Why do tall people earn more money?
Inclusive Talent Management
A US study concluded that, when holding variables such as gender, age and weight constant, an inch of height is worth $789 a year in salary. That means that a person who is six feet and two inches tall, but who is otherwise identical to someone who is five foot five, will make on average $7,101 more per year.
The lack of diversity at senior levels with regard to women, disabled people, gay people or ethnic minorities can somewhat be explained with reference to history, discrimination and cultural patterns. But how do we explain that 58% of Fortune 500 CEOs are over six foot, compared to 14.5% of the US population? These facts highlight that companies are continuing to compete for the best talent in a limited pool. Companies need to reframe how they think about talent management, diversity and inclusion.
Available on 3rd July, Inclusive Talent Management holds a mirror up to current discriminatory and unfair practices, explaining the dire need to shift from current ‘homogenous talent management’ to ‘inclusive talent management’. Providing practical steps and best practice for incorporating diversity and inclusion into talent management strategy, the book includes insights and examples from more than 60 leading organizations around the world across a range of sectors to help people reframe how they think about talent management, diversity and inclusion.
António Simões, CEO of HSBC Bank plc, said, “Thought-provoking and practical – [it is] the book every executive who cares about people should consider reading.”
Iris Bohnet, professor of public policy at Harvard Kennedy School, commented, ‘With their brilliant book, Stephen Frost and Danny Kalman enable us to walk the talk. A must-read for leaders who want to benefit from 100 percent of the talent pool and make a difference in the world.’
About the authors: Stephen Frost works with clients worldwide to embed inclusion into their decision making. He teaches at various business schools and was formerly Head of Diversity and Inclusion for the London Organizing Committee of the Olympic Games and Paralympic Games. Danny Kalman is a talent management consultant, executive coach and regular speaker on leadership development. He was Director of Global Talent at Panasonic Corporation from 2008-2013.