December 7, 2011
The Women's Mafia
Gone are the days when there was only one seat at the table for women in the boardroom or the C-suite.
Globally, more women are promoting one another at work – and companies are reaping the benefits.
A study from Corporate Women Directors International shows “companies led by women have more female directors in boardroom and in executive officer positions.”
Plus, companies with female CEOs have more than 22 percent women on boards compared to the less than 10 percent average.
“We need to grow women CEOs, because they tend to be the direct path to more women’s participation at higher levels, which leads to great results,” says Irene Natividad, president of the Global Summit of Women.
She says chairing diversity councils, offering incentives and setting specific diversity targets allows more women to advance.
Think promoting other women threatens your advancement? Think again, says Natividad. More women actually means less competition.
“Having one woman means she’s by herself, two women often means competition, but if you have three or more, the focus turns to performance, not gender.”
A McKinsey study shows that, while more than half of 2,000 surveyed C-suite executives understood “the business case” – where companies with more women see better results – only 22 percent act on it.
“I don’t think women CEOs start out by saying, ‘I’ve got to bring in other women,” explains Natividad. They just know how to help other women find "what it takes to get to the top.”
Bonus PINK Link: Learn more about the benefits of promoting other women in our online exclusive.
By Caroline Cox
“In business, you get what you want by giving other people
what they want.” Alice Macdougall
*Supporting images from FreeDigitalPhotos.net, photostock, Michal Marcol, and sippakorn.