Report: Women, Millennials Directly Tied to Business Success
Management consultant Development Dimensions International (DDI) and The Conference Board have released a new report, The Global Leadership Forecast (GLF) 2014 | 2015, Ready-Now Leaders: Meeting Tomorrow’s Business Challenges, where they discovered that companies with higher percentages of women in leadership roles perform better. The new research also shows a connection between the percentage of millennials a company has and its overall business success.
The new report is the seventh since DDI began this research in 1999, and it includes responses from more than 13,000 global leaders and more than 1,500 human resource executives within 2,031 participating organizations, from 48 countries representing 32 major industries.
“The findings clearly indicate that of the participating organizations, those in the top 20 percent of financial performance have 37 percent of their leaders as women and 12 percent of their leaders are high-potential women,” said Evan Sinar, Ph.D., DDI Chief Scientist, Center for Analytics and Behavioral Research (CABER) Director and study co-author. “Organizations in the bottom 20 percent count only 19 percent of their leaders as women, and 8 percent of their leaders as high-potential women.”
Report highlights include:
The report showed no differences in self-evaluated leadership competencies by gender. Although competency is equal, men surveyed tend to say they are more effective leaders overall than women.
Aggressive growth companies, those in high-tech industries for example, have a higher proportion of Millennials in leadership positions (30 percent) than organizations with cautious growth (25 percent) or no to low growth (21 percent). Also, companies that were more financially successful were more likely to have a higher percentage of Millennial leaders.
Organizations with high leader quality were six times more likely to be among the top 20 financial performers for all organizations. Organizations with both high levels of leadership quality and engagement and retention, were nine times more likely to outperform their peer companies.
To access the complete report, click here.