A large WSJ advert from Philip Morris International touts the standard "women = growth" myths:
https://partners.wsj.com/pmi/itstime/inclusion-and-diversity-strategies-arent-about-ticking-boxes-heres-why/
A 2019 report by the global consulting firm, Korn Ferry, shows that companies which increased their female representation in corporate leadership roles by up to a third also grew their profitability by as much as fifteen percent.
But the reference is not a study, but a white paper making claims without support:
https://infokf.kornferry.com/rs/494-VUC-482/images/KF_Gender_Pay_Fixing-gender-pay-divide_whitepaper_web.pdf
Championing women’s equality at work leads to...
Better corporate performance and stability.
Companies in the top quartile for gender diversity are 15% more likely to have financial returns above the median for their respective national industry.
Going from 0% to 30% women in corporate leadership is associated with a 15% increase in profitability. And companies with more diverse boards perform better during economic stress while female bosses make banks more stable.
(Ironically, the paper makes these claims in proximity to its own charts showing gender a negligible contributor to pay gap, once all other factors controlled.)
The Philip Morris advert continues:
And last year’s Global Leadership Forecast by DDI, a global leadership consultancy firm, highlighted that companies with at least 30 percent gender diversity overall—and more than 20 percent at senior level—outperformed their less-diverse peers in key leadership and business outcomes.
Then the advert makes yet another claim, pointing to a Mercer white paper which itself makes claims without support:
https://www.brinknews.com/delivering-diversity-balancing-for-better-in-asia/
What does this tell us? Simply put: The link between gender diversity and better results today is undeniable. Yet the speed with which organizations are embracing this trend shaping leadership is far from uniform. For instance, in parts of Asia, some people view inclusion and diversity (I&D) efforts as a Western concept. Yet research conducted in the region by consultancy firm, Mercer, found that employees who are thriving at work are seven times more likely to work for a company committed to gender pay equity and equal opportunities.
Mercer then joins the diversity-and-inclusion industry:
https://www.mercer.com/our-thinking/when-women-thrive.html
Of course, Googling "gender company growth" produces millions of entries claiming more women = more profits. Yet even highly-reputed sources seem to mistake correlation for causality, as I argued here:
https://www.reddit.com/r/MensRights/comments/4seniz/potential_refutation_of_women_company_growth/
Even the OECD gets into the act (from the above Google scan):
https://www.norden.org/en/news/new-oecd-report-nordic-gender-equality-boosts-gdp-growth
http://www.oecd.org/els/emp/last-mile-longest-gender-nordic-countries-brief.pdf
I need to do further research but wonder whether any of these "studies" asks a pertinent question from basic economic supply-and-demand: Does increasing the labour pool (by adding women) drive down wages?
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Several years ago an automated market analytics AI noted the correlation between a higher fraction of female employees in management and increased market performance.
Due to having greater freedom of choice in terms of work/life balance, women serve as a "canary in the coal mine" for poor management, workplace environment, and worker morale. A less visible and harder to measure indicator is that top-performing employees decide they don't have to put up with that shit, either, and jump ship as well. Essentially, companies that recognized employee achievements and contributions, promoted internally on the basis of merit and not office politics, and generally showed that they valued workers for their individual work tended to retain high performing employees and thus had better market performance. That this also cut down attrition of female employees, thus allowing qualified individuals to accumulate the work experience, et al.to be promoted into management, was a secondary effect, but much more visible and easy to measure.
But you had to pay the market research company to get that more detailed level of analysis of the observed correlation. Predictably, most of the news articles written about the AI generated synopsis didn't bother to spring for the detailed report, so a woozle was born that having women in management improves company performance.
So many companies have been working tirelessly to boost their numbers on this particular metric. Which is ironic, since promoting an employee based on the shape of their genitals would be the exact opposite of the sort of good management practices that actually underlies the original correlation. But markets are prone to fashion trends and data fetishism, so for a while pumping up your numbers would attract investors and your market performance would appear to confirm the woozle.
After a while those brittle gains shattered and, I think, currently the explanation is that the reason companies no longer experience the performance boost you're supposed to get by promoting employees on the basis of the shape of their genitals rather than their individual performance is that the people who were promoted on the basis of having a vagina are too young and inexperienced and that companies need to put EVEN MORE focus on promoting women over men at even the lowest levels to avoid this "pipeline failure".
It's kind of interesting to see how far this will go before it all comes crashing down.
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