(BACC Board member Nan Nelson provides the first of four summaries of BACC findings in its Economic Transformation Signal Team report)
Inclusive corporate cultures have a competitive edge, according to new study results (see reference list)—better products, sales growth and share performance. Innovation, enabling success in today’s fast-changing, disruption-filled competitive world, is the key characteristic of these inclusive companies.
Companies with above-average gender diversity on their boards and top management are more likely to have these inclusive cultures. Women bring work styles that include enhanced communication skills, empathy, less ego and more measured risk-taking.
Inclusive corporate cultures have a competitive edge, according to new study results (see reference list below)—better products, sales growth and share performance. Innovation, enabling success in today’s fast-changing, disruption-filled competitive world, is the key characteristic of these inclusive companies.
Companies with above-average gender diversity on their boards and top management are more likely to have these inclusive cultures. Women bring work styles that include enhanced communication skills, empathy, less ego and more measured risk-taking.
How to achieve this gender-diversity and inclusion?
• The courage, process and pipeline to consider board candidates not personally known to current leaders.
• Insure that equal numbers of women take the first big step: promotion to first level management positions.
How are we doing?
• Wisconsin similar to national average.
• No local data available.
REFERENCE LIST
Holger, Dieter. “Business Case for More Diversity,” Wall Street Journal, October 26, 2019 (subscription required).
Huang, Jess et all. “Women in the Workplace 2019,” McKinsey & Company, October 15, 2019.
Lorenzo, Rocio et all. “How Diverse Leadership Teams Boost Innovation,” BCG Henderson Institute, January 23, 2018.
Milwaukee Women, Inc. Building Momentum: 2019 Research Report
Sancier-Sultan, Sandra and Sperling-Magro, Julia. “Taking the Lead for Inclusion” McKinsey & Company, November 19, 2019.
Savchuk, Katia. “Do Investors Really Care About Gender Diversity?” Insights by Stanford Business, September 17, 2019.
Women on Boards. 2020 Women On Boards Gender Diversity Index
Zenger, Jack and Folkman, Joseph. “Research: Women Score Higher Than Men in Most Leadership Skills,” Harvard Business Review, June 25, 2019.