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An increase in the number of CEOs, but the road to equality is still long - Walla! Money

2021-10-26T09:26:15.742Z


Women in management are worth money to the organization, according to a comprehensive study conducted by Credit Suisse Bank. Boards that have demonstrated gender diversity have had better business results and investor confidence


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An increase in the number of CEOs, but the road to equality is still long

Women in management are worth money to the organization, according to a comprehensive study conducted by Credit Suisse Bank.

Boards that have demonstrated gender diversity have had better business results and investor confidence.

Despite the impressive increase in the number of women executives, the road to equality is still long - albeit shorter in France

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  • CEOs

  • LGBT

  • Managers in the economy

  • women

  • Unicorn

  • Credit Suisse

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Tuesday, 26 October 2021, 11:39 Updated: 12:18

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Credit Suisse's Gender 3000 report was published, which conducted a comprehensive global study on the integration of women and LGBT people in management positions in organizations.



The report shows that women make up about a quarter of the functionaries in conference rooms around the world. It also shows that in Israel about 42% of women are employed in the fields of science, technology and mathematics, about 2% more than the corresponding figure in the United Kingdom and 5% less than in the United States.



The study also reveals that the percentage of women in CEO positions around the world has increased by 27%, but before opening champagnes, it should be noted that they still make up only 5.5% of the total. 17% and they currently account for 16% of all CFOs worldwide. The



percentage of women in CEO positions in Europe stands at 6.7%, the largest increase since 2019. Asia, excluding Japan, is in second place with 6.2% CEOs and the US "The percentage of women in CEO positions is 5.6%.



The report also reveals that gender diversity in conference rooms continues to improve around the world, with an estimated average of about 24% for women sitting in conference rooms. The percentage of women in senior management positions - C-suite roles also improved and rose to 20%.



The results of the study show that there is a positive relationship between gender diversity in senior positions in the areas of capital returns, environment, society and government (ESG) and the companies' share performance. The greater the diversity in the company, the stronger the connection.



The study describes the state of female representation in the field of entrepreneurship. Over the past five years, the ratio of women to men who founded start-ups has risen from 0.62 to 0.73 with challenges facing women founders in start-ups.



The Gender 3000 report for 2021 provides a comprehensive update of companies and analyzes the progress made in improving gender diversity. It also focuses on the roles of senior executives and not just meeting rooms as another measure of profile improvement. The report analyzes the gender distribution of 33,000 senior executives. 3,000 companies across 46 countries.

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Student in France (illustration): her chances of joining the board in Israel in the future are the highest in the world: 45% of the directors in France, women (Photo: ShutterStock)

Executive women: Most women on boards of directors, in France

Between 2015 and 2021, the proportion of women on boards around the world rose by 8.9% and even doubled if we look at data from the beginning of the decade.



Europe and North America led the world average with 34.4% and 28.6% (respectively) in the appointment of women to the board. Asia Pacific reached 17.3% and Latin America with 12.7%. Relative performance tends to reflect the prevalence of investments in the environment, society and the ESG administration, but also the places where policy pressure was stronger.



European countries led the world in the percentage of women on the board with France leading the way with 45%, the UK ranked 10th with 35% women on the boards and meeting the previous targets set by the "30% Club" originally set for the British stock indices FTSE100 and FTSE350 on the London Stock Exchange.



There are significant differences in the Asia-Pacific region, with women's representation on the board ranging from 34% in Australia / New Zealand with the requirement for responsible investment more similar to countries in Europe and North America compared to a low representation of 9% in South Korea.

Despite the improvement in all countries, the graph is rising especially in Australia / New Zealand, along with Singapore and Malaysia.

Progress in the major Asian economies (China, India, Japan and Korea) has been slow compared to Latin America.

Nearly 20% of management positions worldwide, by women (Photo: ShutterStock)

Women in "C-suite" roles - the roles that begin with the nickname Chief

Credit Suisse's Gender 3000 report assesses how gender diversity is reflected in management teams. The average percentage of women in senior management rose from 17.6% to 19.9% ​​in 2021.



Europe and North America have the largest share of women in management positions. But the gap between these countries and the rest of the world is small compared to the gap in board positions. The gap in management positions is only one percent. The



number of women in CEO positions worldwide has increased by 27% although they still make up only 5.5% of the total. The number of CFOs has increased by 17% and they currently constitute 16% of all CFO positions around the world.



The percentage of women in CEO positions in Europe stands at 6.7%, the largest increase since 2019. However, Asia, excluding Japan, is in second place with 6.2% CEOs, while in the US women are CEOs 5.6%. For finance, women are particularly represented in the Asia-Pacific region except for Japan, where they fill a quarter of the CFO positions, well above Europe and the United States.

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Gender-diverse managements clearly lead to improved business performance (Photo: ShutterStock)

The relationship between gender diversity and business performance

Previous Gender 3000 reports described the diversity premium - the link between more gender-diversified companies and higher performance of companies and stocks.



Responsible Investment Scores (ESGs) in diverse companies also outperform those in the least gender-diverse companies, and the latest report highlights that the best-performing companies show excellent gender diversity in both boardrooms and senior management positions.

Tel Aviv Pride Parade: Investors seeking to maximize returns need to focus on companies that place women and LGBT people more broadly at the heart of their managerial strategy (Photo: Reuven Castro)

And what about LGBT people?

The report for 2021 does not check parameters such as man versus woman, but examines the parameters of gender diversity and inclusion broader related sexual identities. The parameter of man versus woman looks at companies in terms of gender diversity broader policy of inclusion relating to gender and sexual identities.



The research shows that companies that focus on Gender and gender diversity more broadly, tend to perform better in relation to their environmental policies and corporate governance.To



examine the impact of diversity on company performance using the LGBT purpose parameter, the report uses a weighted basket adjusted to the market value of about 400 companies Integrating LGBT content.



The companies were selected through a number of external sources that focus on evaluating company policies, practices and benefits related to LGBT rights. This analysis suggests that investors seeking to maximize returns should focus on companies that place women and LGBTs more broadly at the heart of their managerial strategy.



The stakeholders in the companies focus more on exposing the diversity beyond the board of directors and the upper management layers.

Looking at the top 300 companies in the U.S. by market value, the researchers found that the leading sectors in terms of workplace diversity are energy, services and finance. The three lowest sectors were in materials, industry and consumer goods.

Despite the positive data, there is still a huge gender gap in entrepreneurship: fewer women get to meet the startups they founded and the famous Wall Street bull (Photo: ShutterStock)

There is no female unicorn

The relative female representation in entrepreneurship has improved over the past five years, with the ratio of women-based start-ups to men rising from 0.62 to 0.73.

We find that businesses set up by women are smaller compared to businesses set up by men with lower incomes and lower value.



Among the top 100 unicorn companies in the world, it seems that no company has been founded by a team of women only.

While managed assets aimed at “investing in the gender parameter” rose to $ 10 billion in the first quarter of 2021, the representation of women in entrepreneurship needs to be improved.

Lydie Hudson, CEO of Sustainability, Research and Investment Directions at Credit Suisse: There is still a long way to go for equality (Photo: PR)

"The positive correlation between gender diversity and corporate performance"

To Hudson Lydie Hudson, CEO of Sustainability, Research and Investment Directions at Credit Suisse

, said:


“Diversity and inclusion are at the heart of ESG's responsible investment focus among investors and policymakers, and especially shaping expectations of what good corporate governance looks like.



This study describes the important correlation between diversity and organizational performance. As a global business, we have always been committed to a variety of people and a variety of thoughts, and the empirical evidence for the benefits of diversity is encouraging.



"However, as the report emphasizes, we know there is more work to be done. Studies like Gender 3000 are an excellent temperature test to see where we are and how far we still have to go to move forward equitably."



Richard Kersley, Head of Global Thematic Research at Credit Suisse,

said:


“It is exciting to see a continuing increase in the diversity of meeting rooms represented in our recent Gender 3000 report.



The study reflects the positive correlation between gender diversity and corporate performance.

However, as we have always done throughout our research life, we do not determine cause and effect in our analysis and point only to the observed and ongoing correlation.

Although we know for sure that gender diversity within management and meeting rooms is growing worldwide, there is still much room for improvement, especially in emerging and prominent Asian countries.



This year, we also delved into the inclusion parameter of the LGBT and discovered that shareholders are increasingly engaging with the issue of diversity in a broader way. "

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Source: walla

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