Disruption and gender diversity are two of the biggest topics facing business leaders today. Both issues are critical to the future of every industry. And they are closely connected.
The best way to navigate disruption is to harness the power of diverse thinking by enabling people with different experiences, ideas and knowledge to come together in an inclusive culture. Gender diversity is a critical part of the equation. Not only this, gender diverse leadership is proven to increase the skills businesses need to navigate the disruptive trends transforming their industry.
Despite the business imperative around diversity, EY’s recent research report, Navigating disruption without gender diversity? Think again., shows that many organizations are still not making real progress. Around the world and across the seven industries we researched EY found a lack of meaningful action that will deliver greater gender diversity in the boardroom.
Whilst business leaders overwhelmingly recognize the challenges ahead and acknowledge the value of diverse senior leadership in overcoming these, five disconnects are holding businesses back from greater gender diversity at Board levels:
- the reality disconnect
- the data disconnect
- the pipeline disconnect
- the perception and perspective disconnect
- the progress disconnect
As we come up to announcing our 7th Future Leaders Award Winner, the pipeline disconnect is of particular interest.
Companies aren’t creating pipelines for future female leaders
Many organizations say they are effective at attracting and retaining women.
Only 56% believe they are effective at promoting female leaders.
And while more than half of respondents of EY’s report say they must improve in this area, less than one-fifth have formal programs to identify and develop women for leadership.
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