As featured in a recent CNBC segment, the Equilar Gender Diversity Index (GDI) moved to 0.47, where 1.0 represents gender parity across Russell 3000 boards. Women on Boards Project announced a partnership with several leading private equity firms and private companies to increase gender diversity and inclusion on the boards of consumer companies. The UK gained 2.6 percentage points since last year to . Found inside â Page 18The issues of diversity, race, class, gender, equity, and access are tightly entwined; many recognize them ... âDespite reporting high levels of dissatisfaction with current board demographicsâparticularly ra- cial and ethnic ... Representation on Deloitte Global’s Board jumped to 30 percent in 2019 from 16 percent the previous year, following structural changes and a concerted effort to ensure some of our highly talented women were given the opportunity. Those that did not were often part of . This is why we continue to strive for improvements,” says Seah Gek Choo, Southeast Asia leader, Deloitte Center for Corporate Governance. The percentage of women on boards overall in the United States is between 11 and 12 percent and has barely increased in the last decade. Today, I am sharing Microsoft's 2020 Diversity and Inclusion report, which comes at a time marked by the ongoing COVID-19 pandemic, amplified acts of racial injustice, and the reality of global uncertainty.. Conflicting research indicates that gender diversity can sometimes harm firm performance. For example, a survey by Catalyst (2011) shows that Fortune 500 firms from the top quartile of female director representation significantly outperformed those from the bottom quartile in return on invested capital over the period 2004-2008. Since 2009, the Global Center has launched over 65 centers of corporate governance in Asia, Europe, the Middle East, Africa, and the Americas. If an investor was in a context that accepted gender diversity, they were more likely to value those diverse companies highly. By normative acceptance, they mean a widespread cultural belief that gender diversity is important. Alternative Hypothesis (2): Board gender diversity decreases director's compensation in India. In a telling finding, the number of Black men on Fortune 500 boards fell by 1.5% between 2018 and June 2020, even as the representation of Black women rose by 18%. In Glass Half-Broken, Colleen Ammerman and Boris Groysberg reveal the pervasive organizational obstacles and managerial actionsâlimited opportunities for development, lack of role models and sponsors, and bias in hiring, compensation, and ... The Deloitte Global Center for Corporate Governance brings together the knowledge and experience of Deloitte member firms around the world in the critical area of corporate governance. 7 things you can do to improve the sad, pathetic state of board diversity | Nonprofit and Friends | 2017 BoardSource just released its report on board diversity, and the statistics are frustrating, disappointing, and somewhat anger-inducing….The lack of diversity on boards is no longer just annoying. How do you connect to the more than 3 million people and companies profiled in BoardEx? At Deloitte, we place great emphasis on offering competitive benefits. After submitting your job application, you may view or update your candidate profile here. DTTL (also referred to as “Deloitte Global”) and each of its member firms and their affiliated entities are legally separate and independent entities. Three of these six have implemented gender quota legislation, while the other half have addressed diversity efforts without gender quotas. Gender diversity can also signal to investors that a firm is well-run. 39.7% of the company's board was made up of racial and ethnic minorities, and its workforce as a whole was 49.8% . While in prior years investors' focus was largely centered on gender diversity, ongoing social unrest and protests over systemic racism have catalyzed an expansion to now include consideration of racial and ethnic diversity as well. Found inside â Page 193Grundfest's work also uses the EGDI report rather than the EGDI measure to demonstrate the percentage of women on Fortune 500 and Russell 3000 boards. This handful of recent research papers suggests that Equilar's data on gender ... Gender representation on corporate boards of directors refers to the proportion of men and women who occupy board member positions.To measure gender diversity on corporate boards, studies often use the percentage of women holding corporate board seats and the percentage of companies with at least one woman on their board. Board diversity has been an area of investor focus in recent years and this year is no exception. The purpose of this volume is to explore the complexity of issues related to increasing the number of women on boards of directors around the world: how these issues have been understood; how they have been more and less successfully ... According to the WSJ, one in eight S&P 500 boards was all male in 2012. New BoardEx Report Reveals Nearly 60% of FTSE 350 General Counsels are Sourced Externally, CSX, Aramark Hint at Dollar Tree Campaign Path. Does diversity make a company more productive? Knowing a wide range of statistics related to diversity and inclusion might help you and your team better understand the complex nature of the topics, as well as learn the importance of building a better internal workforce that will ultimately yield higher revenue and boost . Deloitte Global’s Women in the Boardroom report shares the latest statistics on global boardroom diversity, exploring the efforts of 66 countries to increase gender diversity in their boardrooms and features insights on the political, social, and legislative trends behind the numbers. In a survey of 1,000 respondents, the job site Glassdoor found that 67% of job seekers overall look at workforce diversity when evaluating an offer. We found that having gender diversity on executive teams, specifically, to be consistently positively correlated with higher profitability across geographies in our data set, underpinning the role that executive teams—where the bulk of strategic and operational decisions are made—play in the financial performance of a company. Found inside â Page 161Hypothesis: There is an association between board diversity and the higher recognition of leading practices of the ... GENDER represents the gender diversity of the board of directors and is measured by the percentage of women directors ... South Africa also saw a 6.9 percent increase after implementing recommendations for listed companies to disclose targets for gender and race representation at the board level. Between 2014 and 2018, the number of companies with three or more women on their boards increased from 8% to 13%. The report includes an analysis of more than 16,000 directors from more than 1,400 different organizations. The disclosure must be titled "Board Diversity Matrix" and include the date the information was collected as the "As of Date". CFO positions are nearly three times more diverse, but women still hold just 12.7 percent of these positions globally. Most of the Middle East region has very low representation of women in the boardroom. This edited collection provides a structured and in-depth analysis of the current use of quota strategies for resolving the pressing issue of gender inequality, and the lack of female representation on corporate boards. In Latin and South America, only 7.9 percent of board seats are held by women. Most of this research, however, has looked at the question within a single country or industry. This report is a comparative study of global gender diversity across the major global indices. Gender balance on government boards statistics Overall Gender Balance on Government boards On 31 December 2020, women held 49.5 per cent of Government board positions. There are many forests, lakes, and a lovely countryside. We empower our clients to build greater relationships, obtain and manage their best talent and reduce commercial risk. Found inside â Page 400... 298 female directors statistics in, 116-18 gender diversity in boards of directors and, 103-4, 130-3 gender diversity in state-owned enterprises of, 136-7 German co-determination model in, 159-61 green stocks and bonds in, ... In today's competitive market, it is critical for businesses to access all potential talent and encourage differences among the top corporate teams."--Leaf 3. In other words, beliefs about gender diversity create a self-fulfilling cycle. Some countries have strong cultural support, but few legal structures in place. And again, there is a split between countries with gender quota legislation and those without. The tone of much public discourse on the issue of women's representation on boards has been pessimistic of late, and understandably so, given the crawl toward gender parity in the United States. This year, Marthe LaRosiliere . Countries and industries that view gender diversity as important capture benefits from it. BoardEx’s Global Gender Balance Report 2021 reveals: For the complete findings included in the Global Gender Balance Report 2021, download the full report here. Others say no — conflicting research indicates that gender diversity can disrupt social cohesion, making people less likely to collaborate. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). Board gender diversity thus explains about 1% of the variance in companies' engagement in CSR. And diverse teams, they found, were more likely to have some common experiences with their end user. Our data shows six countries that have over 30 percent women on boards—Norway, France, Sweden, Finland, New Zealand, and Belgium. “The benefits of diversity extend beyond the four walls of any single corporation. Looking ahead. While the trend of increasing ethnic diversity on boards is visible, the rate of change is considerably slower than the trend in board gender diversity. Women currently hold 19 percent of board positions there, while in European countries such as France, Norway, and Sweden, where legislative or voluntary targets are in place, they hold more than 30 . Under Nasdaq's Board Diversity Proposal, all operating companies listed on Nasdaq's U.S. exchange would be required to publicly disclose diversity statistics regarding their board of directors using the Board Diversity Matrix template found here, or a format substantially similar. There are encouraging signs, however, that businesses in Asia value the benefits of having women on their boards. While I’m immensely proud of this progress, I know we still need to do more to move the needle and demonstrate our commitment through concrete actions.”, Asia trails global trend in gender diversity. Specifically, a 10% increase in Blau’s gender diversity index (see more in our sidebar) related to a roughly 7% increase in market value. Deloitte Asia Pacific Limited is a company limited by guarantee and a member firm of DTTL. In Asia, several women hold senior leadership roles, but fewer serve on boards. Given that many board members are recruited from the executive level, this also contributes to a shortage of women in the boardroom. Many say yes — some researchers argue that gender diversity leads to more innovative thinking and signals to investors that a company is competently run. Green Park said its annual Leadership 10,000 report analysed gender and ethno-cultural diversity in the top executive posts in the year to August, and found continuing progress on gender diversity . Germany saw a 6.7 percent increase which is likely linked to recent gender quota legislation passed in 2015. Our finding extends past research that analyzed the differences between investors who rewarded firms that hired female board members from those that did not. Advocacy groups, asset managers and owners, regulators and even public companies themselves have acknowledged the need for more diverse boards, and as a result public companies face growing pressure to do something about it. Female directors held only 9% of board seats at MSCI Emerging Markets Index constituents (up from 8.4% in 2015). Finland saw a 7.2 percent increase through corporate governance code recommendations and the encouragement of career development programs for women. Euromoney People Intelligence is comprised of four unique brands: BoardEx, WealthEngine, Wealth-X and RelSci. Mandated gender quotas have been suggested as a policy measure to promote female career progression towards the top. Numerous statistics have been produced to promote gender diversity on company boards. Companies with female directors offer a higher CEO total remuneration, a higher percentage of short-term and long-term variable remuneration than those companies with all male boards. Find us online at: www.global.corpgov.deloitte.com. To supplement this data, Deloitte Global compiled information about diversity quotas and other board diversity initiatives from 17 additional countries. Found inside â Page 404This chapter provides some insights that could inform future gender diversity policy. 2. Background and Some Current Statistics 2.1. ... Apart from board roles, less research examines gender diversity in other top roles. Those that did value female board members were often part of pension funds, an industry that tends to strongly value gender and other forms of diversity. The US finds itself it 16 th place in this year's report with 29% female participation. However, in the energy sector in the Middle East, which has historically not been gender-inclusive, firms’ gender diversity was unrelated to company performance. When people from different contexts work together, their unique perspectives often lead to greater creativity. A collection of Butterfly Effect stories highlighting how our Deloitte professionals are positively impacting the lives of women and girls around the world. “If the global trend continues at its current rate of an approximately 1 percent increase of women on boards per year, we will be waiting more than 30 years to achieve global gender parity at the board level. Found inside â Page 158RECOMMENDATIONS AND CONCLUSION Gender diversity is not just the nice thing to do, or even the right thing to do. Diversity, within TMTs, boards, and also wider organisations, is absolutely necessary to ensure the proper functioning of ... It is a critical issue. Found inside â Page 29WOCBit represents BGD measured through the percentage of WOCB and the xit vector encompasses board ... Variable Mean Std Min Percentile 25 29 Board Gender Diversity and Firm Financial Performance Descriptive Statistics and Correlation ... To improve both cognitive and demographic diversity in the boardroom, we recommend that boards recruit racially, ethnically, and gender diverse directors who enhance diversity on two additional . Gender diversity has been considered by some state legislatures in recent years as they have explored different legislative solutions to the lack of female representation in the workplace. Sweden, known for its equitable approach to gender diversity, is paying special attention now to ethnic, racial, and religious diversity. The debate for higher female representation on corporate boards has become particularly intensive during the recent financial crisis. Board gender diversity reaches a new milestone. 7 things you can do to improve the sad, pathetic state of board diversity | Nonprofit and Friends | 2017 BoardSource just released its report on board diversity, and the statistics are frustrating, disappointing, and somewhat anger-inducing….The lack of diversity on boards is no longer just annoying. We took the top 1200 firms listed in the S&P Global Index and supplemented them with leading firms across 15 country-specific indexes (e.g., the Australia ASX 200 Index). Norway (39.4%), France (37.6%), and Sweden (35.6%) had the highest percentage of board seats filled by women. Seen as controversial in the UK, I think there is certainly a place for quotas. Among board members whose race was identified, non-white, Russell 3000 directors crossed the 10-percent threshold for the first time in 2019, compared to approximately 8 percent in 2008. Progress in increasing gender diversity on corporate boards and senior executive ranks While the global average posted a small uptick, only six countries in the world can claim an average above 30 percent. The data suggests that for diversity to work, workers have to buy into the value of diversity, not just hear some rules about it. This comparative study, which began in 2014, evaluates the progress of increasing female participation at the board, executive director and non-executive director levels. California became the first state to require companies based within its borders to put female directors on their boards, adding to pressure on boardrooms across the country to give more women a . The Handbook of Gender and Work provides a comprehensive overview and synthesis of the literature and knowledge about gender and work. This includes setting the tone from the top—making gender parity a priority throughout the entire organization and holding leadership accountable to make progress. Please see www.deloitte.com/about to learn more. The trickle-down effect of women in the boardroom, such as breaking down stereotypes, encouraging girls and young women to pursue careers traditionally dominated by men, and breaking down the wage gap are all important steps along the way to greater economic opportunity for women and to more inclusive workforces and societies,” continues Konigsburg. Public companies have made progress in increasing gender diversity on their boards and in executive leadership. Women hold just 4.4 percent of CEO positions globally. Board diversity reporting. The findings are based on an extensive review of the literature, company-level data analysis and interviews with leading experts in the region. In fact, a significant number of the respondents explained that they were directly approached by the board or a member of the board about the position, while 67% knew up . Only 15% of FTSE 100 companies fully complied with the UK Corporate Governance code's provision on diversity reporting. Gender balance on government boards statistics Overall Gender Balance on Government boards On 31 December 2020, women held 49.5 per cent of Government board positions. To measure the regulatory support, we looked at the World Bank’s biannual report that measures gender inequality in the law. While there are no quotas in place, significant efforts have been put in place to advance efforts such as the 2011 Davies Review target which called for FTSE100 companies to have at least 25 percent women on boards by 2015, which was achieved. When the dust settled on activist fund Mantle Ridge LP’s two previous campaigns — targeting CSX Corp. (CSX) and Aramark (ARMK)— both companies installed new CEOs backed by the insurgent manager. Found inside â Page 7-67Washington state has also adopted requirements for gender diversity of boards for companies that are ... companies listed on its U.S. exchange to âpublicly disclose consistent, transparent diversity statistics regarding their board of ... Here is a three year trend of our global gender and U.S. race and ethnicity data as of December 31, 2020. Bo Young Lee, Chief Diversity and Inclusion Officer. BoardEx is part of the Euromoney Institutional Investor PLC group, Insights on C-suite Board Gender Diversity, KPMG Nomination Committees – Membership Diversity, Leadership Diversity Analysis: The U.S. Healthcare Industry, Citrix Adds Vista-Backed Wrike to Boost Remote Work Capabilities, View the Diversity of a Company’s Board and Leadership Team. Found inside â Page 538... Appointments to ASX 200 Boards, indicates a general change in people's attitude towards http://aicd.companydirectors.com.au/advocacy/board-diversity/statistics. gender diversity.22 EXHIBIT 13.3 Percentage of female directors on ASX ... Australasia has the highest boardroom gender diversity at 26.1 percent. to the board failing to meet its minimum 25% board gender diversity threshold. We then collected data on the country-industry context, specifically the normative acceptance of gender diversity. More key findings from the research include: In countries with the highest or fastest growing boardroom gender diversity, data reveals there is no one-size-fits-all solution, Boardroom diversity across the Americas rising slowly, Boardroom diversity in Australasia continues to rise, To read the full report, please visit: www.deloitte.com/WOB6, About Women in the Boardroom: A Global Perspective. The first was asset turnover ratio, which measures revenue per asset, and is a strong indicator of actual performance. Regulatory nudge brings in gender diversity in board rooms: IiAS Premium MNCs have a higher women representation in the board of directors at 19%, while PSUs trail behind at 11%. Jakarta, 31 October 2019 – Deloitte Global’s sixth edition of Women in the Boardroom: A Global Perspective reports that women hold just 16.9 percent of board seats globally, a 1.9 percent increase from the report’s last edition published in 2017.
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