Automotive News Europe - October 2016 - Leading Women - 7

DELOITTE RESEARCH Leading by example From left to right: Vanessa Borchers is the Global Clients & Industries leader for DTTL and also serves on the DTTL Executive Committee. Dr. Elisabeth Dension is the Chief Strategy & Talent Officer for Deloitte Germany and the talent leader for the EMEA region. Cathy Engelbert assumed office as the CEO of Deloitte LLP in March, 2015, becoming the first female CEO of a major audit and consulting firm in the U.S. Janet Foutty became chairman and CEO of Deloitte Consulting LLP on January 1, 2016. perspectives in decision-making (45 percent) and, improved financial performance (28 percent) as the top positive benefits. Foster growth programs and sponsorships - Women indicated "identifying and increasing the visibility of key leaders who serve as role models for employees" as the most impactful programs a company can have to pave the way for attracting and retaining women. In fact, sponsorship can be an important factor in creating a culture that promotes a pay-it-forward mindset, which is instrumental to identifying and developing current and future leaders. A sponsor advocates for an individual and undertakes responsibility for that person's development and professional progression. In addition, a sponsor's role should extend beyond mentoring and coaching to being a vocal advocate, thereby enhancing their sponsoree's presence in the organization. Create a more flexible work environment - Flexible work practice is one of the top-ranked impactful programs by women in the study. Work-life balance, or the perceived lack thereof in automotive, may be another factor deterring women from the industry. It is essential for automotive companies to focus on longer-term issues of workforce capability, as well as the shorter-term imperatives of staying in business. Develop Europe's automotive workforce early - Recruitment into the automotive industry should begin early, which is underscored by only 21 percent of respondents believing the school sys- 2016 Exclusive Sponsor: tem actively encourages female students to pursue careers in the European automotive industry and 36 percent believing they do not at all encourage females to pursue careers in automotive. Promote personal development - With women ranking opportunities for challenging and interesting assignments as a top motivator for staying in the automotive industry - along with identifying and increasing the visibility of key leaders who serve as role models for employees as one of the most impactful retention strategies - it stands to reason investment in personal development can continue to build retention and advancement of women. Create a legacy - Women are having such an important mark on the automotive industry today that there is now an opportunity to shape a legacy that can long impact the industry and create a strong foundation for tomorrow's leaders. Progress often requires improvements across all of the recommendations listed above, as well as the creation of programs, such as the Automotive News Leading Women Network, which can help ensure mentoring and encouragement of young women, as well as ensuring the stories of success and contribution women make to the global automotive industry continue to be told. n About the Leading Women research A utomotive News Group and Deloitte have been examining the attraction, retention and development of women in the automotive industry for more than a decade. This survey and the North American survey fielded in the fall of 2015 represent the latest findings from the Leading Women research effort. In addition to surveys, roundtables and interviews conducted to support the research, Automotive News Group and Deloitte also celebrate the most influential women in the North American and European automotive industries. In North America, the two organizations have also worked together to help establish the Leading Women's Network, a program designed to connect women in the industry with each other, and to connect them to young women interested in automotive careers. To learn more, visit www.deloitte.com/womeninauto. www.autonewseurope.com 7 http://www.deloitte.com/womeninauto http://www.autonewseurope.com

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