By Trudy Bourgeois, president and CEO, The Center for Workforce Excellence
The first question that may come to mind when we read this title is: WHY? Why change the game? Why now? Why women?
The answer to those questions is based on boatloads of research and factual data surrounding us today. Research found in the book by Bridget Brennan entitled, Why She Buys, reports that women in America make over 80% of the buying decisions and spend approximately $5 trillion annually – over half the U.S. GDP. In addition, in 2010 women became the majority of the workforce for the first time in U.S. history. For every two men that got a college diploma last year, three women did the same. The Bureau of Labor Statistics reports that women now hold 51.4% of managerial and professional jobs—up from 26.1% in 1980. They make up 54% of all accountants and hold about half of all banking and insurance jobs. About a third of America’s physicians are now women, as are 45% of associates in law firms—and both those percentages are rising quickly.
In addition, research proves that organizations that are intentional about building a workforce from top to bottom that reflect the face of the consumer (the majority of which are women as we saw above) are more profitable.
A recent Pepperdine study (http://www.miller-mccune.com/business-economics/profit-thy-name-is-woman-3920/) tracked the performance of Fortune 500 companies with a strong record of promoting women to the executive suite and compared their performance to that of other firms in the same industries. The results were astounding. For every year between 2001-2007, the companies identified as being the best at promoting women outperformed the industry median on all three profitability measures (i.e. overall profits 34% higher when calculated for revenue, 18% higher in terms of assets and 69% higher in regard to equity). Furthermore, the 10 firms with the very best records of promoting women showed greater profit results than the firms that were merely very good.
After studying these facts, the question in our minds must now be: HOW CAN WE?
HOW CAN WE harness the representative power and value that women bring to the equation? HOW CAN WE authenticate gender talent management strategies and thrive in today’s global business world by fully leveraging the majority workforce available to us? HOW CAN WE experience greater profit results by doing so?
Join me for a highly-interactive and fast-paced session on March 21st from 10:15-11:45 a.m. as I share insights and in-the-trenches strategies on HOW TO harness female talent – and fully reap the results of doing so.
My featured guest will be the Chief Diversity Officer of General Mills, Kenneth Charles. General Mills is a 2011 recipient of the cherished ‘Best Places to Work’ award. They are a leading global company that is achieving breakout results because they have been intentional about deploying meaningful talent management strategies. This includes being deliberate about leveraging their female talent.
Come collaborate and learn how your organization can build new talent management strategies that are guaranteed to create newfound success.