more women leaders, better corporate social responsibility june 26, 2012
TRANSCRIPT
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More Women Leaders, Better Corporate Social Responsibility
June 26, 2012
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Outline
• Background• CSR
– Terminology– Basic Understanding
• Women Leaders• Better Everything
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Background
More Women Leaders
Better Corporate Social Responsibility
• Better corporate social responsibility increases women in the workplace therefore increase opportunity for women leadership
• More women leaders, better economy and better society
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What is CSR?
Definitions• Responsibility is the choice we make to respond with
care
• CSR is the way in which business consistently creates shared value in society through:– economic development– good governance– stakeholder responsiveness and – environmental improvement.
• CSR is an integrated, systemic approach by business that builds, rather than erodes or destroys, economic, social, human and natural capital
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What is CSR?
“CSR should be more about the process of wealth creation, and ultimately eliminating the need for donations”
When talking about CSR we DO NOT mean:
• Charity• Philanthropy
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What is CSR?
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Unequal male & female labor force participation – Largest gap in comparison to every other region
Diversity - Current Situation
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McKinsey conducted a series of studies examining whether greater gender
diversity correlates with better economic performance.
Study 1 - Women’s positive impact on financial performance• 89 listed companies* with highest level of gender diversity in top
management posts were selected & compared to average of their sectors
• On average, these companies with higher ratio of women in top management experience better financial performance
• Companies with more than two women present on board outperform others in their sector: o return on equity (11.4% versus 10.3%)o stock price growth (64% versus 47% from 2005-2007)o operating result (11.1% versus 5.8% in earnings before interest &
taxes)
Women Matter, McKinsey & Company, 2007. * Companies were selected from all European listed with stock market capitalisation of over €150 million on following criteria: i. number & proportion of women on executive committee, ii. their function (eg. CEO or CFO had greater weight than Communications Manager), iii. Presence of more than 2 women on board
Value of gender diversity – Financial Performance
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Firms with best record of promoting women to high positions are more profitable than their peers:
• Returns on assets 18% higher than industry median
• Returns on investment 69% higher than industry median
Women on Boards: Not Just the Right Thing… But the Bright Thing. The Conference Board of Canada, May 2002
Value of gender diversity – Financial Performance
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Value of gender diversity
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How many female board of directors do we have?
8 in listed companies
No data with respect to SME’s and other informal businesses
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More Women Leaders
• Better everything. . .
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More Women Leaders Better Corporate Social Responsibility
• Stereotyping. . Women are better at CSR than men?
• Through CSR tools such as increasing diversity in the workplace increase women leadership
• Through Corporate Governance increase diversity in decision making roles increase women leadership
• Through sustainability have better organizations with balanced gender and skills with the right people in the right place. . Often increasing women leadership
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