Reference no: EM131418517
Read "The 'ICE' Strategy" on Human Resource Management (pp. 8-9) of the PDF in Aetna: Investing In Diversity Case. Also review Exhibits 6 and 7 on pp. 22-23 of the case study to see the link between Aetna's strategic focus and the diversity outcomes that can result. From Exhibit 7, select one of the eight strategic focuses and one of the 10 diversity implications that you feel relates to that focus.
Discuss the relationship between the two and describe three specific actions Aetna could take to accomplish the diversity implication. Include at least one citation and reference in your initial post.
Respond to at least two of your classmates' posts concerning their choices and suggested actions. Can you add anything to their perspective?
Pages 8-9 below:
AetNa's vaLues-Based aPProacH to ruNNINg Its BusINess aNd Its Broad-Based aPProacH to dIversIty Aetna employees live by a set of core values, known as the Aetna Way, which put the people who use the company's services at the core of everything it does. While business results are important, Aetna's senior managers believe that how the company achieves those results-how it makes a difference for the people it serves- is every bit as important. Exhibit 5 (located in the appendix) shows the company's four core values: integrity, employee engagement, excellence and accountability, and quality service and value. Raymond focuses on the customer-centric nature of these values-that they all revolve around Aetna's customers. He also notes how each value is defined operationally in terms of how employees are expected to behave. Integrity: n Do the right thing for the right reason, honor commitments and behave ethically. Employee engagement: n Lead people to success, value diversity, and build confidence and pride in our company. Excellence and accountability: n Make a fair profit, innovate, anticipate the future-look, listen and learn. Quality service and value: n Make it easy. Eliminate hassles; make Aetna the standard by which others are judged; build trusting, valued relationships with all constituents.
The "ICE" Strategy Aetna's diversity strategy is a unique marriage of values and business strategy with roots from more than 35 years ago.7 Its core components are integration, communication and education (ICE). Exhibit 6 is a graphic representation of this overall diversity strategy.
Integration means that all diversity components are working together across the enterprise (marketing, HR, Aetna's philanthropic foundation, investments, procurement, sales, etc.) and that they are fully integrated into the short- and longterm business-planning process. Communication is the creation and dissemination of information to all employees and customers. Finally, education means deepening the understanding of what the diversity strategy is, its components, how it is manifested in Aetna's business strategy, who is included, and the creation of development tools to increase individual and organizational competencies.
The outcome of this strategy is twofold: (1) to serve customers in current markets more effectively while (2) identifying opportunities in new markets. It recognizes that Aetna's future success depends on a deep knowledge of all employee segments; clear and consistent communication to disseminate information to employees, customers and other key constituents; and an increased focus on developing the cultural awareness and competency necessary to sustain its business success. To be sure, Aetna's ICE strategy extends well beyond diversity awareness to that of a strategic advantage.
© 2009 Society for Human resource Management. Wayne Cascio, Ph.D. 9
As he examines Exhibit 6, Raymond notes that under the column heading "Integration," Aetna's diversity strategy supports its business goals. To illustrate this linkage in greater detail, he consults Exhibit 7, which shows the interplay between the company's strategic business goals and the diversity implications associated with them.
As for the ICE components of communication and education (of new hires, current employees and senior managers), Raymond considers some of Aetna's major initiatives:
New-hire orientation includes an overview of the diversity strategy. » The internal diversity web site includes information and resources related to » diversity, including Aetna's mission, strategy and other resources. Aetna's robust performance management process includes diversity-related » behaviors and competencies for all levels of employees. Aetna regularly publishes articles on different diversity topics on its intranet. » Since 2005, the company has published an annual diversity report. » Aetna sponsors a speaker series through its "Diversity in Action Lecture Series," » available to all employees via live webcast. The Aetna Diversity Board, chaired by the company's chief executive officers, is » comprised of Aetna executives, including its president. The Aetna Diversity Alliance, a multi-level cross-organizational group that » leverages and integrates each other's resources to maximize Aetna's diversityrelated presence and reach, internally and externally. The Aetna Diversity Scorecard. » An annual report for Aetna's board of directors, which captures the company's » accomplishments related to its diversity strategy. Aetna's chairman reports the results of diversity initiatives at quarterly managers' » meetings and at all-employee meetings. Reporting results of key external diversity assessments and surveys such as the » DiversityInc's "Top 50 Employers for Diversity." Raymond identifies four diversity focus areas in Exhibit 7-namely, workforce and workplace, suppliers, marketplace, and community and professional alliances. In thinking about the best way to integrate this material into his presentation, Raymond considers how the company measures several of these important outcomes.