A new study, “Diversity and Tomorrow’s Profits: A Census of Women in Corporate Leadership,” intends to relate the frequency of female-held leadership positions within Wisconsin’s corporate world to that of top national and regional businesses.
The study is researched by Public Policy Forum and funded by Milwaukee Women, Inc.
“The mission of the study is to initiate a dialogue about the subject of [female diversity] in the corporate world, and not speak subjectively and anecdotally, but about facts,” said Sharon Canter, chairwoman of Milwaukee Women, Inc.
The initial facts of the study have assessed that female board members in Wisconsin’s 50 biggest companies stand at 9.3 percent, only a few below Chicago’s top 50 (11.6 percent) and Fortune 1000 companies (10.9 percent.) Women corporate officers in top Wisconsin businesses equal that of Chicago 50 (12 percent) and fall four percent short of Fortune 500.
Canter said obtaining credible numbers would show an accurate picture, or “hold a mirror,” of the corporate identity to decision-making leaders, and hopefully raise the questions regarding the diversity of leadership within their business communities.
Emily Van Dunk, research director at Public Policy Forum, indicated two distinct reactions to the study’s preliminary data. She said some people have been satisfied with the study’s results, due to their proximity to regional and national numbers.
However, she added that others have found the data appalling.
“Some have wondered, if half of college graduates in Wisconsin are women, why are there less than 10 percent of women in the [corporate] employment pool?” Van Dunk said.
So far, several analyses show the average age of women elected to board positions to be 54, and most of them had already attained a reputable status in previous jobs, implying that success does not occur early in a woman’s career, but rather as she becomes a more seasoned professional, she added.
Therefore, the study aims to direct graduating women away from roadblocks, and instead toward skills and degrees in the right field needed for a more rapid advancement of women in the corporate world.
Canter pointed out that changes in corporate diversity would hopefully be brought out by more of those competent and qualified women moving into positions of authority, serving as mentors to younger women entering the business world.
Patricia Mullins, senior lecturer at the University of Wisconsin’s School of Business, said she doubts the study’s results or any societal pressure would generate businesses to consider greater gender diversity; therefore, she pointed out, women need to find such mentors early on in their careers.
Mullins said many businesses excuse not hiring women due to their lack of experience, brought on by many women’s inability to find a mentor to nurture them to a position of natural growth and leadership.
“One man actually told me [he preferred] mentoring a man over a woman, because [he] saw [a younger self] in him and thus related to him better,” Mullins said.
She said it is still a challenge to get a male-dominated business world to recognize what a diverse workplace can bring to their company.
Mullins said women would attract more customers of both sexes by introducing new ideas and representing the female gender in the business community as well.
Nicole Harder, a UW junior and marketing major in UW’s business school, concurs.
“We need both sexes when marketing to both sexes, because dealing with consumers [requires] perspectives from more than one gender,” Harder said.
The study’s final results, to be completed in January, will include Wisconsin’s smaller and medium-sized companies, as well as bigger, privately owned companies.
