Why diversity leads to better business | Pentagon official attributes his success to Hispanic heritage | Former BP CEO explains why coming out at work is good for business
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October 8, 2014
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AICPA to lead profession in addressing diversity gap
Financial Accounting Foundation President and CEO Teresa Polley lauds the growth of the accounting profession, which more than doubled between 1973 and 2013, but laments the fact that this growth does not reflect the diversity of the U.S. population. To help redress the imbalance, the Pipeline Working Group was created by Howard University's Center for Accounting Education to develop a professionwide initiative to diversify the talent pipeline and promote accounting. The AICPA has committed funding to and will lead the way in implementing several of these programs. Financial Accounting Foundation (9/30)
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Leadership & Trends
Why diversity leads to better business
Research suggests that having people from different backgrounds is key for unlocking the innovative potential of a business, writes Katherine Phillips, a professor and senior vice dean at the Columbia Business School. ScientificAmerican.com (9/16)
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Pentagon official attributes his success to Hispanic heritage
James Rodriguez, the deputy assistant secretary of defense for warrior care policy, credits his success to values instilled in him as part of his Hispanic heritage. Rodriguez, a retired Marine Corps first sergeant, said the values of community and service before self were aspects of his upbringing as a Mexican-American that translated into a successful military career. Hispanic Business (9/29)
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Other News
Recruiting & Retention
More women hold leadership roles, but few are on the CEO track
A Credit Suisse study that tracked the gender composition of about 28,000 executives at 3,000 companies in 40 countries and compared that data to financial results found a link between companies with more female executives and better financial results. The study showed that women hold 12.9% of senior management positions and about the same percentage of board seats. The report also suggests that many women will struggle to move up into CEO-level positions. That's because women are better-represented in non-operational roles. "In a shorter time frame, it is easier to improve the level of gender diversity in boards. ... It is a lot more difficult to change the composition of top management overnight," says Stefano Natella of Credit Suisse. The Washington Post (tiered subscription model)/On Leadership blog (9/24), Fortune (9/24), CFO.com (9/29)
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Google launches effort to diversify its workforce
Seven out of every 10 Google employees are male, and there are three women among the company's 36 executives and top-ranking managers. Blacks and Hispanics are also underrepresented, and the company says that it plans to make a long-term effort to diversify its workforce. It has instituted diversity-training workshops in an effort to address and correct unconscious cultural biases. The New York Times (tiered subscription model) (9/24)
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How to deal with mental illness in the workplace
Untreated mental illness in the workplace costs U.S. employers as much as $100 billion each year, according to the National Business Group on Health. Early detection and treatment of mental illness can reduce risks to employers and lower their health care costs, HR experts say. HR Magazine (10/2014)
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Policy & Regulatory
Transgender discrimination is subject of EEOC suit
The Equal Employment Opportunity Commission has filed a lawsuit against two companies alleging discrimination against transgender employees, a first for the agency. The suits charge that the companies violated Title VII of the Civil Rights Act of 1964 by firing the employees after they announced that they were transitioning from male to female or began to present as women. Politico (9/26), MLive.com (Michigan) (free registration) (9/26)
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SEC chair urges company boards to seat more women
Companies must work harder to identify and promote women to serve on corporate boards and shareholders should make it known that board diversity is a priority, Securities and Exchange Commission Chair Mary Jo White said in a speech last month. Bloomberg BNA (free content) (9/19)
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Here & There
Groups want more diversity on NFL domestic-violence panel
Members of the Black Women's Roundtable have questioned the diversity of a National Football League domestic-violence advisory board, and will meet with NFL executives to urge them to add black female experts to the panel. The group also wants to meet with NFL Commissioner Roger Goodell. The Washington Post (tiered subscription model)/She The People blog (9/30)
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AICPA Diversity & Inclusion News
AICPA celebrates National Disability Employment Awareness Month
During the month of October the AICPA recognizes National Disability Employment Awareness Month, which is a month-long recognition of the societal and workforce contributions of people with disabilities. Join us as we celebrate our total workforce and their value to the success of our diverse and multicultural workplace.
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Diversity Quote of the Month
Seeking diversity automatically leads us to excellence, just as focusing on excellence inevitably leads us to diversity."
-- William C. Steere,
Former chairman and CEO of Pfizer
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About the AICPA
The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 400,000 members in 145 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA is committed to diversity and inclusion in the accounting profession with the development of programs to increase the student pipeline and tools and resources to retain and advance ethnically diverse professionals.
About the AICPA National Commission on Diversity and Inclusion
The AICPA National Commission on Diversity and Inclusion was formed to serve as champions within the accounting profession and to work toward proposing strategies to recruit, retain, and advance minorities in the profession. The National Commission on Diversity and Inclusion has set a new course to address best practices and develop tools to help members and firms succeed in their diversity and inclusion efforts.
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