FINANCE

TECHNOLOGY

More than workersWomen in Leadership

Ann Sherry, former CEO – Carnival AustraliaBlind shortlisting and inclusive approaches01

• "By removing the name and gender from job applications, the ratio of men to women being short-listed has jumped from one woman in 10 to fifty-fifty.“

• An inclusive approach led to profit turnaround for Carnival

• Introduced male Champions of Change in STEM

Maya Hari, Managing Director APAC – TwitterHelping women in tech02

• “There are decisions that require a different approach from leadership, for example, in actively hiring for a diverse workforce.”

• Leads the @TwitterWomen team in Asia Pacific to connect women and focus on empowerment

• Developed management strategies geared toward women

Thank you