by Clive Stiff
Originally published: July 4, 2016
As more and more businesses in Australia embrace the push for gender equality in the boardroom, there can be no doubt that a diverse workforce is good news for both companies and our society.
Empowering women isn’t just the right thing to do. It is essential to drive social and economic progress, and sustainable business growth.
In Australia, research by La Trobe University found that over a seven-year period, listed companies with greater board diversity delivered better performance. Furthermore, a 2015 report looking at 4,000 public companies globally found that companies with strong female leadership* generated a return on equity of 10.1 per cent per year vs. 7.4 per cent for those without. The business case for gender equality has never been stronger. As the world becomes more complex and uncertain we need more diverse voices and opinions around the table (in both business and government) to tackle the challenges facing our society and ensure long-term business success. Throughout my working life, all of the teams I have been part of have performed better when women were involved in the decision making.