A Harvard Business Review study showed that a business group’s collective IQ went up when there were women on the team. So why are there only 12 of the Fortune 500 companies run by women?
Watch this great One-Minute MBA video to learn more.
Women Get Fewer Game Changing Roles.
Many studies have shown the under-representation of women in executive roles. Why is this? A Catalyst study has determined the experiences that shape and predict advancement of women as future leaders. The 70/20/10 model supposes that 70% of development happens on the job, 20% through critical relationships and 10% through formal training programs. The 70% where the biggest career lift comes provides employees with high visibility assignments, really critical roles and international assignments. Men tend to get more of these positions as the facts show:
- Profit and loss responsibility (56% of men, 46% of women).
- Management of direct reports (77% of men, 70% of women).
- Budget responsibility of greater than $10 million (30% of men, 22% of women).
- Among those who had worked in at least one multinational company post-MBA, men also received more international experiences than women.
- More men worked on global teams requiring extensive travel without relocation (88% of men, 77% of women).
- More men had international relocations (28% of men, 17% of women).
Women Rated Higher in Overall Leadership Effectiveness
According to another study by Harvard Business Review, while the majority of leaders (64%) are still men, more women are rated by their peers, their bosses, their direct reports and their other associates better than their male counterparts.
