No. CCXXII; August 26, 2020
THIS ISSUE’S HIGHLIGHTS

I. ANOTHER STUDY SHOWING WOMEN AT THE TOP BENEFIT FROM THE BOTTOM LINE
II. 100 YEARS OF WOMEN’S RIGHT TO VOTE IN THE U.S.
III. FROM THE GLOBAL SUMMIT TO YOU: POST-COVID MEGATRENDS

I. ANOTHER STUDY SHOWING WOMEN AT THE TOP BENEFIT FROM THE BOTTOM LINE

Large U.K. firms whose executive boards are at least one-third female are 10 times more profitable on average than all-male boards, and the gap in performance is growing, according to a new report from the Pipeline, a gender diversity consultancy.

According to the report, the 350 largest publicly-listed UK companies (FTSE 350) would generate 195 billion pounds (US$250 billion) of additional pretax profit if their margins matched that of the firms with greater female representation.  Over the past five years, this is the largest difference between gender diverse boards and all-male boards given recent declines in profits at companies with all-male boards.

Former British Prime Minister Theresa May wrote in the forward of the study, “There can be no good explanation for the massive underrepresentation of women at the top of British business — so it must change. Firms that don’t will discover that they cannot recruit the talent they need to succeed.” (Bloomberg News, “U.K. Companies With More Women on Executive Boards Outperform on Profits,” July 27, 2020)

This report is the latest of over 80 studies conducted in different parts of the world demonstrating the impact of women in corporate leadership on companies’ financial performance. To see a listing of these ‘business case’ studies compiled by the Corporate Women Directors International, click here . 

II. 100 YEARS OF WOMEN’S RIGHT TO VOTE IN THE U.S.

        This week, the U.S. recognizes the 100^th Anniversary of the 19^th Amendment to the Constitution, which solidified women’s right to vote, though women of color were effectively denied voting rights in many states until the Voting Rights Act of 1965 was passed. Other countries granted women’s suffrage years earlier. New Zealand, for example, was the first country where women had the right to vote in 1893.  Others, such as Switzerland, did not grant women the right to vote until 1971. In all cases, when women received the right to vote, it was a result of extraordinary effort by women fighting for equality.

        Since the Suffragists’ success in the U.S, the road to political equality remains distant. One hundred years later, women in the U.S. still have a long way to go for equal representation.  Women currently comprise 25% of Congress, 29% of state legislatures, 18% of Governors, and the U.S. has yet to have a woman President.  Globally, women hold only 25% of Parliament seats and 21% of Ministerial posts, and less than half of all countries have had a woman Head of State in the past 50 years, according to the Inter-Parliamentary Union.

        Although women have comprised the majority of voters in the US since 1980, men have remained in control of most political offices in the country at the federal, state, and local level.  Statisticians estimate that equal representation for U.S. women will take another 60 years.  As many have witnessed that countries led by women, such as Germany, New Zealand, Iceland, Norway and Finland, have been faring better than others in combating COVID-19 in their countries, more people are becoming aware that women in leadership positions do make a difference.  

        According to the Gender Quotas Database project of the International Institute for Democracy and Electoral Assistance (IIDEA), 80 countries have gender quotas that include ensuring equal numbers of men and women on the ballot or outright reserving seats for women in the nation’s legislature.  While this does not necessarily lead to equality, it can bring about greater representation.  

        As we mark this 100-year anniversary of women’s suffrage in the U.S., and honor the work of the women who fought for the right to vote worldwide, it is incumbent upon us to continue their efforts to bring about a more equal and just society – and to be sure we use that hard-won right to vote.

III. FROM THE GLOBAL SUMMIT TO YOU: POST-COVID MEGATRENDS

        The Global Summit of Women continues its 2020 virtual series “From the Summit to You” with a special session on “Post-COVID Megatrends” exploring how the pandemic has changed the ways people connect, consume, work, get educated and socialize, and in what way these patterns affect the re-set world that emerges.

        On Wednesday, September 16, join Summit President Irene Natividad and three acclaimed panelists who will provide valuable information as the Summit has done throughout its 30-year history.  Sharing their expertise on the panel are Miki Tsusaka, Chief Global Marketing Officer for Boston Consulting Group;   Marie Lalleman, President, Global Client Solutions for Nielsen; and Patama Chantaruck, President of IBM Thailand.

Some of the questions the panel will address include:

• What consumer trends will become permanent?
• In what way will the nature of work change?
• Which business areas will thrive and which will disappear? and
• What will be the long-term effect of technology, such as AI and robotics, on women’s role in the workforce?

        Space is limited for this session and we are expecting a tremendous turnout, so sign up today to guarantee your seat. A link to register will be sent to you following your reservation.

        To reserve your space for this special virtual event, go to: https://globewomen.org/globalsummit/index.php/post-covid-megatrends-registration/

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CONTACT US
Global Summit of Women
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