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Can women save the economy


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JUMP - Can Women save the Economy?

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Can women save the economy

  1. 1. WWW.JUMP.EU.COM Can Women save the Economy? Isabella Lenarduzzi
  2. 2. WWW.JUMP.EU.COM JUMP supports companies and organisations that wish to promote better gender diversity within their management. JUMP offers women practical tools to help them realise their professional and personal aspirations
  3. 3. WWW.JUMP.EU.COM 3
  4. 4. WWW.JUMP.EU.COM  Sex: biological indicator that is based on reproductive organs, and cellular and hormonal functional characteristics. Gender identity: to feel as a man, a woman, or other  Genre : socially construct, a result of continuous transactions and complexes originating from infancy environment, based on imposed factors of femininity and masculinity 4 Sex or gender?
  5. 5. WWW.JUMP.EU.COM 5 Stereotypes
  6. 6. WWW.JUMP.EU.COM 6 Global Gender GAP (World Economic Forum) 4 fields: education, health, economy and politics Iceland /Finland / Norway / Sweden Ireland (5)/ Switzerland (8)/Denmark (14) Belgium – 19° France (15)/ NL /D(11) / UK (18) Canada (30) / USA (28) Luxembourg (32) - Portugal (39) Italy (41) – Greece (87)
  7. 7. WWW.JUMP.EU.COM 7 Women’s energy and talent are the most untapped renewable sources of energy in the world!
  8. 8. WWW.JUMP.EU.COM Europe : 59% of university degrees are earned by women 8 Talent Pool
  9. 9. Gender pay gap
  10. 10. WWW.JUMP.EU.COM 10 Part-time working in Belgium 45% women // 9,5% men
  11. 11. WWW.JUMP.EU.COM 11 Fill in skills shortages on the labour market Preserve the european social security system Companies increase performance GDP increase The case of Gender Equality
  12. 12. WWW.JUMP.EU.COM Still a long way to go! 12 European figures
  13. 13. 13
  14. 14. WWW.JUMP.EU.COM The business case for women maintains that companies that have diversity and manage it properly make better decisions, produce better products, and retain several key business advantages over more homogenous companies. 14 More performance
  15. 15. WWW.JUMP.EU.COM The business case for women maintains that companies that have diversity and manage it properly make better decisions, produce better products, and retain several key business advantages over more homogenous companies. 15 Equality = more performance © McKinsey & Company Verified Non available- Not verified Companies with 0 women in executive committee in that specific sector Companies in the top quartile for the women representation in executive committee vs. sector1
  16. 16. WWW.JUMP.EU.COM Most executives recognise the impact of gender diversity on financial performance, but more women than men and more C-levels than middle managers © McKinsey & CompanyConvinced Not convincedDon't know C-level (CEO, COO, CFO, etc.) 15 6 23 4 100 Women (n=233) 90 Men (n=212) 10062 +27 n=445 Middle management 22 9 28 6 Women (n=276) 85 Men (n=188) 50 +26 n=464 Much research has shown that companies with diverse leadership teams that include significant numbers of women generate higher financial returns. Do you believe this to be true?
  17. 17. WWW.JUMP.EU.COM A total equality within the European Union could bring a 27% increase of the GDP
  18. 18. WWW.JUMP.EU.COM Women in executive committees (2011) 19
  19. 19. WWW.JUMP.EU.COM Women on boards – end 2014 20
  20. 20. WWW.JUMP.EU.COM Glass ceiling or leaky pipeline ?
  21. 21. WWW.JUMP.EU.COM Organisational pyramid
  22. 22. WWW.JUMP.EU.COM The disparity of female business leaders has not narrowed significantly
  23. 23. WWW.JUMP.EU.COM Gender diversity in top management varies by industry 2010 © McKinsey & Company 6 9 10 10 13 14 15 16 16 Real estate and infrastructure Transportation, logistics and tourism Energy, basic materials and environment Diversified Industries Healthcare Science and technology Finance, insurance and professional services Telecom, media and entertainment Consumer goods and retail Women in executive committees Percent Women in boards Percent 8 9 7 6 8 13 11 11 12 Number of companies 41 30 68 14 9 81 96 18 14 41 28 66 13 8 75 92 18 13 Notes: Proprietary database; 441 companies within the local reference index: Norway (OBX – 25), Sweden (OMXS – 29), France (CAC 40), Germany (DAX 29), Spain (IBX 35), Russia (RTSI 50), Brazil (Bovespa 52), China (SSE50), India (Sensex 30). For the UK, data from the Cranfield University “The Female FTSE Board Report 2009” (FTSE 100). For executive committees: selection of the 362 companies which disclose their executive committee members
  24. 24. How do we use the biggest talents pool?
  25. 25. WWW.JUMP.EU.COM Actions promoted by governments “The quota law has opened boardrooms to an extent that we’ve never seen before,” Mari Teigen, research director, Norwegian Institute for Social Research
  26. 26. WWW.JUMP.EU.COM Norway Norway was the first country in the world to implement board quotas  Numbers of women on corporate boards have risen from only 6% in 2002 to over 40% today.  "By not utilising the full talent pool I knew Norway as a nation was missing out. My ambition as a Minister was to force companies to rethink their board recruiting practices. I believe we succeeded," Ansgar Gabrielsen (Former Minister of Trade) “We have invested billions educating our daughters as much as our sons,” Gabrielsen said. “Their ongoing exclusion from corporate boards, which are an important part of our society just doesn’t make economic sense”
  27. 27. WWW.JUMP.EU.COM Initiatives With the legislation on equality in Belgium, the proportion of women in parliaments has risen more than 20% in ten years
  28. 28. WWW.JUMP.EU.COM Change in companies’ culture
  29. 29. WWW.JUMP.EU.COM Building a whole gender-diversity ecosystem © McKinsey & Company Developing women as leaders… Mentoring Training and coaching Networks and role models CEO and executive team's visible monitoring of progress in gender-diversity programs CEO commitment HR processes and policies Gender-diversity indicators Infrastructure … supported by collective enablers GENDER DIVERSITY ON TOP OF THE STRATEGIC AGENDA
  30. 30. WWW.JUMP.EU.COM Implementation of gender-diversity measures remains low, and even lower for SMEs © McKinsey & CompanyPercent, 2010, n=1,5341, mid-level and up respondents only 32 37 36 20 38 39 40 36 No specific measures 1-3 measures 4-5 measures 6 measures or more More than 20,000 employees (n=429) 9 Less than 500 employees (n=583) 17 7 Total (n=1,534) 17 13 20 24 Between 500 and 20,000 employees (n=522) 15 2.5 2.0 2.2 3.5 Average number of measures implemented Number of measures undertaken in the past five years to recruit, retain, promote and develop women 1 Does not include the respondents who did not know which measures were implemented in their companies
  31. 31. WWW.JUMP.EU.COM
  32. 32. WWW.JUMP.EU.COM Negative factors Factors most likely to prevent women from advancing • Work-life balance • Lack of executive sponsor • Willingness to relocate • Limited social network and connections • Confidence
  33. 33. WWW.JUMP.EU.COM Obstacles Prouvez le encore une fois! Les femmes doivent prouver leur compétence à chaque fois, là où les hommes bénéficient du bénéfice du doute. Sur la corde raide Les femmes sont obligées de choisir entre être appréciée ou être respectée. La maternité Après une maternité, les femmes sont automatiquement considérées comme moins impliquées dans leur carrière et moins mobiles. Lutte acharnée Quand il y a peu de place au top pour plusieurs femmes, certaines entrent en compétition au lieu d’être solidaires.
  34. 34. WWW.JUMP.EU.COM Role expectation theory
  35. 35. WWW.JUMP.EU.COM 36 Men and Women Offer Employers Different but Equally Important Skills for Driving the Business
  36. 36. WWW.JUMP.EU.COM JUMP survey on leading women • 95%: As leaders, women bring different but complementary skills • 71%: Companies do not place a high enough value on women skills • 60%: Corporate training / development do not take into account women’s learning preferences and styles
  37. 37. WWW.JUMP.EU.COM JUMP survey on leading women • 72%: Men’s opinions are respected more than women’s for key decisions • 69%: Women are still not recognised and promoted on an equal basis skills Some companies recognise the value of having women in senior positions, but not all of them take active measures to change the status quo.
  38. 38. WWW.JUMP.EU.COM Work and family responsibilities should be completely shared
  39. 39. WWW.JUMP.EU.COM 3 career advices to women by Sheryl Sandberg COO Facebook 1. Seat at the table 2. Make your partner a real partner 3. Don’t leave before you leave
  40. 40. WWW.JUMP.EU.COM Beyond the gender difference: every individual has a “feminine” side and a “masculine”. Today’s leader knows how to value both of them!
  41. 41. The war of sexes is over.
  42. 42. WWW.JUMP.EU.COM What’s good for women is also good for men. Women will be able to save the economy with conscious Men.
  43. 43. WWW.JUMP.EU.COM Wo.Men, Work, World: the unfinished revolution IT’S TIME TO CHANGE!
  44. 44. WWW.JUMP.EU.COM Isabella Lenarduzzi Founder and Managing Director of JUMP +32 3 346 32 00