Are We a Woman’s Nation?

When we look at the facts and figures it seems clear that women are not just transforming the workplace, they are transforming the entire country. The recent Shriver Report indicates that for the first time, half of US workers are female – and in 40% of American families those women are the primary breadwinners.

With more and more men forced to stay home, more and more women are bringing home the bacon. Women are more likely than ever to head their own families. They’re doing it all—and many of them have to do it all. When they work, it’s no longer just for “the little extras.” Their income puts food on the table and a roof over their heads, just like men’s income always did.

First Lady Maria ShriverEven a quick glance at the Shriver Report signals the widespread changes that have occurred in just a generation. Between 1975 and 2008, the “traditional” family structure (a working husband only) has more than halved, from 52% to 21%. This has impacted families and women in particular in a myriad of ways – generating political, policy and organizational challenges around flexible working hours, child care, opportunity, equal pay and family care. At the same time, it is clear that women are reaping the benefits of education – women now receive 62% of college associate’s degrees, 57% of bachelor’s degrees, 60% of all masters degrees, half of all professional degrees and just under 50% of all PhDs – a stunning turnaround since 1970, especially at the upper end where women received fewer than 10% of professional and doctoral degrees.

Yet despite these indicators, and despite the fact that we have women in the high ranking public positions of Secretary of State and Speaker of the House, it seems that appearances are, in fact, deceiving. In her New York Times article, The Mismeasure of Women, Joanne Lipman suggests, “… Somewhere along the line, especially in recent years, progress for women has stalled. And attitudes have taken a giant leap backward.”

Rather than focusing only on the statistics – on the numbers, the gains, the incremental improvements, we need to look, as Joanne Lipman suggests, to changes in perception, alterations in behavior and how this creates the conditions for a change in the way this nation thinks of, and engages, its women citizenry. We need to take the same approach within our organizations – looking at what Jo Miller calls the “shadow organization” – the networks of relationships that hold and carry influence, and create action across the enterprise regardless of hierarchy – and actively put in place plans to promote our achievements and influence the way that they are perceived and even valued.

For sure, we have made progress, but better jobs, more pay and greater opportunity is one thing. Respect is another. Our challenge as leaders is to shift the conversation around the topic of women. After all, if you want profits, you have to smash the glass ceiling. It’s time to put the numbers to work – our numbers, the numbers that lie behind Maria Shriver’s report – and we’ll all be better off for it.

Nina Nets It Out: Women have made significant gains in the last 30-40 years. But for all the statistics, there are still inequalities – cultural inequalities which threaten to undo the good work of a generation. Leaders, as the custodians of organizational culture, have an important part to play in transforming both the perception and reality of women in business.

Follow Up Questions from My Conversation with Jo Miller

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WLC Logo - Jo Miller Last week I had an opportunity to talk with Jo Miller, CEO of Women’s Leadership Coaching, and the many listeners who attended the webinar on office politics.  Our discussion prompted many questions from the listeners and in response to these questions, Jo and I took the opportunity to reply.  These questions and answers can be seen on the Women’s Leadership Coaching site by clicking here.

I strongly encourage readers to click over and to explore not just the set of questions that arose from the office politics webinar, but to delve further into the Women’s Leadership Coaching site.  The webinar series is an excellent way to hear from various industry professionals on topics that are very relevant to those in the workforce.

And in case you missed my discussion with Jo, you can find it here.

My Conversation with Jo Miller of Women’s Leadership Coaching

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Jo Miller, CEO of Women’s Leadership Coaching, and I will be talking about “Winning at the Game of Office Politics” on Tuesday, February 24 2009, 11:00am-12:00pm PST

Some topics we’ll be addressing include:

  • Is it possible to navigate office politics without becoming a political animal?
  • Learn the difference between office politics and organizational awareness.
  • Discover the unwritten “rules of the game” at work.
  • Understand the dynamics of power and influence in your organization.

Get a copy of the presentation and listen to the podcast by clicking here.

Want Higher Profits? Smash the Glass Ceiling

According to a near two-decade research study of Fortune 500 companies (from 1980–1998) by Roy Adler, a Fulbright scholar and Professor of Marketing at Pepperdine University and one of a very select few awarded the distinction of Designated Fellow by the Academy of Marketing Science, there is a strong correlation between women in the executive suite and high profitability. In fact, within the 25 Fortune 500 companies with the best record of promoting women into high positions, profits were higher by an astounding 18-69% when compared to the median Fortune 500 firms within their same industry!

And to be sure, since different industries use different measures of profitability, the study included three measures of profitability to evaluate each of the firms – profits as a percent of:

  • Revenues
  • Assets
  • Stockholders’ equity.

Revenues

On the measure of profits as a percent of revenues, the 25 firms outperformed the corresponding industry medians by 34%. The women-friendly firms averaged 6.4% while the average of their industry medians was 4.8%.

When taken individually, almost two-thirds of the subject firms outperformed their median counterparts.

Assets

On the measure of profits as a percent of assets, the 25 firms outperformed the industry medians by 18%. The women-friendly firms averaged 6.5 percent while the average of their industry medians was 5.5%.

When taken individually, 62% of the firms outperformed their median counterparts.

Stockholders’ equity

On the measure of profits as a percent of stockholders’ equity, the 25 firms outperformed the industry medians by 69%. The women-friendly firms averaged 26.5% while the average of their industry medians was 15.7%.

When taken individually, 68% of the firms outperformed their median counterparts.

Slicing the data

In fact, these results are even more interesting when the “slice of data” is modified from the top 25 firms as shown in the table below:

Percent by which companies exceed the industry median in terms of …
Profit as a % of >>> Revenue Assets Equity
Top 10 firms 46 41 116
Top 15 firms 35 25 85
Top 20 firms 34 19 78
Top 25 firms 34 18 69

In other words, the results of the “top 25 firms” featured in this study are quite conservative. The results are even more dramatic when a smaller “slice” of only the most friendly firms for women are highlighted.

Of course, it should be pointed out that “correlation” does not indicate or prove “causality.” There may be any number of reasons why the study results are as indicated.

However, despite the interpretation of the data, there is no denying that there is a positive correlation between the existence of larger numbers of women in the executive suite and higher than normal profitability within an industry.

Source: Women in the Executive Suite Correlate to High Profits by Roy D. Adler, Ph.D., Pepperdine University


Nina nets it out: When you’re ready to earn higher profits and out-compete your industry colleagues, you know what to do!! For an interesting take on this from Inc. Magazine, click here.