can women save the economy
TRANSCRIPT
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Can Women save the Economy?
Isabella Lenarduzzi
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JUMP supports companies and organisations that wish to promote better gender diversity within their management.
JUMP offers women practical tools to help them realise their
professional and personal aspirations
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Sex: biological indicator that is based on reproductive organs, and cellular and hormonal functional characteristics. Gender identity: to feel as a man, a woman, or other
Genre : socially construct, a result of continuous transactions and complexes originating from infancy environment, based on imposed factors of femininity and masculinity
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Sex or gender?
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Stereotypes
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Global Gender GAP (World Economic Forum)4 fields: education, health, economy and politics
Iceland /Finland /Norway / Sweden
Ireland (5)/ Switzerland (8)/Denmark (14)
Belgium – 19°
France (15)/ NL /D(11) / UK (18)
Canada (30) / USA (28)
Luxembourg (32) - Portugal (39) Italy (41) – Greece (87)
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Women’s energy and talent are the most
untapped renewable sources of energy in the
world!
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Europe : 59% of university degrees are earned by women
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Talent Pool
Gender pay gap
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Part-time working in Belgium
45% women // 9,5% men
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Fill in skills shortages on
the labour market
Preserve the european
social security system
Companies increase
performanceGDP increase
The case of Gender Equality
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Still a long way to go!
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European figures
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The business case for women maintains that companies that have diversity and manage it properly make better decisions, produce better products, and retain several key business advantages over more homogenous companies.
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More performance
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The business case for women maintains that companies that have diversity and manage it properly make better decisions, produce better products, and retain several key business advantages over more homogenous companies.
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Equality = more performance
© McKinsey & Company
Verified Non available- Not verifiedCompanies with 0 women in executive committeein that specific sector
Companies in the top quartile for the women representation in executive committee vs. sector1
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Most executives recognise the impact of gender diversity on financial performance, but more women than men and more C-levels than middle managers
© McKinsey & CompanyConvinced Not convincedDon't know
C-level (CEO, COO, CFO, etc.)
15
6
23
4100
Women(n=233)
90
Men(n=212) 10062
+27
n=445
Middle management
22
9
28
6Women(n=276) 85
Men(n=188) 50
+26
n=464
Much research has shown that companies with diverse leadership teams that include significant numbers of women generate higher financial returns. Do you believe this to be true?
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A total equality within the European Union could bring a 27% increase of the GDP
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Women in executive committees (2011)
19
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Women on boards – end 2014
20
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Glass ceiling or leaky pipeline ?
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Organisational pyramid
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The disparity of female business leaders has not narrowed significantly
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Gender diversity in top management varies by industry
2010© McKinsey & Company
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9
10
10
13
14
15
16
16
Real estate and infrastructure
Transportation, logistics and tourism
Energy, basic materials and environment
Diversified Industries
Healthcare
Science and technology
Finance, insurance and professional services
Telecom, media and entertainment
Consumer goods and retail
Womenin executive committeesPercent
Women in boardsPercent
8
9
7
6
8
13
11
11
12
Number of companies
41
30
68
14
9
81
96
18
14
41
28
66
13
8
75
92
18
13
Notes: Proprietary database; 441 companies within the local reference index: Norway (OBX – 25), Sweden (OMXS – 29), France (CAC 40), Germany (DAX 29),Spain (IBX 35), Russia (RTSI 50), Brazil (Bovespa 52), China (SSE50), India (Sensex 30). For the UK, data from the Cranfield University “The Female FTSE Board Report 2009” (FTSE 100). For executive committees: selection of the 362 companies which disclose their executive committee members
How do we use the biggest talents pool?
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Actions promoted by governments
“The quota law has opened boardrooms to an extent that we’ve never seen before,” Mari Teigen, research director, Norwegian Institute for Social Research
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NorwayNorway was the first country in the world to implement board quotas Numbers of women on corporate boards have risen from only 6% in 2002 to over 40% today.
"By not utilising the full talent pool I knew Norway as a nation was missing out. My ambition as a Minister was to force companies to rethink their board recruiting practices. I believe we succeeded," Ansgar Gabrielsen (Former Minister of Trade)
“We have invested billions educating our daughters as much as our sons,” Gabrielsen said. “Their ongoing exclusion from corporate boards, which are an important part of our society just doesn’t make economic sense”
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Initiatives
With the legislation on equality in Belgium, the proportion of women in parliaments has risen more than 20% in ten years
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Change in companies’ culture
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Building a whole gender-diversity ecosystem
© McKinsey & Company
Developing women as leaders…
Mentoring
Training and coaching
Networks and role models
CEO and executive team's visible monitoring of progress in gender-diversity programsCEO commitment
HR processesand policies
Gender-diversityindicators Infrastructure
… supported by collective enablers
GENDER DIVERSITY ON TOP OF THE STRATEGIC AGENDA
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Implementation of gender-diversity measures remains low, and even lower for SMEs
© McKinsey & CompanyPercent, 2010, n=1,5341, mid-level and up respondents only
32 37 3620
3839 40
36
No specific measures
1-3 measures
4-5 measures
6 measures or more
More than 20,000 employees(n=429)
9
Less than 500 employees(n=583)
177
Total(n=1,534)
17
13
20
24
Between 500 and 20,000 employees(n=522)
15
2.5 2.0 2.2 3.5
Average numberof measures implemented
Number of measures undertaken in the past five years to recruit, retain, promote and develop women
1 Does not include the respondents who did not know which measures were implemented in their companies
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Negative factors
Factors most likely to prevent women from advancing
• Work-life balance• Lack of executive sponsor • Willingness to relocate • Limited social network and connections• Confidence
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ObstaclesProuvez le encore une fois! Les femmes doivent prouver leur compétence à chaque fois, là où les hommes bénéficient du bénéfice du doute.
Sur la corde raide Les femmes sont obligées de choisir entre être appréciée ou être respectée.
La maternitéAprès une maternité, les femmes sont automatiquement considérées comme moins impliquées dans leur carrière et moins mobiles.
Lutte acharnéeQuand il y a peu de place au top pour plusieurs femmes, certaines entrent en compétition au lieu d’être solidaires.
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Role expectation theory
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Men and Women Offer Employers Different but Equally Important Skills for Driving the Business
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JUMP survey on leading women
• 95%: As leaders, women bring different but complementary skills
• 71%: Companies do not place a high enough value on women skills
• 60%: Corporate training / development do not take into account women’s learning preferences and styles
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JUMP survey on leading women
• 72%: Men’s opinions are respected more than women’s for key decisions
• 69%: Women are still not recognised and promoted on an equal basis skills
Some companies recognise the value of having women in senior positions, but not all of them take active measures to change the status quo.
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Work and family responsibilities should be completely shared
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3 career advices to womenby Sheryl Sandberg COO Facebook
1. Seat at the table
2. Make your partner a real partner
3. Don’t leave before you leave
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Beyond the gender difference: every individual has a “feminine” side and a “masculine”.
Today’s leader knows how to value both of them!
The war of sexes is over.
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What’s good for women is also good for men.
Women will be able to save the economy with conscious Men.
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Wo.Men, Work, World:
the unfinished revolutionIT’S TIME TO CHANGE!
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Isabella LenarduzziFounder and Managing Director of [email protected]
+32 3 346 32 [email protected]