Submitted by afiorino on Mon, 02/08/2010 - 11:07am
The issue of women's leadership in corporations is of widespread concern. We believe America's leading companies must move faster to improve the representation of women in positions of leadership. At a time when public companies have drawn intense scrutiny for lapses in corporate governance and failures in leadership, they can ill afford to ignore the talent and perspective available in half the population and nearly half the work force.
The fund will invest in companies demonstrating ‘best practices’ with regard to gender diversity. The aim of the fund is to achieve an above-average return by investing in companies that do a superior job attracting and retaining diversity of talent. The study with Heidrick + Struggles found that gender diversity is the most influential socially responsible investment determinant of higher ROA.
Organization that takes a very international approach to work with others to move from 20th century mindsets, management styles and marketing approaches to more progressive 21st century forms -- this time including women.
OECD projections suggest that in just eleven years, seven out of ten graduates will be women in many countries across the world. It is crucial that men recognize that gender balance and the encouragement of women is a business imperative in today’s tough times.
This special report from DDI’s Global Leadership Forecast 2008/2009 is a bi-annual study that measures the impact of leadership development initiatives around the world. The study included data from more than 12,000 leaders from 76 countries. Research revealed the following: female leaders are under-represented in accelerated development programs (like high potential programs and one-on-one mentorship) are secret or happen behind closed doors, organizations aren’t held accountable for gender balance; and, having women represent in significant numbers at every leadership level doesn’t mean that will carry to the executive level– in fact, there is a backlash again women at the top when they are dominant in leadership roles at every other level.
We show that female directors have a significant impact on board inputs and firm outcomes. In a sample of US firms, we find that female directors have better attendance records than male directors, male directors have fewer attendance problems the more gender-diverse the board is, and women are more likely to join monitoring committees. These results suggest that gender-diverse boards allocate more effort to monitoring. Accordingly, we find that CEO turnover is more sensitive to stock performance and directors receive more equity-based compensation in firms with more gender-diverse boards. However, the average effect of gender diversity on firm performance is negative. This negative effect is driven by companies with fewer takeover defenses. Our results suggest that mandating gender quotas for directors can reduce firm value for well-governed firms.
A new approach to leadership can help women become more self-confident and effective business leaders. Women start careers in business and other professions with the same level of intelligence, education and commitment as men. Yet comparatively few reach the top echelons. With this in mind, the McKinsey Leadership Project, an initiative to help professional women at McKinsey and elsewhere, set our four years ago to learn what drives and sustains successful female leaders