Why Women At The Top Are Good For Business
Despite all the recent attention being given to this relevant topic, the statistics are stark and still somewhat depressing!
- Only 7% of Fortune 500 companies are led by women
- In 2020, a mere 17% of board seats globally were held by women
- When compared to men, women are 22% less likely to reach manager level or above
Business leaders state that they recognise and are committed to gender equality, yet less than 30% of companies have set measurable #goals and #targets linked to timescales. There is a growing mountain of research connected to this topic from the likes of HBR, which supports good news!
- That 30% of female leadership drives a +15% increase in profit
- Organisations that have the highest share of women in leadership achieve 41% better return-on-equity and 56% better operating results
- Organisations with 10% of female managers drive up to 40% higher sales than those with 5% representation.
- Having at least 1 woman in a senior leadership position, increases the chance of women advancing through the organisation by 23%.
Even the ‘Oracle of Omaha’, Warren Buffett is behind this movement. In his 43rd annual letter to shareholders in February 2020, he supported #WomensEmpowerment on the board.
So let’s stop talking about this issue and start acting instead. But before I reveal how to tackle this hot topic in my next post, what successful initiatives have you deployed to take advantage of the benefit of women in management?