The Importance of Diversity Education in the Workplace: A Workshop for Virginia Tech Faculty and Staff Dan Lasik, Partner

Agenda for the day

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Why diversity and inclusiveness is important

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Perspectives from Virginia Tech alumni

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How you can make an impact

The global business environment

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Global Trends

: ► ► ► ► ► Increased sophistication of global markets Outsourcing/Offshoring Impact of US Regulations Convergence of accounting standards Shift in demographics ►

Our clients are global

► ► ► ► Domestic companies with operations abroad Foreign companies with domestic operations Investors have a global focus Cross border capital flows

Why diversity and inclusiveness is important to Ernst & Young.

Americas

People: 41,500+ Revenue: $10 billion

Japan

People: 7,000+ Revenue:$1 billion

EMEIA

People: 68,000+ Revenue:$11 billion

Asia Pac

People: 27,000+ Revenue:$2billion

Driving seamless, consistent, high-quality client service worldwide

Ernst & Young’s Transformational Priorities

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Diversity and inclusiveness

. We must be the clear leader in diversity and inclusiveness in order to recruit the best talent, develop our people to their full potential and team effectively.

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Global mindset and integration

. We must extend our leadership in global integration and mindset in response to clients' desires for seamless global service, and the shift of capital from West to East and from developed to emerging markets .

Diversity & Inclusiveness at EY

DIVERSITY

Mix of our people

Visible and invisible differences, thinking style, leadership style, gender, ethnicity, religious background, sexual orientation, age, experience, culture etc.

A quality of the organizational environment that maximizes and leverages the diverse talents, backgrounds and perspectives of all employees INCLUSIVENESS

Leveraging the mix

Driving our Inclusiveness Recruiting Strategy: From high school to high performing EY staff and seniors Student Pathways to EY Attract high school students to priority schools Influence freshman to choose Accounting /Business as a major Offer early exposure opportunities within EY Encourage and support MSA/MST degrees High Performing Staff and Seniors Execute on Campus Students Accounting & Business Awareness Programs NEW: Ernst & Young’s Launch Program Emerging Leaders Summit Discover Tax Horizon Internship Supporting Master’s Degrees at Priority Schools National Conferences Howard University Leadership Program Build Pipeline/ Systemic Change University Employer Branding Inclusiveness Visits Faculty Diversity and Inclusiveness Roundtable Faculty Inclusiveness Award NEW: Thought Leadership: Inclusive Business Schools

Our Expectations…

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Universities

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Recruits

Perspectives from Virginia Tech Alumni

► Ashley Perry ’11, Assurance Staff, Richmond ► Andre Crawford, Transfer Pricing Manager, Detroit

Making an impact

► Share with you a glimpse of the learning experience that all of our partners and senior managers have attended ► Provide you with a few resources

“Frames of Reference”

Our individual “system of meaning”:

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How we perceive, evaluate, and relate in a social context

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Biases and preferences we apply in our interactions based on visible and invisible cues

Factors influencing our Frames of Reference Age Sex Physical & Mental Qualities Sexual Orientation Skin Color Personality Etc.

Gender Identity Socio

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Economic Status Ethnicity/Race Regional Culture Disability Religion Generation Etc.

Life Experiences Education Professional Training Work Background Marital Status Parental Status Lifestyle Etc.

Biological Social/Cultural Individual

Example: The ladder of inference

Frame of reference in action

Jane may not feel comfortable in a Big 4 environment Jane is a junior and should speak up to contribute Take actions Adopt beliefs Draw conclusions Make assumptions Add meanings Select data Jane would not be a strong candidate for Big 4 internship Jane knows the content yet is not assertive enough to speak up during class Observable data Ladder of Inference, Source:

The Fifth Discipline Fieldbook

by Peter Senge

Frame of Reference Jane speaks once during classroom seminar

Example: Change the frame of reference

Jane is a strong candidate for a Big 4 internship Jane made a very insightful comment on the issue Take actions Adopt beliefs Draw conclusions Make assumptions Jane would be successful in a Big 4 environment Jane’s technical skills would be valued on an engagement team Add meanings Select data Observable data Frame of Reference Jane speaks once during classroom seminar Ladder of Inference, Source:

The Fifth Discipline Fieldbook

by Peter Senge

Insider-Outsider dynamics

Insiders

► Have the formal and/or informal power ► Set expectations and reinforce and reward ► Have the most to gain from the maintenance standards

Outsiders

► Have little or no power ► Expected to adhere to the dominant standards ► Are put at a disadvantage

Depending on the situation and circumstances, each of us can be either an insider and outsider .

Resources:

► Is your business school environment inclusive?

► Building a global mindset.

► Global and Inclusive leaders.