Diversity makes a difference, see the latest research by WOB (Women on Boards). Article By Claire Braund on 17 February 2012 in the Australian Mining Magazine and Shared by Dorothy Jakab and 1 more in WOB Women on Boards via LinkedIn.
The article notes some important statistics which make a strong case for an increase in women’s representation on boards and leadership positions;
“In 2004 the US-based non-profit organisation Catalyst created the link between female board directors and corporate performance in its report ‘The Bottom Line: Corporate Performance and Women’s Representation of Boards’.
The report found higher financial performance for companies with higher representation of women board directors in three important measures – return on equity, return on sales and return on invested capital.
Fast forward to Australia in October 2011 and the non-profit research organisation Reibey Institute found that over three and five year periods, ASX500 companies with women directors delivered significantly higher return on equity (ROE) than those companies without any women on their boards.
In between 2004 and 2011 there were a number of significant studies and reports successfully prosecuting the business case for recruiting and retaining women into senior leadership roles and onto boards.”
The article further discusses the need for a full utilisation of all human resources, male and female in reference to the current resource shortage in the Australian Mining Industry where good resources are hard to come by.
“In Australia, this will require a significant shift in corporate culture and in the attitudes and behavior of many who occupy positions of power.
The mining sector is a dominant player in the Australian economy with major human resource demands. Surely, of all sectors it should be the one that understands the importance of a fully deployed labour force and the business benefits that diversity brings?”
Economically, Gender Diversity makes sense.
References: Australian Mining Magazine