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Go to Indicators for Principle 4: Governance

 

 

San Francisco Gender Equality Principles (GEP)

Indicator Tool For Principle 4: Management And Governance

 

Table of Contents

 

A. Business Case

B. Implementing Programs and Policies

1. Tools, Training, and Development

2. Recruitment Resources

3. Websites

4. Sample Practices

C. Articles & Studies

 

A.Business Case

 

Why women managers shine in a downturn

This article (based on companies inFrance) demonstrates that in conditions of high uncertainty, financial markets value companies that take fewer risks and are more stable. The research project on companies from the French CAC 40 stock exchange index pointed out that the more women there were in a company's management, the less the share price fell in 2008.

Michel Ferrary, Michael, (March 2, 2009), Why women managers shine in a downturn, The Financial Times Ltd.

http://www.ft.com/cms/s/0/40bb00ac-06cb-11de-ab0f 000077b07658.html?nclick_check=1

 

Groundbreakers: Using the strength of women to rebuild the world economy

This study provides evidence on the economic advantages of gender diversity. In light of our current financial crisis, the study summarizes extensive research on gender diversity and the link to corporate financial performance and the overall economic growth. One defining result is that women make significant and proven contributions to business and economic growth. However, the true potential of women contributions has not been maximized.

The preparation of this document was led by Beth Brooke, Beth, and Williamsn, Billie, Ernst & Young's Global Vice Chair, and, Ernst & Young's Americas Inclusiveness Officer (2009). Groundbreakers: Using the strength of women to rebuild the world economy, 2009 EYGM Limited. http://www.ey.com/Global/assets.nsf/International/Groundbreakers/$file/Groundbreakers.pdf

 

A Business Case for Women

This article discusses research on how companies gain a competitive edge from hiring and retaining more women. The research shows companies with such practices are able to draw from a broader pool of talent in an era of talent shortages. In addition, research indicates that greater female representation in senior-management positions leads to better firm quality and stronger financial performance including higher operating margins.

Desvaux, Georges, Sandrine Devillard-Hoellinger, and Mary C. Meaney (2008, September). A Business Case for Women, McKinsey & Company.

http://www.mckinseyquarterly.com/A_business_case_for_women_2192

 

Business Case for Gender Diversity

This study indicates that companies that pursue and properly manage gender diversity have better financial results, improved access to a growing, well-educated segment of the workforce, improved market share, and better management. Gender diversity creates more opportunities for everyone and greater profits for the company.

Scottsdale National Gender Institute (September 2008). Business Case for Gender Diversity

http://www.diversityacademy.com/docs/business_case.pdf

 

'Girl Power': Female Participation in Top Management and Firm Quality

A study on the relationship between female participation in senior management and firm quality finds a positive association. The positive results for female participation are entirely driven by firms pursuing an "innovation intensive" strategy, where collaboration among colleagues may be especially important. Findings provide evidence for a "female management style" that enhances firm performance by facilitating teamwork.

Dezso, Cristian L. and Ross, David Gaddis. (July 1, 2008). 'Girl Power': Female Participation in Top Management and Firm Quality. Social Science Research Network.

Available at SSRN: http://ssrn.com/abstract=1088182

 

Working for the Woman? Female Managers and the Gender Wage Gap

This study found that having greater representation of women in management narrows the wage gap and that inroads made by women into upper-status managerial positions will lift all boats by also boosting the wages of women employed in non-managerial occupations. All women may benefit from the desegregation of managerial occupations, even those who do not themselves attain such positions.

Philip N. Cohen and Matt L. Huffman, Working for the Woman? Female Managers and the Gender Wage Gap, University of North Carolina, Chapel Hill University of California, Irvine, AMERICAN SOCIOLOGICAL REVIEW, 2007, VOL. 72 (October:681–704)

http://www.unc.edu/~pnc/ASR07.pdf

 

The Bottom Line: Corporate Performance and Women's Representation on Boards

Catalyst study on Fortune 500 companies found that companies with 3 or more women on the Board gain a significant performance advantage over those with the fewest, this including return on sales, equity, and invested capital.

Lois Joy, Ph.D., Nancy M. Carter, Ph.D., Harvey M. Wagner, Ph.D., and Sriram Narayanan, Ph.D. The Bottom Line: Corporate Performance and Women's Representation on Boards, Catalyst Inc. (October 2007)

http://www.catalyst.org/publication/200/the-bottom-line-corporate-performance-and-womens-representation-on-boards

 

See also on Catalyst website:

· Advancing Women Leaders: The Connection Between Women Board Directors and Women Corporate Officers, Lois Joy (July 2008) http://www.catalyst.org/publication/273/advancing-women-leaders-the-connection-between-women-board-directors-and-women-corporate-officers

· The Bottom Line: Connecting Corporate Performance and Gender Diversity (January 2004) http://www.catalyst.org/publication/82/the-bottom-line-connecting-corporate-performance-and-gender-diversity

 

Women Matter, Gender Diversity a Corporate Performance Driver

A study by McKinsey & Company confirming that companies where women are most strongly represented at board or management level has perform the best. The study gives some specific suggestions for best practices.

Desvaux, Georges, Devillard-Hoellinger, Sandrine, Baumgarten, Pascal (2007). Women Matter, Gender Diversity a Corporate Performance Driver, McKinsey & Company.

http://www.mckinsey.com/careers/women/making_a_difference/social_sector_impact/~/media/Reports/Women/Mckinsey_women_matter.ashx

 

Not Just the Right Thing, the Bright Thing

The Conference Board of Canada published findings of their study on women and corporate governance. The report suggests a link between female numbers on boards and good-governance credentials. It found that more gender-balanced boards tended to:

• pay more attention to audit and risk oversight and control
• more often considered the needs of more categories of stakeholders
• examine a wider range of management and organizational performance
• 94% of boards with three or more women (compared to 58% of all-male boards) insist on conflict-of-interest guidelines
• 72% of boards with two or more women conduct formal board performance evaluations, while only 49% of all-male boards do

Anastasopoulos, Vanessa; Brown, David A.H.; Brown, Debra L. Not Just the Right Thing, the Bright Thing (June 2002) The Conference Board of Canada http://sso.conferenceboard.ca/documents.aspx?DID=374

 

B. Implementing Programs and Policies

 

1. Tools, Training & Development

 

Lack of Strategic Relationships Impacts Advancement of Women of Color in U.S. Securities Firms

The study identifies how firms can evaluate, develop, and execute truly effective programs by examining the juncture between race/ethnicity, gender, and birth country, and its impact on the advancement of women of color in the workplace. Catalyst suggests the following to overcome stereotypes and contribute to organizational performance:

· Educate employees on the intersecting identities of women of color and how biases and subtle discrimination can lead to exclusion from informal networks and relationships.

· Identify exclusionary practices in communication materials, behaviors, and unwritten rules, and create an approach to inclusion that accounts for race, gender, and ethnicity and birth country.

· Ensure managers are equipped with the knowledge of differences in experiences and perceptions of diverse employee groups and use them to assist in overcoming barriers to advancement.

· Hold managers and leaders accountable for identifying development opportunities for qualified women of color.

· Conduct regular assessments to make sure diversity efforts address the distinctive experiences and challenges women of color face.

Lack of Strategic Relationships Impacts Advancement of Women of Color in U.S. Securities Firms, Catalyst (October 2008).

http://www.catalyst.org/press-release/139/lack-of-strategic-relationships-impacts-advancement-of-women-of-color-in-us-securities-firms

 

The Challenge of Hiring and Retaining Women: An Interview with the Head of HR at eBay

The article states that companies that can appeal to and retain different kinds of employees are more likely to succeed. Also, company leaders must recognize the importance of hiring and retaining women and identify the issues that limit women's ability to build lasting careers.

McPherson, John R., Lenny T. Mendonca (September 2008). The Challenge of Hiring and Retaining Women: An Interview with the Head of HR at eBay. McKinsey & Company.

http://www.auburn.edu/outreach/womenleaders/documents/wli_board_articles_2.pdf

 

Gender Equality Scheme Action Plan 2007 – 2010

Example of an action plan with performance targets to promote gender equality in England, (2007).

North Dorset District Council, United Kingdom , (2007) Gender Equality Scheme Action Plan 2007 – 2010.

http ://www.north-dorset.gov.uk/gender_equality_scheme_action_plan_2007.pdf

 

Driving Diversity in the Boardroom

This study focuses on how diversity in the boardroom produces better decisions and stronger companies. It includes specific actions companies can take to achieve that diversity, such as:

· Develop a profile of board member competencies and rigorously measure candidates against those competencies.

· Limit board terms, so you need to recruit new people with new perspectives and thus reinvigorate the board.

· Use a third party to seek out independent board candidates and bring them to the attention of the nominating committee. Make sure the search firm has demonstrable experience conducting successful board searches for women and minority candidates.

· Look to community organizations and nonprofits connected with your company to both spot potential board members and assess their performance and how well your company works with them.

· Identify women within your organization with board-level qualities and then mentor them.

David H. Hoffmann, David H, Hendrickson, Alexandra (December 2006). Driving Diversity in the Boardroom. http://www.dhrinternational.com/about/pressroomadobe/436.pdf

 

Global Diversity and Inclusion Benchmarks

A tool that helps organizations assess and measure their progress in valuing and managing diversity and fostering inclusion. Organizations that do benchmarking may look upon these benchmarks as prescriptive for success or simply as descriptive of current best practices.

O'Mara, Julie, Richter, Alan. (October 2006), Global Diversity and Inclusion Benchmarks.

http://www.qedconsulting.com/files/GDIBenchmarksOct06.pdf

 

Gender-Based Analysis (GBA) Performance Measurement of its Application

Status of Women Canada

A tool created to measure gender based performance outcomes and plan for future evaluation of its effectiveness/impact relative to outcomes of policies, programs, legislation and/or pilot projects.

Status of Women Canada (2006). Gender-Based Analysis (GBA) Performance Measurement of its Application.

http://www.swc-cfc.gc.ca/pubs/gbaperformance/gbaperformance_1_e.html

 

Local Level Gender Responsive Budgets: Tools for Gendered Research and Analysis

Geared to governments this is an overview of the existing and potential approaches and tools for identifying gender gaps at the local level. One of the objectives of data collection on gender gaps at the local level is to contribute to the formulation of more effective and responsive local level gender budgets initiatives. Elucidates existing and potential tools for identifying: (i) priorities for budget allocation from a gender perspective at the local level; and (ii) gender gaps in access to budgetary resources at the local level, and in contribution to revenues.

Sohal, Raman. (2005). Local Level GRB: Tools for Gendered Research and Analysis. International Development Research Centre.

http://www.gender-budgets.org/content/view/579/245/

 

GlassCeilingResearch Center

Nonprofit organization that offers fee-based customized research dealing with the glass ceiling issue. The organization also offers customized, in-house programs to help both men and women executives work together effectively.

http://glassceiling.org

 

National Association of Corporate Directors (NACD)

Non-profit membership organization dedicated exclusively to serving the corporate governance needs of corporate boards and individual board members. NACD provides educational, informational, and advisory services that prepare directors to add value to the corporation, enhance risk oversight, and build valuable skills for leading key committees.

http://www.nacdonline.org

 

The Center for Women's Business Research

An organization that specializes on women entrepreneurship studies. The organization's research enables America's top corporations, government policymakers, associations, and advocacy organizations to make informed, progressive decisions about programs and policies designed to reach and benefit women entrepreneurs.

http://www.womensbusinessresearch.org

2. Recruitment Resources

 

BoardRecruiting,

For-profit organization that offers online recruitment system that directly connects Boards with prospective independent directors. Public, private and non-profit and companies worldwide, regardless of listing exchange or market cap, can use BoardRecruiting to proactively build transparent Boards that fulfill the ongoing requirements of independence and specialized skill on corporate Boards.

www.boardrecruiting.com

 

Boardroom Bound

Nonprofit organization dedicated to developing a pool of qualified women and ethnic minority director candidates and provides training and leadership programs.

www.boardroombound.org

 

Change Leaders, Inc.

For-profit organization that specializes in Board Development, CEO Coaching, and Executive Team Development. The organization also provides services and resources tailored to women board training and executive coaching.

http://www.change-leaders.com/index.html

 

InterOrganization Network (ION)

An organization that consists of twelve regional organizations located across the United States, all of which work to advance women to positions of power in the business world, primarily to boards of directors and executive suites.

http://www.ionwomen.org

 

OnBoard Bootcamp

For-profit organization that provides corporate board training, marketing skills, strategy, and network for women to secure board positions.

http://www.onboardbootcamps.com

 

3. Websites

 

Catalyst

Founded in 1962, Catalyst is a leading membership organization working globally with businesses and the professions to build inclusive workplaces and expand opportunities for women and business. The website has an extensive studies, articles and tools to increase women's participation in business.

http://www.catalyst.org/

 

Corporate Women Directors International (CWDI)

CWDI, a non-profit organization that has provided research on women directors in Australia, Canada, Japan, South Africa and Spain, as well as state-based reports on Women directors in Fortune 1000 companies based in Texas and California. CWDI also brings women directors together globally to establish an international network of women directors on issues of corporate governance.

http://www.globewomen.com/cwdi/CWDI.htm

 

Diversity Best Practices (DBP)

For-profit organization that serves as a liaison for diversity thought leaders to share best practices and develop innovative solutions for culture change. Through research, benchmarking, publications and events, DBP offers members information and strategies on how to implement, grow, measure and create first in class diversity programs.

http://www.diversitybestpractices.com

 

Level Playing Field Institute

Level Playing Field Institute (LPFI) promotes innovative approaches to fairness in higher education and workplaces by removing barriers to full participation. LPFI is a San Francisco-based non-profit that promotes innovative approaches to fairness in education and the workplace. It helps to reveal and remove the barriers that prevent underrepresented groups from achieving all they can. These barriers include blatant and obvious obstacles, as well as those that are hidden and unconscious.

http://www.lpfi.org/

 

News on Women

News on Women puts women in business in the news; rising stars, women news anchors, women reporters, women in education, women in science and technology, women in the arts. News on Women gives a list of women in business conferences and a list of different careers with openings.

www.newsonwomen.com/

 

The Alliance of Professional and Business Women

The Alliance is a non-profit association of women's business and professional organizations dedicated to increasing the economic power, influence, and visibility of women.

http://www.womensalliance.org

 

The International Alliance for Women

The organization serves as the global umbrella organization that unites, supports, and promotes professional women and their networks to work together, share resources and leverage ideas.

https://www.tiaw.org

 

Women on Board

The Women on Boards event is an annual panel discussion that educates and prepares women to serve on boards of directors. Women on Boards is about making changes in the boardroom. The event started in Minneapolis in 2002 and later expanded to Chicago, St. Louis, Denver, Dallas, San Francisco and Atlanta.

http://www.womenonboards.com/WomenOnBoards4518.php#

 

WOMEN-omics

WOMEN-omics, launched January 2009, brings together gender experts, authors, journalists and business people to debate and present the latest and greatest thinking on gender from around the globe. It is the first website focused on the theme of promoting women as an economic opportunity. WOMEN-omics is designed to be a one-stop shop providing insights and practical information on how to facilitate implementation of gender balancing policies and maximize the resulting benefits.

http://www.women-omics.com

 

4. Sample Practices

The following are a few practices that have been highlighted by Catalyst through its award program. For more award winners see:

http://www.catalyst.org/page/69/catalyst-award-winners

 

Championing Change for Women: An Integrated Strategy at Safeway, Inc.

Initiative features comprehensive career development and mentoring programs combined with rigorous tracking and accountability systems, which have resulted in the substantial advancement of women– including women of color–to management positions. Diversity Advisory Boards, which work with division and corporate leaders, support the initiative, providing strategic direction on issues of diversity and inclusion; observing progress on diversity goals; and playing a role in maintaining consistency across locations.

For more information call 877-723-3929

 

Building a Culture: No Ceilings, No Barriers, No Limits at Charles Schwab

This unique culture is supported by a host of recruitment, development, advancement, and work/life programs that encourage all employees, irrespective of gender or race, to achieve their maximum potential. Managers build action plans based on employee surveys – these surveys are part of the accountability section in the performance reviews of managers. Hiring, retention, turnover, time in grade, and participation rates in training programs are tracked by race and gender. Results are shared with the co-CEOs and at each quarterly business unit update. Women comprise 36 percent of corporate officers and two of the company's five vice chairmen.

For more information call (415) 636-7000

 

Women in the Driver's Seat: Gender Diversity at Nissan Motor Co., Ltd. in Japan

Initiative uses diversity to secure business success by increasing women's participation and contribution in all areas of the business. The business case for having women as decision-makers and in positions of influence within the company was developed in response to research identifying women as influencers of two-thirds of all car purchases. With the support of many senior leaders and champions, the resulting diversity strategy focuses on three areas: engagement, education, and advancement of women.

For more information about this initiative see:

http://www.nissan-global.com/EN/COMPANY/DIVERSITY/

 

Leadership Through Diversity: Celebrating difference until difference makes no difference

Ernst & Young has made transformation a business imperative by launching a change management program throughout the Firm. This initiative was aimed at understanding employee differences, specifically as they relate to race and gender, and sought to dispel widely-held gender and racial stereotypes.

Greylin, Jenny, Press Release, (Johannesburg, 16 May 2005) Leadership Through Diversity: Celebrating difference until difference makes no difference.Ernst & Young http://www.ey.com/global/Content.nsf/South_Africa/19_May_05_Leadership_Through_Diversity

 

Women in Industrial Research: Good practices in companies across Europe

This brochure is a series of case studies based on data supplied by companies themselves in response to a questionnaire sent out by the European Commission, members of the WIR Expert Group and the European Industrial Research Management Association (EIRMA). The examples cover many initiatives in the areas of recruitment, networking, mentoring, monitoring, diversity, flexibility and family friendly policies. These examples offer companies new ideas for practices and policies that can help them to make the most of female potential in their workforce and thereby improve their competitive position, and act as a stimulus for further progress towards equal opportunities for women in industrial research.

Rainer, Dr., Director, European Commission, (2003). Women in Industrial Research: Good practices in companies across Europe, DG Research, Directorate: Science and Society Luxembourg: Office for Official Publications of the European Communities,

http://www.foremost-project.org/Archivos/Carpeta_180/Gender%20issues/wir-best-practice_en.pdf

 

C. Articles & Studies

 

Op-Ed Columnist: Mistresses of the Universe

Research suggests that homogeneity, like the kind in male-dominated Wall

Street boardrooms, makes for second-rate decision-making. A greater gender balance could reduce some of the consequences.

Kirstof, Nicholas, D. (February 8, 2009), Op-Ed Columnist: Mistresses of the Universe, New York Times, Inc. http://www.nytimes.com/2009/02/08/opinion/08kristof.html?emc=et

 

This mess was made by men. Now let the women have their say

The author argues that, It's ludicrous that men dominated the debate in Davos [World Economic Forum (WEF)]. The single biggest force for economic growth is being ignores... Scant attention is being paid to the devastating effects the banking crisis will have on women and children or to the ways in which a female contribution to economic policy may help the recovery.

Ruth Sunderland, Ruth. (February 1 2009). This mess was made by men. Now let the women have their say. The Observer, Guardian Newspapers Limited 2009 http://www.guardian.co.uk/commentisfree/2009/feb/01/davos-global-recession-gender

 

Bad Corporate News Finds Few Women on Board

The article examines the outpouring of bad U.S. corporate news that has produced a news gallery of mainly male faces. There's a matching shortage of women on corporate boards. Catalyst reports that while 46 percent of the U.S. work force is female, under 15 percent of Fortune 500 corporate officers are. The articles discuses the effect that female boards have on female hires, as well as barriers to female board involvement.

Chaudhuri, Saabira. (January 2009). Bad Corporate News Finds Few Women on Board. WeNews.

http://www.womensenews.org/article.cfm/dyn/aid/3861

 

Think Gender is a Diversity Issue? Think Again

The article argues for taking women out of the diversity department and human resources department. Instead the author argues That's why most companies have made so little progress on gender in the past decade. And unless they change the approach, we predict they'll make little progress in the next decade & Gender is more like culture. The trick here is to actually understand difference in order to be able to manage it effectively. It means treating people equally and different.

Wittenberg-Cox, Avivah (January 2009). Think Gender is a Diversity Issue? Think Again.

http://www.women-omics.com/645-0-think-gender-is-a-diversity-issue-think-again.html

 

Where the Glass Ceiling is Thickest: Tech.

Women remain a relative rarity in the executive suites of California 's 400 largest companies, filling less than 12 percent of top jobs. This article about a new academic study shows the problem is particularly acute in tech sectors such as electronics, semiconductors and telecommunications, where women fill only 3 to 9 percent of the jobs.

Mercury News. (November 2008).Women as business leaders? Study shows little progress.

http://www.mercurynews.com/ci_11006472?nclick_check=1

 

Build a Pipeline so Women Lead

This article examines The Forum of Executive Women which works to leverage the power of executive women in the region. The Forum focuses on providing names of qualified female candidates to companies seeking to diversify their boards.

Bankins, Elva L. (October 2008). Build a Pipeline so Women Lead. Philadelphia

Business Journal.

http://philadelphia.bizjournals.com/philadelphia/stories/2008/11/03/editorial2.html

 

Centered Leadership: How Talented Women Thrive
The article talks about a new approach to leadership that can help women become more self-confident and effective business leaders. The article explores what drives and sustains successful female leaders.

Joanna Barsh, Susie Cranston, and Craske, Rebecca A. (September 2008). Centered Leadership: How Talented Women Thrive, McKinnsey & Company.

http://www.mckinseyquarterly.com/Strategy/Centered_leadership_How_talented_women_thrive_2193

 

Paths to Leadership: Women's Experiences with and Aspirations for Board Service

This study compares women's board representation in the private sector and non-profit sector. It also highlights the motivation for women to seek board seats. The study shows women currently comprise 51% of the U.S. managerial workforce but only 14.8% of the directors on boards of large, publicly traded U.S. corporations. In contrast, 94% of non-profits had one or more women directors and women held 46% of the seats on the board.

Myers, Paul, Nitkin, Mindy, Colaco, Hugh, Deyton, Patricia, and Guertler, Indra (2008, March). Paths to Leadership: Women's Experiences with and Aspirations for Board Service. Simmons School of Management, Center for Gender in Organizations.

http://www.simmons.edu/som/docs/centers/insights_27.pdf

 

Examining the Cracks in the Ceiling: A Survey of Corporate Diversity Practices in the Calvert Social Index

Studies indicate men continue to occupy the vast majority of board seats of Fortune 100 companies–approximately 83% compared to 17% for women. New evidence indicates that there is a positive correlation between the representation of female directors on corporate boards and women in executive roles. This solidifies the impact of female directors on an inclusive culture and women employees throughout an organization.

Calvert (2008). Examining the Cracks in the Ceiling: A Survey of Corporate Diversity Practices in the Calvert Social Index. http://www.calvert.com/pdf/CorporateDiversity2008.pdf

 

 

A Census of Women Directors and Executive Officers (2008)

The fourth annual UC Davis study indicates that women hold only 10.9% of the board seats and executive officer positions at the 400 largest public companies headquartered in California. This number is a minor increase from last year's 10.4%, but unfortunately consistent with the national average. The study states CEOs and top leaders must communicate the business case for recruiting and retaining more women leaders and track progress with true accountability measures and metrics.

UC Davis Graduate School of Business (2008). A Census of Women Directors and Executive Officers.

www.gsm.ucdavis.edu/census

 

The Cost of Employee Turnover Due Solely to Unfairness the Workplace

The Corporate Leavers Survey study shows that each year in this country, more than 2 million professionals and managers leave their jobs, pushed out by cumulative small comments, whispered jokes and not-so-funny emails. This study shows that unfairness costs U.S. employers $64 billion on an annual basis. This estimate represents the cost of losing and replacing professionals and managers who leave their employers solely due to workplace unfairness.

Level Playing Field Institute (January 2007). Corporate Leavers Survey: The Cost of Employee Turnover Due Solely to Unfairness the Workplace.

http://www.lpfi.org/docs/corporate-leavers-survey.pdf

 

Giving Notice: Why the Best and the Brightest Leave the Workplace and How You Can Help Them Stay

This is an eye-opening examination of the causes and dynamics of bias in the workplace, offering a psychological, political, and societal analysis of the actual cost of bias to the bottom line. The authors make the hurdles that women and minorities face in the workplace as personal to the reader as they are to those who face them. Giving Notice is filled with sensible approaches for solving the current imbalance and challenges us to rethink unconscious ideas about stereotypes and commonly accepted business practices.

Klein, Freada, Mendoza, Martha, and Allers, Kimberley. (2007). Giving notice: why the best and the brightest leave the workplace and how you can help them stay. San Francisco: Jossey-Bass.

http://www.lpfi.org/workplace/corporateleavers.html

 

 

 

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