Name: S&P Global CEO Doug Peterson Talks Leadership and #ChangePays Initiative
Uploaded: 2019-04-08
Duration: 4 min 47 s
Description: Doug Peterson discusses the company's recent installation at The Oculus in Manhattan, NY.

[ MUSIC ] This is ChangePays installation structure at the World Trade Center in Oculus. The rationale behind this campaign is that for too long, women's contributions to the workforce have either been undervalued or underappreciated. We've reached out to a Brooklyn- based artist Michael Murphy, and Michael created this, what they call this perceptional art. So if you stand here and look at that perception, right now from this perspective, it looks a little jumbled, and it's meant to be that way because as your view changes, your viewpoint changes. So as you move to a different angle We'll start to see the word change. And over here if we just begin to walk out a little further, you're going to start to see the formation of the word pays. So the artist was able to come in and create a structure where no matter where you are standing, you're view point changes and you're view point crystalizes a bit. If you take a step back and really understand the message Teej and the importance of the topic Doug you recently launched a campaign to highlight the economic benefits of increasing the number of women in the workplace and you call it change pays. Why did you decide to do this ?. We did this partially because women are so important to the workforce and we think 50 % of the economy should be active but this came about when some of our senior executive women were doing research we saw the results and said, wow we need to do more with this. Your campaign is called change pays. What is the economic impact dollars and cents of having more women in the workforce? Well, let me give you an example. If the United States had continued to change with women in the workforce as fast as Norway has, our economy would be about 8 % larger, $ 1. 6 trillion And when you look at other economies around the world, Korea, a lot of European economies, etc ., you can see that that incremental growth is pretty dramatic, if you had that kind of growth in the workforce. So what is it that countries, like in Korea, or No way. I understand Sweden, Finland, a lot of the Scandinavian countries. What are they doing that we're not doing here in the US? One is that there are actual policies in place in those countries, whether it's it's about parental leave. It's it's about kindergarten, child care, and another is actually cultural. And it's around the home. Does the husband do the dishes, change the diapers, do the laundry? Do they also provide a helping hand or are the cultures still in a way that the women do that kind of work? So those are both really important elements. You know, business have been talking about this sort of things. [ UNKNOWN ] For the longest time, that they want to promote more women into the C suite, but the progress has been very slow We really need to start forcing companies to have benchmarks and it's not that you need a quota system but you have to start holding people accountable for it and investors should be asking these questions they should be asking these tough questions. Women in the organization should be pushing harder. And we have a lot to do in our own company. I'm not gonna say that we haven't. We've done things and we have a strong board. We have four women on our board. We have about 30 % of our executives are women in the organization. But we need to do a lot more. But we have to hold ourselves accountable. So when will we See a company like yours achieve gender parity. It will take a while, because we need to build that up over time, but we have a commitment to, increase the women that work for us. Fortunately at our junior levels, and in the intake of people from MBA programmes, from universities We're at about a fifty fifty or so our junior workforce we're at that parity but we need to nurture, we need to mentor, we need to train, we need to encourage, we also need to have people sponsor and take risk. Sometimes it's about taking that risk on that somebody and giving them that opportunity. There's a lot of change that we need to make, that's why we talk about it as change pace What actions would you like to see other businesses do that can advance this campaign? What we really need to do is get corporations to commit to this and to focus on it. And we're working on some corporations and other organizations to see if we can come up with a list of best practices. You've meet with so many of your C CEO clients. What do you say and what is the single most important thing that you say so that you do get them to commit to some kind of action? What I say to business leaders What do you want for your daughter? What do you want for your cousin? What do you want for your sister? And what kind of opportunities do you want for women in the world and this is where you have to think about it. You need to think about the people around you and the opportunities that they should have [ BLANK_AUDIO ]

S&P Global CEO Doug Peterson Talks Leadership and #ChangePays Initiative

Leadership

Doug Peterson discusses the company's recent installation at The Oculus in Manhattan, NY.