Construction Executive - September 2016 - 22

WORKFORCE Paving the Way for Female Leaders BY MARCIA MUELLER CONSTRUCTION EXECUTIVE | SEPTEMBER 2016 T 22 oday, women face immense career opportunities and challenges. Catalyst research on S&P 500 companies shows that despite representing 45 percent of the total workforce, women occupy less than 25 percent of board or C-suite positions. Based on this breakdown, it's clear that women's career advancement possibilities and their current reality vastly differ. In the construction industry, the numbers are even bleaker. Women represent 9 percent of the construction workforce, according to the Bureau of Labor Statistics. Not only are women not reaching senior-level positions, but they're not entering the industry in the first place. There are key things maledominated industries like construction can do to address the gender imbalance, provide advancement opportunities for female talent and drive a more diverse workforce. The need to do so is more critical than some realize. The Power of Three Research illustrates that having three or more women in leadership roles delivers substantial gains for business. Credit Suisse's study of 28,000 executives at 3,000 companies across 40 countries demonstrates that companies with 10 percent greater representation of women in top operational jobs achieve 27 percent higher return on equity and 42 percent higher ratio of dividend payouts. In addition, a Catalyst report CEOs 4% CEO BOARD SEATS 19.2% Board SENIOR-LEVEL MANAGERS 25.1% Exec/Senior 1st Level Managers MID-LEVEL MANAGERS 36.8% Labor Force S&P 500 LABOR FORCE 45% Women in S&P 500 Companies, New York: Catalyst, Feb. 3, 2016. found that companies with a high representation of women in boardlevel roles for an extended period of time outperform their competition and increase return on sales by 84 percent, return on invested capital by 60 percent and return on equity by 46 percent. European countries aren't hoping women will receive more leadership opportunities; they are mandating it. For example, Germany passed a law that requires companies to increase the number of women on corporate boards to 30 percent beginning in 2016. When the law was passed, women held fewer than 20 percent of corporate board seats. Competency Isn't a Problem Lack of skills is not the reason women are underrepresented in leadership roles. Jack Zenger and Joseph Folkman, hosts of "The Extraordinary Leader" workshop, surveyed 7,280 leaders on 16 leadership characteristics, asking them to rate male and female leaders in each category. They found women outscored men in 12 of the 16 leadership competencies. Two categories where women outscored men the most were taking initiative and driving for results. Zenger and Folkman noted, "At every leadership level, more women were rated by their peers, their bosses, their direct reports and their other associates as better overall leaders than their male counterparts-and the higher the level, the wider that gap grows." Women are just as capable of leading divisions and guiding product innovation as their male counterparts; however, some are not speaking up or gaining the visibility to connect them to their next opportunity.

Table of Contents for the Digital Edition of Construction Executive - September 2016

Industry Insider
In Brief
Washington Update
Construction Markets
Risk
Safety
Workforce
No Bounds to Success
Special Section: Construction Technology
Business Development
Community Outreach
Viewpoints
Construction Executive - September 2016 - Cover1
Construction Executive - September 2016 - Cover2
Construction Executive - September 2016 - 1
Construction Executive - September 2016 - 2
Construction Executive - September 2016 - 3
Construction Executive - September 2016 - 4
Construction Executive - September 2016 - 5
Construction Executive - September 2016 - Industry Insider
Construction Executive - September 2016 - 7
Construction Executive - September 2016 - In Brief
Construction Executive - September 2016 - 9
Construction Executive - September 2016 - Washington Update
Construction Executive - September 2016 - 11
Construction Executive - September 2016 - Construction Markets
Construction Executive - September 2016 - 13
Construction Executive - September 2016 - 14
Construction Executive - September 2016 - 15
Construction Executive - September 2016 - Risk
Construction Executive - September 2016 - 17
Construction Executive - September 2016 - 18
Construction Executive - September 2016 - 19
Construction Executive - September 2016 - Safety
Construction Executive - September 2016 - 21
Construction Executive - September 2016 - Workforce
Construction Executive - September 2016 - 23
Construction Executive - September 2016 - 24
Construction Executive - September 2016 - 25
Construction Executive - September 2016 - No Bounds to Success
Construction Executive - September 2016 - 27
Construction Executive - September 2016 - 28
Construction Executive - September 2016 - 29
Construction Executive - September 2016 - 30
Construction Executive - September 2016 - 31
Construction Executive - September 2016 - 32
Construction Executive - September 2016 - 33
Construction Executive - September 2016 - 34
Construction Executive - September 2016 - 35
Construction Executive - September 2016 - 36
Construction Executive - September 2016 - 37
Construction Executive - September 2016 - 38
Construction Executive - September 2016 - Special Section: Construction Technology
Construction Executive - September 2016 - 40
Construction Executive - September 2016 - 41
Construction Executive - September 2016 - 42
Construction Executive - September 2016 - 43
Construction Executive - September 2016 - 44
Construction Executive - September 2016 - 45
Construction Executive - September 2016 - 46
Construction Executive - September 2016 - 47
Construction Executive - September 2016 - 48
Construction Executive - September 2016 - 49
Construction Executive - September 2016 - 50
Construction Executive - September 2016 - 51
Construction Executive - September 2016 - 52
Construction Executive - September 2016 - 53
Construction Executive - September 2016 - 54
Construction Executive - September 2016 - 55
Construction Executive - September 2016 - 56
Construction Executive - September 2016 - 57
Construction Executive - September 2016 - 58
Construction Executive - September 2016 - 59
Construction Executive - September 2016 - 60
Construction Executive - September 2016 - 61
Construction Executive - September 2016 - 62
Construction Executive - September 2016 - 63
Construction Executive - September 2016 - 64
Construction Executive - September 2016 - 65
Construction Executive - September 2016 - 66
Construction Executive - September 2016 - 67
Construction Executive - September 2016 - Business Development
Construction Executive - September 2016 - 69
Construction Executive - September 2016 - 70
Construction Executive - September 2016 - 71
Construction Executive - September 2016 - Community Outreach
Construction Executive - September 2016 - 73
Construction Executive - September 2016 - Viewpoints
Construction Executive - September 2016 - 75
Construction Executive - September 2016 - 76
Construction Executive - September 2016 - Cover3
Construction Executive - September 2016 - Cover4
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