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What's the advantage of having women on your executive team? It's not just about doing the "right" thing, or being politically correct. Having at least 3 women on your executive team can significantly increase profitability and equity return.
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Focus on Women in Leadership
Presentation to Diversity Training Team
July 24, 2009Jean M. Baker, J.D.
Introduction
The Information – Why Women are not Represented in Leadership Positions› Salaries, Stereotypes and Stepping Up
Why You Should Care› It’s not just about doing the right thing
What Companies Can Do What Women Can Do Summary
The Info
Salary
› Whether hourly or salary, women (in Iowa) are paid just under 22% as much as men
The Argument
Women are in fields that traditionally pay less than the fields men occupy› But – even within industries, and even
within industries that are traditionally female (i.e., education), men are paid more
>
The Info
Salary› “Lower pay for comparable work sends a
very clear message: This organization does not value the work of women as much as it values the work of men.
› The more devalued a woman feels, the more likely she is to leave the organization, taking with her talent that can be very difficult to replace.”
The Info
High Potentials› Among executives, 50% more men than
women are identified as high-potentials› Quotas do not benefit the individual or the
organization Women don’t have “presumption of
competence” that men enjoy
The Info
Mentoring› Encourage women to be more proactive in
seeking new positions Women – apply if feel 100% qualified Men – apply if feel 60% qualified
› Why? Women have to work significantly harder to be seen as equally competent
The Info
Stereotypes/Biases› Women are not visionary› Women won’t accept international
assignments› Women are too emotional
Why You ShouldCare
Bottom Line› Firms that have 3+ women in senior
management scored higher on all dimensions directly linked to financial performance than firms with no women at the top Increased profitability and equity return to
shareholders
What Can Organizations Do?
Do Formal, objective assessments/ succession planning› Assess performance equally by focusing on
task and results› Carefully evaluate talent development at
all levels (recruitment, development and promotion)
Provide women with mentors
What Can Women Do?
Let the organization know you want to move up
Don’t wait for opportunities to be handed to you – be proactive
Know your strengths and play to them (don’t try to be “one of the guys”)
Focus on results – abilities vs. status/stereotypes
Summary
Women are making progress – but slowly
To get to the C-suite, need more access to “high-potentials” development, including mentoring
Organization will be more profitable with a balance of talented men and women at the top.
