Why Women are Good for Business

Women in Business: A Win-Win Situation

September 22, 2014ColleenCompany News, Industry NewsLeave a comment

Women are good for business. It’s that simple. Yet, despite the fact that women make up roughly half of the world’s population, they have been historically underrepresented in leadership roles, holding scarcely more than 1 in every 5 senior management roles.

“Fully integrating women into a nation’s economic life is essential for a society to flourish. That is a message that our country, and other rich nations, have consistently sent to developing nations around the world.  And yet, here at home, we have somehow managed not to heed it.”

–Judith Warner, Center for American Progress

Why Women are Good for BusinessFast Facts: Women, Education & Employment

For over 25 years, women have outnumbered men on college campuses, earning nearly 60% of undergrad degrees and 60% of all master’s degrees.

Women earn:

  • 47% of all law degrees
  • 48% of all medical degrees
  • Over 44% of master’s degrees in business and management

With these impressive numbers, it’s easy to assume a large portion of women have risen to prominent positions in the workforce. In reality, progress has, in many ways, stalled.

Did you know?

  • A recent Pershing article says just 30% of financial advisors are women – with women advisors earning only 58 cents on the dollar compared to their male counterparts.
  • A 2012 Grant Thornton International Business Report found that women hold about 21% of senior management positions worldwide.
  • Only 16.9% of Fortune 500 board seats are held by women.

The substantial disparity between men and women in leadership roles is not exclusive to one industry:

  • In the financial services industry, women account for 54.2% of the labor force – yet only 12.4% of executive officers and 18.3% of board directors are women.
  • In health care and social assistance, women make up 78.4% of the labor force, but only 14.6% of executive officers and 12.4% of board directors are women.
  • In the legal field, though 45.4% of associates are women, just 25% are nonequity partners and 15% are equity partners.
  • In information technology, women make up a miniscule 9% of management positions.

How women benefit businessesHow Women Benefit Business

Numerous studies have proven that women have a significantly positive effect on business. Let’s take a look at some powerful stats on the extraordinary impact women can have in business:

  • Some studies have discovered a link between greater gender diversity in senior positions and financial success.
  • European firms who had the largest proportion of women in leadership positions watched their stock values soar by 64% over two years, compared with an average of 47%.
  • Profits at Fortune 500 firms that strongly promoted women were 34% greater than industry medians.
  • Teams with more women are rated higher on “collective intelligence” than teams with less women.
  • When a Fortune 500 company has at least 3 women in leadership roles, they enjoy a 42% increase in return on sales, 53% increase in return on equity, and a whopping 66% increase in ROI.

Insider Secrets to Gaining Your Seat at the Table

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