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The Female CEOReputation Premium? Differences & Similarities
The benefit of promoting greater gender diversity in the C-Suite is generally acknowledged by both men and women. According to a report from Catalyst, companies with higher female representation in top management deliver 34% greater returns to shareholders than those with lesser representation. Gender diversity is thus good for women, good for companies and good for business. 2
All well and good. But how female leadership impacts CEO and corporate reputation still remains largely unexplored, so Weber Shandwick decided to traverse this terrain by mining global research we recently completed about CEO reputation overall. What do female CEOs bring to a company’s reputation that is different from their male counterparts, and how do these differences affect how a company is perceived? This is the focus of our new report, The Female CEO Reputation Premium? Differences & Similarities. 3
What we did 4
How we did it The Female CEO Reputation Premium is a supplement to The CEO Reputation Premium: Gaining Advantage in the Engagement Era. Conducted with KRC Research, it was released in March 2015 and is based on more than 1,750 executives in large-sized companies ($US 500 million +) in 19 markets around the world. The large sample size of our study allowed us to segment our sample into two groups – those executives with a male CEO and those with a female CEO. The insights we share and conclusions we draw are based on a comparison of these two groups of respondents. 5
What we learned 6
Source: The CEO Reputation Premium: Gaining Advantage in the Engagement Era, Weber Shandwick & KRC Research, 2015 First, a refresher: CEO reputation matters
6 insights revealed Corporate and CEO Reputations are Gender-Blind Gender-Based CEO Leadership Qualities? Not So Much Female vs. Male CEO Visibility is More Than Media-Hype The Number of Female CEOs is Vastly Overestimated The CEO Pipeline has a Gender Bender How to Attract More Women CEO-Aspirers: Make Reputation Count! 8
Corporate and CEO reputations are gender-blind 1 “ “
Gender-based CEO leadership qualities? Not so much 2 Which words or phrases best describe your CEO?
Female CEOs are more likely to proactively engage external audiences. Female vs. male CEO visibility is more than media-hype “comfortable talking to the news media” “participating in social media” 3 more willing to talk with the news media than he/she was a few years ago.” CEO IS DESCRIBED AS BY EXECUTIVES “MY CEO IS (% EXECUTIVES AGREE) CEO IS DESCRIBED AS BY EXECUTIVES
12% of global businesses have either a female CEO or Managing Director Global senior executives estimate that 23% of large companies have a female CEO The number of female CEOs is vastly overestimated 23% Perception Reality 5% of CEOs running U.S. Fortune 1000 companies are women Women run 4% of FTSE 100 companies (The Grant Thornton International Business Report survey) 4
Female executives are significantly less likely than male executives to be interested in becoming CEO one day. 5 The CEO pipeline has a gender bender Would you personally ever want to be the top leader of a large company? (Global executives) Indicates significant difference between genders Female executives Male executives Percentages may not add up to 100% because of decimal rounding 13
Who wants to be a CEO? Millennials GenXers Boomers GENERATION CEO GENDER COMPANY OWNERSHIP Public Private Other Male Female Percentages may not add to 100% because of decimal rounding *Respondents were allowed to select more than one industry Women who aspire to CEO are more likely than male aspirers to be Millennial, have a woman CEO and to be employed in privately-held companies.
NORTH AMERICA 9% EUROPE 22% ASIA PACIFIC 27% BRAZIL 34%* Who wants to be a CEO? CEO aspirations among women vary widely by geographic region. *Small sample size
6 How to attract more women CEO-aspirers: make reputation count! Good reputations matter more to women. 16
CEO reputation matters even more to women when the CEO is a woman
How to be a CEO who women executives want to work for Top-ranked characteristics of highly regarded CEOs According to male executives According to female executives
For more information about The Female CEO Reputation Premium? Differences & Similarities, contact: Micho Spring Chair, Global Corporate Practice Weber Shandwick firstname.lastname@example.org Carol Ballock EVP, Executive Equity & Engagement Lead Weber Shandwick email@example.com #ceoreputation 19 Leslie Gaines-Ross Chief Reputation Strategist Weber Shandwick firstname.lastname@example.org