retail news in context, analysis with attitude

The Tampa Bay Business Journal reports that at last week's Raymond James Women's Symposium in St. Petersburg, Sallie Krawcheck, described as a "Wall Street veteran" who now is chairman of Ellevate, a professional networking organization for women, pushed back against comments last week by Microsoft CEO Satya Nadella in which he suggested that women should trust the system to reward them fairly and not push for raises.

"Ask for the money, ask for the money, ask for the friggin' money," she told the symposium audience.

According to the story, Krawcheck "cited statistics that show women as a group make 77 cents for every dollar men make. She also shared an example of two equally qualified workers, one male and one female and both eligible for a 5 percent pay hike. Too often, she said, the man is likely to get 7 percent while the woman gets 3 percent."

In addition, Krawcheck told the audience that a diverse workforce tends to be one that avoids groupthink, and therefore is smart business.

She stressed the need for more diversity of all kinds in the workplace and on corporate teams. "A diverse business team outperforms a smart team," she said.''
KC's View:
We're on a roll there this morning. Beyond the immediate goal of making sure that women demand to be paid what men are being paid for the same jobs, the larger lesson is that diversity makes a business more relevant to the markets it is trying to serve.

That's right. More relevant.

(See a pattern in this morning's stories…?)