21 minute read
Women advance in business
Women in Business 2022: Are we making progress?
Despite negative predictions, women managed to make headway in 2021
Zoe Landi Fontana, The Weekly Journal
@Landi_Zoe
Women make up about 50% of the population, but not 50% of the boardroom. Yet, although we’re still waiting for adequate representation at all levels of organizations, Grant Thornton’s Women in Business 2022 report found numerous advancements for women in senior leadership roles.
“It is essential for companies to become more equal,” says Anna Johnson, CEO of Grant Thornton Sweden. “It is a requirement for being attractive to both customers and employees. Gender equality is something we as leaders must prioritize every day, in every decision we make.”
Last year, THE WEEKLY JOURNAL reported that globally women in senior roles made up 31%. This year, that number stands at 32%.
The Numbers Globally
By 2025, we could see 34% of women globally in senior management positions. While last year certain regions landed below the 30% benchmark, this year all monitored regions performed positively, led by improvements in Africa, where female leaders make up 40% of overall senior roles. “Mature markets sometimes find it more difficult to change,” notes Grant Thornton International’s Larissa Keijzer. “The numbers show emerging markets are speeding up, whereas Europe and North America are still changing their mindset over female leaders. Other markets just see talent, while established markets have to reinvent themselves.”
Not only is it important to look at the percentage of senior leadership roles filled by women, but it is necessary to identify which roles they hold. Within C-Level positions, women typically dominate human resources or other roles seen as “supporting” rather than “operating”.
An outlier in which female representation is markedly strong is the role of CFO, an operational position. Women hold almost half of CFO positions in Africa, and 42% in Latin America. North America, considered a more traditional economy, bring up the rear, with 38%.
“Ultimately, we would hope to see an even spread of female talent across all senior positions. Then the concept of gender-specific skill sets and attributes will be abandoned, and individuals allowed to excel where their talents lie,” the report stated.
How Gender Diversity Impacts The Workplace
According to McKinsey’s 2021 Women in the Workplace report, women tend to have different leadership styles. Women leaders take more steps to support their teams and check on their employees’ wellbeing, taking on emotional supportive roles in their companies in addition to their regular duties.
Such an approach has become an important aspect of leadership throughout the pandemic which has seen the portrait of an effective leader evolve, with an emphasis on mental health.
Additionally, awareness of environmental, social, and governance issues (ESG) has grown. The World Economic Forum highlighted the rise of stakeholder capitalism, which emphasizes the creation of longterm value by meeting the needs of everyone affected by, or with a stake in, the company. Grant Thornton’s research found that in the wake of the pandemic, 61% of businesses have been encouraged by their stakeholders to increase gender parity. “Profitability is one of the benefits of having a more inclusive talent pool gender-wise,” explained Mai Sigue-Bisnar of Grant Thornton’s Punongbayan and Araullo branch in the Philippines, “The recently published results of the Fortune 500 survey attest to this – those businesses with women on their senior management teams recorded impressive performance compared to those that weren’t so gender diverse.”
Areas of Improvement
Of the surveyed businesses, 95% are taking deliberate steps towards greater employee inclusion, with a focus on cultural change, psychological safety, and work-life balance.
The most popular issue for companies to resolve is work-life balance. 47% of respondents agreed that their company was working on it. Following closely are creating an inclusive environment - where all people can contribute ideas, and discuss issues and questions, and instilling working practices to increase employee engagement - factoring in those working remotely. Another 41% cited adapting learning and development programs to the changing working environment as a key issue. 73% of respondents agreed that flexible working styles and hybrid location models, most of which developed as a result of COVID-19, will benefit women’s career paths long term as they allow for them to juggle childcare responsibilities and other child-rearing tasks.
Despite this optimism, leaders must remain cognizant of the unconscious bias to promote and provide more opportunities to those who work in the office, and with whom they get more “face time” day-to-day, a phenomenon identified by Natasha Bowman, a business consultant, as “The Zoom Ceiling”.
“If companies go back to purely face to face or to hybrid working, where some people dial in and others are in the office, and if men go back into the offices and see each other, and the women combine work and home roles and become less visible, we could get a reversed diversity trend,” warned Larissa Keijzer, of Grant Thornton International.
In fact,
Globally, women hold 32% of senior management positions.
EU agrees on new digital rules to rein in Big Tech dominance
Kelvin Chan and Sam Petrequin, The Associated Press
The European Union set the stage for a stepped-up crackdown on big tech companies with an agreement on landmark digital rules to rein in online “gatekeepers” such as Google and Facebook parent Meta. EU officials agreed late last week on wording for the bloc’s Digital Markets Act, part of a longawaited overhaul of its digital rulebook. The act, which still needs other approvals, seeks to prevent tech giants from dominating digital markets, with the threat of whopping fines or even the possibility of a company breakup. For instance, they face tighter restrictions on using people’s data for targeted online ads — a primary source of revenue for Google and Facebook — while different messaging services or social media platforms would be required to work together.
The new rules underscore how Europe has become a global pacesetter in efforts to curb the power of tech companies through an onslaught of antitrust investigations, stringent regulations on data privacy and proposed rules for areas like artificial intelligence.
“What we have been deciding will start a new era in tech regulation,” the European Union’s lead lawmaker Andreas Schwab, said at a press conference last Friday.
In its crackdown on tech giants, the EU also has another set of rules, the Digital Services
Act, that aim to ensure online safety for users through stricter requirements to flag and remove harmful or illegal content or services like hate speech and counterfeit goods. Both are expected to take effect by October, EU competition chief Margrethe Vestager said. The European Consumer Organization, or BEUC, welcomed the agreement on the Digital Markets
Moscow, Russia, 18-02-2021: clubhouse app icon on smatphone screen surrounded by other social media apps and user run clubhouse. Clubhouse drop-in audio chat social media network. Shallow DOF Act, saying it would help consumers by creating fairer and more competitive digital markets. Digital rights group EDRi said it will “narrow the power imbalance between people and online platforms.”
In fact, Tech Companies Are Less Enthusiastic
Apple said it was concerned that parts of the Digital Markets Google would Act “will create unnecessary be prevented privacy and security from collecting vulnerabilities for our users information on while others will prohibit us YouTube viewing, from charging for intellectual online searches, property in which we invest a travel history from great deal.” Maps and Gmail Google said it will study the conversations text and work with regulators to to build a profile implement it. to serve up “While we support many personalized ads, of the DMA’s ambitions unless users agree to around consumer choice and each one. interoperability, we remain concerned that some of the rules could reduce innovation and the choice available to Europeans,” the company said. Amazon said it is reviewing what the rules mean for its customers. Meta, which also owns Instagram and WhatsApp, didn’t reply to a request for comment. The Digital Markets Act includes a number of eye-catching, groundbreaking measures that could shake up the way big tech companies operate. They wouldn’t be allowed to rank their own
Andreas Schwab, European Union’s lead lawmaker
products or services higher than those of others in search results. That means Amazon, for example, wouldn’t be allowed to list its own brand of goods ahead of rival offerings from independent merchants.
Essential software or apps such as web browsers can’t be installed by default along with the operating system, in the same way Google’s Chrome comes bundled with Android phones. There’s also a measure aimed at loosening Apple’s stranglehold on iPhone apps through its App Store.
A user’s personal data also couldn’t be combined for targeted ads unless “explicit consent” is given. That would prevent Google from collecting information on YouTube viewing, online searches, travel history from Maps and Gmail conversations to build a profile to serve up personalized ads, unless users agree to each one. Online services would have to ensure that users can opt out just as easily as they can sign up.
That’s “aimed at services where it’s super easy to sign up — boom, you’re a customer — but unsubscribe is hidden under three levels of menus,” such as Amazon Prime, said Jan Penfrat, senior policy adviser at EDRi. “They push it on to you with big, colorful buttons, but getting out of it is really difficult.” Criteria for defining a gatekeeper under the rules have been tweaked to include companies that earn at least 7.5 billion euros ($8.3 billion) in annual revenue in Europe in the past three years, have a market value of 75 billion euros, provide services in at least three EU countries, and have 45 million users and 10,000 business users each year in the bloc.
Violations could be punished with whopping fines: up to 10% of a company’s annual income. Repeat offenders could be fined up to 20% of worldwide revenue, which could amount to billions of dollars for wealthy Silicon Valley companies.
Negotiators from the European Parliament and European Council, which represents the 27 EU member countries, reached the deal after months of talks. It now needs to be endorsed by the Council and the European Parliament.
opinion
Manuel Quilichini,
Lawyer
In times of corruption, the plea bargain is king
We are waiting with bated breath the sentencing in the latest corruption scandal, that involving Felix “El Cano” Delgado and Oscar Santamaría, who ran a major corruption ring that has made headlines for the past few months. Many assume that their millionaire embezzlement scheme will send these individuals to prison for a long time. The societal thirst for institutional revenge may not be quenched, as many expect.
As preposterous as it may sound, many of these people may spend very little time behind bars, if any at all. Mr. Delgado will probably get probation and Mr. Santamaría, the leader of the gang, may get a few months in prison. This will lead some to clamor that the criminal system is corrupt, but it is working simply fine. These persons will benefit from a necessary evil in our criminal justice system: the plea bargain.
Plea bargains are ubiquitous. The Federal Government reports that 97.5% of all criminal cases in Puerto Rio are settled through guilty pleas, most through a plea deal. In these deals, the prosecutor “negotiates” with the accused: they cooperate with the authorities in exchange for a lenient sentence or favorable confinement conditions. Our criminal system has been reduced to a process where justice is not dispensed, it is negotiated. This would seem as a win-win situation for all those concerned, but looks can be deceiving.
Without plea bargains, our courts would be swamped with an ever-increasing number of criminal cases filed each year. Plea deals benefit those who knowingly commit crimes and are caught because they have a good incentive to admit guilt and save the system the cost of prosecuting the obviously guilty. The criminal justice system can allocate its limited resources in prosecuting major cases. Plea deals constantly come under fire by those who believe that the government is in cahoots with the corrupt officials. We see convicts such as Anaudi Hernández plea guilty and not having served a day in prison, despite having embezzled approximately $2 million. Then we see ordinary criminals spending a long time in prison for runof-the-mill crimes, including drug possession. Of course, high-profile criminals have a trove of information that may lead to the arrest of others, as in the case of the former mayor of Cataño. We rationalize that we need a good bait to catch bigger fish, but what happens when the mastermind of the embezzlement scheme gets a deal, like in the case of Mr. Santamaría? He will go to prison for a brief period considering his role in this huge criminal scheme.
Granting generous plea deals to the heads of criminal organizations promote a type of impunity because they know they can get away with little punishment if they provide information first. So, it becomes a race to who gets to talk first, and the prize is the sweetheart deal with the prosecutors.
But there is a sinister side of pleas deals that we do not see. A plea bargain can be a coercive tool used by prosecutors against those accused of any crime, with one goal in mind: a quick conviction. Threatening the accused with very long prison terms, they seek to intimidate him into accepting their guilt, even when they know they are not guilty. They just fear fighting the system. Innocence becomes an irrelevant concept in some of these cases.
On an island where impunity apparently abounds, prosecutors should exercise great caution when negotiating with the leaders of criminal gangs or organizations, especially in political corruption cases, lest they create the impression that immunity can be negotiated through plea deals. Negotiations are ongoing right now between the federal prosecutors and Mr. Santamaría and his cohorts, and his sentencing was recently postponed. Mr. Hernández’s sentencing is still pending even though he pleaded guilty almost 6 years ago. All these negotiations happen behind an intractable veil of secrecy, which may be necessary to some degree. However, prosecutors should thrive to explain why they reached a particular deal with a particular highprofile criminal, in particular the benefits of such generosity toward a corrupt politician. This is the only way we, as citizens, can maintain faith in our judicial system and the rule of law, and help build trust in one of our pillars of Government.
Pope’s peace prayer for Ukraine recalls ancient prophecy
By Nicole Winfield, The Associated Press
Pope Francis presided last Friday over a special prayer for Ukraine that harked back to a century-old apocalyptic prophecy about peace and Russia that was sparked by purported visions of the Virgin Mary to three peasant children in Fatima, Portugal, in 1917.
Francis invited bishops, priests and ordinary faithful around the world to join him in the consecration prayer, which opened Friday with Francis entering St. Peter’s Basilica before an estimated 3,500 people, including cardinals, ambassadors and pilgrims.
To hammer home its universal nature, the Vatican translated the text of the prayer into three dozen languages. Retired Pope Benedict XVI was participating and an envoy of Francis was celebrating a simultaneous service at the Fatima shrine itself.
The ritual is of deep spiritual importance to many Catholics and a source of fascination to others. It deals with some of the more controversial aspects of the Catholic faith: purported visions of the Madonna, prophesies of hell, Soviet communism and the death of a pope, and whether the prophecies contained in the so-called “secrets of Fatima” have already been fulfilled or not. The service was Francis’ latest effort to rally prayers for an end to the war while keeping open options for dialogue with the Russian Orthodox
Church and its influential leader, Patriarch Kirill. Francis has yet to publicly condemn Russia by name for its invasion, though his denunciations have grown increasingly outraged.
The Prophecy
The Fatima story dates to 1917, when according to tradition, Portuguese siblings Francisco and Jacinta Marto and their cousin Lucia said the Virgin Mary appeared to them six times and confided to them three secrets. The first two described an apocalyptic image of hell, foretold the end of World War I and the start of World War II, and the rise and fall of Soviet communism. The children were aged between 7 and 10 at the time.
In 2000, the Vatican disclosed the long-awaited third secret, describing it as foretelling the May 13, 1981, assassination attempt against St. John Paul II in St. Peter’s Square.
According to later writings by Lucia, who became a nun and died in 2005, Russia would be converted and peace would reign if the pope and all the bishops of the world consecrated Russia to the “Immaculate Heart of Mary.”
Lucia later claimed that John Paul fulfilled that prophecy during a Mass on March 25, 1984, exactly 38 years ago last
Friday, even though he never specified Russia in the prayer.
The text of Francis’ prayer Friday appears to correct that 1984 omission, reading:
“Therefore, Mother of God and our Mother, to your Immaculate Heart we solemnly entrust and consecrate ourselves, the Church and all humanity, especially Russia and Ukraine.”
It adds: “Grant that war may end and peace spread throughout the world.”
For some traditionalist Catholics, Francis’
Rev. Stefano Caprio, Professor of Russian history and culture, Pontifical Oriental Institute in Rome
Francis presided over a special prayer for Ukraine that harks back to a century-old apocalyptic prophecy about peace and Russia. >AP Photo/Gregorio Borgia
pronunciation of Russia in the prayer, as well as his invitation for all the world’s bishops to join him, finally fulfills the original Fatima prophesy. Some quibble that he has added in Ukraine, while others point to the fact that the original call for Russia’s “conversion” — presumably to Catholicism — might well have
In fact, been a priority for the Catholic Church in 1917 but is not a focus of the Vatican’s evangelization project now. The Fatima story Soon after Francis announced dates to 1917, his plans to hold the consecration when according to prayer, Patriarch Kirill announced tradition, Portuguese he, too, was inviting the Russian siblings Francisco Orthodox to direct prayers to and Jacinta Marto the Mother of God. Kirill has and their cousin called for peace but he has also Lucia said the Virgin seemingly justified the invasion Mary appeared to by invoking Russia and Ukraine as them six times and “one people” and describing the confided to them conflict as a “metaphysical” battle. three secrets. The Rev. Stefano Caprio, a former Catholic missionary in Russia and a professor of Russian history and culture at the Pontifical Oriental Institute in Rome, said Kirill is hardly the most hawkish of Russian patriarchs and is presumably under pressure to toe the Kremlin’s official line. But in comments to reporters last week, Caprio noted that the Catholic and Orthodox prayers being offered up Friday carry some significant ambiguities. “The problem is that these are two different interpretations: The Madonna who favors peace, and the Madonna who supports the war,” he said.
Will Smith dances with family after Oscar win, shocking slap
He received special attention at a party where major stars were everywhere
Andrew Dalton and Lindsey Bahr, The Associated Press
BEVERLY HILLS, Calif. (AP) — Will Smith gleefully danced with wife Jada Pinkett Smith and their family at the Vanity Fair Oscar party, waving his best actor trophy in the air like he just didn’t care as he rapped along to a mash-up of his own songs, from “Gettin’ Jiggy Wit It” to “Summertime.”
The only sign of the ugliness that went down four hours before — when Smith strode on to the Dolby Theatre stage and slapped Chris Rock over a joke about his wife’s hair, then gave a tearful acceptance speech minutes later — was the outsized attention given to the actor at a party where major stars and newly minted Oscar winners were everywhere. He was mobbed by people filming the scene and squeezing next to him for selfies.
“Congratulations Will Smith, I love you!” shouted DJ D-Nice as he spun the medley.
“Daily Show” host Trevor Noah gave Smith a long hug, whispering in his ear as Smith laughed.
The mob followed as Smith and his entourage made their way across the party. Smith clanked Oscar statuettes with other winners and stopped to accept congratulations and pose for
photos with Timothée Chalamet.
Smith held his Oscar triumphantly in the air as he climbed into an SUV to leave after the brief party visit.
His son Jaden Smith, staying behind to party with friends, shouted “I love you! You did it!”
The shocking slap and its aftermath hung in the air and dominated conversations at the post-Oscar parties just as it did on social media and in much of the country.
The Elephant In The Room
At the Governors Ball, which takes place upstairs from the Dolby Theatre immediately after the show, both joy and tension were in the room. Many were excited to eat, drink and get their Oscars engraved.
Many more were still processing what had happened on stage, though few were ready to express their feelings about it publicly. Rock did not appear at either party. Kodi Smit-McPhee, a supporting actor nominee for “The Power of the Dog,” said he was happy for best director winner Jane Campion and excited to celebrate, but “still calculating what happened” with Smith and Rock. “I’m going to have to go home and do my research,” SmitMcPhee said. Tracee Ellis-Ross stopped to have a conversation with Questlove, whose documentary “Summer of Soul” won in the aftermath of the incident. She told him that he’d done beautifully and that she was “really sorry that happened.” At the Vanity Fair party before Smith’s arrival, Andrew Garfield, who lost best actor to Smith, was introduced to Serena Williams, an executive producer on “King Richard,” the biopic about her and sister Venus that won
Smith his Oscar for playing their father. “Nice to meet you,” Garfield said. “I’m so sorry about tonight.” That out of the way, they hopped topics to talk about tennis.
Jada Pinkett Smith, from left, Willow Smith, Will Smith, Jaden Smith and Trey Smith arrive at the Vanity Fair Oscar Party. >Photo by Evan Agostini/Invision/AP
Beyond The Slapping
Other corners of the parties were like any other Oscar night.
The Elton John AIDS Foundation resumed its viewing party on the 30th anniversary of its first. Brandi Carlile performed at the event in West Hollywood hosted by Lady Gaga, Billy Porter and Eric McCormack.
At the Governor’s Ball, Anthony Hopkins danced as actor Riz Ahmed chatted with “Dune” director Denis Villeneuve. John Travolta posed with people taking selfies and Emilia Jones looked on as her “CODA” co-star Troy Kotsur got his statuette engraved while “Dancing Queen” played in the background.
…still calculating what happened… I’m going to have to go home and do my research.
Kodi Smit-McPhee Best Supporting Actor nominee
Before Smith arrived at the Vanity Fair Party, Bill Murray, wearing a beret, bopped up and down on a mostly empty dance floor to Lady Gaga’s “Poker Face.” Sofia Coppola guided father Francis Ford Coppola by the arm through the crowds.
“Game of Thrones” actor Sophie Turner and her husband, musician Joe Jonas, hung out near the bar. Actor Isla Fisher, leaving the party with her husband Sacha Baron Cohen, shouted to the arriving Wanda Sykes that she “killed it” as one of three Oscar hosts.
Billie Eilish and Kotsur smiled as they held their first Oscars and chilled with friends as the party began to thin out.
Other winners with far less famous faces reveled in the instant invitation the trophy gets you to the Vanity Fair party, the nearly annual gala – back this year after a pandemic year off – hosted by the magazine’s editor Radhika Jones at an indooroutdoor space between the Wallis Annenberg Center for the Performing Arts and Beverly Hills City Hall.
As always, guests gorged on In-N-Out burgers, the traditional fare at a party that is all about cutting loose and letting go of tension.
A Much Awaited Apology
The day after slapping Rock on the Oscars stage and upending the Academy Awards ceremony, Smith issued an apology to the comedian, to the academy and to viewers at home, saying he was “out of line” and that his actions are “not indicative of the man I want to be.”
