Gender Intelligence: A Research Compendium BRIDGING THE ... · 10 The Double-Bind Dilemma for Women in Leadership: Damned If You Do, Doomed If You Don’t Why Diversity Matters 11

Gender Intelligence: A Research Compendium

Center for Applied Research

RESEARCH,SCIENCE &RELEVANCE

BRIDGING THE GAP WITH

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Gender Intelligence: Bridging the Divide

At State Street, we believe it is critical that we lead with gender intelligence, a business-driven commitment to understanding how to build diverse leadership and workplace teams. Businesses are facing global competitive and economic imperatives that are urging them to secure talent and build leadership in differentiated ways, including the consideration of new approaches to addressing gender discrepancies in the workplace.

For decades, the data have charted the gaps between men and women in the workplace. For example:

• 37% of MBAs are women, yet only 4.6% of S&P 500 CEOs are women.1

• Working dads who have family-related work absences are less likely to be recommended for promotions and receive lower performance ratings.2

• In 2013, the median weekly earnings for women in full-time management, professional and related occupations was $973, compared with $1,349 for men.3

Additionally, research points to the importance of diversity as it relates to leadership and the bottom line:

• Companies with a higher proportion of women in their executive committees have better financial performance—41% better return on equity and 56% better in terms of overall earnings before interest and taxes.4

• Teams with an equal mix of men and women outperformed male-dominated teams in profits and sales, and performance peaked when a team had about 55% women.5

Employers have committed significant resources throughout the years to create a more diverse and inclusive workforce with women’s networks, recruitment strategies and mentorship programs to promote and encourage the success of women. Yet, still in 2015, the workplace shows a slow progression toward a more diverse workforce, particularly in the higher ranks of management and leadership. We see this to be particularly true in financial services, where we have actually seen a decline in women’s participation and leadership.

“Companies that lead with gender intelligence—by educating men to understand the unique value that women bring to the table and educating women as to the reasons why men think and behave as they do—are far more successful in advancing women and men in unison. They are better able to sustain gender balance at all levels of the organization.”

BARBARA ANNIS AND JOHN GRAYWork with Me: The 8 Blind Spots between Men and Women in Business

GENDER INTELLIGENCE: A RESEARCH COMPENDIUM

4 BRIDGING THE GAP WITH RESEARCH, SCIENCE & RELEVANCE

Reframing the Gender Gap: The Business Imperative

At State Street, we believe that by reframing the diversity discussion to center around gender intelligence, we can advance the achievements of women and men in the workplace.

Emerging research—from psychology to physiology and biology, including studies ofthe brain—can intelligently inform how we develop, test and refine programs and practices to impact inclusiveness and diversity, as well as overall workplace productivity and competitiveness.

Following is a compendium of the research that we have started to gather to help us understand the drivers behind gender disparity. We hope that you are able to use this research compendium to create your own gender intelligence agenda, to partner with academics or to lead discussions with your management teams to bring relevant research and practical solutions to your organization.

If you’d like to discuss the topic of gender intelligence or contribute more insights to our research compendium, please contact our head of diversity and inclusion, Julianne J. Haskell: [email protected].

1 “By the Numbers.” Catalyst 2013.2 “Brave Men Take Paternity Leave.” Gavett, Gretchen. 07 July 2014. blogs.hbr.org.3 “Women, Earnings and Income.” Catalyst Knowledge Center. http://www.catalyst.org/knowledge/

womens-earnings-and-income#footnote3_hkx3w19.4 “Women Matter: Women at the Top of Corporations — Making It Happen.” McKinsey & Company. 2010. http://

www.mckinsey.com/~/media/mckinsey/dotcom/client_service/Organization/PDFs/Women_matter_oct2010_english.ashx.

5 Sander Hoogendoorn, Hessel Oosterbeek, and Mirjam van Praag. “The Impact of Gender Diversity on the Performance of Business Teams: Evidence from a Field Experiment.” Social Sciences Research Network. Working Paper Series. 28 April 2011.

KELLY MCKENNA Senior Vice President, Global Head, Center for Applied Research

KRISTI MITCHEM Executive Vice President, State Street Global Advisors

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07 Women Matter: Achieving the Promise of Women Executives

High-Potential Employees in the Pipeline: Maximizing the Talent Pool in Canadian Organizations

Covered by Equality: The Gender Subtext of Organizations

08 Sisyphus’ Sisters: Can Gender Mainstreaming Escape the Genderedness of Organizations?

09 Critical Trends and Shifts in the Mentoring Experiences of Professional Women

When Performance Trumps Gender Bias: Joint versus Separate Evaluation

Women Face Hard Retirement Choices

10 The Double-Bind Dilemma for Women in Leadership: Damned If You Do, Doomed If You Don’t

Why Diversity Matters

11 Mentoring as a Strategy for Gender Inclusion: A New Vision for Advancing Women and Engaging Men

Constraints into Preferences: Gender, Status, and Emerging Career Aspirations

12 Anatomy of Change: How Inclusive Cultures Evolve

Racial Diversity, Racial Asymmetries, and Team Learning Environment: Effects on Performance

Taking Gender into Account: Theory and Design for Women’s Leadership Development Programs

13 Why Men Still Get More Promotions Than Women

Gender Diversity in Editorial Boards of Management Journals: An Update

15 The Gender Quota and Female Leadership: Effects of the Norwegian Gender Quota on Board Chairs and CEOs

The Discursive Construction of Gender in Contemporary Management Literature

16 Women, Culture and Competitiveness

The Mask You Live In

Women in Fund Management: The Report

17 Engaging Men in Gender Initiatives: What Change Agents Need to Know

Engaging Men in Gender Initiatives: Stacking the Deck for Success

Calling All White Men: Can Training Help Create Inclusive Workplaces?

18 New Exercises Fight Achievers’ Imposter Fears

The Study on White Men Leading Through Diversity & Inclusion

What’s in It for Me? The Self-Interest in Collaborative Leadership for Men

19 Why So Few Women Directors in Top UK Boardrooms? Evidence and Theoretical Explanations

The Imperative

Miss Representation

Counting Women and Balancing Gender: Increasing Women’s Participation in Governance

CONTENTS



20 Gender Pay Gap Exposed: How Boston Firms Are Tackling It

Cascading Gender Biases, Compounding Effects: An Assessment of Talent Management Systems

Global Gender Gap

What Data Analytics Says About Gender Inequality in the Workplace

21 Sex Differences in the Structural Connectome of the Human Brain

22 10 Ways to Improve Your Company’s Diversity Results

Sex and Brains: Vive la Différence!

Overturning the Myth of Valley Girl Speak

24 Want Better Hedge Fund Returns? Try One Led by a Woman

Women Don’t Need to Lead Better Than Men. They Need to Lead Differently

25 “Feminine” Values Can Give Tomorrow’s Leaders an Edge

Massachusetts Fellowships Aim to Elevate Women in Business

26 Gender & Work: Challenging Conventional Wisdom, Prescriptions and Punishments for Working Moms

27 Brave Men Take Paternity Leave

Women on the Rise

Women Rising: The Unseen Barriers

28 Great Leaders Who Make the Mix Work

How Women Decide

29 Women in the Workplace: A Research Roundup

The Missing Women of Asset Management

Manage Your Work, Manage your Life

30 The Confidence Code

Seven Steps to Leading a Gender-Balanced Business

When Women Thrive Businesses Thrive

33 Mind the Gender Gap: Understanding Women as Consumers of Investment Services

Picking the Right Battle: Lessons from the Gender Debate in Motor Insurance

Spotlight on Russia

34 Spotlight on Canada: A Web of Support for Gender Diversity

Women on the Board: Token or Totem?

Spotlight on Sweden: Going from Good to Great

35 Risk Culture: No Silver Bullet: More Women on the Trading Floor Is Not the Answer for Improving Risk Culture

Catching Up from the Back of the Pack: Oliver Wyman’s Experience

36 Women in Financial Services— from Evolution to Revolution: The Time Is Now

The Management Power Line

37 What Are the Obstacles to Women in Advancing Their Careers?

Work Redesign for Better Work and Better Life: A Framework for Organizational Change

38 The CS Gender 3000: Women in Senior Management

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Women Matter: Achieving the Promise of Women Executives

More than 90 percent of Europe’s top companies have plans to increase the number of women in top jobs. Yet women account for more than a quarter of senior-management jobs in only 8 percent of companies. People are asking why women are not making it to the top positions despite having many qualified women in the workforce. This McKinsey study finds that diversity in the workplace is important for two reasons: Since women are 50 percent of the talent pool, it makes it possible to have the best brains among women and men who can fill up the talent shortage, and performance or competitiveness of corporations is impacted by the number of women at the top. Companies with three or more women in senior-management jobs score higher on criteria related to organizational health. There is, therefore, a correlation between gender diversity and a company’s performance. This may be attributed to the diversity in leadership behavior that women bring (women tend to collaborate on decision making, unlike men). Since McKinsey’s first “Women Matter” research in 2006, the level of awareness of having women in leadership has increased. However, change is not happening at the board of director and executive levels. Cultural challenges are still affecting women’s leadership ambitions too. For example, in Asia, women executives cite the double burden of work and caring for family as the single greatest barrier to gender diversity.

Barsh, Joanna, et al. “Women Matter: Achieving the Promise of Women Executives.” McKinsey & Company Features. Web. 18 Dec 2013 mckinsey.com/features/women_matter.

High-Potential Employees in the Pipeline: Maximizing the Talent Pool in Canadian Organizations

Freshly minted MBA graduates enter the workforce every year competing for positions at elite organizations around the world. But these high-potential employees are not the only ones competing—organizations also duke it out to attract top talent who they hope to retain as their organization’s future leaders. In this battle to attract the best and the brightest, it is critical that organizations understand the women and men at the top of the talent pool. While high-potential Canadians’ experiences parallel those of their global peers in some regards, there are significant regional differences in their career-path choices that impact both an organization’s recruitment and retention efforts as well as its ability to compete in the global economy. This report shows that high-potential Canadian women earn less than men in their first post-MBA jobs, start out at a lower job level and are offered fewer career-accelerating work experiences and international postings.

Beninger, Anna. “High-Potential Employees in the Pipeline: Maximizing the Talent Pool in Canadian Organizations.” Catalyst Knowledge Center. Web. 18 Dec 2013 catalyst.org/knowledge/high-potential-employees-pipeline-maximizing-talent-pool-canadian-organizations.

Covered by Equality: The Gender Subtext of Organizations

This paper describes the results of an empirical study of the gender subtext in organizations. It examines the divergence



of practice and impression of gender distinctions: Gender inequality is persistent in organizational practices while a dominant perception of equality occurs at the same time. The analysis focuses on the processes producing this divergence. The authors argue that the persistency of gender inequality and the perception of equality emerge from a so-called gender subtext, the set of often concealed, power-based gendering processes (i.e., organizational and individual arrangements, such as objectives, measures, and habits) that systematically produce gender distinctions. These gendering processes are examined in five departments in the Dutch banking sector. They explore the gender subtext in three organizational settings: show pieces (the token position of the few women in top functions), the mommy track (the side track many women with young children are shunted to) and the importance of being asked (the gendered practices of career making).

Benschop, Y., et al. “Covered by Equality, the Gender Subtext of Organizations.” Organization Studies 19-5, 787-805. 1998.

Sisyphus’ Sisters: Can Gender Mainstreaming Escape the Genderedness of Organizations?

Currently, gender mainstreaming is presented as bringing new élan to gender-equality policies. Gender mainstreaming is a gender-equality strategy that aims to transform organizational processes and practices by eliminating gender biases in existing routines, involving the regular actors in this transformation process. In this article, the authors question the aspirations of gender mainstreaming. Can gender mainstreaming escape the genderedness of organizations, and genuinely effect change, or does it inevitably become compromised? Their analysis of a case project within human resource management in the Ministry of the Flemish Community in Belgium shows that gender mainstreaming does indeed bring about changes, but it does not break down the genderedness of organizations substantially. While gender mainstreaming invokes an image of cooperation between equal parties pursuing a dual agenda of business needs and feminist goals, the

Barsh, Joanna, et al. “Women Matter: Achieving the Promise of Women Executives.” McKinsey & Company Features. Web. 18 Dec 2013.

More than

90%of Europe’s top companies

have plans to increasethe number of women

in top jobs.

Yet womenaccount for more than a quarter of senior-

management jobs in only

8% of companies.

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analysis shows that crucial power differences between those parties determine the outcome. The complex social dynamics of gender mainstreaming entail compromises in the context of these power differences, which seriously hinder the transformative and innovative potential of gender mainstreaming.

Benschop, Y., et al. Sisyphus’ Sisters. “Can Gender Mainstreaming Escape the Genderedness of Organizations?” Journal of Gender Studies 15, 1, 19-33. 2006.

Critical Trends and Shifts in the Mentoring Experiences of Professional Women

Women have made great strides in terms of workforce participation. Recent statistics indicate that 47 percent of the total U.S. workforce is now female. The percentage of women in managerial positions in the United States has risen from 32 percent in 1983 to 49 percent as of 1997, with more gains by women expected in the years to come. Yet, in spite of the progress that women have made in advancing their careers in organizations, there are still barriers preventing them from reaching the upper echelons in significant numbers. A recent survey commissioned by the Committee of 200 (C200) provided a report card of how businesswomen are faring in relation to their male counterparts. The C200 Business Leadership Index is composed of data from 10 key areas synthesized into an overall index; the index consists of 10 scores, each one based on a 10-point scale. On this scale of 1 to 10, with parity with men equaling 10, the overall index number was 3.95. C200 suggests that

increased access to mentoring for women may be one step toward achieving gender equity. In this article, the author explores the impact of informal mentoring on the career experiences of women in the corporate sector.

Blake-Beard, Stacey. “Critical Trends and Shifts in the Mentoring Experiences of Professional Women.” The Linkage Leader. 2013.

When Performance Trumps GenderBias: Joint versus Separate Evaluation

The study examines a new intervention to overcome gender biases in hiring, promotion and job assignments: an “evaluation nudge,” in which people are evaluated jointly rather than separately regarding their future performance. Evaluators are more likely to focus on individual performance in joint evaluations, rather than in separate evaluations, and they focus on group stereotypes in separate evaluations more than in joint evaluations, making joint evaluations the money-maximizing evaluation procedure. The findings are compatible with a behavioral model of information processing and with the “system one over system two” distinction in behavioral decision research, where people have two distinct modes of thinking that are activated under certain conditions.

Bohnet, Iris, et al. “When Performance Trumps Gender Bias: Joint versus Separate Evaluation.” Working Paper. JEL: C91; D03. 2012.

Women Face Hard Retirement Choices

Women face a set of unique problems when planning for retirement. For a variety of reasons, women end up with less in savings and receive lower Social



Security benefits. A financial plan is imperative for women to overcome these obstacles. Longevity, unequal pay and conservative tendencies when it comes to investing are among the challenges. Women are also less comfortable with financial advisors. E-Trade’s Lena Haas, senior vice president for retirement, investment and savings, says women are not comfortable with financial advisors and rank them dead last in a list of 60 industries—below used-car salesmen. “Almost 80 percent of women in a survey say that they wish that financial advisors talked to them and asked them for opinions, and not just their husbands,” she said. “Even if she comes along, the woman is just sitting there. Lots of times they don’t have the paperwork. They feel like they are being talked down to.”

Brooks, Rodney. “Women Face Hard Retirement Choices.” USA TODAY. Web. 18 Nov 2013 usatoday.com/story/money/columnist/brooks/2013/11/18/retirement-women-401k-financial-planners-social-security/3618389/.

The Double-Bind Dilemma for Women in Leadership: Damned If You Do, Doomed If You Don’t

This report analyzes open-ended answers to survey questions as well as one-on-one interviews to reveal that gender stereotypes can create several predicaments for women leaders. Because they are often evaluated against a masculine standard of leadership, women are left with limited and unfavorable options, no matter how they behave and perform as leaders. In particular, three situations put women in

a double bind and can potentially undermine their leadership as well as their own advancement options: extreme perceptions (women are seen as too soft or too tough but never just right), the high competence threshold (women leaders face higher standards and lower rewards than men leaders), and the problem of being seen as competent but being disliked (women leaders are perceived as competent or liked but rarely both).

“The Double-Bind Dilemma for Women in Leadership: Damned If You Do, Doomed If You Don’t.” Catalyst Knowledge Center. Web. 18 Dec 2013 catalyst.org/knowledge/double-bind-dilemma-women-leadership-damned-if-you-do-doomed-if-you-dont-0.

Why Diversity Matters

Leaders working to create diverse and inclusive workplaces in which women can advance must make the connection between diversity initiatives and their organization’s business goals. Effective business cases set the context for diversity and identify organizational challenges that must be addressed in order to create change. This tool grounds the business case for diversity in solid research. It is not a bibliography of business case research, but it is intended to provide readers with recent data to use in their efforts to build an organizational business case for diversity and inclusion. The studies included are generally from 2007 to the present, with a few additional significant studies going back to 2004.

“Why Diversity Matters.” Catalyst. 2013.

Candid, respectful communication (and lots of it) is the foundation for building a more inclusive workplace and achieving concrete change.Dinolfo, Sarah, et al. “Anatomy of Change: How Inclusive Cultures Evolve.” Catalyst Knowledge Center. 2013.

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Mentoring as a Strategy for Gender Inclusion: A New Vision for Advancing Women and Engaging Men

This is a case study of Chubb Corporation’s commitment to gender diversity as part of its culture. Several years ago, Chubb’s executive leadership was eager to do more to advance the top emerging talent and recognized that this group included many women. As they developed new relationships with the increasing number of women in the organization—many of whom were direct reports—the leadership team began to ask themselves what they could do to advance women at Chubb. Chubb developed the Women’s Development Council, which served as a vehicle to provide women with a direct voice to executive management. In time, the council developed a clear strategy with measured outcomes. Integral to the success of the council is not only the voice it gives its women members but also the presence of a dedicated group of executives who provide an engaged and supportive ear to listen to that voice. Because men constitute a large percentage of the executive leadership team, it follows that engaging men is necessary to achieve the desired results: advancing women, developing leaders, and producing an inclusive workplace for all employees.

“The Chubb Corporation—Mentoring as a Strategy for Gender Inclusion: A New Vision for Advancing Women and Engaging Men.” Catalyst Practices. 2013. Catalyst.

Constraints into Preferences: Gender, Status, and Emerging Career Aspirations

This study presents an experimental evaluation of a model that describes the constraining effect of cultural beliefs about gender on the emerging career-relevant aspirations of men and women. The model specifies the conditions under which gender status beliefs evoke a gender-differentiated double standard for attributing performance to ability, which biases the way men and women assess their own competence at tasks that are career relevant, controlling for actual ability. The model implies that if men and women make different assessments of their own competence at career-relevant tasks, they will also form different aspirations for career paths and activities believed to require competence at these tasks. Data from the experiment support this model. In one scenario, male and female undergraduate participants completed an experimental task after being exposed to a belief that men are better at this task. In this situation, male participants assessed their task ability higher than female participants did, even though all were given the same scores. These men also had higher aspirations for career-relevant activities described as requiring competence at the task. No gender differences were found in either assessments or aspirations in a second scenario where participants were instead exposed to a belief that men and women have equal task ability. To illustrate the utility of the model in a “real world,” i.e.,



nonlaboratory setting, results are compared with a previous survey study that shows men make higher assessments of their own mathematical ability than women, which contributes to their higher rates of persistence on paths to careers in science, math, and engineering.

Correll, Shelley J. “Constraints into Preferences: Gender, Status, and Emerging Career Aspirations.” Cornell University. Web. 20 Dec 2013 people.uncw.edu/maumem/soc500/Correll2004.pdf.

Anatomy of Change: How Inclusive Cultures Evolve

Catalyst sought to answer how to make a seriously male-oriented organization more inclusive, so both women and minorities can advance. In its findings, the group notes that getting men involved and having all employees talking more honestly about their differences can make a difference. Candid, respectful communication (and lots of it) is the foundation for building a more inclusive workplace and achieving concrete change. The present study corroborates earlier research findings done by Catalyst, which reveal initial quantitative evidence of a culture shift that began to occur after Rockwell Automation’s senior leaders participated in two leadership development programs (White Men’s Caucuses and White Men and Allies Learning Labs).

Dinolfo, Sarah, et al. “Anatomy of Change: How Inclusive Cultures Evolve.” Catalyst Knowledge Center. catalyst.org/knowledge/anatomy-change-how-inclusive-cultures-evolve.

Racial Diversity, Racial Asymmetries, and Team Learning Environment: Effects on Performance

The authors analyze two years of data from 496 retail bank branches to investigate racial asymmetries in the dynamics of team learning and their impact on the link between diversity and bottom-line performance. As expected, minorities’ negative assessments of their team’s learning environment precipitate a negative relationship between diversity and performance, irrespective of white teammates’ assessments; only when both groups view the team’s learning environment as supportive—implying that the team has successfully countered the negative effects of societal stereotypes on cross-race learning—is the relationship positive. The authors conclude that acknowledging the impact of societal asymmetries between racial groups, especially in regard to learning, can reorient research about the link between identity-group-based diversity and performance.

Ely, Robin J., et al. “Racial Diversity, Racial Asymmetries, and Team Learning Environment: Effects on Performance.” Organization Studies 33, 341–362.

Taking Gender into Account: Theory and Design for Women’s Leadership Development Programs

This paper conceptualizes leadership development as identity work and shows how subtle forms of gender bias in the culture and in organizations interfere with the identity work of women leaders. Based on this insight, the authors revisit

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traditional approaches to standard leadership topics, such as negotiations and leading change, developmental tools, such as 360-degree feedback and networking. They then reinterpret them through the lens of women’s experiences in organizations and revise them in order to meet the particular challenges women face when transitioning into senior leadership. By framing leadership development as identity work, they reveal the gender dynamics involved in becoming a leader, offer a theoretical rationale for teaching leadership in women-only groups, and suggest design and delivery principles to increase the likelihood that women’s leadership programs will help women advance into more senior leadership roles.

Ely, Robin J., et al. “Taking Gender into Account: Theory and Design for Women’s Leadership Development Programs.” Academy of Management Learning & Education 10, 3. 2011.

Why Men Still Get More Promotions Than Women

Though companies now invest heavily in mentoring and developing their best female talent, all that attention doesn’t translate into promotions. A Catalyst survey of more than 4,000 high-potential employees shows that more women than men have mentors—yet women are paid $4,600 less in their first post-MBA jobs, hold lower-level positions, and feel less career satisfaction. To better understand why, the authors conducted in-depth interviews with 40 participants in a mentoring program at a large multinational. All mentoring is not created equally, they discovered. Only

sponsorship involves advocacy for advancement. The interviews and survey alike indicate that, compared with their male peers, high-potential women are over-mentored, under-sponsored, and not advancing in their organizations. Without sponsorship, women not only are less likely than men to be appointed to top roles but may also be more reluctant to go for them. Organizations such as Deutsche Bank, Unilever, Sodexo and IBM Europe have established sponsorship programs to facilitate the promotion of high-potential women. Programs that get results clarify and communicate their goals, match sponsors and mentees on the basis of those goals, coordinate corporate and regional efforts, train sponsors, and hold those sponsors accountable.

Ibarra, Herminia, et al. “Why Men Still Get More Promotions Than Women.” Harvard Business Review. Web. 19 Dec 2013 insead.edu/facultyresearch/research/details_articles.cfm?id=28301.

Gender Diversity in Editorial Boards of Management Journals: An Update

The study examines women’s representation in editorial boards on management during a 15-year period. It uses secondary data from 57 journals covering approximately 10,000 editorial board members and nearly 10,000 articles. The results show that women continue to be underrepresented on editorial boards in relation to their representation as first authors of articles published in those journals. Three factors explain the underrepresentation of women on editorial boards: the field of study, the journal’s prestige and the editor’s gender. The



A Catalyst survey ofmore than 4,000 high-potential employees shows that more women than men have mentors—yet women are paid $4,600less in their first post-MBAjobs, hold lower-level positions, and feel less career satisfaction.”Barra, Herminia, et al. “Why Men Still Get More Promotions Than Women.” Harvard Business Review. Web. 19 Dec 2013.

“

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Barra, Herminia, et al. “Why Men Still Get More Promotions Than Women.” Harvard Business Review. Web. 19 Dec 2013.

persistent gender imbalance in the editorial boards of many management journals in the last 15 years hinders women’s ability to attain scholarly recognition and advancement, and it carries the risk of narrowing the nature and scope of the enquiry in management.

Isabel Metz, et al. “Gender Diversity in Editorial Boards of Management Journals: An Update.” Academy of Management Learning and Education. Web. 19 Dec 2013 harzing.com/download/wieb.pdf.

The Gender Quota and Female Leadership: Effects of the Norwegian Gender Quota on Board Chairs and CEOs

This article uses a sample of Norwegian-quoted companies in the period of 2001–2010 to explore whether the gender quota requiring 40 percent female directors on corporate boards changes the likelihood of women being appointed to top leadership roles as board chairs or corporate CEOs. The empirical results indicate that the gender quota and the resulting increased representation of female directors provide a fertile ground for women to take top leadership positions. The presence of female board chairs is positively associated with female directors’ independence status, age and qualification, whilst the presence of female CEOs is positively related to the average qualification of female directors. Firms with older and better educated female directors are more likely to appoint female board chairs. The likelihood of female CEOs’ appointment increases with the percentage of independent directors and directors’ qualifications, especially those for female directors. Furthermore, the gender gaps

with respect to qualification, board interlocks and nationality between female and male board chairs vanishes after Norwegian companies’ full compliance to the quota in January 2008. However, the gender quota has no significant impact on the gender gaps between female and male directors after its full compliance. The article thereby contributes to understanding how gender quotas, the presence of female directors, the percentage of female directors on boards and other board characteristics can determine the gender of top leaders of organizations.

Kelan, Elisabeth, et al. “The Gender Quota and Female Leadership: Effects of the Norwegian Gender Quota on Board Chairs and CEOs.” Journal of Business Ethics. 2010.

The Discursive Construction of Gender in Contemporary Management Literature

This article analyzes how the new type of worker is constructed in respect to gender in current management literature. It contributes to the increasing body of work in organizational theory and business ethics that interrogates management texts by analyzing textual representations of gender. A discourse analysis of six texts reveals three interconnected yet distinct ways in which gender is talked about. First, the awareness discourse attempts to be inclusive of gender yet reiterates stereotypes in its portrayal of women. Second, within the individualization discourse, formerly discriminatory elements of gender lose their importance but a gender dimension reappears within the idea of “Brand You.” Third, in the new



ideal discourse, women are constructed as ideal workers of the future. The article argues that there is little space within this web of discourses for an awareness of the continued inequalities experienced by women in relation to men to be voiced and that this rhetorical aporia contributes to a post-feminist climate.

Kelan, Elisabeth. “The Discursive Construction of Gender in Contemporary Management Literature.” Journal of Business Ethics. 2008.

Women, Culture and Competitiveness

The low representation of women in top roles features heavily in the launch of the annual Cranfield Female FTSE Report, monitoring the progress of women on boards and executive committees. Noting that workplaces were designed by and for men, Maria Miller, UK Minister for Women and Equality, asked for a culture change. To achieve a culture change and competitiveness, organizations and workplaces have got to become much more future-focused. A great step forward would be for government—and the-big business lobbies—to push future work (or “agile” or “smart” work, as some call it) as being hugely beneficial for business and for economic competitiveness, and not just as a way of accommodating the needs of individual employees. As has been shown, the shift to new ways of working is positive for business, people and sustainability.

Maitland, Alison. “Women, Culture and Competitiveness.” Future Work. Web. 19 Dec 2013 futureworkbook.com/node/80.

The Mask You Live In

Compared with girls, boys in the United States are more likely to be diagnosed with a behavior disorder, prescribed stimulant medications, fail out of school, binge drink, commit a violent crime, or take their own lives, research shows. At a young age, boys learn that to express compassion or empathy is to show weakness. They hear confusing messages that force them to repress their emotions, establish hierarchies, and constantly prove their masculinity. They often feel compelled to abide by a rigid code of conduct that affects their relationships, narrows their definition of success and, in some cases, leads to acts of violence resulting in what many researchers call a “boy crisis.” Society’s failure to recognize and care for the social and emotional well-being of boys contributes to a nation of young men who navigate adversity and conflict with an incomplete emotional skill set. Whether boys, and later men, choose to resist or conform to this masculine norm, there is loneliness, anxiety and pain.

Newsom, Jennifer Siebel. “The Mask You Live In.” Kickstarter Campaign. Web. 18 Dec 2013 kickstarter.com/projects/jensiebelnewsom/the-mask-you-live-in.

Women in Fund Management:The Report

In the report Women in Fund Management: A Road Map for Achieving Critical Mass—and Why it Matters, the National Council for Research on Women argues for greater diversity in fund management and calls on the financial-services industry to implement a critical-mass principle, with

Imposter fears are common in both genders and are most common in high achievers. The imposter fear that the “emperor has no clothes” differs from general insecurity.Shellenbarger, Sue. “New Exercises Fight Achievers’ Imposter Fears.” Wall Street Journal. Web. 19 Nov 2013.

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measurable action steps to bring more women into the field. Achieving critical mass will confer the vital benefits experienced in other sectors when significant numbers of women are included in decision making as well as the distinct advantages that women bring to financial management.

National Council for Research on Women (NCRW). “Women in Fund Management: The Report.” Web. 18 Dec 2013 ncrw.org/programs/271/women-in-fund-management.

Engaging Men in Gender Initiatives: What Change Agents Need to Know

The report’s findings support the view that before individuals will support efforts to right an inequality, they must first recognize that the inequality exists. Men who were more aware of gender bias were more likely to say that it was important to them to achieve gender equality. Other findings revealed three key factors that predicted men’s awareness of gender bias: defiance of certain masculine norms, the presence or absence of women mentors and a sense of fair play. Of those three factors, having a strong sense of fair play, defined as a firm commitment to the ideals of fairness, was what best differentiated men who actively championed gender equality from those who were not similarly engaged. Last, interview findings reveal three key barriers could undermine men’s support for initiatives to end gender bias: apathy, fear and ignorance about gender issues.

Prime, Jeanine, et al. “Engaging Men in Gender Initiatives: What Change Agents Need to Know.” Catalyst Knowledge Center. Web. 18 Dec 2013 catalyst.org/knowledge/engaging-men-gender-initiatives-what-change-agents-need-know.

Engaging Men in Gender Initiatives: Stacking the Deck for Success

Catalyst examines factors that can heighten or dampen men’s interest in acquiring skills to become effective change agents for gender equality at work. The study findings reveal four factors influencing men’s interest in diversity and inclusion training. The most important factor was men’s perception of how interested other managers would be in the course. Other important factors include men’s perceptions regarding the impact the training could have in improving the external communities where their businesses operate, the relevance of the training to their current job and their zero-sum belief regarding gender-diversity efforts.

Prime, Jeanine, et al. “Engaging Men in Gender Initiatives: Stacking the Deck for Success.” Catalyst Knowledge Center. Web. 18 Dec 2013 catalyst.org/knowledge/engaging-men-gender-initiatives-stacking-deck-success.

Calling All White Men: Can Training Help Create Inclusive Workplaces?

Catalyst surveyed a group of Rockwell Automation managers—mostly white men—and examined the effect that a company-sponsored leadership development program had on these employees’ work lives as well as on the work lives of their closest colleagues. In the course of just four months, Catalyst found evidence that the program, conducted by a group known as White Men as Full Diversity Partners, did have a transformative effect, shifting both the mindsets and behaviors of participants. Participants not only became significantly more accepting of the notion of



white male privilege but also showed improvement on five critical behaviors for building relationships across differences: critical thinking about social groups, taking more responsibility for being inclusive, inquiring across differences, listening empathically and addressing difficult issues related to difference.

Prime, Jeanine, et al. “Calling All White Men: Can Training Help Create Inclusive Workplaces?” Catalyst Knowledge Center. Web. 18 Dec 2013 catalyst.org/knowledge/calling-all-white-men-can-training-help-create-inclusive-workplaces.

New Exercises Fight Achievers’ Imposter Fears

Imposter fears are common in both genders and are most common in high achievers. The imposter fear that the “emperor has no clothes” differs from general insecurity. David Scott Yeager, assistant professor of psychology at University of Texas at Austin, and Gregory Walton, assistant professor of psychology at Stanford University, found that there are exercises to help students and others overcome these fears. They found the largest beneficial effects from the program are seen in disadvantaged groups, such as African-Americans in general, and women engineers in particular. According to the authors, “academic performance is about 70 percent knowledge and studying and 30 percent psychological.”

Shellenbarger, Sue. “New Exercises Fight Achievers’ Imposter Fears.” Wall Street Journal. Web. 19 Nov 2013 online.wsj.com/news/articles/SB10001424052702304439804579207951856455572.

The Study on White Men Leading Through Diversity & Inclusion

This is the first research study to analyze and improve the effectiveness of white men as they integrate diversity and inclusion into their leadership work. A decade ago, diversity began to evolve into diversity and inclusion. In response, the Study on White Men Leading Through Diversity & Inclusion provides the first analysis, focusing on white male leaders in order to diagnose and solve four organizational challenges: leadership development, engagement return on investment, strategy success and merit versus the diversity imperative.

Shelton, Chuck. “The Study on White Men Leading Through Diversity & Inclusion.” Greatheart Leader Labs. Jan 2013. Web. 18 Dec 2013 whitemensleadershipstudy.com/pdf/WMLS%20Executive%20Summary.pdf.

What’s in It for Me? The Self-Interest in Collaborative Leadership for Men

Collaborative leadership delivers results through high-performing relationships between men and women. If men justify their inattention to gender by assuming it is a women’s issue, they run the risk of self-marginalizing in a world where, as a Chinese proverb points out, women hold up half the sky. If any man doubts the ascendancy of women in the developed world, he would do well to read Hannah Rosin’s The End of Men and the Rise of Women. The book offers a sobering, data-infused view of men’s maladaptive masculinity. This research resulted in outlining 15 benefits for men.

Shelton, Chuck. “What’s in It for Me? The Self-Interest in Collaborative Leadership for Men.” Greatheart Leader Labs. 2013.

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Why So Few Women Directors in Top UK Boardrooms? Evidence and Theoretical Explanations

Using evidence from a survey of women directors in FTSE 100 companies, this paper considers possible explanations for the persistent homogeneity of UK boards. Only 61 percent of the top 100 companies had female directors in 2002, down from 64 percent in 1999. Women held only 3 percent of executive directorships, and there were just 15 women executive directors in total. Explanations usually include women’s lack of ambition, experience and commitment. These suppositions have been disproved by research, but underlying theories of social exclusion may provide insight into this persistent phenomenon.

Singh, Val, et al. “Why So Few Women Directors in Top UK Boardrooms? Evidence and Theoretical Explanations.” Blackwell Publishing Ltd. Web. 20 Dec 2013 dspace.lib.cranfield.ac.uk/bitstream/1826/963/1/Why_So_Few_Women_Directors_in_Top_UK_Boardrooms-2004.pdf.

The Imperative

Numerous studies have found a high correlation between economic growth and a wide variety of social indicators, yet there is growing awareness that economic measures alone do not fully capture social progress. The Social Progress Index is founded on the principle that what we measure guides the choices we make. By measuring the things that really matter to people—their basic needs (food, shelter, security); their access to health care, education, and a healthy environment; and their opportunity to improve their lives—

the Social Progress Index is an attempt to reshape the debate about development.

Social Progress Imperative. “The Imperative.” Web. 18 Dec 2013 socialprogressimperative.org/about/the-imperative/.

Miss Representation

The media is both the message and the messenger. There are a number of examples where the media has been an instrument of change and damage. As women of power are portrayed differently, young women and girls develop and lose their ambition to either be like any other women or fit into the media’s representation of women. The media can mislead and direct. It can change society’s perception and, in some cases, demean women.

Miss Representation. The Representation Project. 2013. Web. 18 Dec 2013 film.missrepresentation.org/#watchTra.

Counting Women and Balancing Gender: Increasing Women’s Participation in Governance

Despite the large amount of attention by politics and gender scholars to analyzing gender parity in political representation and the impact of the increasing participation of women in electoral politics, little attention has been paid to women’s participation in the governance of the economic sphere, either nationally or globally. Yet men overwhelmingly dominate economic decision-making positions, such as those on corporate boards or as business executives, government financial regulators, trade negotiators and central bankers around the world.

True, Jacqui. “Counting Women and Balancing Gender: Increasing Women’s Participation in Governance.” Politics & Gender 9, 351-359. 2013.

If men justify their inattention to gender by assuming it is a “women’s issue,” they run the risk of self-marginalizing in a world where, as a Chinese proverb points out, women hold up half the sky.Shelton, Chuck. “What’s in It for Me? The Self-Interest in Collaborative Leadership for Men.” Greatheart Leader Labs. 2013.



Gender Pay Gap Exposed: How Boston Firms Are Tackling It

In October 2013, the city of Boston announced a voluntary contract with 38 companies that have pledged to report pay-equity data to the city. Putnam and State Street are among the companies that signed on, agreeing to assess their internal pay practices and data in order to make improvements based on the findings. Women in Boston earned 85 percent of what their male peers made in 2011, according to the Boston Mayor’s Office. But nationwide, women earned just 76 percent of men’s pay in 2012, according to census data reported by the National Committee on Pay Equity. Women’s median earnings are lower than men’s in almost all occupations, the Institute for Women’s Policy Research has found. While it is difficult to get a clear picture of the pay gap in the financial-services industry, the institute reports female financial managers earned 70 percent of the pay their male colleagues made in 2012. State Street’s Alison Quirk is quoted in this article.

Volz, Beagan Wilcox. “Gender Pay Gap Exposed: How Boston Firms Are Tackling It.” Ignites. 18 Nov 2013.

Cascading Gender Biases, Compounding Effects: An Assessment of Talent Management Systems

This report reveals that core components of talent management are linked in ways that disadvantage women, creating a vicious cycle in which men continually dominate executive positions. Based on an assessment of 110 talent-management systems representing 19

industries, the data demonstrate that the flow of information from senior leaders to individual contributors perpetuates gender gaps in senior leadership. To combat this issue, organizational approaches for identifying, developing and leveraging top talent are provided.

Warren, Anika K. “Cascading Gender Biases, Compounding Effects: An Assessment of Talent Management Systems.” Catalyst Knowledge Center. Web. 18 Dec 2013 catalyst.org/knowledge/cascading-gender-biases-compounding-effects-assessment-talent-management-systems.

Global Gender Gap

The Global Gender Gap Report, introduced by the World Economic Forum in 2006, provides a framework for capturing the magnitude and scope of gender-based disparities around the world. The index benchmarks national gender gaps on economic, political and education- and health-based criteria and provides country rankings that allow for effective comparison across regions and income groups and over time. The rankings are designed to create greater awareness among a global audience of the challenges posed by gender gaps and the opportunities created by reducing them.

World Economic Forum. “Global Gender Gap.” World Economic Forum Issues. Web. 18 Dec 2013 weforum.org/issues/global-gender-gap.

What Data Analytics Says About Gender Inequality in the Workplace

In the United States, female workers are still paid only 77¢ for every dollar their male colleagues make. A mere 4.2 percent of chief executive officers at Fortune 500 companies are women. While tradition may point to more traditional theories about biology or child

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Former Massachusetts governor Deval Patrick funded a one-year$1 million fellowship to place women in full-salary managerial jobs with the hope of helping them gain access to the executive suites in private and government organizations.

rearing as reasons for why women are held back, there are also different styles in how men and women work. One company studied conversations and speech patterns, as well as physical movement at several employers to track productivity. The research revealed “At the call center, the one company where we have quantifiable productivity metrics, women were more productive than men, completing calls on average 24 seconds more quickly. Twenty-four seconds might not seem like much, but that adds up to a 9 percent difference in productivity. No differences in workplace performance or collaborative styles were observed at the company to support the idea that men and women perform or interact differently. Nonetheless, women were disadvantaged when it came to winning promotions and reaching the upper echelons of management.”

Waber, Ben. “What Data Analytics Says About Gender Inequality in the Workplace.” Bloomberg Business Week. Web. 30 Jan 2014 businessweek.com/articles/2014-01-30/gender-inequality-in-the-workplace-what-data-analytics-says.

Sex Differences in the Structural Connectome of the Human Brain

Sex differences in human behavior show adaptive complementarity: Men have better motor and spatial abilities, whereas women have superior memories and social cognition skills. Studies also show sex differences in

human brains but do not explain this complementarity. In this study, the authors modeled the structural connectome using diffusion sensor imaging in 949 participants (428 men and 521 women between 8 and 22 years old) and discovered unique sex differences in brain connectivity during the course of development. Connection-wise statistical analysis, as well as analysis of regional and global network measures, presented a comprehensive description of network characteristics. In all supratentorial regions, men had greater within-hemispheric connectivity, as well as enhanced modularity and transitivity, whereas between-hemispheric connectivity and cross-module participation predominated in women. However, this effect was reversed in the cerebellar connections. Analysis of these changes developmentally demonstrated differences in trajectory between men and women mainly in adolescence and adulthood. Overall, results show that male brains are structured to facilitate connectivity between perception and coordinated action, whereas female brains are designed to facilitate communication between analytical and intuitive-processing modes.

Ingalhalikar, Madhura, et al. “Sex Differences in the Structural Connectome of the Human Brain.” PNAS. 2014 pnas.org/content/111/2/823.abstract.html?etoc.

Aliworth E. Fernandes, D. “Mass. Fellowships Aim to Elevate Women in Business.” The Boston Globe. 12 March 2014.



10 Ways to Improve Your Company’s Diversity Results

Sallie Krawcheck is the business leader of the professional woman’s network 85 Broads. In this article, she talks about ways of challenging the status quo of diversity in the corporate environment. Krawcheck lists 10 ways to realize results from diversity programs but also acknowledges that more needs to be done. Diversity of gender and ethnicity, she says, improve a company’s output. Some of the ways she suggests diversity results could be realized include starting a sponsorship program, banning ‘slate sitters,’ giving responsibility for progress on diversity to a “hipo” (high-potential executive), educating managers on the business differences between men and women in the workplace and combing through performance review systems to root out ‘cascading bias.’ In addition, she cautions that if there were only one answer to the diversity challenge, it would have presented itself already. Instead, diversity takes an organization-wide commitment, starting with the very top, to engage professionals through the course of their careers and recognize the real competitive advantage this can drive.

Krawcheck, Sallie. “10 Ways to Improve Your Company’s Diversity Results.” http://www.thinkadvisor.com/2014/01/10/sallie-krawcheck-how-to-increase-your-firms-divers

Sex and Brains: Vive la Différence!

A new technique has drawn wiring diagrams of the brains of both sexes, and the contrast is illuminating. Men have better motor and spatial abilities than

women and more monomaniacal patterns of thought. Women have better memories, are more socially adept and are better at dealing with several things at once. Although these qualities may be obvious through several years of observation, the finding by scientists at the University of Pennsylvania that women’s and men’s brains are wired differently could explain the stack of cognitive differences between men and women.

“Sex and Brains: Vive la Différence!” The Economist. 2013.

Overturning the Myth of ValleyGirl Speak

Researchers at the University of California, San Diego, who wanted to learn more about when and how local speakers use uptalk (a way of speaking that puts an upward inflection on the last word of a statement that makes it sound like a question when it’s not), have done a close acoustical analysis of 23 Southern Californians from diverse backgrounds, ages 18 to 22, including 11 men. Trading the derogatory label Valley Girl Speak for the relatively neutral term SoCal English, they found that both men and women often use uptalk, although with some gender-based differences. “Men don’t think they do it, but they do,” said Amanda Ritchart, a graduate student and coauthor of the project, which was presented earlier this month. Amalia Arvaniti, a coauthor of the study who is now head of the English language and linguistics department at the University of Kent in England, said, “It could indicate that young women were generally interrupted more than men and so it’s a

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Men have better motor and spatial abilities than women and more monomaniacal patterns of thought. Women have better memories, are more socially adept and are better at dealing with several things at once.”“Sex and Brains: Vive la Différence!” The Economist. 2013.

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defense mechanism when they uptalk.” The article alludes that, “the more successful a man is, the less likely he is to use uptalk; the more successful a woman is, the more likely she is to use uptalk.”

Hoffman, Jan. “Overturning the Myth of Valley Girl Speak.” The New York Times. Web. 23 Dec 2013.blogs.nytimes.com/2013/12/23/overturning-the-myth-of-valley-girl-speak/?pagewanted=print.

Want Better Hedge Fund Returns? Try One Led by a Woman

In the world of hedge funds, a relative few have a woman at the helm. And yet, these funds may be the standouts from the bunch, a new report argues. In the years since the financial crisis, hedge funds managed by women have performed better than a broader index that reflects the performance of the industry, according to a report titled Women in Alternative Investments: A Marathon, Not a Sprint by the professional services firm Rothstein Kass. From the beginning of 2007 through June 2013, a Rothstein Kass index of women-run hedge funds returned 6 percent, the report says. By comparison, the HFRX Global Hedge Fund Index, released by Hedge Fund Research, fell 1.1 percent during that time, according to the report.

Alden, William. “Want Better Hedge Fund Returns? Try One Led by a Woman.” DealBook. Web. 15 Jan 2014 dealbook.nytimes.com/2014/01/15/want-better-hedge-fund-returns-try-one-led-by-a-woman/.

Women Don’t Need to LeadBetter Than Men. They Needto Lead Differently

When Debra Spar left Harvard Business School, after working in the largely male-dominated environment for 18 years, and

joined the nearly all-female team at an all-women’s college, she noticed the quiet assumption that everyone would, or at least should, agree. The drive to achieve consensus and prevent conflict isn’t necessarily better or worse; it is just different. Across the public and private sectors, women are underrepresented at the highest levels of power. Women account for only 15.2 percent of the board members of Fortune 500 corporations. For numerous reasons, C-suite-level women’s careers stall when women are faced with the difficult decisions about their personal and professional aspirations, decisions that are not the same for their male colleagues. Impressive yet rare, there are the handful of women who have broken through to the top tiers of power: Sheryl Sanberg of Facebook, Marissa Mayer of Yahoo, Indra Nooyi of PepsiCo and Ann Fudge of Kraft. Why is this so rare and such a celebration? A study conducted by John Coates and Joe Herbert of Cambridge University suggests that women don’t have the testosterone for it. The researchers determined that on the trading floor, higher profits correlate with higher levels of male hormones. Another study, examined in laboratory experiments conducted by Muriel Niederle and Lisa Verterlund at the University of Pittsburgh, found that women are far less likely than men to bet their pay on performance, even when they have evidence that they are superior performers.

Sapr, Debora. HBR Blog Network. “Women Don’t Need to Lead Better Than Men. They Need to Lead Differently.” blogs.hbr.org/2013/08/women-dont-need-to-lead-better/. 2013.

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Feminine Values Can Give Tomorrow’s Leaders an Edge

A study conducted by the Pew Center in May 2013 reveals that working mothers are the sole or primary providers in 40 percent of U.S. households. A few days prior to this announcement, Paul Tudor-Jones, a hedge-fund billionaire, made the following comment at a conference: “Women will never rival men as traders because babies are a focus killer.” Author John Gerzema and his colleague Michael D’Antonio surveyed 64,000 people in 13 countries from the Americas, Europe and Asia. Their results point to widespread dissatisfaction with the typical way of doing business and a growing appreciation for the traits, skills and competencies that are perceived as more feminine traits.

Two-thirds of those surveyed felt that “the world would be a better place if men thought more like women.” The researchers were curious with these results and asked half of the participants to classify 125 characteristics as either masculine, feminine or either while the other half rated the same characteristics in relation to their importance to leadership, success, morality and happiness, not gender. Statistical modeling revealed a strong consensus between what was identified as feminine and what was considered essential to leading in an increasingly social, interdependent and transparent world.

Leadership traits viewed as “feminine” traits:

• Expressive

• Plans for future

• Reasonable

• Loyal

• Flexible

• Patient

• Intuitive

• Collaborative

Viewed as “masculine” traits:

• Decisive

• Resilient

Gerzema, John. HBR Blog Network. “Feminine Values Can Give Tomorrow’s Leaders an Edge.” blogs.hbr.org/2013/08/research-male-leaders-should-think-more-like-women/. 2013.

Massachusetts Fellowships Aim to Elevate Women in Business

Former Massachusetts governor Deval Patrick funded a one-year $1 million fellowship to place women in full-salary managerial jobs, with the hope of helping them gain access to the executive suites in private and government organizations. Patrick’s administration worked with Bentley University and its Center for Women in Business. The goal of the program was to create a program that offered mentoring and leadership for young women so they would then follow other successful women executives into the boardroom. According to a study conducted by the nonprofit The Boston Club, which supports the advancement of women, Massachusetts is ranked 10th among 18 states that have been



shown to be not as progressive in the advancement of women to executive roles. Susan Adams, a management professor at Bentley University, said, “Female leaders too often get stuck in middle-management jobs because they lack the support of bosses and companies to move up.” She added, “The fellowship program could provide the experience and credentials that may help [women] eventually break into executive positions.”

Aliworth E. Fernandes, D. “Massachusetts. Fellowships Aim to Elevate Women in Business.” The Boston Globe. bostonglobe.com/business/2014/03/11/governor-unveils-initiative-help-more-women-advance-executive-suites/E7MZdLs3kqLK9H6hMHNk/story/html. 12 March 2014.

Gender & Work: Challenging Conventional Wisdom, Prescriptions and Punishments for Working Moms

This paper looks at the societal differences and stereotypes of working men and women. The research examines the “motherhood penalty,” where mothers in the workplace are judged as less competent and committed than other employed applicants, and therefore working mothers are less likely to be hired and promoted. The author also looks at the difference between working white mothers and working black mothers. Are black working mothers perceived as the same as white working mothers? Are black and white non-working mothers viewed the same? The study shows that white mothers are viewed as less competent and capable when they work than black mothers, but black mothers who do not work experience more

discrimination and prejudice than those who do. Several studies suggest that the long-held traditional American belief that women should be the primary caretaker and men the primary breadwinner persists, and women are viewed as more motherly than professional and more nurturing than task oriented. To prove or disprove these stereotypes of mothers versus other employees, Cuddy conducted an experiment in which participants told researchers their impressions of several professionals:

1. Female professional with child

2. Female professional without child

3. Male professional with child

4. Male professional without child

Participants were asked to rate the women on three traits reflecting warmth and competence and three discrimination items in relation to the question of whether they would hire, train or promote them. The traits were aimed at capturing the degree to which participants would value or discriminate the female professionals.

Results show that women lose perceived competence and gain perceived warmth when they are identified as mothers. The complete opposite is true for working men who are identified as fathers: They maintain perceived competence and gain perceived warmth. Participants expressed more interest in hiring, promoting and educating applicants who they viewed as competent, and participants did not believe working mothers met those criteria. The perceived perception is that when working

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women become mothers, they unwillingly trade perceived competence and job commitment for perceived warmth. This unjustly costs women credibility and hinders their odds of being hired, promoted and supported in the workplace.

Cuddy, C.J. Amy, Wolf Baily, Elizabeth, Harvard Business School, “Prescriptions and Punishments for Working Moms,” 2013, hbs.edu/faculty/conferences/2013-w50-research-symposium/Documents/cuddy.pdf.

Brave Men Take Paternity Leave

Many companies don’t even offer paid paternity leave, and there’s a considerable stigma attached to taking it. Two separate studies show that fathers with family-related work absences are recommended less and receive lower performance ratings. For every month of leave that mothers take, fathers take one day. When paid paternity leave is made available by law, fathers take it, as in Norway (a study in The American Economic Review shows that 70 percent of fathers took paternity leave in 2006, up from 3 percent in 1993). The influence of peers is instrumental in the decision to take paternity leave, with the study in Norway showing a snowball effect of use of leave by coworkers after the first father paved the way, especially if the first was a manager. Norway’s law also improved gender equality by redefining gender roles. A law is only the first step in encouraging fathers to take time away from work; fathers have to set a precedent for others to use it as well.

Gavett, Gretchen. “Brave Men Take Paternity Leave,” blogs.hbr.org. 07 July 2014.

Women on the Rise

Women in the commercial real-estate industry are progressing toward the executive-suite level but still have a way to go. Of the National Association of Real Estate Investment Trusts’ 222 members, only six (2.7 percent) have female CEOs, with similarly low numbers for other C-suite execs. In corporate America as a whole, 4.2 percent of chief executives in the Fortune 500 are women, only 14 percent of those are CEOs, despite women making up 51 percent of management. However, women have made big gains in representation in commercial real estate, comprising 43 percent of the workforce in 2010, up from 35 percent in 2005. Still, companies need to retain women in the middle ranks, where they are losing bright women for other positions or pursuits (like having children). Better retention boils down to job satisfaction and happiness.

Keenan, Charles. “Women on the Rise.” Reit.com. 17 May 2013.

Women Rising: The Unseen Barriers

CEOs who make gender diversity a priority are frustrated by the failure of their efforts to build a pipeline of upwardly mobile women. The problem is that these approaches don’t address the process of coming to see oneself, and be seen by others, as a leader—something that requires a fundamental identity shift. Gender bias disrupts the learning cycle at the heart of being a leader. People must recognize and encourage a woman’s efforts, even when she doesn’t look or act like a current senior executive. Such



solutions as mentoring and leadership education programs are necessary but not sufficient.

People must internalize a leadership identity and develop a sense of purpose to become leaders. They need affirmation to get the fortitude to step outside a comfort zone and exercise leadership; an absence of affirmation destroys self-confidence. When a person asserts leadership, others should affirm the action, encouraging subsequent assertions. Effective leaders develop a sense of purpose by pursuing goals that align with their values and a collective good, allowing them to look beyond the status quo and giving them a compelling reason to take action.

Ibarra, Herminia, Ely, Robin, Kolb, Deborah. “Women Rising: The Unseen Barriers.” 2013 September, Harvard Business Review.

Great Leaders Who Makethe Mix Work

The CEOs from 24 companies with reputations for diversity, across a range of industries and regions, were interviewed. They approached inclusivity as a personal mission, not one to hand off to others. They saw it as an important business imperative to staying competitive and as a moral imperative to staying true to their values. Diversity is an advantage in getting people to challenge one another more and creating dissent, as well as keeping an organization from being too insular and out of touch with its customers. Many of the CEOs asserted the importance of a company’s employees reflecting its clients. A CEO’s commitment to

diversity often arose from the understanding of what it means to be an outsider, either personally or through someone close to her. Even white male CEOs reported feeling like an outsider at times, giving them the self-awareness and empathy to shape their views on diversity and inclusion.

Groysberg, Boris, Connolly, Katherine. “Great Leaders who Make the Mix Work.” 2013 September, Harvard Business Review.

How Women Decide

In response to a survey, 70 percent of senior managers said that selling to women was different than selling to men. There is a clear need to reexamine assumptions about how to explore opportunities and close deals, as the majority of managers have honed their skills selling to men only. Men’s brains have 6.5 times more gray matter than women’s, and women’s brains have 10 times more white matter than men’s. Gray matter processes information, and white matter facilitates connections, which might explain why men excel at sheer processing while women are better at integrating disparate information. This has an impact on how decisions are made. Women behave differently as shoppers, comprehensively acquiring in-store information (as opposed to men who limit their search and are more task oriented). Women are discovery oriented.

Benko, Cathy, Pelster, Bill. “How Women Decide.” 2013 September. Harvard Business Review.

Results show that women lose perceived competence and gain perceived warmth when they are identified as mothers.Cuddy, C.J. Amy, Wolf Baily, Elizabeth. “Prescriptions and Punishments for Working Moms.” Harvard Business School. 2013.

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Women in the Workplace:A Research Roundup

Men get more critical assignments for advancement than women do. A Catalyst study of 1,660 business-school graduates shows that on average, men’s projects have budgets twice as big with three times the staff as women’s projects. More than a third of men get attention from the C suite, whereas only a quarter of women can say the same. High-potential women are not leaving their careers to care for their families on purpose—90 percent leave because of workplace problems, like frustration and long hours. Two-thirds of those who left tried part-time schedules, but they ended up marginalized and working too much for less pay. Some 60 percent of women worked well past the birth of their second child, failing to explain why women leave. Additionally, data from McKinsey shows that women fall off dramatically in the higher ranks of organizations, becoming more and more underrepresented at higher levels.

Silva, Christine, Carter, M. Nancy, Beninger, Anna. “Good Intentions, Imperfect Execution? Women Get Fewer of the ‘Hot Jobs’ Needed to Advance.” Catalyst. 2012.

Stone, Pamela. “Gender & Work: Challenging Conventional Wisdom.” Harvard Business School. 2013.

Barsh, Joanna, Yee, Lareina. McKinsey & Company. 2012.

The Missing Women ofAsset Management

Why are 90 percent of senior money managers men? “Jane” thinks hedge-fund investing is an ego game. It takes a certain self-confidence to ask for millions of dollars of someone else’s money. It

appears that men have a healthier degree of self-delusion and ego—and investing takes a willingness to make mistakes and move on. High-performing women, on the other hand, believe that to get where they are in their careers, they have had to follow the rules and avoid risk—they are not willing to make mistakes. Jane points out that if women always strive for perfection, (she strived for perfect SAT scores and almost got them), why do you think women would want to pick the wrong stock for a customer and lose them money? Jane also talks about the belief that women in hedge funds are “pretty girls” in the corner who just take notes and that women lose an estimated 7 hours per week “prettying up” instead of building up clients. Female underrepresentation in the finance industry is at least double that in other key fields: 1 in 3 women are physicians, 1 in 4 work in science and technology and 1 in 5 are law-firm partners. Why are only 1 in 10 women in senior investment roles?

Chief Investment Officer. “The Missing Women of Asset Management.” 20 June 2014.

Manage Your Work, Manage Your Life

Effectively managing the work-life balance is not easy. Those who have done it best make deliberate choices about the opportunities they will pursue and the ones they will not. Rather than just “putting out fires,” these senior executives manage work, family and community in a conscious way. Senior executives have learned this balance through experience and by involving loved ones in their work and activity decision-making process. In life,



nothing is 100 percent predictable, and life can take over: parents may become ill, extra attention may be needed for a child with emotional or physical issues. Taking these life factors into consideration, interviews with 4,000 executives worldwide, conducted by HBS, and a survey of 82 male and female executives, focus on weathering challenging times by staying connected to family. The findings suggest each individual needs to define success for them and their family. Survey responses on achieving this range from being home a certain number of nights a week to having different ways of staying connected to family members while at work. Women place more value on individual achievement and ongoing learning and development, scoring a lower percentage on financial achievement as an aspect of personal and professional success. When the areas of work and family responsibilities merge, men tend to identify being the provider as their key role, even if family time has to suffer.

Groysberg, Boris, Abrahams, Robin. Harvard Business Review. March 2014.

The Confidence Code

Authors Kathy Kay and Clarie Shipman deconstruct what confidence is and why some women have it and others do not. Is it genetic, or can it be a learned chosen behavior? Their research explores the edges of neuroscience in the search for the confidence gene. They work with some of the leading psychologists in the world, concluding that we can all become more confident simply by taking action and taking

risks because by doing this, we actual start to rewire our brains.

Kay, Kathy, Shipman, Clarie. “The Confidence Code.” 2014.

Seven Steps to Leading a Gender- Balanced Business

This book examines why companies do not view women as a driving economic engine in the 21st century. Wittenberg-Cox has helped numerous corporations bring the imbalance of gender within their own businesses to the forefront, and she views the well-intended mentoring and networking programs for women as ineffective. Achieving true success for women within corporations, she posits, requires a true understanding of the untapped economic benefits and level of talent and dedication women have.

Wittenberg-Cox, Avivah, “Seven Steps to Leading a Gender-Balanced Business.” Harvard Business Press, 91 pages, 04 March 2014.

When Women ThriveBusinesses Thrive

Mercer wanted to better understand how organizations all over the world (164 companies in 28 countries) can do better with the promotion and full participation of women in the workforce. Mercer engaged 1.7 million employees, 680,000 of them women, and found that women continue to fall behind in participation and representation at the executive level. Currently, hiring, promotion and retention rates for women are insufficient to create gender equality within the next 10 years. Women must be represented at all levels of organizations, and there cannot be

“

Gavett, Gretchen. “Brave Men Take Paternity Leave.” blogs.hbr.org. 07 July 2014.

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Two separate studies have shown that fathers with family- related work absences are recommended less and receive lower performance ratings.”


perceived or actual barriers that prevent women’s ability to move to the highest levels. Women need to be paid and rewarded fairly, and their competencies and leadership embraced. Companies are slowly recognizing that the workforce is aging and shrinking and that there is an abundance of highly educated and skilled women in the talent pool that can no longer be overlooked. The article lists many key drivers of gender diversity, including the ability to attract, develop and retain women. Company leaders need to become actively engaged in gender-diversity programs, managing pay equity and ensuring the same representation of women in P&L. Pay equity appears to be a major driver of gender diversity, due to the fact that it not only improves the overall value of women but can put women on a level playing field with men. The programs that have been added for women (family leave, health-care coverage, assistance

with child care, lactation rooms) have lulled some companies into complacency, but they are no longer enough. Women have different and unique financial needs. On average, women work in lower-paid employment jobs with more gaps between jobs, and in the United States, women spend more than 12 years out of the workforce to care for children. Women are less confident and more risk-averse investors compared with men, and this can directly impact the amount of money they are able to accumulate for retirement. Research shows that not only is gender diversity an issue, but organizations are not putting the necessary resources and talents to identify how to promote and develop talented women. Organizations need to take a hard look at their gender diversity, conduct their own data-driven analysis, and be proactive in attacking and implementing programs to move the needle.

Milligan, A Patricia, Levin, Brain, PhD, Chen, Linda, Edkins, Katie. “Gender Diversity—When Women Thrive Businesses Thrive.” Mercer.com. 2014.

Since 2003, femaleboard members rose

from 13% to 20%the amount of all-

male boards fell from29% to 14%.


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Mind the Gender Gap: Understanding Women as Consumers of Investment Services

The number of women in positions of power in the financial-services industry is poor; however, this fact takes away from the extraordinary economic progress that women have made during the last century. In the United Kingdom, there are just as many female millionaires as there are male millionaires, and it is estimated that in 2020, 53 percent of the millionaires in the UK will be women. The rise of women as asset holders and potential clients for the financial-services industry is causing professionals to adapt to the way women approach investments. Organizations that are able to understand the female investor and create products that are directed toward her will be able to capitalize on this shift of wealth from men to women.

Haisley, E. “Mind the Gender Gap: Understanding Women as Consumers of Investment Services.” Women in Financial Services, Oliver Wyman, 2014.

Picking the Right Battle:Lessons from the Gender Debatein Motor Insurance

In 2011, the European Union restricted the use of gender as a predictor in insurance-rating models. The motor-insurance industry was particularly affected by this ruling because they used gender as a key predictor to assess the drivers they insured. However, as new studies into the driving behaviors of individuals have been published, the gender predictor has been proven to be at the bottom of the predictor list. Predictors are proven to be unreliable across large populations due to the large

contrast of individuals, making these predictors unreliable. New technology, such as telematics, allows the motor-insurance industry to collect real-time data from vehicles that eliminates the guessing game and gives them facts that cannot be disputed.

This is relevant in the financial-services industry, which has been focusing on the predictor that organizations that are not gender diverse will fail. Instead of focusing on hiring more women or establishing a more diverse workforce overall, there should be an emphasis on retaining the most talented pool of employees. Since there is no quick fix, as there was for the motor-insurance industry, the financial-services industry should focus on diversity not for diversity’s sake but for the sake of failing to have the best available talent for their workforce, regardless of gender.

White, A., Kantaria, R. “Picking the Right Battler: Lessons from the Gender Debate in Motor Insurance.” Women in Financial Services. Oliver Wyman. 2014.

Spotlight on Russia

In comparison with the rest of the world, the number of women in executive positions in the Russian financial-services industry is above average. At first glance, this may seem like a curious fact, since Russia is a middle-income economy and relatively new to democracy. The authors credit the former USSR’s regimes that promoted women’s involvement in the workforce and the fact that 56 percent of Russian undergraduates of higher education are women. Also, the USSR’s elimination of the commercial banking system allowed women to get involved without the barrier



of masculine tradition. The financial industry is also viewed as an equal and welcoming industry within which women can succeed. The only barrier keeping the numbers at executive levels below 50 percent is the choice of individual women to focus on family. Russian businesses’ can promote career advancement by providing services to women that allow them to give their families the time that is needed while maintaining and growing their careers.

Gudgeon, P., Bogdashkin, M., Fomichenko, N., Chebotar, N. “Spotlight on Russia.” Women in Financial Services. Oliver Wyman. 2014.

Spotlight on Canada: A Web of Support for Gender Diversity

Canada ranks among the top of the list of countries in which women hold executive positions within the financial industry. Female representation on the boards is 25 percent, while representation in executive committees is 23 percent. The high number of women in these positions can be attributed to the cultural, governmental and industry- and institution-specific factors that allow women to succeed. Long-established social policies that promote equal opportunity and open immigration, along with industry associations, awards ceremonies and firm initiatives, are just a few of the factors that contribute to diversity success in Canada. Even though there has been success, Canada can further improve by providing more family support to women having children.

McIntyre, A., Quest, L. “Spotlight on Canada: A Web of Support for Gender Diversity.” Women in Financial Services. Oliver Wyman. 2014.

Women on the Board: Token or Totem?

Women have increased their presence on the executive boards of financial-services firms in the United States. Since 2003, female board members rose from 13 percent to 20 percent and the amount of all-male boards fell from 29 percent to 14 percent. The goal of diversifying the boards of financial firms is to eliminate the “groupthink” mentality that has led to mistakes in the past and to provide firms with more than one point of view on each decision. In order to continue this trend, the author recommends broadening the idea of diversity, equipping chairs and boards to manage diverse groups, pushing diversity in management roles, and measuring and exerting pressure.

Daisley, M. “Women on the Board: Token or Totem?” Women in Financial Services. Oliver Wyman. 2014.

Spotlight on Sweden: Going from Good to Great

Sweden has become the poster child for integrating women into executive positions and boards of financial-services firms in the past decade. The number of women on supervisory boards and executive-management teams is up 32 percent and 53 percent respectively in this time period. The egalitarian culture of Sweden has promoted gender equality, and the government has taken steps to promote this equality consistently. The government in Sweden has issued laws surrounding child care and maternity leave, incentivizing a dual-worker family. Even though Sweden has made great strides, there is still work to be done. Women comprise 53 percent of

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junior staff in financial-services firms, but these numbers have not translated to the senior levels. One way to push the envelope to the senior level is by working on the social stigma against paying for help inside the home.

Nordling, E-L., Samuelsson, K.. “Spotlight on Sweden: Going from Good to Great.” Women in Financial Services. Oliver Wyman. 2014.

Risk Culture: No Silver Bullet: More Women on the Trading Floor Is Not the Answer for Improving Risk Culture

The popular stance on the cause of the recent financial crisis is that too many senior bankers and traders are men. The media has made this statement as a trending issue across the globe in an attempt to change the risk culture in financial firms. The call for more women on trading floors and in senior banking jobs is not the answer to minimizing risk. If a firm employs more women but does not change the way business is done, the culture will not change. Even though hiring more women can help other factors (such as recruitment), training, incentive schemes, and a regulatory environment also contribute to the risk culture of a firm. To drive change at banks, senior executives should set the tone, have clear expectations, have staff “live the values,” align incentives, and recognize the limits of culture. An organization’s culture does not change overnight, and the continuous process of pursuing change must remain constant.

Naylor, L. “Risk Culture: No Silver Bullet: More Women on the Trading Floor Is Not the Answer for Improving Risk Culture.” Women in Financial Services. Oliver Wyman. 2014.

Catching Up from the Back of the Pack: Oliver Wyman’s Experience

In 2010, Oliver Wyman started as a small entrepreneurial firm in which all employees have an equal opportunity to succeed. However, as the firm grew, it realized that treating everybody equally did not level the playing field. In fact, by limiting employee difference, it was giving an unfair advantage to specific groups, men in particular. To find a balance, the firm launched a retention study and cultural audit to understand the situation at the company and discover the steps needed to fix it. During the past four years, the firm has been able to imbed inclusion and diversity into the business strategy. To achieve this goal, they embedded teamwork, leadership, and talent management into day-to-day operations that reinforce inclusion and diversity. It created training programs that were specific to men and women in order to reach each group effectively. Finally, it took steps to take this program into the future by addressing the work-life program, creating support for individuals and being completely transparent. Oliver Wyman is not perfect in diversity; however, it is taking steps to ensure that it has a diverse workforce that gives its clients quality service.

Horowitz, A. “Catching Up from the Back of the Pack: Oliver Wyman’s Experience.” Women in Financial Services. Oliver Wyman. 2014.



Women in Financial Services—from Evolution to Revolution: The Time Is Now

This article, which is all about the importance of attracting and retaining the best and brightest talent, takes a more narrowed look at retaining women in the workforce over the next 10 years. What does gender diversity look like today in the financial-services industry? Women have had the most success in reaching the executive committees in support and compliance functions. These roles have more predictable work hours than P&L functions. Only 4 percent of the CEOs of financial firms are women, and only a few women are leading profit-generating lines of business. Even though the financial industry has 13 percent of its roles filled by women, this can be a misleading statistic due to the fact that there are more women in junior roles. Research shows that the likelihood of women progressing from middle- to senior-level roles relative to their male coworkers is worse in the financial industry than in any other sector. Why is this? Even though the industry is not viewed as particularly hostile—only 8 percent of women in the industry view it this way—the industry has an image problem with employees, especially with women. This has been perpetuated by Hollywood with movies, like Wall Street and The Wolf of Wall Street, and by the media’s coverage of industry scandals. When female students are asked about their perception of the industry and its culture, their answers are more negative than those of male students. They are quoted saying that the culture is “aggressive,” “arrogant” and “political.” Herein lies the problem of attracting highly educated women. This is due to a

long-term unconscious bias about the industry and what it takes to make it to the top. In the 1980s and 1990s, very few women got to the top, and if they did, they had to take on male characteristics to fit into the male-dominated culture. Luckily, things are changing, and firms now understand that they are missing out on a highly educated and deep talent pool.

Daisley, M. “Women in Financial Services—from Evolution to Revolution: The Time Is Now.” Women in Financial Services. Oliver Wyman. 2014.

The Management Power Line

Women have made monumental strides in attaining chairs on boards of large financial firms, and they are having an impact on the way business is done. Even though boards are important, women are not penetrating the C-suite executive positions effectively. Male CEOs outweigh female CEOs in both the United States and the UK by 20 to 1, with 10 to 1 ratios respectively. The authors examine why this is occurring and how women in C-suite positions compare with men in the same position by running data simulations on the Credit Suisse Gender 3000 (CSG 3000). The CSG 3000 shows that female workers are heavily concentrated in the shared services spaces, more specifically in HR and communication roles. These roles have less influence on business decisions and are not a direct line to C-level positions. For example, 94 percent of the current CEOs come from an operational background. The lack of women in top positions is also hurting investors, according to the data. Greater gender diversity has been documented as leading to higher returns

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on equity and their price-to-book value stands at a premium over time. Women who penetrate the upper sectors of companies allow businesses to be more effective, and investors will see higher returns.

Dawson, J., Kersley, R., Natella, S. “The Management Power Line.” Research Institute: Thought Leadership from Credit Suisse Research and the World’s Foremost Experts. 2014.

What Are the Obstacles to Women in Advancing Their Careers?

The obstacles that women face when trying to advance their careers have been well documented in different studies. These obstacles can be categorized into the following groups: educational choices, cultural bias, work-life balance, and the structural policy in firms and different countries. The questions that remain are what can be done to address these obstacles and in what time frame can we expect change to occur. A change in policy from the corporate or governmental level is the best way to address these obstacles in order to drive change quickly. In Scandinavia, there have been governmental policies implemented to help promote gender equality within the business sectors of each country. Norway has established a policy that requires businesses to have women make up 40 percent of their executive boards. Sweden has addressed the work-life balance and cultural bias that women have to take care of children and the home by creating incentives that encourage both parents to split time between their careers and home life while

maintaining a steady income. Governmental policy can drive change and set quotas for businesses to follow, however, change cannot be achieved unless the policy at the corporate level is also addressed. Studies show that a more diverse workplace has a positive correlation with returns. CEOs should be incentivized to promote diversity and penalized if they are not, since diversity is in the best interest of the company as well as its stockholders. This study analyzes these obstacles and the best strategy to use when trying to remove them.

Dawson, J., Kersley, R., Natella, S. “What Are the Obstacles to Women in Advancing Their Careers?” Research Institute: Thought Leadership from Credit Suisse Research and the World’s Foremost Experts. 2014.

Work Redesign for Better Work and Better Life: A Framework for Organizational Change

One of the points of emphasis in many corporations is how to deliver flexible working environments that allow employees to balance their work and personal lives, especially those employees with children. Most households need to have two sources of income to meet their needs, but demand of being in an office from 9 to 5 and sometimes longer is taking its toll on employees. This demand in the office, as well as the demand of employees’ personal lives, has led to high stress levels, resulting in burnout, higher turnover, sleep deprivation, cardiovascular risks, poorer health, and a disconnect from family lives.

When female students are asked about their perception of the financial industry and its culture, their answers are more negative than those of male students. They were quoted saying that the culture is “aggressive,” “arrogant” and “political.”Daisley, M. “Women in Financial Services—from Evolution to Revolution: The Time Is Now.” Women in Financial Services. 2014.



All of these factors combine to create slack in the workforce and prevent a corporation from operating at a high level of efficiency. Giving employees the flexibility to work when and where they can through work redesign programs can empower employees to work smarter and more efficiently, not harder and sloppily. Flexibility can also allow single parents and women to maintain and advance their careers in companies that they would otherwise have left due to the high demands at home.

Kelly, E. “Work Redesign for Better Work and Better Life: A Framework for Organizational Change.” University of Minnesota: Work Family and Health Network. 2012.

The CS Gender 3000: Women in Senior Management

The Credit Suisse Gender 3000 mapped 28,000 senior managers at more than 3,000 companies that are actively covered by Credit Suisse analysts worldwide. This study has moved from the narrow focus of women reaching the boardroom to focusing on how women can break the barriers in the day-to-day operational environments of corporations. By mapping the career path of women, CS Gender 3000 is able to see why there is still a huge imbalance of women in senior management roles. One of the points of emphasis is that women are clustered in areas of less influence that offer less opportunity to move up to the senior ranks.

Dawson, J., Kersley, R., Natella, S. “The CS Gender 3000: Women in Senior Management.” Research Institute: Thought Leadership from Credit Suisse Research and the World’s Foremost Experts. 2014.

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