by Denise Berger

When I was a girl, I wanted to play like the boys: their childhood experience seemed to be emotionally unencumbered, with their primary focus being on strength in sports, skill at games, and hanging out with their buddies. Being a girl seemed more complicated: we would impose inconsistent standards on each other that shifted like the wind and often influenced by what our friends thought of us; some of us were taught relentless pursuit of aspirations at an early age, while others were raised in a traditional care-giving model. Sure, girls were athletic and intelligent like boys, but we played in different worlds…

Today, despite the up-surge in princess toys and games geared specifically to their age group, and inherent differences in our psyche still in existence, young girls are standing firmly side-by-side with boys on the soccer and t-ball fields, basketball courts and swimming lanes, and there is increasing friendliness, camaraderie and sense of equality. The recent generations of mothers (whether working or stay-at-home) have helped to drive this change as they raise their children to believe they can be anything they want to be as they grow up. Our young adults are entering the workforce with a stronger sense of self, confidence in their respective genders and unburdened by sociological pre-disposition.

So, why is it that we are not yet seeing this gender equality in the upper ranks of our workplace that our children are experiencing on the playgrounds? Why are women not yet side-by-side with men in the Board rooms or equally present in the C-suite? Is it merely an issue of waiting for the next generation to step off the fields and into the executive ranks? Why is it a business imperative to progress our female talent?

Let’s start with the impact working women have on the economy. Kevin Daly, an economist at Goldman Sachs, in Economics Focus, suggests that GDP rises when women are employed. In Italy and Spain, where female employment has been climbing, the narrowing of the gap accounts for rise in the EU’s 2.1% increase in GDP since 1995. Secondly, Baby-boomers are starting to retire, and 50% of the talent pipeline is female and growing. Over the next five years, the percentage of women graduating college and also those obtaining law or business degrees will surpass the percentage of men. McKinsey tells us that in Europe alone, we can expect a talent shortfall of 24 million by 2040, if the female employment rate was raised from its current level the talent shortfall could go as low as 3 million. Finally, in terms of corporate growth rate, research tells us that companies with the greatest level of gender diversity in top management, on average outperform their sector on ROE (by 10%), Operating Result (by 9%) and Stock Price growth(over 30%).

Is it only a matter of time and generational shift that will create equity in the upper ranks of corporations ?