Photo Credit: Rawpixel.com, Unsplash.com

“Good leaders organize and align people around what the team needs to do. Great leaders motivate and inspire people with why they’re doing it. That’s purpose. And that’s the key to achieving something truly transformational.”

Marillyn Hewson, Lockheed Martin

New McKinsey research shows that gender and racial diversity at senior levels are correlated with increased profitability. In organizations where at least 20% of the executive leadership are women, profits outperform industry average by 22%.

Organizations that have fully integrated women see profits outperform industry averages by 46%.

How will you lead your company from good to great, by inspiring the market to want to work with you and choose your solutions over those of your competitors? How will you resonate with the core values of your customers? What partners could you attract if you shared your commitment to integrate women into the very foundation of your success?

There’s a myriad of reasons to invest the time, energy, and resources into transforming your organization into one that fully integrates women. Some of the most significant include:

#MeToo

The enormous cost of payouts and bad publicity plummet with a cultural shift to intolerance of this behavior. Sexual harassment, assault, and diversity legal actions should NOT be just another cost of business.

The size of the lawsuits and settlements are growing to mindboggling proportions and have yet to hit their peak. And like any firestorm, without significant effort to mitigate, extinguish, or better, to preventthe business, your leadership, and you run the risk of being consumed by that fire.

168

13

80

The numbers? $168 million, the largest single settlement for sexual harassment, paid out by a healthcare system; $13 million paid out by Fox News; 80, the number of women assaulted by Harvey Weinstein—the payouts range between $80K and $150K.

Retention of High Potentials

Women have worked HARD to get where they are. Their skin’s tough. They’re resilient. They listen and communicate well. They aren’t bossy, they’re leaders!

Three times as many women as men feel that they don’t have promotional opportunities. They leave to start their own businesses; they believe that they need to find alternative career paths to have equal opportunities. Companies that actively engage with women at the entry level about their possibilities for advancement set themselves up for success. You significantly reduce the cost of turnover and improve retention of those with the most potential.

Competitive Hiring

It’s never too early to be thinking about retention. Your recruiting process can now reflect your strategy and true belief in the value of diverse thought. You attract higher level candidates who see the opportunity for advancement.

Market stickiness

Who are your primary customers? What’s important to them?

The power of the #MeToo movement and visibility of unequal pay structure is pervasive. Companies that embrace the cultural shift benefit in many ways that impact their bottom line. You become attractive to your customer base for your core values as well as your exceptional products and services. You become the first choice as a business partner, creating loyal followers.

Diversity of thought

Broad thinking results in a more creative approach to your opportunities. You’ll grow more quickly, find more solid solutions, and be more profitable when you embrace the diversity of thinking that a broader leadership spectrum brings to the table.

It’s up to you. Will you outperform your competition by leveraging the power that the women in your organization bring to the table? The results are waiting for you!

BreakAway Leadership Coaching and Fortitude Consulting have forged a unique and powerful alliance to energize successful companies to dramatically increase profitability through a true integration of women into their leadership. We work with our clients to create sustainable cultural change that goes far beyond #MeToo and removes cultural blind spots for a significant gain. Please contact us at [email protected] for a free consultation and more ideas on success through diversity.

 Photo Credit: Rawpixel.com, Unsplash.com