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For the past few decades, advertising agencies have been striving to shed their image as smoke-filled rooms of white men.\u00a0\u00a0 However, although women currently fill half of all positions in the advertising industry, they make up only 11% of the most important position — creative directors.\u00a0\u00a0 The industry may now be getting the push it needs to bring more women and minorities into lead creative roles as the result of efforts by well-known international brands\u00a0 \u2013 Verizon, General Mills, and HP, for example — have begun to pressure the agencies they work with to bring in more diverse creative teams if they want to maintain their relationship with these companies.<\/p>\n
Why?\u00a0 Because predominantly white male advertising teams may be hindering company efforts to connect with many consumers, who are increasingly diverse.\u00a0\u00a0 In a letter to 11 ad agencies, telecommunications giant Verizon gave the firms one month to submit details on how many women and minorities they employed across different roles and in senior leadership and asked for action plans detailing how they would increase those numbers.\u00a0 \u201cWe are more likely to create solutions that amaze our customers if our workforce and suppliers represent the communities we serve,\u201d Verizon Chief Marketing Officer Diego Scotti said in the letter.<\/p>\n
HP also sent letters to the agencies it employs urging them to hire more women because women buy about half of its computers and printers, while General Mills has said it wanted creative departments it works with to be staffed at least 50% by women and 20% by minorities. (New York Times,<\/em> \u201cBig Brands Ask Ad Agencies for Action in Diversity Hiring,\u201d 10\/1\/16)<\/p>\n The Global Summit of Women will feature this topic at its annual Colloquium on Global Diversity: Creating a Level Playing Field for Women<\/em>, which takes place in New York on February 23-24, 2017 hosted by Time Warner.\u00a0 To see highlights from the previous Colloquium, visit www.globewomen.org\/globaldiversity<\/a>.<\/p>\n Women around the world have come together en masse<\/em> in several countries around the world this past month to protest against social and economic issues affecting women and girls. Utilizing a strategy popular in the 1960s and 70s, women are joining with each other to march as one, sending a strong message through their physical show of solidarity in the push for gender equality.<\/p>\n Poland<\/p><\/div>\n Women in Poland reignited this tactic in early October in their fight for reproductive rights<\/em><\/strong> when faced with proposed legislation that would make abortion a criminal act. In solidarity, women in several cities in Poland brought the workday to a halt by refusing to work and marching by the thousands in several cities on the same day to make their opinions heard.\u00a0 The result? The bill was withdrawn in a victory for women\u2019s economic and reproductive rights.<\/p>\n Argentinian women followed their Polish sisters two weeks later in a march to protest violence against women.<\/em><\/strong><\/p>\n Argentina<\/p><\/div>\n As in Poland, women stopped work for one hour, wore black and marched in the streets of Buenos Aires demanding more protection from government, the judicial system, and the police.\u00a0\u00a0 According to a human rights group, 275 women and girls were killed in gender-based violence in the country in the past year.\u00a0 In addition to protesting the recent rape and killing of a 16-year old girl, the women demanded more measures that would give them more economic opportunities, such as longer maternity leave, more child care options, and equal pay.\u00a0 In support for their Argentinian sisters and to spotlight the problems in their own countries, women in several countries in Latin America, including Mexico, Chile, Bolivia, Uruguay and Paraguay, marched as well. (New York Times<\/em>, \u201cWomen in Argentina Rally Against Violence,\u201d 10\/20\/16)<\/p>\n Iceland<\/p><\/div>\n Icelandic women joined together for their own protest march this week in support of equal pay for equal work.<\/em><\/strong>\u00a0 Citing statistics that women in Iceland earn 14-18% less than men in the country, women left work 14% earlier in the day — exactly at 2:38 pm — to join with one another for a march in the streets.\u00a0 Even though Iceland is considered a world leader in gender equality, it would still take 52 years to close the gender pay gap at current rates.\u00a0 The protest echoed the 1975 national protest in Iceland against gender inequalities when all women stopped working for a full day, bringing the country to a standstill. (New York Times,<\/em> \u201cWomen in Iceland Protest Country\u2019s 14% Pay Gap by Leaving Work 14% Early,\u201d 10\/25\/16)<\/p>\n Showing force in numbers and women coming together to create economic change is one of the reasons the Global Summit of Women takes place annually.\u00a0 Just announced:<\/p>\n Registration is now open for the 2017 Global Summit of Women held in Tokyo, Japan on May 11-13, 2017<\/u><\/em><\/strong>.\u00a0 To be a part of this global gathering and for more on the Global Summit of Women, visit www.globewomen.org\/globalsummit<\/a><\/em><\/strong><\/p>\n In 2011, Italy passed legislation requiring companies listed on its stock exchange to increase the percentage of women board directors to 33% by the end of 2016.\u00a0 At the time of passage, the percentage of women on Italian boards was barely 6%.\u00a0 In five short years, the percentage of women directors has increased five-fold to 30%.\u00a0 The quota has clearly succeeded in bringing more women into the boardroom, but that is not the only positive result of the quota.<\/em><\/strong><\/p>\n Findings from recent research by professors at Bocconi University show that new women directors had higher education levels than their male peers;\u00a0 they tended to be younger than other board members, and that the quota spawned a better selection process for the entire board resulting in more qualified board members<\/em><\/strong>.\u00a0 Lastly, the stock market has seemed to welcome the introduction of quotas that created more diverse, better qualified boards resulting in better stock market returns.\u00a0 Women tend to be seen as less risk-averse, which may account for lesser volatility of share price of Italian companies.\u00a0 (London School of Economics Business Review<\/em>, \u201cIn Italy\u2019s \u2018Male Gerontocracy,\u2019 Gender Quotas Induced the Restructuring of Company Boards,\u201d 10\/18\/2016)<\/p>\n Italy is just one of 22 countries around the world with a legislative quota for women on boards of publicly-listed or state-owned companies<\/em><\/strong>.\u00a0 To see the other countries with quotas, click here<\/a>.<\/p>\n Over 140 Mexican women business leaders joined Corporate Women Directors International (CWDI) Chair Irene Natividad in opening the Mexican Stock Exchange on September 30 to salute the contributions Mexican women have made to the country’s economy. <\/strong><\/em>\u00a0Brought together by CWDI, the event marked the first all-women Market Open at the Mexican Stock Exchange and the 17th Market Open organized by CWDI.<\/p>\n The Market Open was followed by a Forum on Women on Boards featuring Mexican and U.S. women directors.\u00a0 Joining the Forum was Louise Goeser, CEO of Siemens Mesoamerica; Patricia Gonzalez, Global Board Director of PricewaterhouseCoopers; Blanca Trevino, CEO of Sofftek and Board Director at Walmex;\u00a0 Paula Santilli, General Manager at PepsiCo Mexico;\u00a0 and Cari Dominguez, Board Director of Manpower and Former Chair of the U.S. Equal Employment Opportunities Commission.<\/p>\n CWDI Chair Natividad released a new CWDI Report at the Forum on \u201cWomen Directors of Latin America\u2019s 100 Largest Companies, 2005-2016.\u201d\u00a0 <\/em>The report shows that over the past 11 years since CWDI\u2019s first study in the region, the percentage of women board directors has only increased 2.2% in Latin America, from 5.1% to 7.3%.\u00a0 <\/strong><\/em><\/p>\n \u201cWith the wide-ranging female talent on display at the Market Open, companies have no excuse not to have at least one woman on their board,\u201d Natividad said.<\/p>\n To read more key findings of the CWDI report, click here<\/a>.\u00a0 For more photos of this and other CWDI Market Opens, visit www.globewomen.org\/cwdinet<\/a>.<\/p>\n The fact that women CEOs are more likely to be blamed is related to the \u2018glass cliff\u2019 phenomenon, wherein women are more likely to take the helm at troubled companies than men.\u00a0 Research has shown that 42% of women CEOs were appointed during times of crises, compared to 22% of men.<\/em><\/strong>\u00a0 Women were also forced out of these top jobs more often than men, 38% to 27%.<\/p>\n Clearly, the media influences the public\u2019s perceptions of leaders<\/em><\/strong>.\u00a0 The manner in which it portrays women leaders plays a role in the lack of women CEOs at top companies. (Fortune<\/em>, \u201cThe CEO is to Blame for a Company in Crisis \u2013 If It is a Woman,\u201d10\/26\/16)<\/p>\n BE A PART OF THE<\/strong> TOKYO, JAPAN<\/strong> Subscribe to the latest GlobeWomen e-Newsletters by <\/strong>clicking here<\/strong><\/a>.<\/strong><\/p>\n CONTACT US<\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":" No. CCXLVIII;\u00a0October 29, 2016 THIS ISSUE’S HIGHLIGHTS: I. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 WHY ADVERTISING TEAMS MUST BE DIVERSE II. \u00a0 \u00a0 \u00a0 \u00a0 WOMEN MARCHING FOR CHANGE – POLAND ARGENTINA, ICELAND III. \u00a0...<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6459","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/globewomen.org\/globalsummit\/wp-json\/wp\/v2\/pages\/6459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globewomen.org\/globalsummit\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/globewomen.org\/globalsummit\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/globewomen.org\/globalsummit\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globewomen.org\/globalsummit\/wp-json\/wp\/v2\/comments?post=6459"}],"version-history":[{"count":3,"href":"https:\/\/globewomen.org\/globalsummit\/wp-json\/wp\/v2\/pages\/6459\/revisions"}],"predecessor-version":[{"id":15032,"href":"https:\/\/globewomen.org\/globalsummit\/wp-json\/wp\/v2\/pages\/6459\/revisions\/15032"}],"wp:attachment":[{"href":"https:\/\/globewomen.org\/globalsummit\/wp-json\/wp\/v2\/media?parent=6459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nII. WOMEN MARCHING FOR CHANGE – POLAND, ARGENTINA, ICELAND<\/em><\/strong><\/h4>\n
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\nIII.\u00a0HOW QUOTAS FOR WOMEN DIRECTORS IMPROVE GOVERNANCE<\/strong><\/em><\/h4>\n
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\nIV. CWDI OPENS MEXICAN STOCK EXCHANGE<\/strong><\/em><\/h4>\n
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\nV. WHO IS TO BLAME FOR CORPORATE CRISES<\/strong><\/em><\/h4>\n
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A new Rockefeller Foundation report analyzed news articles to examine how the media portrays male and female CEOs at the time of a corporate crisis.\u00a0 When the CEO is a woman, 80% of press reports blamed the CEO for a company\u2019s troubles<\/em><\/strong>. In comparison, when the CEO is a man, only 31% of articles blamed him for the corporate downturn.\u00a0 This media driven \u2018blame\u2019 coverage has longer-reaching consequences.\u00a0 Since 2004, no woman fired from her job as CEO of a U.S. Fortune 500 company has ever been re-hired as a CEO.<\/p>\n
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\n 2017 GLOBAL SUMMIT OF WOMEN<\/strong><\/p>\n
\n MAY 11-13, 2017<\/strong><\/p>\n
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\n<\/em>Global Summit of Women
\n1100 G St. NW, Ste.\u00a0700
\nWashington, DC 20005\u00a0 USA
\ntel: 202-835-3713 \/ fax: 202-466-6195
\n<\/em>email: <\/em>summit@globewomen.com<\/em><\/a><\/p>\n