Many research studies point to the value women bring to boards. And our Colorado leaders add their perspective as to how women have helped their teams perform better.
46% improvement on Return on Equity
Compiled by CEOs for Women on Boards Advanced by Women’s Leadership Foundation
“Women in Business Leadership Boost ESG Performance: Existing Body of Evidence Makes Compelling Case” reviews research from many different studies.
The following ten leadership characteristic peculiar to women provide a compelling reason to identify and nominate qualified professional women for director roles.
1. Women are prone to “speaking truth to power” – in order to make points and add value to decisions, women have developed a characteristic of using logic and facts in addressing positions held by those with dominant opinions
2. Women are team players – team players are those who are inclusive, they invite other thoughts and opinions and they orchestrate discussions that use varying thoughts and opinions in their conclusions.
3. Women are persuasive – women use facts and less observations in their contributions to discussions and, thus, have an edge in creating persuasive arguments in discussions
4. Women seek ways to challenge effectively – women’s interest in inclusivity and presenting factual positions often allow them to create and present challenging and opposing positions
5. Women generally have a positive impact on board tasks, particularly those of a qualitative nature. Multiple studies show that they are adept at fostering strategy development, improving corporate social responsibility related issues and highly effective in monitoring management.
6. Women’s presence on boards can contribute to cohesiveness.
7. Studies show that women spend more time preparing for board meetings, have better attendance records for board meetings than men, and improve the attendance behavior of male board members.
8. Women additionally have a significant positive effect on board development activities such as board instructions and board evaluation.
9. Women may champion difficult or controversial issues and help broaden discussions to better represent the concerns of a variety of stakeholders.
10. Studies have further found that women can contribute to the creativity or innovation of board discussions and of solutions considered in the board meetings.
Governor John Hickenlooper’s Women on Corporate Boards Day Proclamation Excerpt “. . . research shows that companies with women on their boards are significantly more profitable than those without women on their board, and . . . high-performing publicly-held companies advance our economy and the standing of our state, both nationally and internationally, and the participation of women board members is critical towards these efforts.”
Kent Thiry, CEO & Board Chair, DaVita
Goal: Majority Minority by 2017 Met
“We hope to be a role model for other companies. If we can do it, other companies can too. A diverse board is important for two reasons. First, it better represents the company’s employees. Second, it improves the quality and thoughtfulness of decision making. We’ve been so thrilled with the quality of women and men of color that have been interested in joining. We’re planning on continuing the process.”
Noreen Doyle, Board Chair, Newmont
5 Women on Newmont Mining Board
“The case for diversity is clear: Boards with more women outperform in terms of profitability, governance and teamwork. It’s hard to imagine any team succeeding if every player brought the same skills to the field. The same is true of Boards. Diversity of thought, experience, background and gender creates the strongest possible leadership model for Newmont — it also helps us recruit the best and brightest from the broadest talent pool to run the business. Diversity and inclusion isn’t just a nice idea — it’s a business imperative.”
Kevin Wilson, CEO & President, Heska
3 Women on Heska Board
“It’s important to have a good representation of women on our Board because it is representative of our customers . . . 50% to 55% of companion pet vets are women. It’s encouraging just how effectively we’ve been able to identify top quality women candidates. . . . Having multiple women on our board has been important to our bottom line and candidly our whole entire operations.”