Helene G. Lollis -  6/12/12

No single individual, male or female, can sustain the critical initiatives required to promote and maintain gender diversity in an organization.

Gender diversity has an impact on business performance. The “Bottom Line” reports from Catalyst demonstrate that organizations with more women in senior leadership enjoy higher returns to shareholders, on equity and on invested capital. McKinsey & Co. research findings are similar, with its “Women Matter” reports touting markedly higher return on equity and improved operating results for global companies with gender-diverse executive committees.

Yet, this same McKinsey research also shows that while the majority of men and women recognize gender diversity as a performance driver, the implementation of key measures and impactful initiatives remains limited; a small percentage of companies identify gender diversity as a top 10 priority. Some assert the “problem” has been solved and no initiatives are required — Bain & Co. in its “Gender Parity Up the Corporate Ladder” work said 66 percent of men believe that women have equal opportunity to be promoted to leadership; less than a third of women agreed.So, what is happening in organizations and board rooms today? Is gender diversity a top-tier issue? In many organizations, one senior female leader leads the charge and maintains focus on this issue. These women understand the compelling business rationale to grow female talent, know the criticality of aligning the organization to the customer and employee base, and as a result have become the de facto “chief of women’s issues.” But this role can be a dubious honor. While it creates an opportunity to leave a legacy of positive change, the moniker can trivialize the issue or marginalize the executive.Impacting Business Outcomes
High-ranking women focus on this issue for all the right reasons. Senior executives are drawn to that which creates competitive advantage, and diversity leaders know the case for business impact is clear based on the aforementioned statistics. Further, in looking to the future, more than half of all college graduates are women. Forward-thinking organizations understand the importance of attracting and retaining this critical percentage of the talent pool.