Celebrating Diversity Drives Results

The energy industry is facing unprecedented times. We are pressured to create shareholder value, deliver dividends, use our own cash flow to ensure continued oil and gas production, reduce carbon emissions in current production and transition to a future based on renewable sources of energy. Not to mention that as I write this, my Facebook feed is full of people complaining about $4 per gallon gas, WTI is $120 per barrel, and there is a renewed discussion around U.S. energy independence given Russia’s latest actions in Ukraine.  

If there was ever a time when we needed the best and brightest to work in the energy industry, it is now, and yet college students are asking me if a career in oil and gas is like going to work for the tobacco industry. 

Why all the energy preamble on International Women’s Day? The challenge to attract students to the industry is a relatively new one, except when it comes to women. We’ve never been particularly successful attracting and retaining women in energy.  

The aforementioned problems are complex and not easily solved. Can more women in energy be the answer to these problems? There is no guarantee, but our chances as an industry are a lot better if we have more diversity of thought and ideas. We must push against the status quo. We need to challenge each other. 

Diverse companies are more successful. I would like to think this message is common knowledge, but I keep finding it’s not. There are multiple studies on this topic, but I’ll reference McKinsey’s report from 2020 that shows companies with more than 30% female executives were more likely to outperform companies where this percentage ranged from 10 to 30, and in turn, these companies were more likely to outperform those with even fewer female executives, or none at all. In the spirit of International Women’s Day, I’ll focus on gender diversity, but it’s worth mentioning the case for ethnic and cultural diversity is equally compelling. 

I get asked to speak a lot on this topic. Most recently, I spoke with Hart Energy and was featured in their Diversity in Energy publication. I, along with many others in this publication, noted the strong business case for attracting a diverse workforce as it leads to more creative solutions, which in turn improves results.  

I’ve been in energy services my entire career, and I had gotten used to being the only woman in the room. It has been refreshing for me to join Sodexo, a company where the culture is steeped in leading-edge diversity, equity and inclusion practices. I am now rarely the only woman in the room. It has been enlightening to receive diversity scorecards, sponsor Employee Business Resource Groups (we have nine, supporting and advocating for African Americans; Asians; Native Americans and aboriginals; Latinos; women; the LGBTQ community; people with disabilities; veterans and people of all ages), lead mentoring circles and to always be handed a diverse slate of candidates when filling a position. 

What can companies do? Companies need to start holding leaders accountable for progress on diversity, and we all know that what gets measured gets done. I have seen in my own company how senior-level sponsorship and high employee engagement are critical to driving progress. At Sodexo, our bonus-eligible employees have part of their bonus tied specifically to completing diversity, equity and inclusion training and activities. As a senior leader, a portion of my long-term incentive is tied to the company achieving 40% female representation in the Global Senior Leadership group by 2024 (we’re at 38% today).  

What can I do? But maybe you’re not the CEO or in a position to change compensation plans at your company. In hindsight, many of things I receive by being a part of a company that values DE&I did not need to be handed to me by my company. I could have instituted it – or demanded it – myself. Any hiring manager can ask for a diverse slate. Everyone can assess the diversity of their own team and their teams’ teams. I could have started an EBRG.  

A quick Google search will lead you to many articles on DE&I best practices you can adopt, but a few ideas:  

• Lead inclusively. Inclusion requires active, intentional and ongoing efforts to promote the full participation and sense of belonging of every employee, client and strategic partner. Even if you are not in a management role, you can still be a leader in inclusivity.
• Coach, mentor and sponsor. If you’re not a senior leader, you may struggle to be a sponsor – but there is always someone earlier in their journey whom you can coach or mentor. You can start a mentoring circle, and if you feel you need a senior leader, ask someone to lead it.
• Seek out trainings for you or your team. Does your company currently require diversity training? If not, there are many great resources available. Start by opening team meetings with a diversity moment. 

You don’t have to be the CEO to be a leader. Frankly, you don’t even have to be a manager to make a difference in your company. Grassroots efforts are often the most successful!