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2018 STS - How Changing Your Company’s Values and Hiring Practices Can Lead to Greater Success
The document discusses the importance of changing hiring practices to increase the representation of women in leadership roles, emphasizing that companies with more female executives experience higher financial success. It identifies barriers women face in the workplace, such as lower negotiation rates and societal perceptions, while highlighting the need for flexible workplace policies and mentoring opportunities. The overall message advocates for recognizing and valuing women's contributions to improve organizational outcomes.
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2018 STS - How Changing Your Company’s Values and Hiring Practices Can Lead to Greater Success
- 1. How Changing YourCompany’s Values and Hiring Practices Can Lead to Greater Success Kim Yeager Marcia Taylor Ellen Voie
- 2. [email protected] Ellen Voie, CAE President/CEO WomenIn Trucking Association, Inc. How Changing Your Company’s Hiring Practices Can Lead To Greater Success
- 3. Why your companyneeds women in leadership. “The closer that America comes to fully employing the talents of all its citizens, the greater the output of goods and services will be.” Warren Buffett
- 4. • There isa correlation between high level female executives and business success. Roy Adler, Pepperdine University • Firms with the best records for promoting women outperform industry medians with overall profits 34 percent higher. Harvard Business Revue • Companies with the highest representation of women leaders financially outperform, on average, companies with the lowest. Catalyst Research • Women in “nontraditional” careers often earn as much as 30 percent more than those in “traditional” careers. US Dept. of Labor Why do we want more women leaders?
- 5. • Women makeup 47% of the labor force • 57% of all women 16 years and over were in the labor force, compared to 69% of all men. US Dept of Labor Are women a minority? • Women make up a majority of university graduates. • Women make up to 80% of consumer purchases. • Women entrepreneurs account for 70% of new business startups. “Why Women Mean Business” Wittenberg-Cox & Maitland
- 6. • Diversity istoo often about making minorities comfortable with a dominant norm. • Women don’t need “fixing.” “Why Women Mean Business” Wittenberg-Cox & Maitland Women as a minority?
- 7. How are wedoing? Global Gender Gap USA Ranks 45th Notable Ratios: Wage Equality .66 College 1.37 Life Expectancy 1.01
- 8. How are wedoing? Women represent 4.0 percent of executives on Fortune 500 list. Total: 21 female executives A drop of three in the past year. Women comprise 19 percent of board seats Publicly Traded Companies in US. Ten percent in the trucking industry.
- 9. Benefits in hiringfemale leaders Managers are responsible for 70 percent of their employees engagement. 41 percent of female managers are engaged at work. 35 percent of male managers are engaged at work. Higher engagement levels result in higher performing work groups. Gallup Business Journal, October 16, 2014
- 10. Why are womenoften “power reluctant?” • Push VS Pull: Men who want power push for it. • Women often need to be coaxed. “Why Women Mean Business,” Wittenberg-Cox & Maintland • Women do not negotiate salary or benefits as often as men. Babcock and Laschever, 2003, Princeton University Press • Men typically oversell their abilities, while women undersell theirs. Alex Tosolini, Proctor & Gamble. • Women avoid power structures and hierarchy. • Women do not enjoy self promotion. Deborah Tannen, “Talking at 9 to 5: Women and Men at Work” What are some of the challenges?
- 11. What are someof the challenges? Must women act like men? • Hanging out with the men often prompts sexual innuendoes. • Leadership selection is subjective and often leans toward hiring someone who “looks like you.” Susan Vinnicombe, Crainfield University International Center for Women Business Leaders • Twenty five percent of women believe they need to dress like men (pant suits versus skirts) to be treated seriously. • Half of women are afraid to show their true emotions. • Twenty percent of women believe they need to be ruthless to get respect. Survey of 2,000 women by British telecommunications firm 02
- 12. What are someof the challenges? Women with job authority have more education, higher incomes, more prestigious occupations and higher levels of job satisfaction….and worse mental health than lower status women. Why? When women display assertiveness and confidence they are judged negatively for being unfeminine. This contributes to chronic stress. “Gender, Job Authority, and Depression,” Journal of Health and Social Behavior, December 2014.
- 13. Are there Biologicalreasons? • Yes! • Women activate the amygdalae (the brain’s fear center) more easily than men. • Women are driven by estrogen (men by testosterone) and estrogen encourages bonding and connection and discourages conflict and risk taking. • Testosterone encourages a focus on winning and demonstrating power. Women who were given testosterone were less able to collaborate. • “Closing the Confidence Gap” Kay & Shipman, The Atlantic.
- 14. What are someof the challenges? Is motherhood a deterrent? Childless women are six times more likely to be recommended for hire and offered $10,000 more in salary than their peers with children. Cornell University, 2007 49 percent of women earning over $100,000 are childless. Center for Work Life Policy, New York The US is the only developed country that does not offer paid maternity leave. Single women without children between the ages of 22 and 30 earn more than their male counterparts of the same age. Women In Leadership, US Chamber of Commerce Foundation.
- 15. Did you know? Speakingwhile female…. Male executives who spoke more often than their peers were rated 10 percent higher in competence. When female executives spoke more than their peers, both men and women gave them a 14 percent lower rating in competence. Yale Psychologist, Victoria L. Brescoll research, Quoted by Sheryl Sandberg and Adam Grant, Op-Ed Piece in New York Times.
- 16. “White male valuesare about risk-taking, short-term gain and a focus on the individual, female values tend toward risk– awareness, the long term and team goals.” Halla Tomasdottir, Icelandic Fund Manager Should we use different terms to attract women?
- 17. Did you know? Womenapply for open job positions if they believe they can respond to 100% of the criteria. Men respond as soon as they feel they meet 60% of the requirements. Hewlett Packard research I think I can!
- 18. Did you know? MaleCEOs who have a daughter are found to be more generous and caring in the workplace… ….and increase female employee wages. Female’s salaries increased 1.1 percent when the boss and his wife had a baby daughter compared to .6 percent for male employees. Research, Aalborg University Economics Professor Michael Dahl
- 19. Are there barriers? Womendo not negotiate their salaries…. Babcock and Laschever, 2003
- 20. Are there barriers? Menare promoted based on potential…. …. Women are promoted based on accomplishments. 2011 McKinsey report
- 21. What do womenwant? To make a difference. To be challenged. To believe in the company’s mission. A sense of satisfaction in their team. Recognition. 516 Women surveyed by Aspire, a UK Coaching & Leadership firm Women WANT leadership roles. Women DON’T like promoting themselves. Women feel that good leaders should be able to spot talent. Professor Susan Vinnicombe, Cranfield University International Center for Women Business Leaders
- 22. HELP WANTED How attractive isthe company image to women?Are we really recruiting women?
- 23. What are someof the solutions? What can women do? • Positive affirmation: I can do it! • Learn to handle criticism. • Savor positive moments. • Speak up! • Take credit and accept praise. • Learn to say “no” to unnecessary requests. • Ask for raises and promotions. • Don’t expect perfection. • Be confident. • Take risks.
- 24. What are someof the solutions? What can my company do? • Workplace flexibility. • Benefits (onsite childcare, maternity leave) • Mentoring opportunities. • Networking opportunities (Lean In Circles) • Gender-neutral work environment. • Value women’s contributions. • More women as visible leaders. • Create targets for women in leadership roles. • Make managers accountable for promoting women.
- 25.
Editor's Notes
- #14 The amaygalae is described as the brain’s primitive fear center. Women are more likely than men to form stronger emotional memories of negative events. (Women are worrywarts.)
- #19 That could be because becoming a father alters an executive’s view, particularly toward women, the paper suggests. Previous research shows men’s esteem for their wives often rises when they become mothers and this shift may nudge male executives to also view their female employees as more competent, the authors note. Other studies have also shown that men sometimes care more about other people’s well-being after fathering a daughter.