A recent study by Catalyst, the global nonprofit organization that examines women in the workplace, reveals that the best indicator of women in c-suite positions is the number of women on a company’s board of directors. As the study also noted, Fortune 500 companies with a higher percentage of female corporate directors and corporate officers on average financially outperform their counterparts.
“A gender-diverse board signals the right tone at the top and the importance that a company places on creating a successful work environment for all employees,” says Ilene Lang, president of Catalyst. Moreover, this study shows that what’s good for women is good for business. Simply put, more women on corporate boards correlate with more women in the c-suite and better financial performance—a real win/win for companies, shareholders, and talented women seeking companies that support their advancement.
For more information, go to Catalyst’s Advancing Women Leaders: The Connection Between Women Board Directors and Women Corporate Officers