Wednesday Edition
Recently there was an article on the DiversityInc website (registration required) that indicated "women occupied only 16.4 percent of corporate officer positions in Fortune 500 companies in 2005," according to a survey by the nonprofit group Catalyst. My first thought was that it is sad that corporations really don't know what they are missing. Then I read the last line of the article and knew that women still roar!
For those companies that have figured out that having women at the top is a good thing, the Catalyst survey said, "companies with the highest percentages of women corporate officers have an average 35.1 percent higher return on equity and 34 percent higher total return to shareholders than those with the lowest percentages of women corporate officers." I would say that's taking it to the bank!
Before blogging became all the rage, Tom was posting book reviews and Observations (essentially early blog posts) to this site. You can find the archives below.
What we're talking about
on the front page.
Comments
So one of the interesting questions is this: ¿Is the superior performance the result of
A] The women these more balanced companies hire making better decisions than the males generally hired;
or
B] The kinds of companies that make an effort to overcome cognitive inertia and hire based on merit instead of gender or alma mater or height or skin tone are by definition better-adapted to overcome standard behaviours and decision-making & therefore more likely to be more free of "the way we do it", ergo more likely to excel.
I tend to think [B] because as a hiring manager I try to go into a recruiting event with no pre-conceived notions...at least based on ethnicity or religion or gender or any social phenotyping. The idea that women (or men, or Calvinists, or Tigers fans) are innately superior executives runs counter to my default.
BUT
Statistically, one can make an argument for [A]. If your competitors are tending to leave the women in the pool in favor of men-of-generic-distribution-of-ability, and if you aim to hire women-of-quality, it's going to be easier. Easier because more women-of-quality will be left in the pool, ergo more great candidates per-capita.
¿What do you think?
Posted by jeff angus at August 3, 2006 11:13 AM
Interesting Val - though your spin seems sterotypical WOMEN roar sexism [as somehow superior by gender - is that the talk that still slips in]?
Thought provoking Jeff - well done. Conversely perhaps the 63% of small business startups now that are women driven - may be an indication that "Fortune 500" isn't where-it-is-at for women these days = be an entrepreneurial FEM "owner".
And the university 60% women graduation rate too - an indication that VALUE is there - and perhaps affirmative action is due men in higher education to balance the scales?
Posted by sean at August 3, 2006 11:33 AM
This is going to be an interesting thread. But it's a tough argument that Tigers fans are innately superior, Jeff. And regarding the reverse sexism, Sean, I'm seeing a new support group that's coming to the rescue: Whining White Males.
Posted by John OLeary at August 3, 2006 2:09 PM
And you [me] as whinie lead John [esp. to profit from it] - with a "trippy cool" Byrds' look ...
Posted by sean at August 3, 2006 2:55 PM
Ah Sean you never cease to amaze me....
Its also quite interesting how FEW comments are attributed to this post....goes to show you how many MEN read this site....where are all the women out there?
Posted by rachel at August 4, 2006 11:42 AM
It was also reported recently, in an Oxygen Network study, that 75% of women polled would prefer a new plasma television than a diamond necklace. Today, women own just a fraction less tech gadgets than do men - and almost 50 percent of women troubleshoot their own computers today.
Listen to my podcast tribute to these high tech ladies: http://www.messagingtimes.com/blog/?p=425&language=EN
All the best
Tom
Posted by Tom O'Leary at August 4, 2006 1:35 PM
Anyone who has not yet should read Robin Wolaner’s book ‘Naked in the Boardroom.’ It is a real eye opener. Come on fellow males - let's just admit it - we are crap at the stuff women are good at. As mentioned in other postings I am an avowed 'softie' manager; an ENFP Myers-Briggs; so I am supposed to be ‘in touch’ with my feelings but Robin’s book convinces me that we males have a long way to go to even reach the starting line in some areas. I am surprised it has taken us so long to get the message and that probably 80% or more of blokes don’t even see a problem!
Posted by Trevor Gay at August 4, 2006 5:03 PM
Trevor: NITB is a great book! I just read it last weekend. And yes, many men have no idea that there is a problem. Some even worry that women will become the majority and they will need to be a protected class. I doubt that will happen. I recently watch a female coworker be passed over for a promotion to a position for which she had the education and experience. Instead a man was hired who had no relevant experience but was definetly cut from the same cloth as the boss. Very disappointing that this still goes on in the 21st century.
Posted by GraceAnn at August 5, 2006 11:41 AM
Hi Grace - Thank God people like Tom are beating the drum on this. I am not really into gender discussions and have always believed the best person should always get the job. I have had good bosses of both genders. Overall I do believe things are getting better (even though it may not always seem that way) I agree there is still a long way to go. That story you quoted is still, I imagine, sadly typical. There are many world icon female role models in business like Anita Roddick and women are their own best advocates as indeed are men of course. This whole thing is less about gender and more about ethics and integrity.
Posted by Trevor Gay at August 7, 2006 5:43 AM
Second read though John O'Leary on your "Whining White Males" - reads like a sexist / racist O'Leary post - I'm not "white male" either - so in the least you're off base and/or low IQ.
Posted by sean at August 8, 2006 10:30 AM
I'm a woman. Here's the deal!. Women see things in a multifaceted way and they have the ability to take communication to a whole new level. It's right brain on overdrive. But let's not negate the power of a man: typically(not stereotypically ) a left brain icon. What I would like to see is bi-mangement: Men and women who both split the lead position and bring both their set of skills to the table. The universe needs both yin yang and male female to continue to produce balance. Think outside the box: doesn't have to be just one sex managing at a time: what about two?
Posted by sandra at August 13, 2006 11:31 AM