the female ceo reputation premium
TRANSCRIPT
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The Female CEOReputation Premium?Differences & Similarities
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The benefit of promoting greater gender diversity
in the C-Suite is generally acknowledged by both
men and women. According to a report from
Catalyst, companies with higher female
representation in top management deliver 34%
greater returns to shareholders than those with
lesser representation. Gender diversity is thus
good for women, good for companies and good
for business.
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All well and good. But how female
leadership impacts CEO and corporate
reputation still remains largely
unexplored, so Weber Shandwick
decided to traverse this terrain by mining
global research we recently completed
about CEO reputation overall. What do
female CEOs bring to a company’s
reputation that is different from their male
counterparts, and how do these
differences affect how a company is
perceived? This is the focus of our new
report, The Female CEO Reputation
Premium? Differences & Similarities.
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What we did
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How we did itThe Female CEO Reputation Premium is a
supplement to The CEO Reputation Premium:
Gaining Advantage in the Engagement Era.
Conducted with KRC Research, it was released in
March 2015 and is based on more than 1,750
executives in large-sized companies ($US 500
million +) in 19 markets around the world.
The large sample size of our study allowed us to
segment our sample into two groups – those
executives with a male CEO and those with a
female CEO. The insights we share and
conclusions we draw are based on a comparison
of these two groups of respondents.
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What we learned
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7Source: The CEO Reputation Premium: Gaining Advantage in the Engagement Era, Weber Shandwick & KRC Research, 2015
First, a refresher: CEO reputation matters
% of company’s reputation attributed to CEO’s reputation
45%% of company’s market value attributed to CEO’s reputation
44%
% expect CEO reputation to matter more in next few years50%
% say CEO reputation retains employees
70%% say that CEO reputation attracts new employees77%
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6 insights revealed
Corporate and CEO Reputations are Gender-Blind
Gender-Based CEO Leadership Qualities? Not So Much
Female vs. Male CEO Visibility is More Than Media-Hype
The Number of Female CEOs is Vastly Overestimated
The CEO Pipeline has a Gender Bender
How to Attract More Women CEO-Aspirers: Make Reputation Count!
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Corporate and CEO reputations are gender-blind
Company reputation very strong (% agree)
38%36%
CEO reputation
very strong(% agree)
35%33%
% of company market value attributed to CEO reputation
43%47%
Apparently once women sit in the chief executive chair, they’ve proved themselves and their gender is no longer an issue. Like their male counterparts, all that now counts is business performance.
– LESLIE GAINES-ROSS, CHIEF REPUTATION STRATEGIST, WEBER SHANDWICK
Executives with female CEOsExecutives with male CEOs
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“
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Gender-based CEO leadership qualities? Not so much2
Which words or phrases best describe your CEO?
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Male CEOs Female CEOs
43% 52%
Male CEOs Female CEOs
33% 39%
Male CEOs Female CEOs
15% 20%
Female CEOs are more likely to proactively engage external audiences.
Female vs. male CEO visibility is more than media-hype
“comfortable talking to the news media”
“participating in social media”
Indicates significant difference
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more willing to talk with the news media
than he/she was a few years ago.”
CEO IS DESCRIBED AS
BY EXECUTIVES
“MY CEO IS
(% EXECUTIVES AGREE)
CEO IS DESCRIBED AS
BY EXECUTIVES
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12% of global businesses have either a female CEO or Managing Director
Global senior executives estimate that 23% of large companies
have a female CEO
The number of female CEOs is vastly overestimated
23%
5%
4%
12%
Perception
Reality
5% of CEOs running U.S. Fortune 1000 companies are women
Women run 4% of FTSE 100 companies
(The Grant Thornton International Business Report survey)
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Female executives are significantly less likely than male executives to be interested in becoming CEO one day.
5 The CEO pipeline has a gender bender
Would you personally ever want to be the top leader of a large company? (Global executives)
Yes No Maybe
32% 30%37%
23%33%
43%
Indicates significant difference between genders
Female executives
Male executives
Percentages may not add up to 100% because of decimal rounding
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33%
16% 19% 22% 25%15%
95
38%
18%23% 27%
22%14%
84
Consumer Healthcare Finance Technology Science/Engineering
Travel/Tourism
INDUSTRY*
31%
50%
19%
95
47%40%
12%
8495
46%38%
16%
84
42%49%
10%
Who wants to be a CEO?
Millennials GenXers Boomers
GENERATION CEO GENDER COMPANY OWNERSHIP
Public Private OtherMale Female
Indicates significant difference between genders
Female executives who want to be CEO
Male executives who want to be CEO
95%
5%
84%
16%
Percentages may not add to 100% because of decimal rounding
*Respondents were allowed to select more than one industry
Women who aspire to CEO are more likely than male aspirers to be Millennial, have a woman CEO and to be employed in privately-held companies.
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NORTH AMERICA
9%
EUROPE
22%
ASIAPACIFIC
27%
BRAZIL 34%*
Who wants to be a CEO?
CEO aspirations among women vary widely by geographic region.
*Small sample size
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6 How to attract more women CEO-aspirers: make reputation count!
Good reputations matter more to women.
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Indicates significant difference
Male executives Female Executives
54% 64%
CEO’s reputation influences decision to remain at the company
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Female Executives with a Male CEO
Female Executives with a Female CEO
63% 70%
CEO’s reputation influences decision to remain at the company
CEO reputation matters even more to women when the CEO is a woman
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How to be a CEO who women executives want to work for
Has a clear vision for the company (69%) Has a clear vision for the company (67%)
Decisive (59%) Has a global business outlook (61%)
Is honest and ethical (56%)
Has a global business outlook (56%)
Is focused on customers (55%)
Is a good communicator internally (55%)
Is a good communicator externally (55%)
Is a good communicator internally (53%)
Is honest and ethical (53%)
Inspires and motivates others (51%)
Is focused on customers (51%) Cares that the company is a good place to work (52%)
Top-ranked characteristics of highly regarded CEOs
Indicates characteristic unique to male executives Indicates characteristic unique to female executives
According to male executives According to female executives
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For more information about The Female CEO Reputation Premium? Differences & Similarities, contact: Micho SpringChair, Global Corporate PracticeWeber [email protected]
Carol BallockEVP, Executive Equity & Engagement LeadWeber [email protected]
#ceoreputation19
Leslie Gaines-RossChief Reputation StrategistWeber [email protected]