Name: Insights: Companies Must Strive for Gender Parity to Get Even Close
Uploaded: 2020-01-21
Duration: 2 min 20 s
Description: If businesses strive for 50% gender equality in the workforce, it's more likely to hit 30% or 40%. (September 2019)

[MUSIC PLAYING] If we don't aim for parity, we won't even get close. And so if we aim for 50%-- [APPLAUSE] --or 40%, we might just hit 30%. I remember when the 30% club, which was founded in the UK-- and we were one of the co-founders of the first one. And we debated, is it 30% club or 50% club? Should we be calling it the 50% club? And now we need to-- Interesting. I wish we could go back and change the name to 50%. And the reason why is because if we can get to 30%, that's still 4 plus times 7 and 1/2. So big ambitious, clear, stretch targets that you can see from space are very important, I think, to even get near the neighborhood. The second thing is you see big differences in companies in their middle management and down pipeline. And by that, I mean only about 20% of companies in our Women in the Workplace as well as Diversity Matters data set are making progress on gender and other aspects of multivariate diversity. About 60% of them are what we call resting on their laurels or treading water. And that requires you getting into pipeline management and sponsorship right at that level, late 20s, early 30s, so that women who do have a broader range of interests who may want to choose from a wider range of options and choices who will have a chapter around care, or two or three, and you want them to still choose your company. And so you can do something about that systemically. When we implemented like a flexi working take time initiative in our office in the UK and now globally at McKinsey, 60% of the participants were men, but it disproportionately helped us retain women. So I just would say do not let your companies or yourself off the hook. You are senior leaders in this room. You do not have to feel any shade, as the kids say, about being the one who raises your finger and say, have we looked at this analytically? Are we following-- what is our data telling us? Because the data is pretty clear that it's correlated with higher performance and better outcomes, higher participation of women and diversity more generally. And it's also pretty clear that some companies are moving forward, and some companies just aren't. I'd encourage us to be bold. [MUSIC PLAYING] 

Insights: Companies Must Strive for Gender Parity to Get Even Close

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Businesses will hopefully get close to 30%-40%. 

Companies Must Strive for Gender Parity to Get Even Close

If businesses strive for 50% gender equality in the workforce, it's more likely to hit 30% or 40%. (September 2019)

way, don't aim for parity. We won't even get close. And so we aim for 50% for 40%. We might just hit 30 you know, I remember when 30% club was mounted in the UK and we were one of the co founders of the 1st 1 and we debated, is that 30% club or 50% club would be calling it a 50% club. And now we need to. I wish we could go back and change the name to 50%. And the reason why is because if we can get to 30% that's still four plus times seven and 1/2. So big, ambitious, clear stretch targets that you can see from space are very important, I think, even get near the neighborhood. The second thing is you see big differences and companies in their middle management and down pipeline, and by that I mean on Lee. About 20% of companies in our women in the workplace as well as diversity manners data set, are making progress on gender and other aspect of multi various diversity. About 60% of them are what we call resting on their laurels or treading water. And that requires you getting into pipeline management sponsorship right at that level late twenties, early thirties, so that women who do have a broader range of interest who may want to choose from a wider range of options and choices who will have a chapter around care for two or three and you want them to still choose your company. And so you can do something about that systemically when we implement it like a flexi working take time initiative in our our office in the U. K. And now globally at McKinsey. 60% of the participants are men, but it disproportionately helped us retain women. So I just would say, Do not let your company's or yourself off the hook. You're senior leaders in this room. You do not have to feel any shade as the kids say about being the one who raises your finger and say, You know, have we looked at this analytically? Are we following? What is our data telling us? Because the data is pretty clear. That is correlated with higher performance, a better outcome. Aim higher participation of women and diversity more generally. And it's also pretty clear that some companies air moving forward and some companies just aren't might encourage us to be bold