Women In Leadership Roles May Be Australia’s Secret To COVID-19 Recovery, Research Shows

Studio shot of a businesswoman holding a piece of paper written
SHARE
THIS



An Australian government agency has revealed that women in senior leadership roles could be crucial to the country’s COVID-19 recovery.

During this year’s B&T Women in Media Awards, presented by Bauer Media, we’ll be recognising exceptional people who have achieved success in their professional arenas, celebrating their invaluable contribution to their industry through leadership, innovation and courage.

As Australia emerges from the coronavirus crisis, the role of women with these qualities could be absolutely critical.

New research released by the Bankwest Curtin Economics Centre (BCEC) and the Workplace Gender Equality Agency (WGEA) found that an increase in the share of female ‘top-tier’ managers by 10 percentage points or more led to a 6.6 per cent increase in the market value of Australian ASX-listed companies, worth the equivalent of $104.7 million.

The report, Gender Equity Insights 2020: Delivering on Business Outcomes, revealed a strong relationship between an increase in the number of women in key decision-making positions and improvements in company performance.

Report author and BCEC principal research fellow associate professor Rebecca Cassells said leadership has never been so important, especially when the world is dealing with the fallout and economic recovery from the COVID-19 pandemic.

“When businesses are looking to a post-COVID-19 world, our research shows that having a female CEO has the potential to help companies navigate through the crisis,” Cassells said.

The report found that in Australian ASX-listed companies, having a female CEO led to a five per cent increase in their market value. This is worth the equivalent of $79.6 million on average.

Cassells said that the new evidence is an important step towards delivering more gender equitable workplaces and understanding how they can improve the performance of Australian businesses.

“We found the appointment of a female CEO led to a five per cent increase in the market value of Australian ASX-listed companies. These companies also had a 12.9 per cent increase in the likelihood of outperforming the sector on three or more performance and profitability metrics,” Cassells said.

However, the report revealed some unsettling data about the current state of female representation in leadership roles, with only 14.1 per cent of board chairs being filled by women.

On top of this, only 17.1 per cent of CEOs are women and 29.8 per cent of companies have no female representation on their board and a similar proportion of companies have no women in their key management teams.

Not only are we seeing fewer women in leadership, but the research also showed the gender pay gap remains a concern for the Australian labour market.

The report uncovered that the gender pay gap has hovered between 14 per cent and 19 per cent for the past two decades.

“Although women are progressing faster into management and leadership roles, the data shows that systemic gender pay gaps persist, and are higher in senior leadership,” the report said.

“Measuring gender pay gaps is not enough—organisations should act on their pay equity outcomes to make a positive difference.

“Encouragingly, the 2018 report found that more than half of those organisations that conducted a pay gap analysis also took definitive action in light of the results. The most common type of action to take was to report to the executive, followed by reviewing performance pay.”

The report suggests companies concerned about narrowing the gender pay gap should work on increasing the representation of women in leadership roles as well as introducing flexible workplace policies such as employer-funded paid parental leave schemes and onsite childcare.

Don’t be shy, be proud of your achievements and enter B&T’s Women In Media! Submit your entry here.

You can also buy tickets to the event here, which will be held on Wednesday 28 October 2020, at Doltone House (Jones Bay Wharf).

And, if you’d like more information, head to this website.

Other key information 

On-time deadline: Friday 21 August 2020 (5pm AEST)

Late entries deadline: Friday 28 August 2020 (5pm AEST)

Shortlist announced: Wednesday 23 September 2020.

Thank you to all of our incredible sponsors for making the event possible! 

Featured image credit: iStock/LaylaBird

Please login with linkedin to comment

Bankwest Curtin Economics Centre women in media awards Workplace Gender Equality Agency

Latest News

The Turning Tide Against Surveillance Capitalism
  • Opinion

The Turning Tide Against Surveillance Capitalism

In this guest post, CTO of Wiise, Hamish Browne (pictured below), says tech’s new focus on privacy will lead to new rules and new ways of doing business for marketers… With the delicate balance between customer data and privacy in the spotlight like never before, the potential emergence of new standards and business models, is […]

Opinion

by B&T Magazine

B&T Magazine
Kim Kardashian Spruiks Cryptocurrency In Instagram Ad
  • Media
  • Technology

Kim Kardashian Spruiks Cryptocurrency In Instagram Ad

Businesswoman, reality TV star, and social media personality Kim Kardashian has posted an ad for mysterious cryptocurrency Ethereum MAX [EMAX]. In a post on her Instagram story – where she has 228 million followers – Kardashian wrote: “Are you guys into crypto????” “This is not financial advice but sharing what my friends just told me […]

by B&T Magazine

B&T Magazine
Great Southern Bank Rebrands With ‘Happily Clever After’ Via Indie Agency Richard Rose
  • Campaigns

Great Southern Bank Rebrands With ‘Happily Clever After’ Via Indie Agency Richard Rose

Great Southern Bank has launched a brand campaign this week, ‘Happily Clever After’, coinciding with its name change from Credit Union Australia, bringing to life its purpose of helping all Australians own their own home. The journey to changing from Credit Union to Great Southern Bank began back in 2020. When Australia’s largest customer-owned bank, […]

Nine Promotes Jo Clasby To Commercial Director, Publishing
  • Marketing

Nine Promotes Jo Clasby To Commercial Director, Publishing

Nine has promoted Jo Clasby to the role of commercial director – publishing, where she will report to Nick Young. She was previously director of client partnerships – publishing. Her new role establishes her at the same level of seniority as Anthony Smyth, commercial director – radio. Smyth was promoted at the start of this […]

Mark Zuckerberg, chief executive officer of Facebook Inc., listens as Narendra Modi, India's prime minister, not pictured, speaks during a town hall meeting at Facebook headquarters in Menlo Park, California, U.S., on Sunday, Sept. 27, 2015. Prime Minister Modi plans on connecting 600,000 villages across India using fiber optic cable as part of his
  • Technology

“No F*cking Way!”: Pink Floyd Frontman Refused To Give Mark Zuckerberg Rights To Song

Roger Waters, co-founder of Pink Floyd, said he refused to give Mark Zuckerberg the rights to use hit song Another Brick in the Wall (Part Two). Waters was speaking at a pro-Julian Assange event when he said that he had been offered a “huge, huge amount of money” for the use of the 1979 hit […]

by B&T Magazine

B&T Magazine
Accor Celebrates Aussie & NZ Cities With New ‘Go ALL Out’ Campaign
  • Campaigns

Accor Celebrates Aussie & NZ Cities With New ‘Go ALL Out’ Campaign

Hospitality giant Accor is shining a light on the joy of cities through its newest campaign, ‘Go ALL Out’, which launches in Australia and New Zealand today. The gateway to the ‘Go ALL Out’ campaign is ALL – Accor Live Limitless, a lifestyle loyalty program that integrates rewards, services and experiences throughout the Accor portfolio […]

Marketing Firm Silverbean Set To Double Headcount To Support New Client Wins
  • Marketing

Marketing Firm Silverbean Set To Double Headcount To Support New Client Wins

Global affiliate and partner marketing firm Silverbean has secured new contracts with 13 major Australian brands and is now working to double the size of its Asia-Pacific team. Silverbean launched in Australia in 2019 and has seen steady growth through its work with retailers. Now, with 15 new brands joining the Silverbean portfolio, the agency […]

Xandr Launches New Guide Exploring The Future Of Identity
  • Advertising
  • Technology

Xandr Launches New Guide Exploring The Future Of Identity

Xandr, AT&T’s advanced advertising company, today released “Shaping the Future of Identity,” an industry guide exploring the approaches for buyers and sellers, as well as market participants, as they evaluate identity solutions in preparation for a future without third-party cookies.

GTI Appoints New GM Of Marketing & Strategy, Snares Fresh Client
  • Marketing

GTI Appoints New GM Of Marketing & Strategy, Snares Fresh Client

Tourism PR and marketing agency GTI has announced the appointment of longtime media executive Jenny Pham as its new general manager of marketing and strategy. Pham (pictured above) will lead the agency’s marketing division with responsibility for strategy, media and consumer marketing, while GTI founder and managing director Sarah Anderson remains as the day-to-day lead […]

Hospitality Networking Platform Clipboard Launches Equity Crowdfunding Campaign
  • Campaigns
  • Marketing

Hospitality Networking Platform Clipboard Launches Equity Crowdfunding Campaign

Clipboard, a free professional networking platform for the hospitality industry, has announced it will seek to raise its next round of funding via equity crowdfunding platform Birchal. This will power its vision to transform the way the fragmented hospitality industry connects, shares experiences, markets and recruits. With a growing member database of over 24,000 hospitality […]