"THE BUZZ"
Insights into the forces shaping our industry's future.

Quote of the Month:

"Eschew Obfuscation!"
                         ...unknown

May 2008

Egret's Annual Women in Industry Survey
By Ted Konnerth

I've attended the NAED conferences for over 20 years and for the past several years I've conducted a survey of the number of NAED badge attendees who have female first names.  Albeit, this is not the most scientific survey but the results confirm the overall perception I've had of our industry for the past 25 years; we are a male-dominated industry.  There are elegant rationalizations for that; the distribution industry was launched in its current form at the end of World War II, when the returning soldiers represented an extraordinary influx of labor at a time of government sponsored construction projects; where the availability of materials was a major contributor to the efficiency of our re-birth from the War.  The industry was virtually started by men and has remained virtually male-only for 60 years since.  Dads turned the business over to sons, and a handful of daughters, but a strategic process of attracting a diverse workforce into distribution and even electrical manufacturers simply never gained traction.

 

I've updated the results for 2008 and will make several comments about those results, but first a few rules:  for every name I find that is non-gender specific (Chris or Pat, etc.), and I don't personally know of them, then I accumulate those names into a total and assign 70% as male and 30% as female.  At the end of the day, I had a total pool of uncertain names of only 6 (so 4 were considered male and 2 female); not enough to hugely impact the statistics.  Here is the summary of 2005-2008: 

  Category # of Females  Total # Attendees %Female
2005 Distributors

20

332

6.2%

2006 Distributors

22

316

6.9%

2007 Distributors

21

323

6.5%

2008

Distributors

25

396

6.3%

         
2005 Manufacturers

27

381

7.0%

2006 Manufacturers

17

358

4.7%

2007 Manufacturers

17

331

5.1%

2008 Manufacturers

23

348

6.6%

         
2005 Total, above

47

703

6.7%

2006 Total, above

39

674

5.8%

2007 Total, above

38

654

5.8%

2008

Total, above

48

744

6.5%

My professional interpretation? No changes.  This could be caused by one of two explanations: 1.  the industry is still ignoring a strategy of attracting a more diverse employment base, or 2. the diversity strategies are in place but it takes time for women recruits to rise to a level of authority that warrants attending the national NAED conferences.

NAED as an organization has launched their version of a job board to attract new college grads, which should increase some measure of diversity.  Unfortunately, the issue of attracting talent and retaining talent is largely ignored in the NAED conferences.  This conference has one presentation on Assembling a Leadership Team.  At a time when the absolute top issue for growth is attracting or keeping talent, NAED could serve its members better by recognizing that the industry desperately needs serious consultation on how to hire people, how to keep them, and how to attract people to their unique company.  Bluntly put, diversity hiring is essential for no other reason than the current labor pool isn't predominately white guys any more... it's women and minorities and old and young, all selling to customers who are just as diverse as America.  In short, do you want to grow and become more profitable?  Then start to mirror your customer base or differentiate your business into minority-owned companies.

As the inimitable Peter Drucker so eloquently says:  "the ability to make good decisions about people represents one of the last reliable sources of competitive advantage, since very few organizations are very good at it".

Ted Konnerth will be attending the NAED conference, let us know if you'd like to talk about the issues that are facing every company in attracting talent.

 We are the #1 recruiting firm in the electrical/industrial industries.  Isn't it about time you called to find out...
                               ...Why Us!?
 

To view our recent newsletters click here: 'THE BUZZ'

Survey Corner
Egret Survey of the Month:

Women and the Industry

Please take 12 seconds to tell us how many female managers there are in your company. We'll report the findings next month!

Click Here to take survey

Last month's survey question:
Based upon ytd performance, how well do you think your company will perform in 2008?


Results:
Overall the industry outlook/performance forecast for 2008 is positive:

Responses:
19.0% - Up 15% or more
14.3% - Up 10 - 15%
38.1% - Up   5 - 10%
23.8% - Up   0 - 5%
  4.8% - Down 1- 5%
  0.0% - Down 6 - 10%
  0.0% - Down 11% or more 

Population:
57.1% Manufacturers
28.6% Distributors
14.3% Others

Industry Events
We welcome the opportunity to meet!  Please email for an appointment.

Lightfair International 2008
May  26th  - 30th
Las Vegas, NV

Email to schedule a meeting with Ted Konnerth 

Email to Schedule a meeting with Diane Duncan

Mergers & Acquisitions
 
We offer confidential consulting services to help you sell, or recapitalize your company. Our 25 years of industry relationships offer a unique process of confidentially identifying the 'right fit' buyers.
 
Contact Ted Konnerth tk@egretconsulting.com for a free consultation on marketing or recapitalizing your company.

Industry Specialties:
• Electrical Manufacturing
• Electrical Distribution
• Industrial Distribution