In Australia, companies are realising that Diversity and Inclusion is good for business.
With 46% of the workforce represented by women, inclusive targets of 50% of women represented on leadership teams are being set and achieved by Boards, CEO’s and Heads of Diversity + Inclusion. However, we still have a long way to go. Organisations need to actively turn their attention towards attracting, engaging, developing and retaining their top female talent.
WGEA’s 2017 Employer of Choice for Gender Equality list recognised only 106 Australian organisations. There is a long road ahead for companies who are making the conscious decision to get serious about their workplace gender diversity efforts.
The harsh reality of the Australian workforce is that gender equality does not yet exist.
2018 reports revealed Australia’s full-time gender pay gap sits at 14.6% (WGEA). This report also found that female representation on boards is static (24.9%) and few management teams are reporting pay equity metrics to the board. Notably, while women are just 38.4% of all managers; 43.4% of manager appointments in 2016-17 went to women, demonstrating the gender balance in leadership is set to continue improving.
So, what are the advantages of having women in the workforce? Are they good for business?
- Companies with gender diverse teams are 21% more likely to experience above average profitability (McKinsey and Company, 2017).
- A move from no female leaders to 30% representation is associated with a 15% increase in the net revenue margin (Working Paper Series, 2016).
- 67% of job seekers say they consider diversity when evaluating companies and job opportunities (Allegis Group Report, 2018).
- Companies with diverse workforces are 1.7 times more innovative than competitors (Allegis Group Report, 2018).
- Companies with at least 30% female leaders had net profit margins up to 6% higher than companies with no women in senior ranks (McKinsey and Company, 2017).
Women ARE good for business. Companies which fail to harness female talent are not positioning themselves for growth.
There is no “quick-fix” to Australia’s workplace gender equality problem. Repairing the gender imbalance takes time, commitment, and conscious effort.
Focus on improving gender balance must come both from senior management and all other employees. At Corporate Diversity Pathways, we partner with WGEA, and have made it our mission to see more companies on the 2018 Employer of Choice list. We pride ourselves on our ability to advance companies’ internal D+I framework and to action programs which further Australia’s female talent in the workforce.
Our Careers for Women scheme builds female leadership capacity to drive change and position your organisation for growth.
At CDP, we understand it can be challenging to find great people for upcoming roles and vacancies at your organisation. Our CEO, Jéromine Alpe, has over 25 years of recruitment and HR experience, and is an expert in selecting the right women for the right roles, at the right time.
Our Executive Search services are unique in that we spend time with our clients to understand the goals of the organisation, the current staff structure, the operating environment and KPI targets. An inclusive recruitment philosophy is a winning Diversity and Inclusion Formula. We help organisations develop a talent strategy that complements and delivers on their corporate strategy.
CDP offer a structured, evidence based approach to inclusive leadership and talent management.
CDP’s thorough global search capability ensures organisations are supplied with talented, reliable, enthusiastic women, who are experts in their field and values aligned to your organisation. We guarantee increased employee satisfaction and thus a more productive workforce.
Together we identify opportunities for positive change and enhancement based on the current infrastructure, managerial capability and employee experience.
CDP provides clients with an effective employee selection process so that your business can respond to challenges, cultivating the skill sets of your current workforce and retaining highly talented employees.
We thoroughly identify and develop the specific objectives and measures of success to be achieved within an agreed timeframe. Clients and senior executive candidates have recognised our successful structured approach. We have gained a reputation for being transparent and responsive with a genuine desire to act in the best interest of all parties.
“Jéromine’s role as our HR Consultant and partner has encompassed strategy, organisation structure development, recruitment, employee profiling and performance development. The effective management, motivation and development of individuals to be outcome focussed and achieve fundraising targets is vital to success in the highly competitive charity sector in Australia.”
– Shanthini Naidoo, CEO St Vincent’s Curran Foundation
CDP also Offer a Range of Diversity + Inclusion Programs
- Our Diversity and Inclusion Advisory is designed to assist organisations in creating company policies and strategies around gender diversity.
- Our D+I Leaders Network is an exclusive network designed for Boards, CEO’s and D+I Leaders. The invitation only events allow attendees to participate in conversations that matter on best D+I practices for their organisation in an environment of confidentiality, trust, openness and respect.
- CDP offer Young Future Leaders professional development programs, a networking forum and breakthrough coaching; as well as hosting events specifically designed to target their concerns.
- CDP’s Executive Development Programs are guaranteed to accelerate personal and professional growth and development within a safe and confidential environment. With a focus on shared learning and experience, our fully customised programs are facilitated by Executive Thought Leaders, experts in their chosen field.
- Our Workplace Wellness Programs are the solution to the imbalance in personal and professional development. Workplace wellness programs create inclusion, lowering absenteeism through healthier life habits and strategies that become a way of life both at home and at work.
Many companies use expert solutions provided by consulting and advisory firms to advance gender equality. However, the offering of gender equality services tends to be fragmented.
We are working to identify and promote a portfolio of gender equality services from consulting organisations who meet Femeconomy’s criteria. The criteria to be a Femeconomy approved company is at least 30% of women on the Board of Directors or 50% female ownership. This provides businesses with the opportunity to support gender equality through their procurement decisions. Contact us for more information.