The movement for gender balance in top jobs continues and it’s not just about Equality.
Remarkably, there are more men called John and David than there are women in total heading up FTSE companies ( http://bit.ly/1EFyMjw )! The argument for equality is fundamental but the benefits are in business success too. The outcomes arise from greater trustworthiness that leads to consumer loyalty and advocacy. Lack of trust has the opposite effect. The Edelman Trust Survey 2015 found that 80% of people who trust will buy – 63 % of those who distrust will not!
On the same point many have asserted that recent business scandals would have been averted if a woman had been present in the boardroom and a recent report found that boards with gender diversity “had fewer instances of governance-related scandals such as bribery, corruption, fraud, and shareholder battles” ( http://bit.ly/1FYXcZe ).
To be equally fair, it must be remembered that the recent Parliamentary Committee criticism of Rhona Fairhead, Director of HSBC, doesn’t support this assumption, but there is common intuitive and academic support for the trustworthiness evoked by women.
Whilst it may take a while to generate gender balance there is a quicker route to introducing systematic trustworthiness into Boardrooms as well as into operational decisions processes – big and small: Dynamic Trust Assessment.
In the time it takes to say “What would your Mother Say”, a mental risk assessment can be underway to consider the impact on stakeholders – whether or not the decision makers are male or female or both. It takes slightly longer to complete a short systematic assessment.
The Human Factor in Risk Management is the subject of a two day CPD Course hosted by the University of Liverpool at their new campus in London. The course will examine the psychology of risk and leave delegates with tools and techniques for deliberately maximising consumer and stakeholder Trust as part of Business Planning and Risk Management.