Feminomics - A New Perspective on Leadership

Feminomics A new perspective on leadership

The unbalanced leadership behind the economic crisis – and how we need to re-balance

www.greenwellfuture.com

“We can’t solve problems

by using the same kind of thinking that

created them.”


Some people say the economic crisis was man-made


Or a product of… masculine values

• Money/ things • Work • Economic growth • Big and fast• Single-minded• Decisive

rather than feminine?

• People/relationships• Life• Sustainability• Small and slow • Reflective • Consensual


Taboo?

Gender is a taboo topic in some countries…But if we ignore gender as an issue we miss it as an opportunity www.greenwellfuture.com

Feeling Comfortable?

How do our institutions look?


Banks• Sexist?• Reckless?• Influential?


Influential? • UK financial services sector 2007

– 1.3million jobs – 4% of the workforce.

– Over a quarter of UK Corporation Tax

• Held up as an ‘exemplar’ industry by government

– Bankers appointed to advisory and ministerial posts

– Wealth didn’t trickle down but attitudes and aspiration did


Sexist?

Women earn 55% less than male counterparts – the largest pay gap of any UK industry.

Pay gap is just as wide for new recruits

Female bonuses just 1/5 of male counterparts

Stereotypical roles. Sexism is rife – overt and insidious.


Reckless?

Group Think The Winner Effect



Still Influential…

ECONOMISTS“Why did no-one see the recession coming?”

Erm…1.Silo thinking2.Focus on wealth and financial innovation at the expense of other human concerns3.Reduced the world to mathematical formulae 4.Lacked imagination!


GOVERNMENT


Spot the woman… !

Business • One eighth – the proportion of women in top company boards

• It’s also a WEDGE…in almost every industry the number of women drops as salaries and seniority rise.

• Women who make it to the top are less likely to have children and often have to absorb male culture to make it

• More women who want to succeed in business on their own terms are starting businesses


Women entrepreneurs changing the rules

• More innovative and ambitious• Strong ethical values• Risk aware with long-term vision

But•Don’t fit models of business support and finance•Win less than 5% of contracts •Less senior experience and contacts

Those who get past those road blocks are now the UK’s fastest growing group of millionaires


Imagine…

If we had institutions and policies which worked with women rather

than shoe-horning them into a male model?


ALTERNATIVES…


Values

“Over 2/3 of people around the world think the global economic crisis is a crisis of ethical values”

DAVOS 2010

So far that’s led to…


• Iceland –most equal country in the world and the worst hit by the crisis• Gender is a key part of their response

– Rebalancing - Government & banks are now headed by women– The new constitution was crowd-sourced.

Real change


Sound principles for banking and for business?

Audur Capital flourished during the crisisBased on feminine values: • Long term• Values driven• Empowering customers

Like German Landesbank (70% of market) and community banking everywhere…

Economics What’s measured matters…


GDP is our top strategic driver

It positively values air pollution, accidents, war, consumerism…

It ignores quality of life - health, education, care, environmental sustainability and unpaid work.

In 2011 the EU passed a resolution supporting the implementation of alternatives to GDP

Growth and wellbeing


Leadership


• From World leaders down… the pattern of top leadership:

Spot the woman Spot the gender wedge

• Numbers matter – we need a critical mass of at least 30% women to change culture

The business case for balance• Mitigation of group think and excessive risk taking• Gender balanced teams perform better• Companies with more gender balanced Boards

perform better on every measure, including financial

• “Forget China, India and the internet: economic growth is driven by women”


What’s stopping us?

• The myth that there are not enough qualified women?

• Fixing the woman not the system• Unconscious bias. They couldn’t find

enough ‘good women’ for orchestras until auditions were held behind screens!

• Stereotyping – outside and internal…


Feminomics

1. Balanced leadership

2. Smart growth

3. Sustainable finance and business

4. Beyond stereotypes

Balance is Best – for People, Planet and Profit


This presentation forms part of a great leadership event for women and men. Get in touch for more details

Erika Watson [email protected]


Photo creditsStock XchngMike Legend andGene Hunt cc via Flickr