In a report released by everywoman, the United Kingdom is suffering from a lack of women in senior management positions. Despite efforts to promote and advance women in high profile positions, “progress is worryingly slow with 36% of British businesses recording no women in senior management roles at an estimated cost of £23 billion to the UK economy.”
Karen Gill, co-founder of everywomen explains that “research shows that when women have access to role models and learning opportunities they develop faster and further along the talent pipeline. It confirms that it is possible to show a return on investment for committing to engaging, retaining and advancing female employees.”
Gender retention is key, with many studies revealing an increase in a corporations diversity leads to an increase in profits. The everywomen report highlights the benefits of women in business and the hidden cost of high turnover.
In the end, “everywoman calls on businesses to implement three key recommendations in response to the report:"
- Ensure leadership teams are visibly committed to achieving gender parity
- Establish initiatives to drive mentoring and champion role models across the business
- Develop a solid business case demonstrating a clear return on investment and measure on-going success