Shortcut to Fabulous Stats to help Empower Women
Okay, so even though I am a lawyer, I pretty much find everything our lawmakers do to be a total snooze fest. However, a report by the Majorty Staff of the Joint Economic Committee Representative Carolyn B. Maloney came to my attention this week and it made my jaw drop…in a good way! The report is titled, “Invest in Women, Invest in America: A Comprehensive Review of Women in the U.S. Economy.” The report is kind of long…252 pages kind of long, but it includes statistics and facts that will fill you with empowerment and will make you want to sneak a few copies onto your boss’s desk. Page 17 of the report contains the following paragraph, which not only makes sense but makes me want to rent out a Time Square billboard and plaster the stats on it for a few years…read and weep boys:
“Take, for instance, women’s role in business. Firm performance correlates directly with women’s representation in corporate leadership. Companies with the most women on their boards of directors outperform those with the fewest women on their boards on myriad key performance measures – return on invested capital is 66 percent higher in firms with strong female representation, return on equity is 53 percent higher, and return on sales is 42 percent higher.17 The link between women’s representation on corporate boards and firm performance holds across industries. Fortune 500 firms with the best record of promoting women to senior positions, including their boards of directors, are more profitable than their peers.18 The 25 firms with the best promotion records post returns on assets 18 percent higher, and returns on investments 69 percent higher, than the Fortune 500 median for their industry…
Women leaders are more likely than their male peers to demonstrate types of leadership behavior that positively affect corporate organizational performance, including participative decision-making, role modeling, inspiration, expectations and rewards, and mentoring.20″
I know this is a departure from the normal Shortcuts to Fabulous living tips given on this website, but knowledge is power, and this report and some of the information contained in the report might empower some of you to ask for the promotion you deserve or the raise you earned too long ago to mention. In fact, I think some of the statistics contained in the report might be great to have on hand for your next meet and great with management. There is absolutely no reason that women are still earning 77 cents for every dollar that a man earns, but if we take some time out to absorb information like the information contained in the senate report referenced above, we can start to chip away at the pay gap! Click here for the full Senate report and please pass along to all your girlfriends, sisters, mothers and daughters.