This research shows that the number of women on a company’s board of directors impacts the future of women in its senior leadership. This is significant because earlier Catalyst findings show that Fortune 500 companies with the highest representation of women board directors and women corporate officers, on average, achieve higher financial performance than those with the lowest. The numbers tell the story—a gender-diverse board promotes continued success for women and for business.
Launched in 2003, the Eurofirms Women in the PwC Network brings together women and men in leading positions from 20 European countries. It supports the strategic goal of creating a working environment to help them attract and retain the best talent-male and female. This Annual Report looks at the progress made by the network in the past five years. It tells the stories of European countries and provides a flavor of activities and achievements in the area of diversity.
Evidence of a link between the bottom line and women at the top is growing, with McKinsey research showing better-than-average financial performance by European companies with the highest performance of women in influential leadership roles. The report, launched at the Women’s Forum for the Economy & Society in Deauville, France, finds these companies do better than their sector in terms of return on equity, operating result, and shared price growth.
The Difference reveals that progress and innovation may depend less on lone thinkers with enormous IQs than on diverse people working together and capitalizing on their individuality. Page shows how groups that display a range of perspectives outperform groups of like-minded experts.
The Michigan Women’s Leadership Index (WLI) is a data-based instrument used to measure the presence of women executives in the highest leadership positions of the top 100 publicly-held companies headquartered in Michigan (Index 100). Research shows that women directors’ and women executives’ presence and advancement are independent of one another, and that there is more hope for increasing the number of women executives than increasing the number of women board members.
Recent events capture not only the impact of prejudice, but also the need to look closely at what is going on in the labor force and talent pool, where lack of opportunity is felt by non-whites and women from the very bottom on up to the very top rungs of power: white men are 95 percent of the CEOs of Fortune 500 Companies, 92 percent of the top earners. In 2006, only one Fortune 500 CEO is a minority woman.