Succession planning can redress gender imbalance at consumer companies
17 September 2014
In an industry where women account for 85% of consumer products purchases, it seems incongruous that only 25% of those companies’ senior executives are female, according to a recent survey.
Thu, 18 Sep 2014In an industry where women account for 85% of consumer products purchases, it seems incongruous that only 25% of those companies’ senior executives are female, according to a recent survey.
Consumer products companies across the world are being urged to promote or recruit the best female talent to address the disconnect between those who buy the products and those who run the companies.
"Women today account for 85% of all consumer purchases, yet 60% of consumer products companies report that their senior executive team is three-quarters male," says Charlotte Eblinger, director of EMEA for IIC Partners, whose company conducted the survey.
However, despite the imbalance, Eblinger believes it presents an opportunity for companies to address succession planning.
"The business case for gender diversity has been well-documented. Companies with gender diversity typically attract the best employees, reduce turnover and enjoy stronger organisational performance,” says Eblinger.
She believes that this disconnect in the consumer products industry points to a “pressing opportunity” for companies' succession planning.
"Consumer brands clearly recognise that more gender diversity at the leadership level will better reflect the reality of purchasing decisions in today's marketplace," she added.
"As companies plan for future talent needs, diversity will assume more importance, particularly in industries like consumer products and retail."
Meanwhile, the survey also found that within the retail industry, 64% of companies said their senior executive team was less than 25% female. Forty-five per cent of retail companies said they expected to hire more senior women in the future. And 57% of retail companies said the issue of gender diversity was either "very important" or "somewhat important”.
Consumer products companies across the world are being urged to promote or recruit the best female talent to address the disconnect between those who buy the products and those who run the companies.
"Women today account for 85% of all consumer purchases, yet 60% of consumer products companies report that their senior executive team is three-quarters male," says Charlotte Eblinger, director of EMEA for IIC Partners, whose company conducted the survey.
However, despite the imbalance, Eblinger believes it presents an opportunity for companies to address succession planning.
"The business case for gender diversity has been well-documented. Companies with gender diversity typically attract the best employees, reduce turnover and enjoy stronger organisational performance,” says Eblinger.
She believes that this disconnect in the consumer products industry points to a “pressing opportunity” for companies' succession planning.
"Consumer brands clearly recognise that more gender diversity at the leadership level will better reflect the reality of purchasing decisions in today's marketplace," she added.
"As companies plan for future talent needs, diversity will assume more importance, particularly in industries like consumer products and retail."
Meanwhile, the survey also found that within the retail industry, 64% of companies said their senior executive team was less than 25% female. Forty-five per cent of retail companies said they expected to hire more senior women in the future. And 57% of retail companies said the issue of gender diversity was either "very important" or "somewhat important”.
