Gender diversity in organizations
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This document discusses gender diversity in organizations. It provides several facts and statistics showing that while many organizations aim to increase the number of female employees at mid-levels, very few see increases at executive levels. Research shows gender diverse companies outperform those that are not, and diversity can significantly boost economic growth. However, barriers remain like lack of flexible work arrangements and support for women, especially in negotiating compensation and rising to leadership. The document examines benefits of diversity and key factors important to retaining women, such as leadership programs and mentoring, though organizations often fail to provide these.
Gender diversity in organizations
- 1. Gender Diversity in Organizations Ruchi Bhatia Twitter - @rucsb
- 3. Feminist (The Realist ! ) says it like it is !
- 4. Facts – Gender Diversity Around 40% organizations anticipate more female employees at the mid level in their workforce, however; only 5% see a rise in number of women at CXO levels reveals the latest Times Jobs study on gender diversity in India 40% organizations are doing it access wide talent pool 25% are doing it to improve business performance 20% surveyed organizations said they are doing it to enhance corporate reputation/brand image 10% are doing it for better corporate governance 5% are doing it out of compulsion as they are pressurized to take it up by internal and external stakeholders
- 5. Facts – Gender Diversity Gender Diversity can lead to a sizeable additional economic growth and could add $700 billion to the country’s GDP in 2025 (McKinsey Global Institute, 2015). Report - The Power of Parity: Advancing Women’s Equality in India, claims that this economic impact could translate into incremental GDP growth of 1.4 per cent per year for the country. Bridging gender gap would also add $12 trillion to global GDP in 2025. For every 100 girls that even enroll for education, just about 47 or so reach the high-school level. And then, when you talk of graduation and post graduation, the number drops to may be 15,16. And then, not just that, it’s also believed that, even out of the workforce-ready women, about 75 to 78 per cent do not join the organized workforce. Morgan Stanley Research study finds highly gender-diverse companies outperform low gender-diverse companies. Women are ambitious and confident of their ability to become top managers but they are unsure if their company culture can support their rise. ( McKinsey report)
- 6. Business Benefits Business Benefits of Gender Diversity , hence many executives root for a more gender diverse workforce. Diverse Teams perform better than single gender ones by enabling different viewpoints, ideas, and market insights. These together lead to better problem solving and superior performance. Diverse teams help companies to serve a growing diverse customer base better – Gallup Study Organizations which have higher level of women leadership, had 30 per cent higher return in equity and 34 per cent higher total return to shareholders. Not only this, across the consumer industry 70 to 80 per cent of all bank transactions are influenced by women Gender Diversity is linked to better shareholder returns.
- 7. The Catch
- 8. Some More Research Findings Women still don’t change jobs for High Compensation – research Women feel they are less supported than men at home, (McKinsey). Women don’t negotiate for compensation even when they are deserving – research Working Women must learn negotiation tactics and enroll in a negotiation course. You know what, it doesn’t end there. So Women who learn to negotiate are not liked by colleagues at workplace - Damn if you do, damned if you don’t.
- 9. What Really Matters to Women? Leadership development programs’, mentoring and networking opportunities’, ‘sensitization of managers to gender’ ‘flexible work arrangement’ and ‘assistance in the form of leaves’ Company providing ‘child care facilities at the workplace’ ‘internal women forums’ Respondents in a survey see lack of flexible work solutions, work-life balance and lack of an inclusive work culture as important barriers hindering women from rising to the top.
- 10. Key Findings from Women Survey Lack of adequate re-entry opportunities (29%) is a problematic area. However, only 2% of organizations provide for reintegration programs. 85% respondents feel that leadership development programs are key retention measures for women. However, only 22% respondents claim that their organizations provide such programs. Mentoring and networking opportunities is another key measure to retain women, state 81% respondents. However, only 28% respondents claim that their organizations undertake this initiative. 62% respondents claim that having an internal women forum is an important retention factor for women. However, only 33% respondents claim that their organizations have such a forum.
- 11. CEOs outlook to Gender Diversity Only 16% of CEOs actually have the gender inclusion agenda as part of their scorecard. The results show that organizations are not allocating their budgets, resources and targets to support the mandate on gender inclusion. Data shows that only 14% organizations have budgets and resources allocated within their organizations to drive this mandate. In a survey done by Dell - “Men have the potential to be powerful ambassadors for implementing many diversity and inclusion initiatives, as well as influencing other male peers to support gender initiatives
- 12. Companies awarded for Gender Diversity Citi, Deliotte, L'Oreal , P&G, Intel, Accenture, IBM, Johnson and Johnson, GE, PepsiCo, Microsoft , Ernst and Young, Novartis, PwC to name a few