Over the past year, the value of diversity, equity and inclusion (DE&I) and gender equality initiatives has been questioned. While many large corporations have pulled back from DE&I [i], the mid-market is standing firm in its commitment.
This commitment is grounded not in ideals, but in business pragmatism. Gender-diverse leadership strengthens performance and delivers a clear competitive advantage. To realise these benefits fully, businesses must make their commitment — and the value of gender-balanced leadership — visible.
With the percentage of women in senior management dropping 1.1pp to 32.9% — this moment matters. Fluctuations have occurred and bounced back before but it’s essential to protect progress and unlock the full potential of gender-balanced leadership.
Visibility changes outcomes.
Our Women in Business research shows that a visible commitment to gender-diverse leadership teams can have a positive commercial impact — potential new investors expect to see gender-balanced leadership and employees see gender equality as a reason to join or stay at an organisation.
Read on to dive into the data behind the mid-market’s commitment and the impact remaining committed has on long-term business growth.
Mid-market businesses that not only remain committed to their gender equality initiatives, but plan to implement new ones, are more likely to report growth in revenue, headcount and exports. Leaders also associate gender-balanced leadership teams with better innovation, decision-making and financial performance.
To drive change, the mid-market is embedding gender equality strategies into their business. From strategies on employee pay to increasing female representation in senior management, strategic initiatives can propel progress.
While progress isn’t always linear, the mid-market is still on track to reach gender parity by 2051 and we’ve seen an increase in women holding various C-suite roles, including Chief executive officer.
When applying for a new role, 91.9% of mid-market leaders say they personally consider a company’s gender equality initiatives. And businesses are seeing an increase in future employees asking to see the gender breakdown of their senior leadership team, or a commitment to improving it.
Visible female leadership and a commitment to gender equality can help propel progress towards gender parity in mid-market leadership. Read the full report to learn more about the value of visibility and the positive impact gender-balanced leadership can have. More voices. More visibility. More momentum.
Women holding the CFO role is nearing parity – reshaping finance leadership and potentially helping increase female representation across all senior roles.
For 21 years, the Women in Business report has tracked the proportion of women in senior roles in the mid-market. Progress has been made but with gender equity over 25 years away, that isn’t soon enough.
Achieving gender balance in top tech roles by boosting prospects for early career women in tech, measuring turnover by gender and committing to greater transparency to attract women to the technology industry.
[i] Here are all the companies rolling back DEI programs [www.forbes.com]