Phillips 66 breaks into Fortune 500’s top 5 list

Fuel refining and marketing firm Phillips 66 is the newest addition to Fortune 500's prestigious list of leading U.S. companies. The company successfully broke into the most-coveted list, which has been nearly exclusive to the same set of companies that held the top spot since the ranking began.

Phillips 66 ranked fourth among America's biggest companies in terms of total revenues. The company generated $169.6 billion in total revenue and around $4 billion in profit.

Phillips 66 is a member of DiversityWorking. The company not only supports initiatives and advocacies that promote employment diversity; it also implements its own programs to make its workforce more diverse and inclusive.

This newest fete that the company has achieved is a strong proof that fostering workplace diversity yields tremendous benefits for companies and organizations. It does not only boost employee engagement and strengthen employee relationship among employees; it also boosts a company's bottom line, translating in bigger earning and greater productivity.

If you want to learn more about what Phillips 66 is doing to promote employee diversity, click through this link.

You may also read some more exciting articles about workplace diversity at DiversityWorking.com.

Phillips 66 reports strong Q1 earnings

Phillips 66 announced this week that the company's earnings for the first fiscal quarter have more than doubled this year amid the persistently low prices of U.S. shale oil and natural gas.

The company's first quarter earnings jumped from $636 million last year to $1.4 billion this year, according to the report. Phillips 66 Chairman and CEO Greg Garland said this strong growth resulted from favorable refining and chemical margins.

"We also are investing in the continued growth of our business. Our plans for a new natural gas liquids fractionator on the Gulf Coast reinforce our commitment to the American energy landscape and highlight our unique opportunities across the downstream value chain," Garland said.

The company has stakes in 15 refineries. It also operates other businesses including Chevron Phillips and DCP Midstream.

Phillips 66 is one of the companies that support and implement workplace diversity initiatives. As a member of DiversityWorking, Phillips 66 ensures that its employees in all its facilities enjoy equal benefits and privileges in the workplace. Find out more about what Phillips 66 is doing to tout workplace diversity and inclusion by clicking through this link.

What diversity really means

The push for workplace diversity and inclusion has been going on for decades, not just in the U.S. but all across the globe. While most people think that the concept of workplace diversity is chiefly about creating an inclusive workplace for people from different cultural backgrounds, the idea is actually bigger than the issue of race and racial discrimination.

Workplace diversity means recognizing and respecting individual differences. These differences include several dimensions such as race, age, gender, sexual preference, ethnicity, religion, social status and even political beliefs.

But diversity goes way beyond these dimensions. It also means being open to people with different experiences, personalities, communication styles, physical appearance and level of comprehension or learning.

Diversity yields significant benefits to people, businesses and communities. Among many others, diversity allows a person to explore new cultures and backgrounds, which can be essential in his or her personal development. This cultural awareness gives people a deeper level of understanding about the world. It also helps people understand themselves and enables them to relate with others more effectively.

Several factors are important in achieving diversity, not just in the workplace but even in businesses, schools and communities.

The first step to achieving diversity is knowing a person’s traits, both the visible and the invisible. We must be very careful not to pass judgment on a person based on superficial traits such as a person’s clothing or even a person’s hairstyle. Judging others based on their outward traits creates a gap that could prevent people from creating bonds, business relationships or friendships. Thus, it is important that we get to know the person deeper before passing judgment.

After knowing the person, the next step is to welcome him or her into the community. Once we get past the person’s traits, we can freely interact with that person regardless of his or her cultural background, sexual orientation or appearance.

All in all, respect and acceptance are the foundations of diversity. To know more about this topic, visit diversityworking.com and see how U.S. companies and the government work hand in hand in promoting workplace diversity across the country.

Cabela’s Q1 net profit climbs amid gun control debate, opens new Colo. stores

Gun and outdoor gear retailer Cabela’s has reported a significant increase in its net profit during the first fiscal quarter amid the ongoing debate about gun control in the U.S.

According to the company, its total earning jumped by 29% to $802.5 million. The company also registered a 24% increase in same-store sales. Additionally, Cabela’s online and catalog sales jumped to $225.2 million, registering an increase of 18%.

All in all, the company said its total net income for the first fiscal quarter jumped from $28.8 million last year to $49.8 million this year, registering a total increase 73%.

This growth could be a strong indicator that the company’s diversity efforts are paying off.

In fact, the company is about to open two new retail stores in Denver, and the company has begun hiring around 450 people to man these new stores.

“We are looking for employees who will deliver legendary customer service to the thousands of loyal Cabela’s customers across the Colorado Front Range. It’s a unique career opportunity for passionate outdoorsmen and women, as well as anyone else who wants to join a dynamic, growing company,” said Senior Director of Human Resources Chuck Bera.

The stores will go online on Aug. 15.

“The opening of Cabela’s Denver corporate extension is a sign of our tremendous strong recent growth and commitment to expanding our digital platform initiatives,” said Cabela’s Chief Marketing Officer Scott Williams.

As a member of DiversityWorking, Cabela’s is committed to promoting workplace diversity and inclusion in all of its facilities across the U.S. if you want to learn more about the company’s diversity initiatives, visit diversityworking.com.

Microsoft expert encourages firms to hire women execs, engineers

Blaise Aguera y Arcas, a fellow at Microsoft Research, strongly believes that women will dominate the tech market in the future, and so tech firms should get as much women as possible on board in order to tap this potential market.

Speaking at a conference in Tel Aviv, Israel, Aguera y Arcas disclosed that based on his research, women’s incomes will most likely surpass those of men’s in the future as more women graduate from college than men. These findings debunk a current popular notion that students can stay out of college and still become successful, owing to the fact that several tech founders, including Bill Gates himself, never finished college.

"I've heard some nonsense that college isn't worth anything and it’s better to just found a startup. That's rubbish as far as I can see. All the data shows college earns you way more money over your career," he said.

By 2020, these women would have bigger incomes and more money to spend. The challenge for tech companies, then, is to lure these women into buying their products by designing mobile apps and gadgets that cater to women’s needs and preferences. Hence, companies should get more women on board in engineering, conceptualizing and even reviewing apps, gadgets and other tech products.

"If you can, hire women engineers and CEOs," he said.

Microsoft is one of the leading companies that promote workplace diversity and inclusion. Aside from valuing women as an integral part of the company’s success, Microsoft also promotes cultural diversity in its workforce.

To find out more about what Microsoft is doing to boost diversity, visit diversityworking.com.

HP hires dancers to juice out creativity

Tech giant Hewlett-Packard has gotten dancers on-board to help the company juice out its creative flair, particularly in conceptualizing new products, creating new policies and developing marketing strategies.

In 2008, the company partnered with Trey McIntyre Project, a Boise, Idaho-based creative organization that uses arts and dance to empower and transform communities, groups and companies.  Since then, HP executives have seen remarkable results in the way employees complete a task or resolve problems.

"They really create positive energy, and that translates into our engineers and scientists. It helps people open their minds," said HP General Manager of Future Technologies Von Hansen. According to him, working with TMP’s dancers "pulls our staff out of the same way we do things so that we can better design solutions and solve problems."

The “engagement” strategy is simple: To create a perfect synergy of business and art. During each session, the dancers show up and render a performance right at the employees’ work area. Afterward, they facilitate a discussion of the creative process involved in creating and refining a dance.

"We teach them the dance after we've discussed it so that they can experience that translation of verbal cue to action," said TMP’s Executive Director John Michael Schert.

"We're changing the role of the artist," Schert said. "We can help with how ideas are generated and harnessed. It helps companies, and it helps artists state their value."

Aside from this innovative strategy, HP also promotes workplace diversity as a way of growing its bottom line while also empowering employees to give positive contributions to the growth of the company. Find out more about what HP is up to at diversityworking.com.

Cultural Diversity: A World of Difference

The European Union has declared 2008 the year of intercultural dialogue, so what better time for companies to turn diversity into a business opportunity?

Written by Dr Atul K Shah

Professional bodies are a magnet for minorities of all kinds ­ they provide a way for them to break the class barrier and maximise their skills and potential. In the UK, the accountancy profession attracts the largest number of ethnic minority applicants compared to any other profession. Look at any list of prize winners, and minorities ­ ethnic Indians, Chinese, Africans and others will often be there.

Although actual statistics of membership are not available, anecdotal evidence suggests that at least 40% of the members are non-white. That is a staggering statistic. China, India, Kenya, South Africa, Nigeria, Germany, France, Brazil, Canada, USA ­ and countries from all over the world have sent their ambassadors to the UK ­ to practice accountancy. Every country in the world is represented in the UK profession ­ and that is a staggering accomplishment.

Either working in the profession or in industry, these members are making a huge contribution to the UK economy. There is diversity in the range of involvement and careers pursued. Many of these people are playing critical roles in the globalisation of British enterprise. British diversity has boosted the bottom line of corporations and professional firms for decades.

Plenty to offer

What exactly is it that immigrants bring to British enterprise? Different languages and cultural sensitivities for a start. International contacts and a flexibility of approach and hospitality gives them a leading edge. Hard work and diligence are a given ­ they have had to work very hard to get where they are and are keen to push the ceilings. Also they came with zero so the only way they can go is up.

For many immigrants, risk, enterprise and commerce is in their DNA. This applies particularly to Indians whose membership of the profession is in the tens of thousands. Their success has been proven by their thriving businesses ­ with many in the British Rich List. Their extensive community ties and networks provide them with huge social capital. The next generation has now been born and raised in Britain and having educated parents has made them even stronger.

At a time when countries like India and China are on the rise, people from these cultures with an accounting qualification provide an added bonus for effective international commerce. In professional practice, there is a disproportionately large number who have set up their own practices which are dynamic and growing. This is partly a result of discrimination and lack of opportunity within mainstream firms. They are a primary engine of small business growth in this country and many an entrepreneur would vouch for that.

The law on diversity in employment and services has changed significantly in recent years. It is illegal for firms to discriminate in their employment practices both at time of recruitment, progression and promotion. The consequences of breaking the law are serious in terms of time, embarrassment and cost. Many large firms have set up diversity units which spearhead employee training and ensure equality of opportunity at all levels.

Special employee networks have been established such as the Ernst & Young South Asian Network and the Price Waterhouse Hindu Network. There are also networks for women, gay people, disabled people and other minorities. However, the research evidence suggests that there is still a glass ceiling for minorities of all kinds. The same applies to industry and here again, if we look at the FTSE 100 companies, colour and gender is virtually absent among the board members.

However, there are positive ways of dealing with difference and turning it into an advantage. Human resource departments in firms hold the key to unlocking diversity and enabling change through recruitment, training and progression. Often problems lie in the very middle of large organisations ­ and the top stays mono-cultural as a result.

For teams to be creative, diversity helps in providing different ways of thinking and approaching a problem. Genuine open-mindedness enables learning and growth and avoids marginalisation of any colleague, irrespective of their background.

Studies have shown the huge losses companies incur through employee turnover, and this can be avoided if the right policies and practices are implemented. Empowerment of team members promotes respect and loyalty rather than fear and repression.

A recent study by Vodafone showed that many employees suffer from ‘identity stress’ ­ they feel they have to switch identities between home and the workplace. I like to encourage companies to embrace difference and see difference as an opportunity for growth and prosperity.

Treating employees ‘holistically’, where they are allowed to be themselves, creates loyalty and trust which are critical to lasting success. Mentoring and role models enable minorities to aim high and have hope and aspiration.

Organisational cultures need to change and this requires serious commitment from the senior staff. No longer can these matters be brushed under the carpet.

Professional bodies have to be careful in ensuring their services are accessible to all and that they take account of the needs of minorities and ensure their full participation in the association. Here again, there is a huge challenge as diversity is in policy statements but not observed in practice.

In reality, diversity in the workforce increases creativity and helps tap into new markets nationally and internationally. Organisations who ignore this are losing out.

How to make the most of it

• Difference is an opportunity, not a threat
• Organisations need to treat their employees ‘holistically’– as wholes and not parts
• Open-mindedness needs to be nurtured and encouraged
• Empowerment rather than territorialism will create loyalty and build trust
• Research has shown many employees suffer from identity stress
• Diversity helps creativity and enable firms to develop new products and access new markets
• A diverse workforce helps with global trade and commerce


About the Author

Dr Atul K Shah is chief executive of Diverse Ethics Ltd.

Source : Accountancy Age

Common Ground

Both employees and employers win when minority networking groups succeed

By John K. Borchardt, Ph.D.

Minority employee network groups are flourishing at a growing number of companies. These groups provide leadership in resolving diversity issues and offer opportunities for minority employees to grow professionally. They can also help firms compete in the increasingly diverse American economy as well as in global markets.

Both networking groups and employers have a stake in the success of the employers' diversity processes. Strong networking groups can help employers attract new minority employees and customers. They also offer workers a forum for connecting with others of similar backgrounds, interests and cultures. Edgard Prado, a project manager with Shell Services International and president of the Shell Hispanic Employees Network, says, "Our number one goal is to support Shell's diversity process." However, he also notes that the group "gives us an opportunity to talk about things common to us, to feel included and have a sense of belonging to something greater at Shell."

Removing barriers to build a sense of inclusion also carries multiple benefits. Rick Schroder, a diversity group leader and member of Shell's Diversity Center, comments that minority networks "help create a safe, open work environment where people can contribute to their full potential, increasing productivity."

GETTING STARTED

With regard to forming networking groups, diversity consultant Taylor Cox, author of Cultural Diversity in Organizations: Theory, Research & Practice, says, "A core of similarity among group members is desirable. Members must share some common values and norms to promote coherent actions on organizational goals."

Sometimes the impetus to form employee networks comes from management, but more often it springs from employees—although the company may facilitate the group. For example, at Microsoft, individual employees initiate the formation of networking groups. Aerospace and defense firm Lockheed Martin assists employees in starting "affinity groups" by posting guidelines on how to do so on its company Intranet. At Shell, employees can contact the company's Diversity Center for advice on starting networks.

When initiated by employees, networking groups have a better chance of being accompanied by great enthusiasm. For example, although the first organizational meeting of the Shell Black Networking Group was held at 7:00 a.m. on a Saturday, more than 300 interested employees attended.

Equally important, however, is getting management to buy in. Without the support of management, an employee group is likely to find success to be an uphill battle. Luckily for many networks, more and more corporations lend strong support, recognizing the benefits of promoting and encouraging employee organizations. Encouragement can come in forms as simple as the employer's providing access to meeting rooms, photocopying machines and company communications channels to announce meetings. Members of the Shell Black Networking Group use company videoconferencing facilities to communicate between different facilities during working hours. Support can also be given in more personal efforts. Each employee networking group at Texas Instruments is sponsored by a member of senior management. There and at other companies, the accomplishments of the networking group influence the adviser's own performance evaluation. At Xerox Corp., CEO Paul Allaire has appointed senior executives as "champions" of the employee networks and given them the authority to act on concerns raised by their groups. When African-American women at Xerox began to fear that the small numbers of black female engineering graduates would translate into their perpetual underrepresentation at Xerox, they confided their concerns to executive vice president William F. Buehler, their group's designated champion. Buehler acted, establishing a summer internship program for black women engineering students that has aided Xerox in recruiting these students after graduation.

MUTUALLY REWARDING

Many companies have discovered that supporting employee networks pays big dividends, as employee organizations can make direct contributions to business goals. Besides participating in ongoing computing technology discussions, members of Microsoft's Chinese group (whose members are from China, Taiwan, Hong Kong and North America) assist in Asian business development by participating in recruitment of employees for U.S. and overseas assignments. Their responsibilities grew when Microsoft announced it would open a research laboratory in the People's Republic of China.

Patsy Randell, Honeywell's vice president of corporate diversity and multicultural business affairs, says that the Asian American Council at that company provided valuable insight into Asian business practices and protocol that aided the firm's expansion in these markets. At computer systems firm Silicon Graphics, the Asian networking group provided similar advice and "was pivotal in helping them gain access to the Pacific Rim," according to Michael Wheeler, author of two diversity studies for The Conference Board, an association of Fortune 500 companies. Wheeler also reports that the Silicon Graphics' African-American networking group played a significant role in exploring expansion into South Africa.

Successfully marketing to minority groups is becoming increasingly necessary to business success. Employee networks play a role in reaching American minority consumers as well. For example, Honeywell's Hispanic Council aids the company in marketing products to people whose first language is not English.

Employee networking groups at many firms also promote minority employee recruitment. For example, at Microsoft, members of the Hispanic, Filipino and Chinese groups participate in employee recruitment of more professionals of these ethnicities. Prado emphasizes that the Shell Hispanic Employees Network wants to be a resource in the recruitment, development and retention of Hispanic employees at Shell. Network members are already working with personnel departments and visiting college campuses on recruiting trips, he notes.

While recruiting a diverse work force is important, employee retention is also a critical issue. "Very often, executives trying to build a diverse work force can find talented minorities and women already on the company payroll. All [these employees] lack is the opportunity to advance," observes Bernard E. Anderson, assistant secretary of the U.S. Department of Labor. Firms must promote the development of minority employees, offering suitable advancement opportunities. Some firms view their employee networking groups as valuable tools for encouraging professional development. Charles McCloud, new business development manager at Shell Chemicals, says, "Employee networks provide opportunities for growth for both the members and the company. The more people utilize network groups, the more opportunities there are."At Xerox the desire to retain minority employees has prompted action at the highest level. The Black Managers' Network, working several years ago with then-CEO David T. Kearns, analyzed the resumes of top executives at the company in order to determine the career path that each had taken to the top. Identifying the specific positions once held by these executives, Kearns then delineated similar positions at Xerox for professionals of color and women (in proportion to their numbers in the organization). The effort has not slackened with Kearns' retirement. Allaire has sent a memo to every manager informing them that he holds each of them accountable for promoting minorities and women into management.

The Black Managers' Network also found that African Americans as a group received lower performance appraisals than other groups—even when the same wording was used to describe their performance. In addition, African Americans in the same jobs often received lower pay for the same work. As a result of these findings, Xerox changed its personnel processes to achieve equity. These actions impacted hundreds of employees.

Networking groups at Texas Instruments have played a similar role, helping the firm update its policies against discrimination. For example, members of the company's women's networks participated in developing a training program addressing sexual harassment.

Employee networking groups also help younger employees meet successful co-workers who can become mentors and role models. In the case of engineers and computer scientists, these contacts can be invaluable since they might otherwise have little contact with successful minority co-workers. The latest employment data released by the U.S. Department of Labor show that there are still few African Americans and Hispanics employed in the engineering and information science fields.

LEADERSHIP FORUMS

Networking groups help members in less direct ways as well. Chip Egea, director of human resources at AT&T's corporate headquarters in New York, says that employee networking groups provide an arena in which to develop leadership skills—tools that become increasingly valuable to employees as they progress in their careers. The Texas Instruments Semiconductor Group Black Employee Network sponsors a leadership training program. Gini McCain, director of human resources communications at 3M Corp., notes that networking group activities often help employees develop useful political skills.

Some employee networking groups organize courses in career enhancement subjects such as communications and management skills. Others serve as clearinghouses collecting information on such courses and informing their members about continuing education opportunities. Employee networks can also strengthen other employee groups dedicated to improving personal skills. For example, discussions within the Shell Asian Pacific Employees Networking Group on the importance of oral presentation skills convinced some members to join the Toastmasters Club that meets weekly during lunch hours at Shell's research center in Houston. (Toastmasters International is an independent organization dedicated to improving its members' public speaking skills though an organized program of projects.)

Benefits can also spill over into the surrounding community. Wheeler says, "Community involvement helps the community but also provides developmental opportunities for employees."

The African-American, Hispanic, Native American and other employee networking groups at Microsoft have outreach programs to minority communities, particularly schools. Members of the Shell Hispanic Employees Network recently set up computers at a Houston area school that received a shipment of computers but no instructions on how to install them.

Programs through these and other companies' employee networks encourage minority employees to talk to grade school classes about career opportunities in engineering and other fields. These volunteers provide role models to children, showing that minorities can achieve career success in engineering and computer science.

Honeywell often responds to requests from its employee networking groups for financial support of worthy community and educational causes. The Lockheed Martin Latino Mentoring Network has raised thousands of dollars for the National Hispanic Scholarship Fund and has cooperated with other groups such as the Society of Women Engineers in service projects in the Hispanic community. These projects include going into schools to discuss engineering careers and serving as mentors to science teachers, providing information and materials to help them teach their classes.

CONVERGING POINTS

Even if various employee networks at a company represent different minority groups, they often have common interests. Recognizing this, some networks are banding together, sharing resources and supporting each other's missions. The Texas Instruments Diversity Network is an informal organization of representatives from the various employee networking groups at the firm. The Microsoft Diversity Advisory Council includes representatives of 12 employee networks.

At both firms these groups exchange information, oversee areas of common interest to the various employee resource groups, guide new initiatives and organize leadership conferences. The Texas Instruments network also publishes a periodic diversity newsletter for employees.

Throughout the country, corporations and their employees are clearly realizing the benefits of minority employee networks. When supported and nurtured by employees and management, both groups reap significant profits—not only in terms of the bottom line, but also in career development success.

Dr. John K. Borchardt works for Shell and is an adjunct professor of chemical engineering at the University of Oklahoma. He also consults on career management and work force diversity.

Diversity Expo, New York's EOE hiring event, brought to you by the producers of JOB EXPO and TECHEXPO, respectively the most successful Sales/Management and Information Technology career fairs in the Northeast. Over the years, we have acquired much expertise in the area of recruiting events production, striving to continually improve on past results and bring you great shows. Diversity Expo promises to be an outstanding success. All upcoming events are listed on the web site.

Source : Graduating Engineer Online