Women are bringing a much needed source of emotional intelligence to the top table and as a result improving a board's ability to innovate, make consensual decisions and connect with customers and staff. This is according to a survey by Inspire, the business network for senior board level women supported by Harvey Nash.
The survey, completed by 326 board-level executives across 19 countries and part of Inspire's Return on Diversity report, revealed that almost two-thirds of respondents (64%) believe women are bringing a greater level of emotional intelligence (EI) to the board which in turn brings greater cultural understanding (91% believed better EI boosted the board's ability in this area), better board consensus (80%) and greater creativity and innovation (75%).
The report by New York-based GMI Ratings, a corporate governance consulting firm, is based on an analysis of salaries of more than 1,900 CFOs at Russell 3000 Index (RAY) companies with a market value of $100 million to $25 billion in 2010. About 150 of the CFOs were women.
“There is real discrimination, but nobody wants to deal with it," said Eleanor Bloxham, CEO of Value alliance Co. Female CFOs received on average $1.32 million a year in total compensation, compared with $1.54 million for their male counterparts, according to a model based on the analysis. Compensation included base salary, bonuses, grant-date value of stock awards and stock option grants and retirement benefits.
The firm said its model accurately predicted a CFO’s gender. The lower the salary, the more likely the CFO would be female.
Little is known about how socioeconomic characteristics of executive teams affect corporate governance in banking. Exploiting a unique dataset, we show how age, gender, and education composition of executive teams affect risk taking of financial institutions. First, we establish that age, gender, and education jointly affect the variability of bank performance. Second, we use difference-in-difference estimations that focus exclusively on mandatory executive retirements and find that younger executive teams increase risk taking, as do board changes that result in a higher proportion of female executives. In contrast, if board changes increase the representation of executives holding Ph.D. degrees, risk taking declines.
Women work longer days and report working more often on vacation than their male counterparts. Yet, women also report greater perceived satisfaction with their compensation, according to new data released today in theFIT’s first Report on Workplace Culture. Fifty- four percent of women report working nine or more hours a day, compared to 41 percent of men. The report includes survey data from over 5,000 U.S. employees.
Since Lord Davies’ independent review of women on boards a year ago (February 2011), the impetus to seek out female talent for the boardroom has never been greater. FTSE 100 companies appointed 26 women to their boards in the first eight months of 2011, a jump by 227% from the whole of 2010. Of these 26 appointments, 31% were women with financial services backgrounds, i.e. the most in-demand demographic.
This paper considers why women from the world of alternative investments could be appropriate for publicly quoted corporate boards. Working with senior members of 100 Women in Hedge Funds, we have conducted a study into the potential among women in alternatives for board. Of the 100 participants, 85% felt they were ready for a corporate board role within five years or less and 58% within two years or less.
Over the past 14 years, the number of women-owned businesses has grown at a rate that exceeds the national average—one and a half times the national average to be exact. The release of the latest business statistics in December 2010 by the U.S. Census Bureau allows for an updated analysis of trends. This new investigation reveals a slowdown in this growth of the number of women-owned businesses as well as a lag in employment and revenue growth—but not where you might think. New statistics on firm size, sales, revenue and employment trends can help inform future business planning, public policy development and entrepreneurial support activities. The State of Women-Owned Businesses Report also highlights some of the issues preventing women-owned businesses from reaching their full potential.
Women have moved into top jobs at some of America's biggest and most recognized corporations including IBM, Pepsico and Archer Daniels Midland. But in their shadows, at the second tier of big U.S. companies, it's a different story.
Politicians and employers recognise that gender should be no barrier to career progression. Yet women continue to be under-represented at senior levels across the UK, particularly in the banking sector.
Research by the Institute of Leadership & Management, sponsored by RBS, investigates why so few women are promoted to senior management positions in banking and identifies the challenges they face. The report also propose solutions for the future.
Last week at a stellar gathering of leaders from business, philanthropy, government, and non-profits, the National Council for Research on Women kicked off 30 years of transforming the way the world looks at women and girls at its annual Making a Difference for Women Awards Dinner.
The Council will honor: Beth Brooke of Ernst & Young; Abigail Disney, Pamela Hogan, and Gini Retiker of theWomen, War & Peace series on PBS; Anita Hill of Brandeis University; and Soledad O’Brien of CNN at Cipriani Wall Street in New York City.
“Our honorees reflect the depth and breadth of our network of researchers, policy specialists, and advocates across business, communication, academia, and the arts. We will not only celebrate all that we’ve accomplished but also focus on all that still needs to be done to improve women’s economic security and advance a critical mass of women into leadership positions by 2015,” said Linda Basch, PhD, President of NCRW.
The Council also recognized 30 outstanding leaders for their contributions to changing the way the world looks at women. Immediately preceding the Awards Dinner, the Council will presented expert roundtable: Women 2012: Taking a Worldwide Reading at the Federal Reserve Bank of New York (RSVP details at www.ncrw.org) which featured top experts from the World Bank, the World Economic Forum, the White House Domestic Policy Council, as well as the Harvard Kennedy School.
Among those who were honored were two women of Filipino descent – Analisa Balares, CEO of Womensphere and Stephanie Mehta, Executive Editor of Fortune Magazine.
Since 1999, the annual Female FTSE benchmarking report has provided a regular measure of the number of women executive directors on the corporate boards of the UK's top 100 companies.
The Female FTSE Index is announced each year in November, and attracts considerable press attention in the UK and internationally. The study was hosted at the Chancellor of the Exchequer's offices at No. 11 Downing Street in 2004. Reports are available from 2001 onwards. The Index is incorporated in the Reports.