Today is International Women’s Day. So, is there an International Men’s Day?
Numbers explain why.
Today, more than 50 percent of individuals graduating with a master’s degree are women, yet 5 and 10 years into their working careers, compensation levels for women lag those for men.
Only a handful of Fortune 500 companies are led by women (around 5 percent) and less than 20 percent have female representation on boards.
Economists estimate that eliminating the gap between male and female employment could boost GDP in the U.S. by 5 percent, in Japan by 9 percent and in Egypt by 34 percent. When combined with the fact that women are more likely to invest their wealth in education and health for their children, female employment and wage equality can, and will, impact economic development in a broader sense.
Yet, women are struggling to catch up.
Conferences, symposia and keynotes that speak loudly about the lack of diversity, abound.
Let’s hold ourselves accountable.
So, today I pledge (I will keep you posted):
I pledge to sponsor a woman on my team and help her realize her professional aspirations.
What about you?
I thought I’d share with you three things I’ve learned in the last week.
Emerging is trending.
In 1980, emerging market economies accounted for 21 percent of global revenue. By 2013, this proportion had almost doubled to 41 percent. By 2025, we expect more than 45 percent of Fortune Global 500 companies to be from emerging markets.
The war for talent intensifies.
There is a global generation gap. Today, the median age is over 46 in Germany and over 36 in the U.S. On the other hand, it is 27 in India and 18 in Nigeria. This gap will lead to global migration with aging societies in the developed world competing for talent from the emerging markets. In short, it will become imperative for businesses in developed markets to adopt a global, not local, mindset. An inclusive culture and flexibility in the workplace will be the currency of choice. If you want to move ahead, be willing to compete for talent.
Diversity is a business imperative.
A recent survey by Ernst & Young reports that almost 9 out of 10 companies surveyed believe that the problems confronting them are so complex that teams are essential in creating solutions. Too, companies with diverse teams (both in terms of their backgrounds and geographies) experience higher EBITDA growth.
If he were alive, Charles T. “Ted” Bauer would have been 97 years old today.
At Bauer College, we think often of Ted Bauer as we see his legacy unfold.
We see his legacy unfold:
- In the over 6,000 students who are enrolled in our various programs.
- In the over 5,000 business connections that Bauer College has access to, thanks to his gift.
- In the high retention and graduation rates of our students, especially the Ted Bauer Scholars.
- In the niche programs like entrepreneurship, sales, energy, financial services and more.
- In the faculty research that has been possible thanks to his gift.
- In the emails we receive from students and alumni whose lives have been transformed thanks to the fine gift of education they received.
- Most of all we hear it when, as Joshua Ferguson, a Bauer student who is currently serving as an intern in the White House in Washington D.C., shared with me recently, “I want to give back to this college that has given me so much.”
Happy Birthday, Ted Bauer.
Your legacy only grows over time.