Making a genuine gender difference

It is one of the enduring paradoxes of working life: Advancing women in business life seems common-sense but in practice appears to flounder and not make the headway we all expect. The reasons for this were a topic of discussion at the recent OECD Gender Forum – Closing the Gender Gap: Act Now, where I joined a distinguished group of participants, including government and business leaders. It was clear from our discussion that challenges remain.

Take diversity for example. Deloitte Australia has recently carried out ground-breaking research (“Waiter, is that inclusion in my soup?”) in the manufacturing, retail, and healthcare sectors. When modelling the relationship among diversity, inclusion and business performance, the research found that when both diversity and inclusion were high, there was an uplift of some 80 percent in perceptions of business performance. Buoyed by these results, the research was widened to include customer service, innovation and engagement. And the same thing happened: Perceptions of business outcomes are always significantly higher with high diversity and high inclusion. Another finding was that where employees perceive their organization is committed to and supportive of diversity, and where employees feel included, they are 80 percent more likely to believe they work in a high-performing organisation.

Bringing female perspectives in the boardroom – Challenges in Japan

I have the honor to attend the World Economic Forum in Davos as one of the five representatives from Deloitte this again year. Deloitte LLP, the U.S. member firm, was the first professional firm that launched an initiative for the retention and advancement of women in the United States. Started in 1993, the Women’s Initiative changed the firm culture to retain and advance female professionals with leaders’ solid commitment.

Within 20 years, the U.S. firm achieved quite a number of goals: closing the gender gap in retention and promotion (female partner ratio from 7% to 23% and female board member from 1% to 30%). This was, of course, a turbulent journey, but does prove that we can make it happen if we believe in it.

Can innovation be underpinning a Manufacturing Renaissance?

I had the privilege of speaking a few weeks back at the Australian Industry Group National Forum, the premier industry event which is held annually at Parliament House in Canberra, Australia. More than 350 CEOs, senior executives, and government officials listened to an array of local and international speakers address some of the major issues and big ideas on Australia’s national agenda together with strategies to improve the industry competitiveness. It was quite an honor to be invited to participate in this session.

During my presentation, which was featured in ABC TV’s The Business program (see video clip) I shared perspectives of how innovation is at the heart of what some are calling a “Manufacturing Renaissance” or an industry revival. Often overlooked as a place for innovation, manufacturing continues to be on the leading edge of innovation. You just have to look at the bold innovation plays that are happening today in areas such as advanced materials systems, additive manufacturing, and sustainable mobility.

Share and share unalike

Simon Holland, Global Head of Strategic Change & Organizational Transformation, looks at how perceptions of leadership influence stock market analysts

Want a premium rating from financial analysts? Don’t just focus on the bottom line. Think about sustainable leadership

• “A company should not only seek short-term profit, but should always have long-term vision and seek to contribute to society.”
• "I look for senior managers who work collectively well—teams rather than superheroes.”
• "There are many different types of leader, and I wouldn’t ascribe any one trait over another … If I had to name just one, I would say the ability to recognize their own weaknesses and supplement those with other people … Building up the senior leadership team’s confidence allows the strategy to be implemented effectively, and improves the execution.”
• “I don’t view financial performance as that important because I think it is only a result.”

An 8,500 mile journey to the other side of the world

A couple of weeks ago, I took an interesting trip to Chennai, India. In advance of my trip, one of my clients pointed out that if you drew a straight line through the center of the earth departing from my home city of Milwaukee in the United States, to the other end of the earth – some 8,500 miles away – it would take you to Chennai. So it goes to say that it was certainly a long airplane ride.

In preparing for my first trip to Chennai, I learned that the city is actually known as the Detroit of Asia. A number of global automobile manufacturers (OEMs and suppliers) have set up operations there to serve the domestic market and also use it as an export base given the fact that Chennai is the second largest port in India. As a result, Chennai has become a significant manufacturing hub for India. Complementing this manufacturing focus, the city is also known for its extensive engineering and technology talent. As I met with a number of executives it was apparent that an increasing number of manufacturers are relying on the engineering talent in Chennai to design the products produced there.

Reflecting on 'the business case for women’s economic empowerment' workshop

The recent joint workshop on the business case for women’s economic empowerment which I chaired at the Organisation for Economic Co-operation and Development (OECD) in Paris was, I hope, another small step to integrating women’s experiences, perspectives, and voices into the fabric of our organizations, systems, and societies. Over 120 experts from around the world had gathered, including the U.S. Ambassador to the OECD and the OECD Deputy Secretary General, and representatives of business, government, and investor communities.

It was a joint meeting between the OECD; BIAC, the Business and Industry Advisory Committee to the OECD; and the American Chamber of Commerce in France and the aim of the day was to provide a business perspective and best practice experience to the OECD’s Gender Initiative. A report on the shared ideas will go forward to the 2012 OECD Ministerial and Forum to be held in May.

The levels of engagement in the discussion reflected just how important an issue this is for many, and for many reasons. What was being discussed didn’t seem to be mostly about the research and the data. It was much more grounded in common-sense and shared experience. Several people mentioned President Obama’s recent remarks on the subject and used them as their starting point. He had said that what we are talking about when we talk of women taking a much greater place in the economic structure is very simply that we want the same opportunities for our daughters as we want for our sons. Put like that the issue becomes very simple and almost unarguable.

Once more with feeling

In his second blog of 2012, Simon Holland, Global Head of Strategic Change and Organizational Transformation, explains why making emotional connections with people is one of the hallmarks of great leadership

Emotions have always been a business taboo. It’s time to redress the balance. Feelings not facts move people to action when implementing decisions

It’s Valentine’s Day and my thoughts are turning inevitably to warm and fuzzy things: feelings and relationships. However, my inspiration for this month’s blog is not Saint Valentine himself, but some of the most eminent leaders on both sides of the Atlantic.

A couple of books, The Corner Office and The Language of Leaders, have been brought to my attention. The former is by Pulitzer prize-winning American journalist Adam Bryant; the latter by communications expert Kevin Murray, a South African who’s spent most of his working life in Britain. They’re both based on transcripts of interviews with leaders, many of them big names, and they offer some strikingly similar lessons. Chief among them is this: the soft stuff matters—and it matters hugely. Leaders who don’t understand people and know how to communicate with them are lost. Business, as Jeff Swartz of Timberland reminds us in The Corner Office, is personal.

Harnessing the potential of women in the workforce

I have just spent a fascinating week at the World Economic Forum in Davos, Switzerland. The theme for 2012, The Great Transformation: Shaping New Models, covered several topics such as shifts of geopolitical and geo-economic power, multiculturalism, technological innovation, and job creation. For example, academics and business leaders put forth the idea of job creation that focuses on the hundreds of millions of people that will enter the job market in the next decade. Businesses that will gain a competitive advantage in the future will be those that focus on talent by fostering entrepreneurial risk-taking and achieving true gender equality.

Against this backdrop of gender equality discussions, one of the highlights of the week for me was the Gender Parity session on Friday. As the leader of the Japanese Financial Services Industry practice at Deloitte Japan and the first female represented on the Deloitte Japan Executive Board, I am passionate about shaping employment and leadership opportunities for women. I had the privilege of talking to leaders from around the world in this interactive workshop about their experiences, and how to improve opportunities and career paths for women leaders in the future.

Optimistic in an uncertain world

Last year, I described my Davos experience as being like going to Disneyland but not being allowed to try the rides. This year, attending as a delegate for the first time, gave me an Alpine rollercoaster experience – from the highs of meeting and hearing from inspirational innovators, entrepreneurs and experts in their fields, to the lows of some sobering economic debates.

The World Economic Forum has typically contained an element of future gazing – what is the 5-10 year outlook for business and society? This year, there was a much more short term feel, with a strong focus on solving the Eurozone crisis. Perhaps unsurprising, given the presence of Angela Merkel, David Cameron, and numerous finance leaders.

Davos is a great opportunity for me to spend time with the CEOs of our member firm clients, and to get a good sense of the latest thinking of political leaders, finance leaders, and regulators. It’s also a real opportunity to hear from experts in fields I wouldn’t normally hear from, for example, on the future of medicine. This broader agenda is not only personally interesting, but gives me new perspectives and challenges my thinking.

Business leaders and ‘Millennials’ agree – the purpose of business is more than just profit

The 2012 Annual Meeting of the World Economic Forum opened today in Davos-Klosters, Switzerland. Being here in Davos is exhilarating and inspiring – and the time always flies by so quickly.

One of the highlights of the day for me was taking part in a panel discussion chaired by London Business School professor Lynda Gratton. We discussed how the art and science of leadership are fundamentally changing in the 21st century. Another highlight today was helping lead discussion with other Forum delegates in a brainstorming session on the topic of the role of business in society.

These are subjects I feel strongly about. Earlier this week, Deloitte announced the results of a global survey, conducted by the Economist Intelligence Unit (EIU), of business leaders’ attitudes on the purpose, impact, and leadership of business on society.