Most Americans agree that men and women are equally capable when it comes to key qualities and behaviors that are essential for top leaders in business and politics. Yet, there is still progress to be made for women in senior executive and board positions — where their influence can make an even greater impact.
Consider this: Research has shown that the increase of women in leadership is helping businesses to thrive in unprecedented ways.
• The 2018 Delivering Through Diversity report from McKinsey & Company notes that companies in the top quartile on executive-level gender diversity worldwide have a 21-percent likelihood of outperforming their fourth-quartile industry peers on earnings before interest and tax. McKinsey has also found that $12 trillion could be added to global GDP by 2025 by advancing gender equality.
• The 2017 Gender Equality Scorecard from the Workplace Gender Equality Agency (WGEA) also shows that representation of women across all management categories has grown consistently since 2013-14. More than 43 percent of management appointments in 2016-17 went to women.
• Additionally, companies in the top quartile for gender diversity are 15 percent more likely to outperform competition.
• Growth in women-owned businesses has outpaced the overall increase in new businesses by 1.5 times — a win-win for the economy.
In this edition of the Business Magazine, we’ll explore the many ways that women leaders are expanding influence and leading change, as well as the resources that can assist them and the organizations they represent.
First, we’ll talk with Maureen Barber-Carey, Ed.D., of the Barber National Institute and our April 11 IMPACT Luncheon speaker, on how vision and opportunity can impact business, leadership and life. We’ll also hear from Maggie Horne, director of the Gannon SBDC, on the Women in Leadership Development (WILD) events planned in Erie and Mercer County.
Plus, don’t miss our HR article on how to identify employees with “high potential” or this month’s On the Hill article about the inspiration coming from new representation in the state legislature, specifically Representative Valerie Gaydos of the 44th District.
In this month’s magazine, the Manufacturer & Business Association is also celebrating the many graduates of its professional training programs, which can help your team attain its leadership goals. To learn more about the many programs and resources available at the Association, visit www.mbausa.org.