Author: Rachael Stott
The very factors that make art valuable, can also be destructive. Art is subjective vs. objective (individual taste and beliefs pervade; ‘because I like it, it is good…’), fad-driven (NFTs that celebrities were crawling over each other to acquire, are now selling at a 90% haircut compared to prices during peak popularity), and unpredictable (a shark in formaldehyde sold for $8million). We are witness these influences in our current climate, with subjective and unpredictable deal-making and business decisions (‘it will be good, because I said so’) at global and national levels.
Think Global Act Local
While few of us are in positions to significantly influence global outcomes in the short term, there are efforts we can all take to mitigate local and longer term impacts of this flawed approach. One of the at risk areas is diversity, equity and inclusion. Hard fought efforts and actions are being undermined and, in some cases, completely destroyed. Within this, gender diversity is a mature field of research that offers compelling science-based insights.
The Case for Gender Diversity
The science tells us:
- Organisations with at least 30% women in leadership positions are 12 times more likely to rank in the top 20% for financial performance. (Conference Board Research)
- On most of the key traits that make leaders more effective, women tend to significantly outperform men on average. Humility, self-awareness, self-control, moral sensitivity, social skills, emotional intelligence, kindness, prosocial and moral orientation, are all statistically more likely to be found in women than men. (Dr. Tomas Chamorro-Premuzic)
- Increasing female participation in corporate leadership to 30% was associated with a one-percentage-point increase in net margin, equating to a 15% boost in profitability for a typical firm. (The Peterson Institute for International Economics)
- An analysis of 137 articles showed that 87% reported positive outcomes associated with female leadership in healthcare. These benefits included improved health outcomes, financial stability, innovation, and organisational culture. (BMJ Global Health, February 2025)
- At the current rate of progress, it will take until 2158 - which is roughly five generations from now - to reach full gender parity. (World Economic Forum June 2024)
In the face of influential decision and deal-makers who believe they ‘know what’s best’ and weaponize terms such as ‘woke’ and ‘anti-meritocratic’ to undermine gender and other diversity, equity and inclusion efforts; science-based decision-making becomes our armour. It is science that can support us to ensure we are selecting and promoting people into leadership roles who have the right attributes to influence organisational success and prosperity; to make good deals, for a better future - economically and socially. Take care that subjectivity and fads do not obscure judgement and decision-making in your organisation about who should lead.
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