COVID-19 has not only accelerated dramatic shifts within the healthcare industry, but it has also become a catalyst for change in workforce strategies. In this special report, McDermott Partner Michael Peregrine offers perspective about key trends and priorities for the human capital committee to consider as it plans for the upcoming year and beyond.
While a recent McKinsey and LeanIn.org women and the workplace study pointed to positive gains for women in corporate leadership roles in 2020, women continue to face substantial burdens in their careers. According to this Forbes article, McDermott Partner Michael Peregrine says such burdens pose a “significant threat to the economic and cultural health of an organization.” These burdens include hierarchical validation, burnout, and significant bias and discrimination for women of color.
“Ideally, boards can use the 2020 progress as evidence that their leadership on gender equity can—and does—make a difference,” Peregrine notes.
What are the impacts of a multigenerational workforce, and how do you best bridge generational differences in the workplace?
In this Chicago Lawyer Magazine article, McDermott Partner Tina Martini suggests that multiple generations of employees can have varying ideas about how to approach issues, as well as having distinct points of view.
“There can be adverse consequences in not having different generations represented, including the potential for it to negatively impact your ability to recruit and retain top talent,” Martini notes.
What questions should a governing board’s executive compensation committee ask itself?
According to this August 2021 e-book edited by McDermott Partner Michael Peregrine, committee members should regularly ask themselves questions about executive benefit programs, executive compensation programs, performance priorities and leadership development programs.
Todd Solomon urged employers to “get past” a reluctance to deal with transgender employee concerns and “press the issue in order to create a comfortable and inclusive environment” in the workplace. “Support for LGBT employees must come from the top down in order to be effective, and it has to be evidenced by concrete actions in addition to mere words,” Mr. Solomon stated.
Originally published in The SHRM Blog (Society for Human Resource Management), March 26, 2018.
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