Prepare for the Future: Position your Company as an Industry Leader
Studies show that firms with more women in leadership roles have greater profits. However women currently hold only 5% of Fortune 500 CEO positions. Facebook, Google, Apple and Twitter have confessed to their diversity in leadership struggles. All four companies have committed to changing the balance of women in leadership.
Your company will benefit from promoting women to take part in leadership.
Act Now: Increased profits aren’t the only compelling reason to ‘woman up’ immediately. By 2020, 31 million baby boomers will be eligible for retirement(1) . Companies must integrate succession planning immediately with qualified talent to fill this gap. Since women make up more than 50% of graduating college classes, and are outpacing men in attaining advanced degrees, they dominate the job pool. In addition, the workplace landscape is changing. Millennials list “quality of life” over pay, benefits, firm location and other factors when choosing an employer.(2)
Focusing on women’s professional development now will result in a sound infrastructure for the future. Your company will be poised to attract, retain and promote highly desirable job candidates.
Progressive Companies Have Profited: Rothstein Kass is living proof that investing in a robust women’s initiative will yield a VERY healthy ROI. Rosalie Mandel created Rothstein Kass’s women’s initiative, in 2009. “We asked ourselves, ‘How do we help women generate business opportunities on a larger scale? How do we help them become thought leaders and better service our clients?’ LIFE’s business development platform was created to answer these questions.”
The result: 6.5 million dollars brought to the bottom line, with 2.5 million in unrealized revenue. All this and an unexpected benefit of ‘softer’ returns, such as growing confidence in its rising women, a deepened awareness of retaining women, and a stronger engagement with worklife programs, which benefited everyone at the firm. Rothstein Kass did it, and so can you.
Here’s How Your Company Can Profit: Ground your succession planning with a substantive women’s initiative that offers a holistic and practical approach to advancement. Once top management understands the financial and cultural advantages of a diverse workforce, and genuinely supports the women’s initiative, the “tone at the top” will permeate the enterprise. Advancement intentions incorporated into annual goals, clearly illustrating the intent and dedication of leadership to this program will promote a successful initiative.
The most important mind shift that firms can make is the women’s initiative should be directed by experts not well meaning volunteers (3).
A Snapshot of Your Functional Women’s Initiative: A progressively designed, leadershipendorsed women’s initiative with clearly stated goals leads to more diversity in leadership.
This initiative will support women in two vital areas:
1. Practical Skills For Succession – Women communicate differently than men. Until recently women have tried to adopt masculine techniques when doing business. However, Executive Presence and Emotional Intelligence (EQ) are key to success in corporate environments. An industry report found the three most preferred leadership qualities in the workplace were service to others, coaching and listening.4 These “traditionally female” leadership attributes handily beat the mostadmired “traditionally male” leadership trait “command and control” .” Translation: EQ is crucial! Professionals who employ executive presence by embracing the nuance of these “womanly” leadership qualities will further excel as promoted.
Programming designed to strengthen EQ is applicable and necessary for women and men, and will benefit all employees.
2. The Art of Business Development - Business development and networking are key to attracting and retaining clients. This equates to a more robust bottom line. These skills are not intuitive, but your talent can learn to manage a healthy network. Education leads to converting contacts into clients the gift that keeps on giving.
Once key tools in network management are understood, employees should be exposed to potential connections. Many women’s initiatives are focused intrafirm, occasionally inviting clients to events. While it is important to develop strong relationships with colleagues and nurture existing client relationships, involvement in a broader community results in multiple sources of referrals and business.
DRIVEN Professionals (DRIVEN) Can Help. DRIVEN provides you with the opportunity to outsource or bolster your existing women’s initiative. Your team members can conveniently engage in professional development from a woman’s perspective, learn in a community environment, and apply tools for success in low risk situations. Your colleagues will be equipped to better manage life events, resulting in more engaged employees at work when these natural cycles occur.
Due to DRIVEN’s bifurcated approach, your colleagues master skills needed to transition into roles of greater responsibility. Your constituents have access to a vibrant business prospect pool by attending DRIVEN signature community events. DRIVEN will guide your future leaders as they transform into thought leaders.
DRIVEN Seal of Approval: DRIVEN has created a tailored process to insure positive growth towards a more diverse leadership team. You can invest in a turnkey solution to women’s advancement. You will be provided with a customized care plan, which compiles the results of a DRIVEN administered company assessment and agreed upon goals. We work together to advance women and monitor the effectiveness of the program. We guarantee incremental progression toward women in leadership. We are invested in your success.
Invest in Your Human Capital Today: The time to invest is now. Visionary companies are putting effective programs in place. Don’t be left behind. Position yourself to benefit from a new workplace landscape. Profit from a better bottom line and the halo effect created when associating with DRIVEN.
Sign up today, and begin seeing results tomorrow.
1 US News and World Report
2 2013 Public Accounting Report Annual Professors Survey
3 Currently, most women’s initiatives are headed up by women at the firm who have a full palette of job responsibilities. According to the November 2012 NAWL Report.
4 2014 Accounting MOVE Project Report