Notwithstanding different regulations such as quotas, companies themselves have learned that gender diversity helps them achieve better results. Various scientific studies, at the university level and in various consulting and accounting firms, have begun examining this topic over the past 3 years. One of the most recognised is the Peterson Institute for International Economics in Washington, which surveyed nearly 22,000 publicly-traded companies from 91 countries around the world. Publicly-traded companies are obliged to report their financial statements together with a named list of executive management.

The Peterson Institute determined that there was a strong correlation between higher numbers of women on boards and in executive positions and better profit performance. Just having a female CEO did not have a tangible impact according to the study; it is much more important to have a kind of chain of female leaders who are present at all levels of management.

The same findings were transposed into specific figures by the consulting firm Morgan Stanley, which also studied the earnings of publicly-listed companies. Its study confirmed that companies with higher gender diversity in top management achieve better returns on net assets.

Today one of the top priorities of many international firms is increasing the proportion of women in top management and at all levels of management. Among the primary benefits are a mix of skills that improve competitiveness. Today the representation of women in company management is commonly used by investors as one of the indicators to evaluate companies, as it is an indicator of a “healthy” company. The same can be said about corporate social responsibility and the level of advancement and openness of corporate culture.

Gender diversity supports the quality of group decision making, encourages productivity growth and improves innovation. Mixed teams simply work better, which improves employee engagement and satisfaction and has a direct impact on the quality of products and services. Last but not least, this is a key component in building the company’s reputation and sends a strong signal to potential job applicants that the company is interested in talented women and is able to properly appreciate them in their hierarchy. It is also an indicator of a fair approach to all employees in terms of recruitment, promotions and retention. Working women have a keen interest in such employment policies. A network of female role models and leaders, who are excellent examples for other women, is also being constructed at the same time.

The international salary portal Paylab.com enables people in executive management positions as well as those in middle and lower levels of management to compare their salaries. The portal provides salary analysis for companies and is a great help to those looking to properly configure salaries and benefit packages for their employees.

What can companies do to develop gender diversity now?

Successful companies support inclusive workplaces. According to a study by the firm McKinsey, companies benefit by increasing the number of women in leadership positions if such an effort is in the top 10 priorities of the CEO and other members of executive management engaged in this issue. Often increasing gender diversity is simply a declared goal and this prevents it from filtering down to lower levels of management and managers who are closer to rank-and-file employees, who fail to make it a personal priority. The company then thinks that it’s not such a pressing topic and companies are unable to fully grasp the idea in practice.

Initiatives to support gender diversity must be understood as long-term programmes that bear fruit 3 to 5 years down the line. In any case, support for diversity should be a part of corporate culture and corporate initiatives and should gradually break down the perception of women in the job market.