Caterpillar: Advancing Women Leaders - Part 1 of 2
With Deborah Rocco
Is gender diversity profitable? The answer is a resounding yes, according to a new report from the Petersen Institute for International Economics. The study, released on Monday, February 8 and picked up by The New York Times, features data from 22,000 publicly traded companies in 91 countries.
Petersen collaborated on the study with EY, the audit firm formerly known as Ernst & Young. The findings show that having women in the highest positions directly correlates to greater profitability. According to the data, increasing the number of women leaders from zero to 30 percent correlates with a 15 percent increase in profits.
But here’s the rub: More than half of the companies surveyed have no female executives – and just under 5 percent have a woman chief executive.
Caterpillar is one company that is actively involved addressing gender issues -- work that includes a major initiative focused on advancing women leaders. We are honored to call Caterpillar a client and pleased to feature the company's work around gender diversity in this first of two LeaderLens podcasts.