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Disclaimer Show Me 50, Inc. is a 501(c)(3) corporation whose mission is to provide a platform to engage individuals in actions that level the playing field for women. We encourage individuals to actively collaborate with their companies to inform and implement a culture of gender equality that leads to the achievement of 50% women in senior leadership positions. Show Me 50, Inc. retains any and all intellectual property rights in these materials and requires the retention of the copyright mark on all pages reproduced. Show Me 50, Inc. is not able to independently verify information contained in this document. This document is provided solely for informational purposes and is not to be construed as providing advice, recommendations, endorsements, representations or warranties of any kind. Neither Show Me 50, Inc. nor any of its directors, employees or agents accept any responsibility or liability with respect to this document.
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Boss Presentation - Guide View Notes Page Version of this Slide
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Welcome
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IDEA + MOMENTUM x ACTION WITH PURPOSE = RESULTS 4
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Executive Summary 5 Despite decades of effort, women remain grossly underrepresented in senior leadership positions in corporate America. The business case for gender balanced leadership has been accepted more broadly in recent years. However, the vast majority of corporations have not implemented the changes required to eliminate gender bias and achieve representation at the top. Today, I am going to tell you about a change movement I’m joining to execute a win-win solution. Together with like-minded peers, we wish to collaborate with HR senior management to be catalysts for transformational change. We want to engage in building a timed roadmap for achieving gender balanced leadership. By supporting us, you can play an important leadership role in this public conversation.
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Senior Leadership in Corporate America Women remain grossly underrepresented Populate Source Here FemaleMale Senior Managementxx% Middle Managementxx% Admin/Technicalxx% Populate Source Here FemaleMale March 2014xx% March 2013xx% March 2012xx% Management Pipeline Board of Directors 6 Women in Management 1 51.5% Women CEOs 2 Less than 5% Women Board Directors 3 19% 1 Bureau of Labor Statistics http://www.bls.gov/cps/cpsaat11.htm 2 Catalyst http://www.catalyst.org/knowledge/women-ceos-sp-500 3 Catalyst http://www.catalyst.org/blog/catalyzing/disrupting-default-gender-diversity-corporate-boards
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Gender Diversity in Leadership is a Business Issue not a Women’s Issue By increasing women in leadership positions, companies can: Improve financial performance Leverage talent Better reflect the marketplace Enhance their reputation Increase innovation http://www.catalyst.org/knowledge/why-diversity-matters 7
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Studies show a correlation between gender diversity in leadership positions and improved financial performance ShowMe50 TM infographic. Data source: http://www.catalyst.org/knowledge/bottom-line-corporate-performance-and-womens- representation-boards-20042008 https://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=8128F3C0-99BC-22E6-838E2A5B1E4366DF 8 Catalyst (2011) found a connection between sustained high levels of women on boards and better performance on key financial measures Credit Suisse conducted a more recent study (2014) and found similar correlations. Companies with higher representation of women in senior management outperformed those with lower representation: higher returns on equity; higher valuations; and higher dividend payout ratios.
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“The closer that America comes to fully employing the talents of all its citizens, the greater its output of goods and services will be. We've seen what can be accomplished when we use 50% of our human capacity. If you visualize what 100% can do, you'll join me as an unbridled optimist about America's future.” - Warren Buffett Gender Diversity in Leadership Positions = $$$ ©2013. Time Inc. All rights reserved. Translated from FORTUNE Magazine and published with permission of Time Inc. Reproduction in any manner in any language in whole or in part without written permission is prohibited. Boost productivity Optimize 100% not just 50% From the pages of 9
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Leverage Talent 10 Research has shown that women outperform men on numerous leadership competencies. Companies should leverage female talent. A diverse climate and inclusive leadership styles reduce turnover. Employee satisfaction and engagement is impacted by satisfaction of how the company treats diverse people. Employee engagement depends on managers and effective managers are committed to diversity. ShowMe50 TM infographic. All data from: http://www.catalyst.org/knowledge/why-diversity-matters
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Better Reflect the Marketplace 11 Women are a significant part of the economy yet they are saying “you don’t understand me.” Too many companies continue to make poorly conceived products for women 1. Companies with women in leadership give a louder voice to women’s preferences in product development. ShowMe50 TM infographic. 1 Data from: http://www.bcg.com/expertise_impact/publications/PublicationDetails.aspx?id=tcm:12-39511
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Strengthen Corporate Reputation 12 Gender diversity in leadership is connected with 1 : better corporate governance and board oversight less unethical behavior increased corporate social responsibility ShowMe50 TM infographic. 1 Data from: http://www.catalyst.org/knowledge/why-diversity-matters All of which enhance corporate reputations
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Increase Innovation 13 Gender diverse groups have higher collective intelligence than homogeneous groups 1 A 2015 study confirmed earlier findings that more women on teams makes them smarter 2. ShowMe50 TM infographic. 1 Data from: http://www.catalyst.org/knowledge/first-step-link-between-collective-intelligence-and-diversity 2 http://www.nytimes.com/2015/01/18/opinion/sunday/why-some-teams-are-smarter-than-others.html?_r=1
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If all that is true, why don’t we have gender balanced leadership?
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Root Causes of Gender Imbalance in Senior Leadership 15
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So how can we achieve gender balance in senior leadership?
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We CHANGE the Landscape 17
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Introducing… 18
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VISION Achieve 50% women in senior leadership positions at America’s largest corporations. MISSION Provide a website platform to engage individuals in actions that level the playing field. Actively collaborate with companies to inform and implement a culture of gender equality for the mutual benefit of employees, customers, communities and shareholders.. A two-gender solution 19
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Core Beliefs Gender equality is a business issue – not a woman’s issue. Aspiration for 50% women in executive leadership positions one corporation at a time. No quotas – we believe in voluntary progress as a result of individual enlightenment and systemic change. Men are important stakeholders in the conversation. We seek and value their viewpoints and participation. Knowledge is power. Small steps by many can lead to big change. Change is needed now. We will show individuals how to make a difference in smart ways. Genuine collaboration between individuals and company leadership. Make gender intelligence cool! 20
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What Needs to Change Reliance on stereotypes which lead to unconscious bias at work 1 Unequal access to information and programs Exclusive, command-and-control cultures 1 Creating a Level Playing Field by Shelley Correll at LeanIn.org; video and discussion guide; http://leanin.org/education/creating-a-level-playing-field/ Current environment results in lower employee productivity and hurts our ability to innovate at the pace the market demands
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What Does Gender Bias Look Like? 22
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How Can We Change It? Create motivation to act through the website and social media Provide ability to execute through seven toolkits 23 1.Introduction and Overview 2.Gather Facts About Your Company 3.Learn About Gender Bias 4.Learn to Influence Change 5.Build a Coalition 6.Talk to Your Boss and HR 7.Sustain Momentum Use the ShowMe50 TM Win-Win Checklist as a guide for building timed roadmaps in collaboration with HR
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ShowMe50 TM Win-Win Checklist Optimize 100% of the Workforce Who wins? Employees, Customers, Communities, Shareholders 1 Catalyst: Beyond Flexibility, Work-Life Effectiveness as an organizational tool for high performance; 2008. Education of employees and managers about stereotyping and gender bias Objective and transparent performance evaluation and talent management systems Work-Life Effectiveness (WLE) approach to workplace flexibility 1 Accountability 24
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Education of Employees and Managers About Stereotyping and Gender Bias 1 Provide skill based training 2 to educate managers about stereotyping Teach techniques to override automatic tendencies to use stereotypes, learn to recognize the conditions that place them at risk for stereotyping and have opportunities to practice interacting with people who are different from themselves Equip employees with skills to self-monitor their perceptions Implement a system of checks and balances to safeguard against stereotypic bias 1 Adapted from Catalyst: Women Take Care, Men Take Charge: Stereotyping of U.S. Business Leaders Exposed 2 Skill-based training demonstrates and explains the desired behavior then requires sufficient in-class practice and coaching time. It engrains skills to recognize and self-correct bias after leaving the class. 25
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Objective & Transparent Performance Evaluation and Talent Management Systems Partially adapted from Catalyst: Women Take Care, Men Take Charge: Stereotyping of U.S. Business Leaders Exposed and A Bright Spot Case Study: How Diverse Slate Policies Help Close the Gender Gap Clearly define and communicate performance evaluation and candidate job selection criteria Create explicit decision rules about how evaluation criteria are weighted and applied for performance evaluations and candidate job selections Post and effectively communicate all jobs internally Implement diverse slate policies Utilize panels of diverse, bias-trained interviewers for candidate selection Publish career development programs and their qualifications 26
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Catalyst on Talent Management http://www.catalyst.org/knowledge/cascading-gender-biases-compounding-effects-assessment-talent- management-systems Create opportunities for senior leaders and employees to engage in interactive dialogues about talent management Create strategies that increase development and advancement opportunities for women Develop targeted programs based on the unique needs of each business unit 27
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Establish work practices that create business agility including flextime, job sharing, and telecommuting Use employee needs, interests and concerns about burnout as a catalyst for creatively designing work Give employees with significant parental responsibilities more time to show they’re qualified for promotion Establish alumni programs for women who need to step away from the workforce; tap their expertise to show that returning is possible Work-Life Effectiveness (WLE) Approach to Workplace Flexibility Adapted from Alice H. Eagly and Linda L. Carli, Women and the Labyrinth of Leadership and Catalyst: Beyond Flexibility, Work-Life Effectiveness as an organizational tool for high performance. 28
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29 Accountability Demonstrate a commitment to diversity and inclusion and to increasing the percentage of women in senior leadership positions though the visible and vocal personal actions of the CEO and his/her direct reports Commit and sustain financial resources to internal employment diversity programs and culture change efforts Hold senior management accountable for diversity within all business activities and evaluate managers based on their ability to achieve diversity goals for senior leadership representation across all business units Show results: move statistics meaningfully toward achieving 50% women in director and above positions
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ShowMe50 TM Supporters are Growth Catalysts We want our companies to earn more profits! Our ideas, our leadership and execution styles bring diversity of thought, innovation and earnings growth. 30
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Next Steps and How You Can Help Continue our dialogue to better understand the current state including recent progress and how to leverage it Participate in the development of a roadmap and timeline for improvements Engage in authentic gender-intelligence dialogue Model inclusive behavior and influence 360 ◦ accountability Encourage others to learn more at ShowMe50.org 32
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IDEA + MOMENTUM x ACTION WITH PURPOSE = RESULTS 33
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BACKUP 34
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