Between 2002 and 2007, women's income (globally) increased by
nearly $4 trillion to $9.8 trillion. By 2017, women's income will jump by
almost $6 trillion to $15.6 trillion. This could be one of the biggest and most
exciting new markets and it seems that women can make all the difference in the world.
Despite this jump, across industry and nations, women are
underrepresented in leadership positions and boards. Diversity allows for wider perspectives,
better strategies for growth, greater
understanding of stakeholders and customer base and hence effective
management of risk.
While many board members say that they want more female
representation, there undoubtedly are challenges. These include a low candidate
pool and few qualified and experience women candidates. However with
appropriate mentoring and support systems women can be prepared and enabled for
higher positions. Targeting talented women for promotion and providing active
sponsorship programs for women also help increase the future supply of talented
female director candidates.
Women are a powerful resource and
propelling women forward can bring positive change to the global economy.
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