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How Socioeconomic Status Impacts Work w/Brayden Olson, Co-Founder of Almas Insight

• Francesca Ranieri • Season 1 • Episode 38

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Your socioeconomic status dictates your future.

Wealth inequality has a more significant impact on where you go and what you can do.

From the education you receive to the career paths you can access, and even how you view yourself in society. And this isn't just your problem—it's a generational crisis.

We sat down with expert, Brayden Olson co-founder of Almas Insight and Author of Twilight of the Idols to dive into the unspoken class system in America and suss out how individuals and organizations can work to level the playing field. 

Olson provides eye-opening personal anecdotes and insights into how inherited resources, rather than individual effort, frequently dictate life outcomes.

We take a closer look at the unspoken class system in America and its daunting effect on social mobility. From the misconception that hard work alone can surmount socioeconomic barriers, to the critical role that financial and social resources play, we expose the hidden dynamics influencing career opportunities and self-worth. Engaging stories reveal how individuals from lower socioeconomic backgrounds face unique challenges, particularly in high-status professions, and highlight the importance of confidence and inherent knowledge in navigating job interviews and college applications.

Lastly, our discussion shifts to the workplace, where we explore the role of technology and leadership in perpetuating or dismantling socioeconomic biases. Olson introduces innovative AI-driven solutions designed to level the playing field in hiring processes, stressing the potential of technology to foster equality. We cap off the episode by reflecting on the broader societal impacts of economic divides and the urgent need for empathy, resilience, and collective action to build a more equitable society. Don't miss this insightful conversation on addressing and overcoming socioeconomic challenges in education, work, and beyond.

Disclaimer: This podcast is for informational purposes only and should not be considered professional advice. We are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. The views expressed in this podcast may not be those of the host or the management.

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Socioeconomic Bias in Education and Work

Speaker 1

the most significant determinant of someone's future is how much money they were born into, and it's not even close. So when you compare it to race and gender and sexual orientation and all of the other statistics that we have invested a lot of infrastructure in protecting for it doesn't even come close to the amount of advantage that people are experiencing based on wealth inequality.

Speaker 2

Hey friends, we're excited because we have Brayden Olson with us. Brayden has had a long and successful career in the tech and human development space. In 2022, they became the co-founder of Amis Insight Inc. A company backed by Learn Capital that quickly and objectively measures human capability at scale. In 2019, they joined Deloitte as the Enduring Human Capability Center of Excellence lead, leading a team of passionate people about better understanding of human potential and how orgs can be even more effective by fostering that human potential. That's also where I had the pleasure of working with Brayden. Brayden also has a very deep background in game design. He was an NSF grant recipient for work in this field and has designed games to better understand human behavior. He worked with to pass legislation relevant to economic inequality the Washington Jobs Act in Washington State and he received a pen from the governor. So, brayden, welcome to the podcast. We're so happy to have you here. You've had quite the journey, so we'd love to just hear about your journey. Tell us more about how you got started in this space.

Speaker 1

My pleasure to be here, so great to be with some fellow Deloitte alumni. The way I like to talk a little bit about my journey. It's always easy to talk about the end state or the successes or the accomplishments. I really like to get the message out there. The reason I'm here today has a lot to do with where I came from.

Speaker 1

My educational journey was hard so I didn't have money for school. I had to get basically a government program that helps Washington students go to school, basically get their associate's degree through community colleges first before going on to a four-year degree. I had to overload all my classes. I ended up graduating with my four-year degree 18 months after I graduated from high school, working in the school cafeteria and I barely made it right. I was on two-thirds merit scholarship, public subsidy, the whole thing. We'll get into it, but it's part of why I care about this stuff so much.

Speaker 1

I went through a period where every day was looking at my bank account and thinking did I get another overdraft fee? Can I afford to eat this meal? There was a time before getting financing for my first company where I was like I don't have money to eat, I can't go get a sandwich and I always want to make the point my parents did absolutely the best for me that they could. There is nothing that they didn't do for me that they could do, so I don't want that to get mixed at all. The fact that I went on to become an author and a researcher and an entrepreneur at all is something that I am grateful for every day, and that was a hair's breadth from never happening. So that's the way I like to tell my journey and why I care about this stuff.

Speaker 2

Yeah, it's incredibly important and powerful right, because that's what's really powering you behind all of this initiative and it makes sense. It's tough. We've been there, francesca, and I talk about it often that early, early days of just the struggle bus when you're getting started and it being really difficult. And I have a very similar background to you, brayden, so for me your work is also really important. I just think giving people the opportunity that you had to really struggle to find is incredibly important. We're here today to talk about socioeconomic bias. You've written a book about it. You've built technology to help eliminate it. What is socioeconomic bias? Explain it to someone like they're five. What is it at the most basic definition level?

Speaker 1

Yeah, I'll say it personally and then I'll say it more technically. When I went through that process I just described and I said I was so close to none of these things ever happening, I went back and I did the numbers and if I had been two years younger, the increased cost of tuition would have meant that none of this would have ever happened in my life. I would have ran out of money for food before I became an entrepreneur and anything subsequent to happen to that. So what socioeconomic biases mean is, you know, put you in the same role that were, but a couple of years later and all of a sudden you become a different person. You can't make it. Those doors closed for you.

Speaker 1

This is an active and progressive issue. Now, in a more general sense, society can be structured so that an individual's fate is based on their contributions or on their endowments, in other words, what they bring to the table and what they do for others, or what they started with. And socioeconomic inequality is what kind of a culture do you want to live in? One that's a feudalist culture you're inherited into whatever your life is going to be, or one where your ambition and capability and talent are what drive those outcomes?

Speaker 2

no-transcript. Something that really hit me hard was that story that came out about celebrities who were paying for their kids to get into those prestigious schools when they didn't have the merit or do the work to do it. And you just think, oh my God, that's just so unfair to so many people that these little kind of backdoor entries into these institutions exist even.

Speaker 3

But Mel, the Full House mom's daughter, was an influencer, so we could talk a lot about being on the rowing team and I wrote at UConn, so I was like even that's fake.

Speaker 2

It made me so angry, but so I just. I really think this is such a critical topic because it does. It starts in in the education space, which we know. Education and higher education isn't the only path to success right in the world today. However, that is a big path to success and opportunity, and when there's five padlocks to get through those doors, you can't even get into the workplace because it starts with the education piece. So it's just yeah.

Speaker 1

Can I give you an unfun?

Speaker 2

fact. Oh, please do, please share.

Speaker 1

This is unfortunately an unfun one, but so I was doing a little research on this recently myself. I was talking with someone who's from a different generation and we were talking about what's changed, and he'd gone to Harvard himself and he was aghast to know that now there's this industry built around graduate advisors. And you would think what's a graduate advisor? Oh, if you get your master's, you have a graduate advisor who helps you get ready for your PhD. No, these are private graduate advisors. Use them for applying to master's programs or undergraduate programs, and they're admission officers that then sell their services to help you prepare your essay, your extracurriculars, what clubs you should say that you belong to, exactly what to say in your application. What they're looking for and what they promise is for $25,000, 90% or higher rates of acceptance into your top three schools of your choice. So, regardless of merit or background or current level of education, they can get 90% of the people they help, or above, placed in one of their top three schools in the world.

Speaker 2

That's the system, unreal, because they're admission counselors and they have that network. How is that not a conflict of interest?

Speaker 1

Yeah, so it's admission counselors who just left the admission board and it is a conflict of interest and the implication is but they don't have any insight today. They're not in touch with the colleagues that just rolled into the admission office. I don't believe that personally, especially with those rates of success. But that is the idea, is that it's not quite illegal because they are not currently the admission officers.

Speaker 3

I like to frame that under hashtag bullshit.

Speaker 2

Unreal, 100%, all right and we know this is rampant in education but say you made it through those hurdles. You have your education. Now You're ready to go out into the working world. How does this show up in the workplace?

Speaker 1

I'm going to answer that, but I just have to like say but the premise is, how many people are making those hurdles? I think we really think there's so many more people who are able to get through an educational system, but it's what? Third? A third of people get through, and most of it is financially derived now. So I just want to say those are big hurdles. It's hard to get to the other side, but once you get to the other side, they're going to show up.

Speaker 1

There was a scandal a couple of years ago that I actually think is maybe one of the best things that could have happened.

Speaker 1

That has happened, which was Amazon created an algorithm completely de-biased, objective algorithm, in theory that was just meant to basically look through people's resumes and indicate, you know, who should be brought in for interview, and when they set the AI to look at the commonalities in the resume, what they found is that the people they had and the people that they were bringing in were from the same schools, from the same clubs, from the same associations, and so the same is true for birds of a feather flock together, right?

Speaker 1

So if your senior boss went to the same alma mater that you do and I don't want to make it just about school but is in the same club as you. Right, you're in the golf club. Together. That is going to influence your career, and so, at every step, at every juncture, we place people that we have connection and familiarity to. So, even after the schooling is done, it's what clubs and associations you block to, which, again, are related to how much money you have. Right, you don't belong to the golf club and you don't belong to the Columbia Tower Club. You don't belong to the St James Club, unless you're already wealthy enough to be there.

Speaker 2

I worked in talent acquisition for years prior to getting into talent development and that is absolutely rampant in organizations where it's.

Speaker 2

These are the schools that our people are from, they're alumni.

Speaker 2

These are our main campuses that we're gonna focus our time and attention to and there are a lot of services that come with that relationship, because internal talent acquisition teams at organizations typically build deep relationships with the programs at those schools career services offices, they provide workshops, they provide interview prep. You're providing all of these free services and connection and relationship with those quote unquote chosen schools. And then you have what we would call essentially these are the fringe schools and the time and effort and resources aren't really put into recruiting from those schools unless someone's really pushing for it, and it used to be just mind boggling to me like how much talent are we missing out on? Because you will only prioritize these 10 schools and we have 30 that we can choose from, with exceptional candidates coming out of all of them. But if it's between two candidates, there's this preference for someone that comes from one of those known schools. I know that's changing and there's a lot of good discussion around that today, but it's definitely hard to see and hard to work through.

Speaker 1

You might actually have this data point better than I do. I just generally say how many people get jobs going through the standard, apply for it on the website, submit your resume, get called on the basis of your resume, and how many people get jobs because they know someone at that company. Right In my mind, the most common way and I'd love to hear your expertise on it. But referrals are socioeconomic bias. Inherently they know you because you are in a social sphere to know them, whether that was from your parents or from your school or from your social club or from your church. That is inherently the system and I again, you might know the numbers better, but I would imagine it's pretty high the number of people who get in through a referral.

Speaker 2

Yeah, we have obviously nepotism rules that you need to follow to avoid that bias and try to get ahead of bias taking place just in terms of standards. But you could definitely feel the unspoken pressure right of this person in particular really wants them to come in for this internship and at times, yeah, you're like what the hell, man, I don't want to be part of this choice or this conversation, and referrals are definitely a way that it at least gets your foot in the door for a screening interview the majority of the time.

Speaker 3

And referrals. When you're in the organization, they're incented. We were offered thousands of dollars If we found someone from our network and they were hired into those organizations. We would get thousands of dollars for that. It's not even just a hey, could you refer this person in it's? You're financially incented to do that. Yeah, yeah.

Speaker 1

Yeah, and on one hand seems harmless.

Speaker 3

Seems like it yeah.

Speaker 2

It seems very efficient. It cuts down on the time of potentially finding good candidates right, because that takes time and money. I always go back to it. Started with positive intent but quickly got dark.

Speaker 1

Exactly.

Speaker 3

Why are we all white guys named Chad Exactly?

Speaker 2

Why are we all?

Speaker 1

white guys named Chad. We were all part of the rowing club.

Speaker 3

You went to University of Illinois too. Oh my God yeah.

Speaker 2

I accidentally made it on the rowing team. My friends will tell you.

Speaker 3

How do you accidentally make it? How do you accidentally Listen?

Speaker 2

it was a dare to try out. It was like a fluke thing and I'll just yeah anyway, but then it was awesome. With everything, there are misconceptions on topics. So what are some common misconceptions that people often think about? Socioeconomic bias in general and then in the workplace?

Speaker 1

I'm going to respond to that question with a question, and this is a little bit of a hot take on my part, or I want to say a hot take. It's really sound in the data, but there's a lot to talk about here. So my question is what do you think are some of the most common biases that we talk about in workplaces today, or that we create policies around?

Speaker 3

Race gender, age, sexual orientation, religion.

Speaker 1

Yeah, there's a lot. There's a lot we talk about in this field. So there's some great research just three years ago out of Georgetown that shows the most significant determinant of someone's future is how much money they were born into, and it's not even close. So when you compare it to race and gender and sexual orientation and all of the other statistics that we have invested a lot of infrastructure in protecting for it doesn't even come close to the amount of advantage that people are experiencing based on wealth inequality. So the common misconception is this is not as big of a deal as it really is.

Speaker 2

I believe that, though, because we have an unspoken class system in the US, I like to say we don't have this caste or class system here, or you often hear, oh, middle class, what does this truly mean? But it does feel like people have their stations and it gets harder and harder to climb to the next level, and there's this misconception that you can do anything if you just pull up your breech straps. You've been going and work hard, but it is not the case.

Speaker 1

That is what the economic data tells us.

Speaker 3

I think because there's a money thing to it. There's also to me. I grew up upper middle class. I remember I had someone very close to me that their parents had immigrated to this country and he was eight when he immigrated and I remember we were both in grad school and I was going into corporate. My parents were both corporate, his parents worked in factories and we had this discussion around navigating corporate and that I knew what to do because my parents were helping me navigate all of this stuff. There was a language that I inherently grew up with and understood, that was absolutely foreign to him, and it was the first time in my life where I was like, oh wow, it's a money and opportunity piece. It's also a unwritten language of how do you even navigate college applications, how do you navigate social crap that happens when you're in these circles or not. It's all of that.

Speaker 2

It's all of that with Francesca and I talk about it all the time because we're like, wow, this experience was way different. But like you, brayden, and to your point, francesca, similarly I did not have that guidance. It was a financial aid officer at UConn that helped me fill out my FAFSA, because my parents didn't help me do it. And then I remember my first job interview. I didn't realize you had to wear a suit because I didn't have parents to teach me. They were like telling me that guidance and I borrowed a friend's suit to interview because I was rejected by three jobs because I showed up in a button down shirt and pants and it wasn't a formal suit and I was like, what's the problem? Why does that matter? And I didn't even own a suit and I didn't have the money to buy a suit, so I borrowed one just to have that first interview.

Speaker 1

Yeah, I would love to amplify because you're exactly right, it's all of these subtle and small things we don't even think about. And then there's this level deeper let's talk about, like how a person perceives themselves in the world, confidence, what their worth, what their inherent worth is as a human being. And when they study this they're like they can do the standardized tests on kids young and they'd be like this kid's in the top 10 percentile in terms of math capability, but bottom 10 percentile in terms of economics, and what happens? So they see that their scores go down and down and down Right, and the other kids scores go up, and part of that is the tutors that the parents can afford, but the other part of that is one of these kids is getting affirmation.

Speaker 1

One of these kids is being told that they're worth something and that they're loved and that they're valued. And that adds up in how, like, I'm going to take it all the way to the workplace, right? So you have that kid who starts out like always feeling they're super talented, they're super capable, and they always feel behind and they're always made to feel not enough or not as good as their peers. Are they asking for promotions when they're 25 and when they're 30 and when they're 35? Or are they just happy to be there if they succeeded in being anywhere? And so there's, like this inner confidence and value and self-worth and problem of caste systems, as you said, you know.

Speaker 2

Yeah, it sounds like there's a lifelong kind of issue there where they're not going to ask for those opportunities or feel they're worth going after them. So, man, we could probably talk about two hours I'm like oh, there's so much to uncover, how, how does this, or does it even differ between industries or professions Is there? Is it more rampant in certain professions over others, or have you found that it's pretty much across the board?

Socioeconomic Impact on Career Development

Speaker 1

Well, it's going to sound like good news. It's not across the board, but the bad news is it's directly proportional to how much status, money, privilege, come with that position. So the more desired the position, the more socioeconomic barriers will be an impediment If you want to be a CEO, or you want to be a senator, or you want to be an astronaut, or you want to be if it has power, and so you can see this again. I've done some of my own research more recently and my own personal experience with graduate programs, so it's fresh on my mind. I don't want to keep going back there, but the families that are wealthy want their kids to go get a medical degree, get a law degree, get a business degree, get an engineering degree. These are going to be inherently more competitive and bought and purchased programs. Someone going for a fine arts degree? I don't know, there's probably not a lot of low economic people that are trying to go to a four-year school to get a fine arts degree, but it's more competitive the more money is associated with the role.

Speaker 3

I'm laughing because my undergrad was in Italian printmaking, which is etching on copper plates. Again, I made really dumb shit decisions. Sorry, yeah, I'm laughing. Oh, yeah, oh my god was that about privilege I'm gonna come for?

Speaker 1

I'm here for the joke, yeah but it's yeah, I love it and yeah, yeah, it's, yeah, it's good, we need to care about the issue. We need to laugh too, because that's how you do with this stuff. It's good, we need to care about these issues. We need to laugh too, because that's how you deal with this stuff. It's sad, yeah.

Speaker 2

I love that we're having this conversation and we can joke about it, right, because, okay, what can we do to make it better? That's the ultimate goal, and talking about it helps bring awareness. I think even just sharing our personal stories about what was your experience like can be really eye-opening of how different Back I remember when I was younger, I knew there was a difference, but I didn't realize how much. And it's these stories as I get older, with peers and friends and talking about it, where you're like holy shit, how do you change this? How?

Speaker 3

do you change it? Brayden? One of the things you talked about earlier was this idea of confidence from an individual. What is the long-term impact of socioeconomic bias on individuals? One of those impacts could be on the confidence piece, but what have you found in terms of what are some of the other long-term impacts of this, as people are going through their career.

Speaker 1

Okay, let's take it step by step. I think that self-worth thing develops early. I think whether you can afford to get an education which a majority of people won't. So these are big barriers each time. So, whether you can afford to, can you get into a prestigious one? Do you have the with the right people in the right ways especially now with the remote work outside of work, in your social clubs and golf clubs and whatever to get promoted more quickly as you go through your career? For most people that's about promotions.

Speaker 1

I do want to take a slight turn and say a lot of these people don't do it through the traditional career workforce. Right, they might go on to be politicians or celebrities or. But I'm an entrepreneur. A lot of people are trying to move in that direction now and that is highly correlated. Whether the people that can make your company successful I how deep do I want to get into this, there's so much I can say being able to get money for your company is completely who. You know, I sit in these different meetings, so I see both perspectives very clearly.

Speaker 1

For people who go in and pitch to VCs and the VC doesn't know who that person is, is a button down professional pitch, super nuts, they are going to talk about the business and they're probably going to get a no. If the VC knows the person and again, I sit in on these calls they say, oh, nevermind, don't worry about the pitch. Yeah, how are we going to get this done? Verbatim, how are we going to structure this deal? Which of our friends are we bringing in on it?

Speaker 1

Which? Which influencers are we going to tap for this one? Oh, it's like the other one we did right, so let's tap this one and this one. So it's everywhere. And so they might do it within promotions, they might do it by trying to be an entrepreneur or start their own business. They're still going to count it. And I think the longest term implication, and the one that we need to be the most concerned about and talk the most about, is that the impact of socioeconomic inequality on that person's life is also going to be the primary determinant of the success of their child's life and their child's life. It's like generational at this point.

Speaker 3

Yes, I just read a study that one of the greatest impacts on a child's happiness and their well-being is actually how happy the mother is. Did you see that?

Speaker 1

Which makes sense.

Speaker 1

So there's a great book called In the Realm of Hungry Ghosts, which is written by one of the greatest addiction experts in the world, and in that book he talks about all of this research and about basically what leads to addiction.

Speaker 1

His point is amazing, which is we're all oriented to addiction and we all have some form of addiction. The question is, how much do we express it? And that has to do with how much we suffer, love the message. But his point on this mother thing is he says that the number one determinant, or the most impactful determinant around whether someone will become a drug addict is the abnormalities that they have in their serotonin and dopamine production, because basically, people who have abnormalities will have different experiences with drugs, where it's like they really don't feel normal without them, and the primary determinant of that is how much eye contact they have with the mother between the ages of one and three and what were her stress levels. And so then you think about that and it's which mothers are with their children constantly between one and three and don't have stress or have the least amount of stress.

Speaker 3

When I think about some of the highest stressors that people face too money, if you are feeling like you're living paycheck to paycheck or you're on the verge of homelessness that amount of stress, in addition to raising children, in addition to trying to be a partner or a spouse or a daughter, a son, a sibling, it's incredible. That's an incredible amount of stress. Yeah.

Speaker 1

And working right. And the other thing we didn't say is how many families can either parent but one of the parents afford not to work? That's a wealth option. Yes, yeah.

Speaker 3

That's from a For those folks that have gone through all of those hurdles. I'm looking at two of them that have gone through that and come out very successful as well. Are there advantages Meaning are you stronger minded, right, or something of this sort? Do you find that there's better skills coming out of that or no? Is this a bad?

Speaker 2

this is a weird question but you get where I'm going with this. No, it's not a weird question.

Speaker 1

I did a talk on resilience and we talked about what breeds resilience and there's lots of things metacognition and lots of things are really important to talk about. One of the really important things is how much have you been through? And if you can reference back to oh, I've been through harder times than this right, that's the easiest way to be resilient. I did that. I can survive this right. So resilience is directly proportional to how much someone goes through and experiences. I think empathy is a muscle that you're gonna grow, because it's easy to see, when you almost don't make it, why someone else might not have made it, and that not being a reflection of their inadequacies or, um, in game build lack of capable. I think it's a really relevant consideration. I think the problem is that you never really know where you would have gotten without the barriers, so you can't really compare to who you would have been and I can't say whether it would have been better or worse.

Economic Divides and Unity

Speaker 3

In a way that's true for everybody Right have you ever seen the? Movie Sliding Doors with Gwyneth Paltrow. What was that, Mel? From like 1994? I have no idea. I think so. Yeah, I love that movie. Brady, do you know the premise of this movie?

Speaker 1

I don't, you'll have to tell me.

Speaker 3

You're like really, this is what we're talking about. So the premise of the movie is Gwyneth Paltrow. Basically, she takes one subway or she takes another subway, and depending on which subway she takes, her life just ends up completely different. Like it's that question of if I would have just taken path A, how would my life be different? The answer is that question, but it also begs an interesting question In order to gain empathy, or resilience too, do people have to go through hardship in order to get? That Is a different question. Curious about impact, so we talked about it at the individual, I am wondering how this might impact work, culture or impact a team.

Speaker 1

I'll say a light thing first, which is the birds of a feather thing again. Right, so teams are probably going to get organized around people they know and comfort level, and so birds of a feather, that's a very light thing. I think that as a culture, we are moving more and more towards what makes us different. It's all about this group and that group and you're not part of my group and my group group and that group and you're not part of my group and my group just got smaller today and you're not part of it anymore, and so as we move in that direction, this becomes part of it. It's one more thing that divides people. That's where you middle class or low class or upper class and do I trust you because of that or do I not trust you because of that? Does one group feel resentment towards the other or contempt towards the other? I see those things showing up. I don't want to speak to other people's experiences, but that's something that we see emerging. So that relates to teams, right, people who might not feel as comfortable trusting of each other, because it's one more divide that's getting between us.

Speaker 1

My bigger message on that and we could circle back to it later, but I don't know. I just said circle back. I know that's like the most hated term in corporate. We could talk about that again at a later time. But the real message is like there are so many things that divide us right now. How do we start unifying? Because this is an issue that impacts almost everyone in the United States. Like you can make arguments about oh, I'm upper middle class or middle class or lower middle class or dirt poor, or, but it's really just like the one percent and then everybody else. The differences are so severe and so substantial.

Speaker 1

And look, harvard ain't admitting that many people this year. Nor is Oxford, right, we're talking about small numbers of people in one camp. And look, harvard ain't admitting that many people this year. Nor is Oxford, right, we're talking about small numbers of people in one camp. And there's just so many other things that divide us today. And a lot of us have this in common, and it is again the single most impactful thing as to what our futures will look like, at least financially speaking, at least in terms of our wealth and accomplishments. We got a lot in common, and I think coming together is going to help a lot.

Speaker 3

You feel it in politics. This isn't a political statement by any means, but when you look at, for example, a lot of what the Trump campaign had run on, continues to run on, is this idea of you've been left behind economically and I'm going to be the person that's going to bring it back in. And then you have the Biden administration, which is looking at more, bringing everybody along. They're both an economic message coming from different places, but I feel like both of those messages are very different. They're very divided. So you have the politics happening with that kind of economic message. You also have technology, with AI, and we just got the job support, for example.

Speaker 3

I think, there's going to be a lot more fear around economics and the 1% and those that aren't. How do we move towards that common ground when it just feels like there are so many vices that are just pushing us further and further, apart from an economic perspective?

Speaker 1

I can sometimes sound like a super pessimist when I talk about the data, but this is actually something I'm quite optimistic about, oh, sweet, because we need some good news, because I'm like, I'm bummed, bring the good news please Look.

Speaker 1

At the end of the day, we have a lot that's working to divide us. Your point is exactly the right point and I'll put even, like a pin on top of it, who is the Trump administration speaking to and who is the Biden administration speaking to. They're talking about different economic problems, so I'll just put a label on it. I'll be the person.

Speaker 1

One might be talking about white male problems and the other might be talking about people of color problems, women problems, and the reality is the cake for all of us is getting smaller every year and has been since 1971. Under every administration Republican, democrat, doesn't matter. Congress controlled by Democrats, president, republican doesn't matter, matter Congress controlled by Democrats, president, republican doesn't matter. Every administration, the pie has got smaller for all of those groups. Now we're fighting over it in different ways and it might be getting split up in different ways, but it's getting smaller for all of us and has been consistently. And the reason I say I'm a bit of an optimist is one humans might be my belief, but I think most of us are empathetic and compassionate and believe in essential equality, believe in modern political terms. They talk about this kind of era as liberal equality what is?

Speaker 1

that, okay, there's all. So all political philosophy is underpinned by moral philosophy. So we start with a set of morality and then we build it into an idea, and utilitarianism was an idea that we should maximize the good for everyone. Right, and so it became a political movement that, under that kind of, helped destroy feudalism, because it was like this isn't the best for all. There's these three people at the top, or whatever. Unfortunately, we've come back around back to dead your servants.

Speaker 3

Okay, fantastic, that's good all right.

Speaker 1

So then we entered into this, this era, and there's some great works by a guy named Rawls and Dworkin great names to a theory of justice and and it's a lot of what we talk about today where they're like, hey, this is what it would ideally look like and a lot of people bought into this message.

Speaker 1

It's where a lot of these like pushes for equality and people shouldn't have these negative dispositions on them. Unfortunately, it hasn't really translated to our politics, but it is something we naturally feel. So I think there is both this sense in human beings that, like we innately have compassion, and there's this cultural zeitgeist that, like people fundamentally feel about what is right in politics, and so there's a lot of systems that are holding that back, but it is holding back something that is natural, something that is believed and accept and been felt by most people, like super majority of people, and so my optimism is look, the politicians are not going to lead us to the promised land here, like they are working to create divisiveness among us, and whether that's a conspiracy or what helps them get elected doesn't matter to me. They're not solving the problem.

Speaker 3

No, the data shows that yeah.

Speaker 1

Yeah, but we should be optimistic about the future because culturally we hold these beliefs and take off some of this kind of unnatural confusion and we're compadres. We're in the same journey, fighting for the same things.

Speaker 3

Yeah, I just feel like there's so much more that unites us than divides us instinctually and actually as well that it'd be. I am looking forward to seeing more of us leaning into that and not waiting for institutions to make that happen.

Speaker 1

I agree, and that's where it's going to come from. I think it comes from us as individuals, but a mentor of mine says he teaches leadership to, has the best selling books on leadership in the world and he really understands the topic. He said I've given up on politics. I gave up a long time ago. Any hope I have in the future is in business leaders stepping up, and so I think it's individuals and I think it's organizations that are hopefully going to move this message forward.

Speaker 3

There's a lot of organizations can do right.

Speaker 1

Yes, there is, especially when 96% of elections are won by whoever raised the most money.

Speaker 3

Yeah.

Speaker 1

And now about 80% of the money that goes into campaigns comes from businesses and super PACs. So there's a lot of the business community.

Speaker 2

Absolutely, absolutely so what measures can organizations start to take? One to identify the socioeconomic biases that they're upholding within their structures and systems and policies.

Speaker 1

There are some basic things right. Ditch the degree requirements, especially where they don't matter. You could say stronger programs around, don't take referrals, so maybe don't incentivize the referrals or put some policies in place to stop them. Obviously, I'm going to say gather human capability data to actually understand the people and look at what is effective instead of where people came from. Ask more about people's stories in the interview process and filter that information into how you're judging their responses. As an example to your case, mel, if they asked about your background, maybe they could have overlooked that you weren't in a suit, building stronger reskilling programs, thinking about people as people and saying you know what. You didn't get a two-year accounting degree, but you've got all the makings and we're going to invest in some people this year and get them skilled up. The upswing for companies is these are exceptionally loyal people. That's everything that we see in the data. So if you want to save a ton of money on attrition, invest it on these kinds of programmatic changes.

Speaker 2

I think that's such an important call out. I think organizations miss the forest through the trees because they're not going to see an immediate return on investment in some of these things or don't see the value of implementing some of these things. What role does leadership play here in addressing and reducing these issues in the workplace?

Speaker 1

Referencing Bill George leadership at Harvard for 23 years. He wrote the True North book series. I've had a beyond unbelievable opportunity to be mentored by him for 16 years, which came out of nowhere. It was one of these never should have happened things. But actually you know what I'm going to tell that story because I think it answers a bit of your question.

Speaker 1

So I was, he was doing a tour, talking to all these universities, and he came by a relatively not prestigious Seattle university and gave a talk. I skipped my class so that I could attend. I didn't know who he was, but the talk was on like ethical leadership and that was appealing to me. And so I went to this talk and I just challenged him in a polite way. I was if you're so good at business, like, why didn't you start your own? Why did you just become a CEO of a company that was almost a billion dollars and then make it a international 18 billion or something? At the end of his tenure grew at 23%, and he loved that. And so I went up after and I gave him my card and he was like oh, I'm so glad that you, that you came up, let's keep in touch. And I emailed him once and he never responded. I emailed him a second time he never responded. I emailed him a third time he never responded. I emailed him a fourth time and he was like I was waiting to hear from you, so good to hear from you.

Speaker 1

And two years later we went for a run together and he was like do you know why we're friends? And I said I have no idea. And and I had just passed him on the track and he was like do it one more time and I'll tell you. And he was a good runner, but mind you. But I looped him again and he said no one that I teach at Harvard will run.

Speaker 1

And so, in a way, he was looking for people that aren't normal, not what most of these leaders are surrounded by, which is people that they're very comfortable with, that don't challenge them, that just support their views, that just say gosh, you're the best person that I've ever met met. And I do want to say I'm sure there are some people at Harvard and not everyone is there with all these things that we're talking about. So I don't want to say anything negative about any institution, but the point nonetheless he was looking for something really different than what organizational leaders typically look for, and I think that's what we need to do. And this is the long way of moving back to that.

Speaker 1

96% of politicians win based on who raised the most money. So politicians aren't going to change it. It's on business leaders, and I think it's the defining issue of our time. So I think it's up to us. I think that business leaders have to look outside what's efficient, natural, comfortable in front of them and say this is an issue I'm aware of. What can I do about it in the day to day things that I do.

Speaker 2

When you think about business leaders presence throughout communities, it's massive. Your experience alone a lot of business leaders spend a lot of time on campus, where people are just beginning their journeys of career exploration. So even how they show up there or think of candidates differently, or interacting with students differently and having those conversations or being willing to give, I got to ask, though I'm sorry.

Speaker 3

I think we are absolutely not talking about the very important thing in that story is you had a card in undergrad.

Speaker 1

I didn't want to say anything Absolutely, and I will make even more fun of myself. I wore suits.

Speaker 3

Oh.

Speaker 1

I know.

Speaker 3

We're ending the conversation right now. Tell me more, tell me more, tell me more.

Speaker 1

I was working in the school cafeteria, I was overloading on my classes and I was trying to start a company, and so I was like, okay, I'm like, I am showing up to this game, I am working as hard as I can work I actually I don't even know how I did it these days but so I was like suit, I had a card for my company. I was like this is my dream, I'm going to go after it. That was me, and so this one other guy we joke now because we're both like super laid back and super I wear like Mandarin cut shirts and not normal. And we were the two like. We showed up in suits and we stayed friends and we're both like the opposite now oh, that's so funny.

Speaker 3

How did you know to do that? Like literally, how did you know to do that?

Speaker 1

or did you just free this up? Gosh, I didn't. I certainly didn't know how to do it. I struggled for such a long time. Yeah, I had no experience, no, no one to teach me at all. I did so many things wrong for so long. I guess it was just like I was just going to give it everything I had every day. But again, if I had been two years younger, none of it would have ever happened. It didn't matter that I had overloaded all my classes and still graduated magna cum laude and big gamma sigma and worked in the school cafeteria and didn't have enough money and started a business. None of it would have mattered. It wouldn't have been enough.

Speaker 2

Timing and luck are big components of, in addition to that ambition piece and the business cards, let's not forget the business cards.

Speaker 1

And don't underestimate the kids sitting in the suit in the business class.

Speaker 2

Wear your suits, class kids.

Speaker 1

Kids go in places.

Speaker 2

AI is the hot topic everywhere. What role does technology play in either holding up socioeconomic bias or eliminating it in the workplace?

Speaker 1

I think that totally has to do with what leaders do. I think it'd be very the technologies are becoming available. I'm working on them, other people are. It calls on leaders to not ignore the technologies that are becoming available, to recognize that they will get lower attrition rates, that they are going to save money, that they are going to get better people and that they're going to do good for the world all at the same time.

Speaker 1

And honestly, you mentioned AI and automation. Are some of my biggest concerns because throughout time, the conflict has been between labor and capital. All economics or models are built on this, and wages for labor has not matched productivity gains for 55 years now something like that and the problem with AI and automation is the power of the labor class to negotiate is getting pulled out from under them. It's been a concern. I think it is an increasing concern and I don't know how fast it's all going to change. But labor needs to negotiate now and get political influence now if we're going to live in something other than a dystopian altered carbon society in the future. Yeah, because yeah.

Speaker 2

It is a little scary Because, yeah, it is a little scary. Yolo, yeah, all for universal income. It's like figuring this out Because, to your good point, the room to negotiate is getting smaller and smaller and I think most organizations don't even know yet what this looks like for them. So it's like in five years time, what world are we going to be living in? Your company, Almas Insights, you are building technology. You have technology that helps remove inherent bias in resume review, referrals, interviews. Can you tell us more about that tech?

Speaker 1

Yeah, absolutely, and I'll give some thank yous here as well. So the essence of our technology is we put someone in a digital work sample for 45 minutes and they go through a variety of situations like you will experience in the workplace and demonstrate their preferences and behaviors and capabilities and how they respond and how they react and that's all cool, but that's not actually what we do. What we actually do is all the data on the other side where we say what kinds of people are being successful in this role at this organization, and that all happens automatically in the data. So a company just baselines it. The statistical significant things basically highlight in that and the machine learning algorithm matches that with people who are applying or people who already exist in that job who have also taken the measurement. So all of that becomes automated and it says this person is likely to stay with your firm for a long time If you hire them. This person is likely to be high potential in this role, and it's all objective data.

Speaker 1

But what we did and I think what proved to be one of the important aspects of how we approach this was we put it in a fully contextualized environment. So when I say digital work sample. I don't just mean situational questions. There are avatars on screen. You see what's going on. You have full context of the experience towards Deloitte and also the University of Washington. There was a validation study that doesn't eliminate all other biases, and it did so. Level of education didn't matter. What someone's current job was didn't matter they could be an Uber driver or a Deloitte consultant because they had so much context. And then people said, hey, this was like the most accurate thing that I've seen for a Sethi and myself.

Speaker 2

This is going to completely remove all bias about your match to this role and how powerful for talent acquisition to find the right people for the right jobs at the right time. That helps with workforce planning. That helps with so many things. So kudos to you, that's amazing.

Speaker 1

I'm excited about it. Vision here is, as you look at unemployment right and you look at some of these people who are very talented and on the fringe and being overlooked, having something that can give employers confidence and giving people like that opportunity is what the world needs more of.

Speaker 2

Yeah, that's huge and giving those people confidence as well. Totally brayden, we like to close out each episode with a rapid round. These don't have to be one word answers, but maybe one sentence, and it's just to get your like immediate reaction to some of these questions. How does that?

Speaker 1

all right, let's see.

Speaker 2

Okay, if you could change one workplace process or rule nationwide for everyone, what would it be?

Speaker 1

I guess I go to ban the degree or forget the degree thing.

Speaker 2

What's one book everyone should read on this topic.

Speaker 1

It's so hard. I would say, if they're interested in just the economics and reality of what's happening capitalism in the 21st century by pickety if they are interested in the political concepts, that we should probably be listening more to a theory of justice by rawls. And of course, I would be amiss to not mention I also have a book on the topic which is Twilight of the Idols, an American Story which gets into. How is this impacting, in particular, young American lives today?

Speaker 2

Yeah, we'll link to that. We'll link to that in the show notes for everyone. What's the biggest barrier to workplace equality?

Speaker 1

Two words, but downstream consequences. Tell me more equality Two words, but downstream consequences, tell me more. Yeah, well, so we can't start fixing it in the workplace? It starts with kindergarten, right? And so the downstream consequence of having someone, as we talked about, not confident, or having someone who couldn't get a college degree, or having someone, and then the downstream consequence on the other side of this is going to be the primary determinant of their children's future. It's a downstream consequence problem. I don't think we could just say the workplace fixes this.

Speaker 2

What was your first job and what did it teach you about socioeconomic bias?

Speaker 1

Working in the school cafeteria to pay for my college degree. That's my first like real job and people look at you different. That's what I learned. There's the kids who need to do that and the kids who don't need to do that, and I learned real quick that people look at you different when you are serving them their food. And it's just heartbreaking to know that.

Speaker 1

They're your peers. So it's like it's one thing if it's the local Taco Bell or something, but if it's like it's you and your classmates and they're out behind the cafeteria and you are behind the cafeteria, yeah.

Speaker 2

Yeah. What's one myth about this topic that you want to bust today for everybody?

Speaker 1

It's just the insignificance of it. It's that it is the single most determining factor of someone's future and we need to organize around that. We are in this together.

Speaker 2

What's one piece of advice you would give to your younger self? And we need to organize around that we are in this together. What's one piece of advice you would?

Speaker 1

give to your younger self. This one's hard, it's just hard feedback to give. But I think I would tell my younger self play the game, Don't lose your soul. And then give it all away. And I probably could have gone a lot further, a lot faster, if this didn't enrage me so much. But but I wanted to beat the system or prove it a different way. And the system is the way the system is. If you have influence, help break it, but you have to have the influence first.

Speaker 2

We're glad you were enraged because you're doing good things. Last question future of work. Are you optimistic or pessimistic?

Speaker 1

I think short-term, long-term, short-term pessimistic, long-term optimistic Pessimistic because what are the things happening and what is the direction they're going, but optimistic because movement towards public benefit, corporations, triple bottom lines, intentional communities which probably no one on this, or a lot of these people, are not going to be aware of.

Speaker 1

So I will just say there, these groups there's more than 10,000 in the world now. I had no idea how many, but there's like an example, twin Oaks in Virginia and it's a group of people, a couple hundred people that live and work together and they sell like tofu and hammocks and stuff like that. But everybody makes the same money, they all live comfortably, they have stipends they can spend on whatever they want, they have 600,000 in profit every year that they invest in their community and it's very much how indigenous tribes live. I had the opportunity to live with one for a couple of weeks, which is amazing. But there are all these models emerging where people are taking care of each other and thinking about business differently. We've never really seen culture sustain economic inequality as long as we are seeing here. So change is bound to happen, and hopefully really positive and really soon.

Speaker 2

Graydon, we're glad you are working towards helping to change that little by little in what you're doing, because eventually that will become what is it take one bite and suddenly the whole meal is done right, like it'll be a bigger impact long-term so excited to see it and we really appreciate you talking about this with us today.

Speaker 1

Thank you for the opportunity.

Speaker 3

Thanks so much for joining us today. Subscribe wherever you listen to podcasts. You can come over and say hi to us on the TikToks and LinkedIn community. Hit us up at yourworkfriendscom. We're always posting stuff on there and if you found this episode helpful, share with your work, friends, bye.

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Francesca Ranieri

Co-host
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Mel Plett

Co-host