Britain’s most successful companies tend to have a large proportion of women in senior management roles but the UK lags behind the US and Australia on diversity at the top, new research suggests.
Between 2011 and 2015, the most gender diverse quarter of companies were 20pc more likely than the least diverse to have above average financial performance, a report by management consultants McKinsey found.
Dame Vivian Hunt, who runs McKinsey’s UK business, said: “The correlation between diversity and financial performance is clear across different sectors and geographies: more diverse teams equals significant financial outperformance.”
I am not contesting the correlation, but I have an inkling they might have got the direction in which it runs arse-about-face. Here’s a list of the ten countries with the best road safety record:
And here’s a list of the ten countries with the worst:
Should we conclude that having safe roads makes a country wealthy? Or that wealthy countries are in a better position to make their roads safer?
My guess is those companies which are top financial performers in their industry have the spare cash to throw around on social programmes such as ensuring gender diversity. What will be interesting is how well these companies are doing in five or ten years’ time. The pitiful example of Carillion shows that implementing diversity policies is no guarantee of financial success, but I’d be willing to bet their books were looking a lot better when they first started dreaming them up.