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Next Generation
Diversity:
Developing tomorrow’s
female leaders

Attracting, developing
and retaining the
female millennial
2

Developing tomorrow’s female leaders
Introduction
Organisations the world over are currently challenged with a lack of women in
leadership positions, and fast becoming concerned with the competitive and financial toll
this could mean for their organisations. Meanwhile they are also facing the challenges
that come with vast numbers of millennial talent entering and reshaping the workforce.
Research and media are currently dominated with a focus on women in leadership and
on corporate boards. However, to achieve sustainable change the public and private
sectors must change the conversation: they must also focus on developing talented junior
women now for future leadership roles. To become a change catalyst in what we believe
is one of the final barriers to women permeating the top ranks of corporate leadership,
organisations must drive parallel efforts which tackle enhanced leadership diversity in
conjunction with systemic change efforts targeting their workforce from day one. But to
get this right first organisations must better understand how to attract, develop, and
retain female millennial talent.
In 2008, PwC1 began digging deeper into an observed shift in thinking among younger
employees in “Millennials at work: Perspectives of a new generation”. Subsequently, in
2011 we released our “Millennials at work: Reshaping the workforce” report which
provided insights into the minds of 4,364 millennials from across 75 countries. Most
recently, in 2013 we released our “PwC’s NextGen: A global generational study’ report”.
This cross-generational study captured the views of more than 40,000 respondents in 18
territories across the PwC network. Conducted by PwC in conjunction with the University
of Southern California and the London Business School it is the largest, most
comprehensive global generational study ever conducted into the attitudes of millennial
employees.
As our knowledge about this generation evolves and we examine our own talent pool we
think it is time to put a laser focus on the female cohort of this generation. At PwC 50% of
our workforce is female and by 2016 almost 80% of our workforce will be millennials.
PwC firms recruit some 20,000 graduate millennials annually from across the globe, half
of whom are female. Female millennials are becoming a larger and larger part of our
talent pool, and we know we are not alone. This report aims to provide some insight into
the minds of female millennials and how to position your organisation and talent
strategies towards the attraction, retention and development of this significant talent
pool.

1	

	

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal
entity. Please see www.pwc.com/structure for further details

Developing tomorrow’s female leaders

3
Report Highlights
The female millennial
- A new era

Work life balance &
flexibility

Female millennials matter because they
are more highly educated and are entering
the workforce in larger numbers than any
of their previous generations. The female
millennial is also more confident than any
female generation before her and
considers opportunities for career
progression the most attractive employer
trait. To be successful and capitalise on the
aforementioned traits employers must
commit to inclusive cultures and talent
strategies that lean in to the confidence
and ambition of the female millennial.

This generation can be expected to drive
unprecedented work life organisational
culture shifts. The time is here for
organisations to recognise work life
balance and flexibility as a talent wide
proposition.

Diversity – front of
mind
Despite the environment the female
millennial has grown up in it would be a
mistake to assume this generation
considers gender diversity as passé.
Female millennials seek out employers
with a strong record on equality and
diversity but their expectations are not
always met in practice. Employers need to
do more than “talk the talk”, they must
foster inclusive talent and advancement
strategies which demonstrate visible
results.

4

Developing tomorrow’s female leaders

A Feedback culture
One of the strongest millennial traits is
that they welcome and expect regular
feedback. Despite their affinity for the
digital world their preference is for
important feedback discussions to take
place face-to-face. Successful employers
will be those that can blend advanced
technology and communication patterns
with a culture of frequent and forward
looking career feedback delivered
face-to-face.

Global careers
Female demand for international mobility
has never been higher. To attract, retain
and develop female millennials
international employers must adopt an
inclusive modern mobility approach that
provides a diversity of international
assignment solutions.

Reputation matters
Millennials want their work to have a
purpose, to contribute something to the
world and to be proud of their employer.
Image matters to the female millennial.
Organisations and sectors will need to
work harder to communicate the positive
aspects of their employer brand. A clear
understanding of their current and future
talent pool will also be essential, with
some sectors having to work harder and
earlier than others to attract the talent
they need to succeed.
The female millennial
A new era

The female millennial has grown up in a
new era. During her lifetime women have
been joining the labour market in
increasing numbers; global female labour
force participation has been rising while
the male rate is on the decline2. Between
1980 and 2008 552 million women joined
the global labour force3 and a further one
billion women are anticipated to enter the
workforce over the next decade4.
The make-up of the labour force is not the
only thing that has changed, enrolment in
tertiary level education has also soared. In
2009 total enrolment in tertiary level
education reached 165 million – an
increase of around 500 percent since 1970
and women have been the principal
beneficiaries in all regions with female
enrolment increasing almost twice as fast
as male enrolment5. Globally women now
account for a majority of students in 93
countries while men are favoured in only
46, earn more bachelor’s degrees than men
and have an edge over men of 56 to 44
percent in master’s degrees6. In Hungary,
South Africa and the US women are
awarded 68, 61, and 60 percent of tertiary
degree qualifications respectively while in
Saudi Arabia and China they earn 44 and
48 percent7 respectively.
2	

2012 World Development Report, Gender
Equality and Development. The World Bank
3	ibid
4	 Empowering the Third Billion Women and the
World of Work in 2012, Booz and Co
5	 World Atlas of Gender Equality in Education
UNESCO, 2012
6	ibid
7	 Education at a Glance 2012, OECD Indicators

Percentage change in tertiary* education enrolment 1999-2009
Female enrolment

Male enrolment
160
140

Growth rate (%)

Born between 1980 and 1995, female
millennials make up a significant
proportion of the current and future talent
pool. Attracting the best of these
millennial workers is critical to the future
of your business. Millennials matter
because they are not only different from
those that have gone before, they are also
more numerous than any since the
soon-to-retire Baby Boomer generation.

120
100
80
60
40
20
0

North
America
and Western
Europe

Arab
States

Central
Asia

Central and Latin America South and
West Asia
Eastern
and the
Europe
Caribbean

East Asia Sub-Saharan
Africa
and
the Pacific

Source: UNESCO World Atlas of Gender Equality in Education, 2012
*Education at college or university

Percentage of tertiary degree qualifications
awarded to women (2010)
0%

Australia

54%

Korea

51%

Saudi Arabia

44%

South Africa

61%

UK

58%

US

60%

OECD Country Average

57%

EU21 Country Average

59%

G20 Country Average

70%

68%

Ireland

60%

57%

Hungary

50%

48%

Germany

40%

59%

China

30%

55%

Canada

20%

55%

Brazil

10%

54%

Source: Education at a Glance 2012, OECD Indicators
Note: some figures rounded off

	

Developing tomorrow’s female leaders

5
Do you feel that you will be able to rise to the
most senior levels with your current employer?
70%
60%
50%

56%

61%
51%

40%
30%

26%

28%

24%

20%

Female millennials matter because they
are more highly educated and are entering
the workforce in larger numbers than any
of their previous generations. With 40% of
the global labour force currently female8
never before has a generation entered a
workforce with such high levels of female
participation. Despite this, women remain
scarce at the top with only 4.6% of Fortune
500 CEOs currently female9. Yet, the
female millennial has likely outperformed
her male counterparts at school and at
university and is the most confident of any
female generation before her; 51% said
they feel they will be able to rise to the
most senior levels with their current
employer. In addition, opportunities for
career progression are considered the most
attractive employer trait by the female
millennial (53%)10.
To be successful and capitalise on the
aforementioned traits of the female
millennial, employers must commit to an
inclusive culture, talent processes, policies
and programmes that lean in to the
confidence and ambition of the female
millennial. A growing number of CEOs
(63%) are concerned about the threat the
availability of key skills present to their
growth prospects11. Meanwhile, female
millennials look set to form approximately
25% of the global workforce by 2020.
Forming talent strategies tailored for this
talent segment will be a vital step to
achieving the long-term aims and
ambitions of an individual organisation.

18%

21%

15%

10%
0%

Total

Yes
Female

No

Don’t know

Male

Source: PwC Millennials at work research

CEOs are becoming more worried about finding key skills
Q: How concerned are you about the following potential economic and policy/business
threats to your organisation’s growth prospects?
(Availability of key skills was one of the threats CEOs named.)
63%
56%
51%
46%

2010

2011

58%
53%

2014

2013

2012

2009
Base: All respondents (2014=1,344; 2013=1,330; 2012=1,258; 2011=1,201; 2010=1,198; 2009=1,124)
Source: PwC 17th Annual Global CEO Survey

Difficult questions about this new era of talent:
How well-prepared is your organisation to find, attract and keep tomorrow’s workforce
– even as you deal with today’s talent challenges?
How are you adjusting your talent strategies to consider the female millennial?
Do you have the right talent structures in place to enable this talent segment to thrive?

8	
9	

The World Bank
Mercury News (http://www.mercurynews.com/
business/ci_24696574/23-female-ceos-runningfortune-500-companies)
10	 Millennials at work, Reshaping the workplace,
PwC 2011
11	 Fit for the future, Capitalising on global trends.
17th Annual Global CEO survey, PwC 2014

6

Developing tomorrow’s female leaders

How will you manage employees with different needs, aspirations and experiences
from those of your own generation?
Diversity – front of mind
The millennial has grown up with an
affinity for a globalised and digital world.
Their racial and ethnic profile is far more
diverse than in any previous generations.
In addition this generation is seen as
having far more egalitarian views about
the roles of women12. Globally, the female
millennial is achieving a higher proportion
of tertiary degrees than her male
counterpart and is entering the workforce
in more significant proportions than any
previous generation. Despite all of this, it
would be a mistake to assume this
generation consider gender diversity as
passé.

How important is an employer’s policy on diversity,
equality and workforce inclusion when you decide
whether or not you should work for them?

The millennial generation tends to seek
out employers with a strong record on
equality and diversity. In particular this is
important to the female millennial, with
82% identifying an employer’s policy on
diversity, equality and workforce inclusion
as important when deciding whether or
not to work for an organisation. However,
their expectations are not always met in
practice; 55% of millennials agree that
organisations talk about diversity, but they
don’t feel opportunities are really equal for
all.

20%

90%

82%

80%

74%

70%
60%
50%
40%
30%
15%

12%

10%

11%
6%

0%

Important

Neither
Female

Not Important
Male

Source: PwC Millennials at work research

Organisations talk about diversity, but I do not
feel opportunities are really equal for all?

20%
25%

Agree

55%

Neither

Disagree

Source: PwC Millennials at work research
12	 Creating Tomorrow’s Leaders: the expanding
Roles of Millennials in the Workplace, Boston
College Center for Work & Family

	

Developing tomorrow’s female leaders

7
Employers are too male biased in terms of:
Attracting Employees
8%

In particular, the perception of gender bias
in the workplace remains a concern for
female millennials. The female millennial
is more likely than her male counterpart to
believe that organisations are too male
biased when it comes to attraction,
developing, and retention. When it comes
to promoting internally a significant 29%
of female millennials felt employers were
too biased towards male employees.
Spanish and German employers were seen
as the most male biased, while China and
Brazil were seen as the least male biased.
Successful employers will do more than
talk the talk, they will commit to inclusive
talent and advancement strategies which
demonstrate visible results.

Promoting employees from within

16%

17%

Developing Employees
10%

29%

Retaining employees

19%

10%

18%

Source: PwC Millennials at work research

Employers are too male biased when promoting
from within (those that agree)
0%

10%

20%

30%

40%

24%

Total

40%

Spain

39%

Germany
35%

Russia

33%

Italy

31%

Japan

India

14%

Netherlands

14%

France
China
Brazil

10%
6%
5%

Source: PwC Millennials at work research

8

Developing tomorrow’s female leaders

50%
Does your organisation plan to increase its
focus on the following priorities over the next
12 months?

Board level
diversity
Workforce
diversity and
inclusion

33%

Do you have the following in place to develop
your leadership pipeline?

Programme to encourage
diversity amongst
business leaders

58%

50%

Source: PwC 16th Annual Global CEO Survey

Difficult questions about diversity:
What are you doing to make your workforce more diverse? And how will you utilise
the benefits of diversity?
Do you have the right role models in place to attract and retain the female millennial?
What are you doing to enable objective talent, performance management and career
progression systems and processes?

	

Developing tomorrow’s female leaders

9
Work life balance and
flexibility
1%

2%

5%

97%

93%

Important to me

Neither

% ranking each 1st place
22%

19%
14%

Source: PwC Millennials at work research

Developing tomorrow’s female leaders

3%

3%

2%

2%

4%

2%

1%
higher wages

4%

Time off to do
community/charity work

5%

Access to low interest
loans/borrowing options

6%

Free child care

6%

Subsidised travel costs

Free private healthcare

Cash bonuses

Flexible working hours

0%

Training and development

5%

Assistance in clearing debts
incurred while studying

8%

Company car

10%

Financial assistance
with housing

25%

15%

10

Not important to me

Source: PwC Millennials at work research

20%

13	 PwC’s NextGen: A global generational study,
2013

2%

Male

Female

Greater vacation allowance

This generation can be expected to drive
unprecedented work life organisational
cultural shifts, given the millennial is
typically unmarried (75%) and without
kids (92%)13 and the desire for work life
balance and flexibility is in high demand
from both female and male millennials.
Outdated organisational work life
strategies that view such topics as solely a
female or parent demand will fail to attract
or retain millennial talent, male or female.

How important is it to you that you have good work life balance?

Pension scheme or other
retirement funding...

Work life balance is important to nearly all
millennials, and appears slightly more
important to the female millennial with
97% identifying it as important to them
and 74% saying it is very important. In
addition flexible working hours were
preferred over financial benefits when
millennials were asked which benefits they
would most value from an employer. These
findings reinforce the common sentiment
that work life balance and flexibility are of
high importance to the millennial
generation.
Likewise, a work life and flexibility
strategy over-orientated toward the
millennial generation could leave
organisations faced with challenges as
millennials are not alone in wanting more
flexibility. A significant number of
employees from all generations feel so
strongly about wanting a flexible work
schedule that they would be willing to give
up pay and delay promotions in order to
get it.

Would give up some of their pay/slow the pace of promotion in
exchange for working fewer hours

Employers who get it right will understand
the importance of creating a flexible work
culture for all genders and generations.
The time is here for organisations to
recognise work life balance and flexibility
as a talent wide proposition.

Difficult questions about work life strategies and flexibility:

Female Millennial

Male Millennial

Female
Non-Millennial

Male
Non-Millennial

19.9%

14.3%

17%

13.1%

Source: PwC’s NextGen: A global generational study

What are you doing to create a culture where performance trumps presence?
How will you shift from a culture of work life policies to a culture of work life in practice?
How will you transform your work life and flexibility strategies so they are attractive to
your complete talent pool?

	

Developing tomorrow’s female leaders

11
A Feedback culture
One of the strongest millennial traits is
that they welcome and expect regular
feedback on their job performance. 51% of
female millennials said feedback should be
given very frequently or continually on the
job while only 1% said feedback was not
important to them. Setting clear targets
and providing regular and structured
feedback will be very important to the
female millennial. Equally important will
be a more progressive approach to
feedback, ultimately a focus on feedback
that is future orientated14 and gears this
talent pool towards future career
progression; rather than feedback that is
reactive and past orientated.
This generation is the most digital and
tech-savvy of any generation. An
employer’s provision of state-of-the-art
technology is important to 59% of
millennials when considering a job,
although, less important to the female
(54%) than the male millennial (64%)15.
40% of female millennials have a
preference for the use of electronic
communication instead of the telephone or
face-to-face conversations when it comes
to conversations in the workplace.
However, it is important that employers
don’t over-emphasise the importance of
technology as a communication channel
when it comes to performance evaluations,
career planning, and compensation. The
millennial generation much like their
previous generations, value face-to-face
time when it comes to these types of
important career conversations.

14	 Rising Stars, Developing Millennial Women as
Leaders, Dr. Elizabeth Kelan
15	 Millennials at work: reshaping the workforce.
PwC 2011

12

Developing tomorrow’s female leaders
How frequently do you believe you should receive feedback
from your employer on your performance?
1%

3%

Very frequently/continually
At the end of a project
At formal performance reviews
Feedback is not important to me
Don't Know

17%

51%
28%

Source: PwC Millennials at work research

Preference for face-to-face discussions on:

Performance
Evaluations

93%

Compensation

Career Plans and
Progress

96%

82%

Source: PwC’s NextGen: A global generational study

Successful employers will be those that can blend advanced technology and
communication patterns with a culture of frequent and forward looking career feedback
delivered face-to-face.

Difficult questions about a feedback culture:
What are you doing to create a progressive feedback culture?
How will you blend a growing use of modern communication channels with a culture
of face-to-face feedback?

	

Developing tomorrow’s female leaders

13
To attract, retain and develop female
millennials international employers must
adopt a modern mobility approach that
provides a diversity of mobility solutions and
fosters a mobility culture that does not overidentify international assignments with male
international assignees.
Current International Assignee
Population
80%

20%

Global careers
In an increasingly globalised world,
international experience is seen by
millennials as a vital element to a
successful career. Millennials have a
strong appetite for working abroad, with
71% keen to do so at some stage in their
career. It is critical that international
employers realise that this is not a male
phenomenon. Female demand for mobility
has never been higher with 69% of female
millennials identifying they want to work
outside their home country during their
career.
Given international organisations are
placing growing importance on the
establishment of leadership teams and an
employee base that are globally competent
it is no surprise that 63% of women feel
international experience is critical to
further their career. Despite the number of
female assignees doubling in the past
decade, women currently make up a
meagre 20% of international assignees16.
Research identifies that gaining
international experience advances
women’s and men’s career further and
faster, yet the best and brightest female
talent are overlooked for these
opportunities compared to their male
peers17.

To attract, retain and develop female
millennials international employers must
adopt a modern mobility approach that
provides a diversity of mobility solutions
and fosters a mobility culture that does not
over-identify international assignments
with male international assignees.
Successful international employers will
also have a clear understanding of their
‘mobile ready’ population.

I would like to work outside my home
country during my career
69%

I feel international experience is critical
to further my career
63%

Difficult questions about global careers:
What is your organisation doing to create a cadre of leaders with a global mindset?
How will you evolve your mobility strategy to meet the dual demands of an
increasingly diverse talent pool and a rapidly changing work landscape?
What are you doing to make your international assignment programme inclusive to
women? And how will this manifest itself in your international assignment
programme structure and the selection of international assignees?
How will you make sure you always have a current picture of your mobile ready talent
pipeline?

16	 Talent Mobility, 2020 and beyond, PwC 2012
17	 Good intentions, imperfect execution? Women
get fewer of the “hot jobs” needed to advance,
Catalyst

14

Developing tomorrow’s female leaders
Reputation matters
Our research into this Millennial generation has told us one thing is clear - millennials
want their work to have a purpose, to contribute something to the world and to be proud
of their employer. This holds true for both the male and the female millennial. Our
research suggests that some companies and sectors will have to work harder in the future
to communicate the positive aspects of the employer brand. 58% of millennials said they
would avoid working in a particular sector solely because they believe it had a negative
image18. Image appears to be a stronger influencer of the female millennial with the
image of 9 of 14 sectors less appealing to more women than men.

Are there any sectors in which you would not wish to work
solely because of their image? (top sectors only shown)
Financial Services
Oil and Gas
Defence
Government and Public Services
Chemicals
Forestry, Paper and Packaging
Metals
Healthcare
Transport and Logistics
Industrial Manufacturing
Hospitality and Leisure
Retail and Consumer
Energy, Utilities and Mining
Automotive
0%

5%

10%

Source: PwC Millennials at work research

15%

20%
Female

25%
Male

18	 Millennials at work, Reshaping the workplace, PwC 2011

	

Developing tomorrow’s female leaders

15
Spotlight on Financial Services
The most significant number of women (22%) said they would
not like to work in the Financial Services Sector solely because of
its image. This presents some unique challenges for the Financial
Services Industry.
Data from 20 global markets shows women comprise nearly 60%
of employees in this industry19. With women making up the
majority of this industry, Financial Services organisations will
need to focus on retention strategies specifically tailored to this
generation of women (and men), or risk a more severe leaking
pipeline than they are accustomed to. In tandem, they will need
to drive attraction strategies that highlight the benefits of working
in this industry combined with an articulation of a strong
organisation purpose.
A laser focus on leadership diversity and development strategies
targeting an enhanced career trajectory for their female talent
will also be vital if they are to attract, retain and capitalise on the
talents of the female millennial. Otherwise the female millennial
will struggle with why they are still faced with the question: if
women represent 60% of all financial services employees, why
aren’t they rising through the leadership ranks on par with their
male counterparts20?

Average representation of women in financial
services in 20 global marketsSource:
100%
80%
60%

60%

40%
20%
0%

25%

% (approximate) of
women employees

% of women in
middle management

19%
% of women in
senior level positions

Source: World Economic Forum, The Corporate Gender Gap Report 2010

19	 World Economic Forum, The Corporate Gender Gap Report 2010; Financial
services data includes financial institutions and insurance companies
20	 Mending the gender gap: Advancing tomorrow’s women leaders in financial
services. PwC, 2013

Spotlight on Oil and Gas
Next in line is the Oil and Gas sector; 17% of women said they
would not like to work in this sector solely because of its image.
The challenge for this sector is different than the challenges
facing the Financial Services Sector. With women currently
making up only a fraction of the global oil and gas workforce21
attraction needs to be front of mind. Globally, engineering
positions are currently ranked as the second hardest to fill22, only
27% of STEM (science, technology, engineering, mathematics)
graduates in G20 countries are female23 and nearly four times as
many 15 year old boys are planning a career in engineering or
computing than girls24. This sector needs to start their attraction
strategies earlier than most. They also need to consider how they
attract talent.

PwC research has found there are several negative perceptions of
the industry commonly held by women, namely that it is male
dominated, involves excessive compulsory travel to remote or
challenging locations, requires physical labour better suited to
men and a background in STEM25. Meanwhile, women know
much less about the more positive aspects of the industry.
Organisations in this sector should look to re-evaluate their
Employee Value Propositions (EVP) to incorporate a clearer
articulation of the positive aspects of the industry such as the
opportunity to make a difference with ground-breaking work and
the higher than average salaries. The branding of their EVP also
requires consideration - for example whether the imagery and
language used is overly male orientated.

21	 Building talent for the top: A study of women on boards in the oil and gas
industry. PwC, 2013
22	 Talent Shortage Survey, Manpower Group, 2013
23	 Choosing Stem, Wouter Van den Berghe and Dirk De Martelaere, October
2012
24	 Education at a Glance 2012, OECD Indicators

25	 Building talent for the top: A study of women on boards in the oil and gas
industry. PwC, 2013

16

Developing tomorrow’s female leaders
Successful employers will have a clear
understanding of their sectors’ and
organisations’ image and reputation. They
will also have a clear picture of their
current and future talent pool. To attract
the required talent some organisations will
need to work harder than others, and
others will need to work harder earlier.
Irrespective of sector all employers will
need to clearly articulate what they are
offering a potential employee and know
that the messages they send out need to
stand-up in reality.

Percentage of qualifications awarded to women in tertiarytype A and advanced research programmes, OECD Average
Field of Education

2000

2010

Education

74

77

Humanities and arts

65

67

Health and welfare

68

74

Social sciences, business and law

52

58

Services

43

51

Engineering, manufacturing, and construction

23

27

Sciences

40

42

Agriculture

43

54

All fields

54

58

Source: Education at a Glance 2012, OECD Indicators

Difficult questions about reputation
How are you communicating the positive aspects of your employer brand – and
making sure they stand up in reality?
What are you doing to adopt your employer brand to this cohort of talent?
What will it cost your organisation, if you get your talent pipeline wrong?

	

Developing tomorrow’s female leaders

17
Summary
The female millennial represents a new
era of talent. This talent population is not
only entering a workforce that looks
different to the workforce her mother and
grandmother may, or may not, of entered
- she is entering it with a different career
mind-set. She is more highly educated,
more confident, and more career
ambitious than any of her previous
generations.
Meanwhile, female millennials are
estimated to form approximately 25% of
the global workforce by 2020. Forming
talent strategies tailored for this talent
segment will be a vital step to the
sustainability of any organisation. If
employers are to be successful in
capitalising on the strengths of this
significant proportion of their current and
future talent pool, the status quo will no
longer suffice. To truly address the gender
leadership gap, organisations must drive
parallel efforts which tackle enhanced
leadership diversity in conjunction with
efforts that develop junior talented women
now for future leadership roles.
Organisations must be positioned to
respond to the core learnings and difficult
questions highlighted throughout this
report. A commitment to an inclusive
culture and inclusive talent processes,
policies and programmes will support a
business model where all talent can
prosper – including the female millennial.
When talent rises to the top, everyone
wins.
To learn more on the female millennial or
access any of the PwC publications
referenced throughout this report visit:
www.pwc.com/IWD

18

Developing tomorrow’s female leaders
Lead author
Aoife Flood
Senior Manager, Global Diversity & Inclusion Programme Office
+353 1 7926459
aoife.flood@ie.pwc.com

Executive Sponsors
Agnès Hussherr
Global Diversity and Inclusion Leader

Dennis Finn
Vice Chairman and Global Human Capital Leader

Our team of editors,
co-authors and researchers
Alina Stefan
Global Thought Leadership

Dale Meikle
Global Diversity & Inclusion Programme Office Leader

Dawn Pace
Diversity Communications, PwC US

Julie Gordon
Global Human Capital Director

Justine Brown
Human Resource Services, PwC UK

Nuala Nic Ghearailt
Business Strategy Consultant, PwC Ireland

	

Developing tomorrow’s female leaders

19
© 2014 PricewaterhouseCoopers. All rights reserved. “PricewaterhouseCoopers” and “PwC” refer to the Irish firm, PricewaterhouseCoopers, One
Spencer Dock, North Wall Quay, Dublin 1 (which is authorised by the Institute of Chartered Accountants in Ireland to carry on investment business).
“PricewaterhouseCoopers” and “PwC” may also refer to one or more member firms of the network of member firms of PricewaterhouseCoopers
International Limited (PwCIL), each of which is a separate legal entity.
PricewaterhouseCoopers does not act as agent of PwCIL or any other member firm nor can it control the exercise of another member firm’s
professional judgement or bind another firm or PwCIL in any way.

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Next Generation Diversity: Developing tomorrow’s female leaders

  • 1. www.pwc.com/iwd Next Generation Diversity: Developing tomorrow’s female leaders Attracting, developing and retaining the female millennial
  • 3. Introduction Organisations the world over are currently challenged with a lack of women in leadership positions, and fast becoming concerned with the competitive and financial toll this could mean for their organisations. Meanwhile they are also facing the challenges that come with vast numbers of millennial talent entering and reshaping the workforce. Research and media are currently dominated with a focus on women in leadership and on corporate boards. However, to achieve sustainable change the public and private sectors must change the conversation: they must also focus on developing talented junior women now for future leadership roles. To become a change catalyst in what we believe is one of the final barriers to women permeating the top ranks of corporate leadership, organisations must drive parallel efforts which tackle enhanced leadership diversity in conjunction with systemic change efforts targeting their workforce from day one. But to get this right first organisations must better understand how to attract, develop, and retain female millennial talent. In 2008, PwC1 began digging deeper into an observed shift in thinking among younger employees in “Millennials at work: Perspectives of a new generation”. Subsequently, in 2011 we released our “Millennials at work: Reshaping the workforce” report which provided insights into the minds of 4,364 millennials from across 75 countries. Most recently, in 2013 we released our “PwC’s NextGen: A global generational study’ report”. This cross-generational study captured the views of more than 40,000 respondents in 18 territories across the PwC network. Conducted by PwC in conjunction with the University of Southern California and the London Business School it is the largest, most comprehensive global generational study ever conducted into the attitudes of millennial employees. As our knowledge about this generation evolves and we examine our own talent pool we think it is time to put a laser focus on the female cohort of this generation. At PwC 50% of our workforce is female and by 2016 almost 80% of our workforce will be millennials. PwC firms recruit some 20,000 graduate millennials annually from across the globe, half of whom are female. Female millennials are becoming a larger and larger part of our talent pool, and we know we are not alone. This report aims to provide some insight into the minds of female millennials and how to position your organisation and talent strategies towards the attraction, retention and development of this significant talent pool. 1 PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details Developing tomorrow’s female leaders 3
  • 4. Report Highlights The female millennial - A new era Work life balance & flexibility Female millennials matter because they are more highly educated and are entering the workforce in larger numbers than any of their previous generations. The female millennial is also more confident than any female generation before her and considers opportunities for career progression the most attractive employer trait. To be successful and capitalise on the aforementioned traits employers must commit to inclusive cultures and talent strategies that lean in to the confidence and ambition of the female millennial. This generation can be expected to drive unprecedented work life organisational culture shifts. The time is here for organisations to recognise work life balance and flexibility as a talent wide proposition. Diversity – front of mind Despite the environment the female millennial has grown up in it would be a mistake to assume this generation considers gender diversity as passé. Female millennials seek out employers with a strong record on equality and diversity but their expectations are not always met in practice. Employers need to do more than “talk the talk”, they must foster inclusive talent and advancement strategies which demonstrate visible results. 4 Developing tomorrow’s female leaders A Feedback culture One of the strongest millennial traits is that they welcome and expect regular feedback. Despite their affinity for the digital world their preference is for important feedback discussions to take place face-to-face. Successful employers will be those that can blend advanced technology and communication patterns with a culture of frequent and forward looking career feedback delivered face-to-face. Global careers Female demand for international mobility has never been higher. To attract, retain and develop female millennials international employers must adopt an inclusive modern mobility approach that provides a diversity of international assignment solutions. Reputation matters Millennials want their work to have a purpose, to contribute something to the world and to be proud of their employer. Image matters to the female millennial. Organisations and sectors will need to work harder to communicate the positive aspects of their employer brand. A clear understanding of their current and future talent pool will also be essential, with some sectors having to work harder and earlier than others to attract the talent they need to succeed.
  • 5. The female millennial A new era The female millennial has grown up in a new era. During her lifetime women have been joining the labour market in increasing numbers; global female labour force participation has been rising while the male rate is on the decline2. Between 1980 and 2008 552 million women joined the global labour force3 and a further one billion women are anticipated to enter the workforce over the next decade4. The make-up of the labour force is not the only thing that has changed, enrolment in tertiary level education has also soared. In 2009 total enrolment in tertiary level education reached 165 million – an increase of around 500 percent since 1970 and women have been the principal beneficiaries in all regions with female enrolment increasing almost twice as fast as male enrolment5. Globally women now account for a majority of students in 93 countries while men are favoured in only 46, earn more bachelor’s degrees than men and have an edge over men of 56 to 44 percent in master’s degrees6. In Hungary, South Africa and the US women are awarded 68, 61, and 60 percent of tertiary degree qualifications respectively while in Saudi Arabia and China they earn 44 and 48 percent7 respectively. 2 2012 World Development Report, Gender Equality and Development. The World Bank 3 ibid 4 Empowering the Third Billion Women and the World of Work in 2012, Booz and Co 5 World Atlas of Gender Equality in Education UNESCO, 2012 6 ibid 7 Education at a Glance 2012, OECD Indicators Percentage change in tertiary* education enrolment 1999-2009 Female enrolment Male enrolment 160 140 Growth rate (%) Born between 1980 and 1995, female millennials make up a significant proportion of the current and future talent pool. Attracting the best of these millennial workers is critical to the future of your business. Millennials matter because they are not only different from those that have gone before, they are also more numerous than any since the soon-to-retire Baby Boomer generation. 120 100 80 60 40 20 0 North America and Western Europe Arab States Central Asia Central and Latin America South and West Asia Eastern and the Europe Caribbean East Asia Sub-Saharan Africa and the Pacific Source: UNESCO World Atlas of Gender Equality in Education, 2012 *Education at college or university Percentage of tertiary degree qualifications awarded to women (2010) 0% Australia 54% Korea 51% Saudi Arabia 44% South Africa 61% UK 58% US 60% OECD Country Average 57% EU21 Country Average 59% G20 Country Average 70% 68% Ireland 60% 57% Hungary 50% 48% Germany 40% 59% China 30% 55% Canada 20% 55% Brazil 10% 54% Source: Education at a Glance 2012, OECD Indicators Note: some figures rounded off Developing tomorrow’s female leaders 5
  • 6. Do you feel that you will be able to rise to the most senior levels with your current employer? 70% 60% 50% 56% 61% 51% 40% 30% 26% 28% 24% 20% Female millennials matter because they are more highly educated and are entering the workforce in larger numbers than any of their previous generations. With 40% of the global labour force currently female8 never before has a generation entered a workforce with such high levels of female participation. Despite this, women remain scarce at the top with only 4.6% of Fortune 500 CEOs currently female9. Yet, the female millennial has likely outperformed her male counterparts at school and at university and is the most confident of any female generation before her; 51% said they feel they will be able to rise to the most senior levels with their current employer. In addition, opportunities for career progression are considered the most attractive employer trait by the female millennial (53%)10. To be successful and capitalise on the aforementioned traits of the female millennial, employers must commit to an inclusive culture, talent processes, policies and programmes that lean in to the confidence and ambition of the female millennial. A growing number of CEOs (63%) are concerned about the threat the availability of key skills present to their growth prospects11. Meanwhile, female millennials look set to form approximately 25% of the global workforce by 2020. Forming talent strategies tailored for this talent segment will be a vital step to achieving the long-term aims and ambitions of an individual organisation. 18% 21% 15% 10% 0% Total Yes Female No Don’t know Male Source: PwC Millennials at work research CEOs are becoming more worried about finding key skills Q: How concerned are you about the following potential economic and policy/business threats to your organisation’s growth prospects? (Availability of key skills was one of the threats CEOs named.) 63% 56% 51% 46% 2010 2011 58% 53% 2014 2013 2012 2009 Base: All respondents (2014=1,344; 2013=1,330; 2012=1,258; 2011=1,201; 2010=1,198; 2009=1,124) Source: PwC 17th Annual Global CEO Survey Difficult questions about this new era of talent: How well-prepared is your organisation to find, attract and keep tomorrow’s workforce – even as you deal with today’s talent challenges? How are you adjusting your talent strategies to consider the female millennial? Do you have the right talent structures in place to enable this talent segment to thrive? 8 9 The World Bank Mercury News (http://www.mercurynews.com/ business/ci_24696574/23-female-ceos-runningfortune-500-companies) 10 Millennials at work, Reshaping the workplace, PwC 2011 11 Fit for the future, Capitalising on global trends. 17th Annual Global CEO survey, PwC 2014 6 Developing tomorrow’s female leaders How will you manage employees with different needs, aspirations and experiences from those of your own generation?
  • 7. Diversity – front of mind The millennial has grown up with an affinity for a globalised and digital world. Their racial and ethnic profile is far more diverse than in any previous generations. In addition this generation is seen as having far more egalitarian views about the roles of women12. Globally, the female millennial is achieving a higher proportion of tertiary degrees than her male counterpart and is entering the workforce in more significant proportions than any previous generation. Despite all of this, it would be a mistake to assume this generation consider gender diversity as passé. How important is an employer’s policy on diversity, equality and workforce inclusion when you decide whether or not you should work for them? The millennial generation tends to seek out employers with a strong record on equality and diversity. In particular this is important to the female millennial, with 82% identifying an employer’s policy on diversity, equality and workforce inclusion as important when deciding whether or not to work for an organisation. However, their expectations are not always met in practice; 55% of millennials agree that organisations talk about diversity, but they don’t feel opportunities are really equal for all. 20% 90% 82% 80% 74% 70% 60% 50% 40% 30% 15% 12% 10% 11% 6% 0% Important Neither Female Not Important Male Source: PwC Millennials at work research Organisations talk about diversity, but I do not feel opportunities are really equal for all? 20% 25% Agree 55% Neither Disagree Source: PwC Millennials at work research 12 Creating Tomorrow’s Leaders: the expanding Roles of Millennials in the Workplace, Boston College Center for Work & Family Developing tomorrow’s female leaders 7
  • 8. Employers are too male biased in terms of: Attracting Employees 8% In particular, the perception of gender bias in the workplace remains a concern for female millennials. The female millennial is more likely than her male counterpart to believe that organisations are too male biased when it comes to attraction, developing, and retention. When it comes to promoting internally a significant 29% of female millennials felt employers were too biased towards male employees. Spanish and German employers were seen as the most male biased, while China and Brazil were seen as the least male biased. Successful employers will do more than talk the talk, they will commit to inclusive talent and advancement strategies which demonstrate visible results. Promoting employees from within 16% 17% Developing Employees 10% 29% Retaining employees 19% 10% 18% Source: PwC Millennials at work research Employers are too male biased when promoting from within (those that agree) 0% 10% 20% 30% 40% 24% Total 40% Spain 39% Germany 35% Russia 33% Italy 31% Japan India 14% Netherlands 14% France China Brazil 10% 6% 5% Source: PwC Millennials at work research 8 Developing tomorrow’s female leaders 50%
  • 9. Does your organisation plan to increase its focus on the following priorities over the next 12 months? Board level diversity Workforce diversity and inclusion 33% Do you have the following in place to develop your leadership pipeline? Programme to encourage diversity amongst business leaders 58% 50% Source: PwC 16th Annual Global CEO Survey Difficult questions about diversity: What are you doing to make your workforce more diverse? And how will you utilise the benefits of diversity? Do you have the right role models in place to attract and retain the female millennial? What are you doing to enable objective talent, performance management and career progression systems and processes? Developing tomorrow’s female leaders 9
  • 10. Work life balance and flexibility 1% 2% 5% 97% 93% Important to me Neither % ranking each 1st place 22% 19% 14% Source: PwC Millennials at work research Developing tomorrow’s female leaders 3% 3% 2% 2% 4% 2% 1% higher wages 4% Time off to do community/charity work 5% Access to low interest loans/borrowing options 6% Free child care 6% Subsidised travel costs Free private healthcare Cash bonuses Flexible working hours 0% Training and development 5% Assistance in clearing debts incurred while studying 8% Company car 10% Financial assistance with housing 25% 15% 10 Not important to me Source: PwC Millennials at work research 20% 13 PwC’s NextGen: A global generational study, 2013 2% Male Female Greater vacation allowance This generation can be expected to drive unprecedented work life organisational cultural shifts, given the millennial is typically unmarried (75%) and without kids (92%)13 and the desire for work life balance and flexibility is in high demand from both female and male millennials. Outdated organisational work life strategies that view such topics as solely a female or parent demand will fail to attract or retain millennial talent, male or female. How important is it to you that you have good work life balance? Pension scheme or other retirement funding... Work life balance is important to nearly all millennials, and appears slightly more important to the female millennial with 97% identifying it as important to them and 74% saying it is very important. In addition flexible working hours were preferred over financial benefits when millennials were asked which benefits they would most value from an employer. These findings reinforce the common sentiment that work life balance and flexibility are of high importance to the millennial generation.
  • 11. Likewise, a work life and flexibility strategy over-orientated toward the millennial generation could leave organisations faced with challenges as millennials are not alone in wanting more flexibility. A significant number of employees from all generations feel so strongly about wanting a flexible work schedule that they would be willing to give up pay and delay promotions in order to get it. Would give up some of their pay/slow the pace of promotion in exchange for working fewer hours Employers who get it right will understand the importance of creating a flexible work culture for all genders and generations. The time is here for organisations to recognise work life balance and flexibility as a talent wide proposition. Difficult questions about work life strategies and flexibility: Female Millennial Male Millennial Female Non-Millennial Male Non-Millennial 19.9% 14.3% 17% 13.1% Source: PwC’s NextGen: A global generational study What are you doing to create a culture where performance trumps presence? How will you shift from a culture of work life policies to a culture of work life in practice? How will you transform your work life and flexibility strategies so they are attractive to your complete talent pool? Developing tomorrow’s female leaders 11
  • 12. A Feedback culture One of the strongest millennial traits is that they welcome and expect regular feedback on their job performance. 51% of female millennials said feedback should be given very frequently or continually on the job while only 1% said feedback was not important to them. Setting clear targets and providing regular and structured feedback will be very important to the female millennial. Equally important will be a more progressive approach to feedback, ultimately a focus on feedback that is future orientated14 and gears this talent pool towards future career progression; rather than feedback that is reactive and past orientated. This generation is the most digital and tech-savvy of any generation. An employer’s provision of state-of-the-art technology is important to 59% of millennials when considering a job, although, less important to the female (54%) than the male millennial (64%)15. 40% of female millennials have a preference for the use of electronic communication instead of the telephone or face-to-face conversations when it comes to conversations in the workplace. However, it is important that employers don’t over-emphasise the importance of technology as a communication channel when it comes to performance evaluations, career planning, and compensation. The millennial generation much like their previous generations, value face-to-face time when it comes to these types of important career conversations. 14 Rising Stars, Developing Millennial Women as Leaders, Dr. Elizabeth Kelan 15 Millennials at work: reshaping the workforce. PwC 2011 12 Developing tomorrow’s female leaders
  • 13. How frequently do you believe you should receive feedback from your employer on your performance? 1% 3% Very frequently/continually At the end of a project At formal performance reviews Feedback is not important to me Don't Know 17% 51% 28% Source: PwC Millennials at work research Preference for face-to-face discussions on: Performance Evaluations 93% Compensation Career Plans and Progress 96% 82% Source: PwC’s NextGen: A global generational study Successful employers will be those that can blend advanced technology and communication patterns with a culture of frequent and forward looking career feedback delivered face-to-face. Difficult questions about a feedback culture: What are you doing to create a progressive feedback culture? How will you blend a growing use of modern communication channels with a culture of face-to-face feedback? Developing tomorrow’s female leaders 13
  • 14. To attract, retain and develop female millennials international employers must adopt a modern mobility approach that provides a diversity of mobility solutions and fosters a mobility culture that does not overidentify international assignments with male international assignees. Current International Assignee Population 80% 20% Global careers In an increasingly globalised world, international experience is seen by millennials as a vital element to a successful career. Millennials have a strong appetite for working abroad, with 71% keen to do so at some stage in their career. It is critical that international employers realise that this is not a male phenomenon. Female demand for mobility has never been higher with 69% of female millennials identifying they want to work outside their home country during their career. Given international organisations are placing growing importance on the establishment of leadership teams and an employee base that are globally competent it is no surprise that 63% of women feel international experience is critical to further their career. Despite the number of female assignees doubling in the past decade, women currently make up a meagre 20% of international assignees16. Research identifies that gaining international experience advances women’s and men’s career further and faster, yet the best and brightest female talent are overlooked for these opportunities compared to their male peers17. To attract, retain and develop female millennials international employers must adopt a modern mobility approach that provides a diversity of mobility solutions and fosters a mobility culture that does not over-identify international assignments with male international assignees. Successful international employers will also have a clear understanding of their ‘mobile ready’ population. I would like to work outside my home country during my career 69% I feel international experience is critical to further my career 63% Difficult questions about global careers: What is your organisation doing to create a cadre of leaders with a global mindset? How will you evolve your mobility strategy to meet the dual demands of an increasingly diverse talent pool and a rapidly changing work landscape? What are you doing to make your international assignment programme inclusive to women? And how will this manifest itself in your international assignment programme structure and the selection of international assignees? How will you make sure you always have a current picture of your mobile ready talent pipeline? 16 Talent Mobility, 2020 and beyond, PwC 2012 17 Good intentions, imperfect execution? Women get fewer of the “hot jobs” needed to advance, Catalyst 14 Developing tomorrow’s female leaders
  • 15. Reputation matters Our research into this Millennial generation has told us one thing is clear - millennials want their work to have a purpose, to contribute something to the world and to be proud of their employer. This holds true for both the male and the female millennial. Our research suggests that some companies and sectors will have to work harder in the future to communicate the positive aspects of the employer brand. 58% of millennials said they would avoid working in a particular sector solely because they believe it had a negative image18. Image appears to be a stronger influencer of the female millennial with the image of 9 of 14 sectors less appealing to more women than men. Are there any sectors in which you would not wish to work solely because of their image? (top sectors only shown) Financial Services Oil and Gas Defence Government and Public Services Chemicals Forestry, Paper and Packaging Metals Healthcare Transport and Logistics Industrial Manufacturing Hospitality and Leisure Retail and Consumer Energy, Utilities and Mining Automotive 0% 5% 10% Source: PwC Millennials at work research 15% 20% Female 25% Male 18 Millennials at work, Reshaping the workplace, PwC 2011 Developing tomorrow’s female leaders 15
  • 16. Spotlight on Financial Services The most significant number of women (22%) said they would not like to work in the Financial Services Sector solely because of its image. This presents some unique challenges for the Financial Services Industry. Data from 20 global markets shows women comprise nearly 60% of employees in this industry19. With women making up the majority of this industry, Financial Services organisations will need to focus on retention strategies specifically tailored to this generation of women (and men), or risk a more severe leaking pipeline than they are accustomed to. In tandem, they will need to drive attraction strategies that highlight the benefits of working in this industry combined with an articulation of a strong organisation purpose. A laser focus on leadership diversity and development strategies targeting an enhanced career trajectory for their female talent will also be vital if they are to attract, retain and capitalise on the talents of the female millennial. Otherwise the female millennial will struggle with why they are still faced with the question: if women represent 60% of all financial services employees, why aren’t they rising through the leadership ranks on par with their male counterparts20? Average representation of women in financial services in 20 global marketsSource: 100% 80% 60% 60% 40% 20% 0% 25% % (approximate) of women employees % of women in middle management 19% % of women in senior level positions Source: World Economic Forum, The Corporate Gender Gap Report 2010 19 World Economic Forum, The Corporate Gender Gap Report 2010; Financial services data includes financial institutions and insurance companies 20 Mending the gender gap: Advancing tomorrow’s women leaders in financial services. PwC, 2013 Spotlight on Oil and Gas Next in line is the Oil and Gas sector; 17% of women said they would not like to work in this sector solely because of its image. The challenge for this sector is different than the challenges facing the Financial Services Sector. With women currently making up only a fraction of the global oil and gas workforce21 attraction needs to be front of mind. Globally, engineering positions are currently ranked as the second hardest to fill22, only 27% of STEM (science, technology, engineering, mathematics) graduates in G20 countries are female23 and nearly four times as many 15 year old boys are planning a career in engineering or computing than girls24. This sector needs to start their attraction strategies earlier than most. They also need to consider how they attract talent. PwC research has found there are several negative perceptions of the industry commonly held by women, namely that it is male dominated, involves excessive compulsory travel to remote or challenging locations, requires physical labour better suited to men and a background in STEM25. Meanwhile, women know much less about the more positive aspects of the industry. Organisations in this sector should look to re-evaluate their Employee Value Propositions (EVP) to incorporate a clearer articulation of the positive aspects of the industry such as the opportunity to make a difference with ground-breaking work and the higher than average salaries. The branding of their EVP also requires consideration - for example whether the imagery and language used is overly male orientated. 21 Building talent for the top: A study of women on boards in the oil and gas industry. PwC, 2013 22 Talent Shortage Survey, Manpower Group, 2013 23 Choosing Stem, Wouter Van den Berghe and Dirk De Martelaere, October 2012 24 Education at a Glance 2012, OECD Indicators 25 Building talent for the top: A study of women on boards in the oil and gas industry. PwC, 2013 16 Developing tomorrow’s female leaders
  • 17. Successful employers will have a clear understanding of their sectors’ and organisations’ image and reputation. They will also have a clear picture of their current and future talent pool. To attract the required talent some organisations will need to work harder than others, and others will need to work harder earlier. Irrespective of sector all employers will need to clearly articulate what they are offering a potential employee and know that the messages they send out need to stand-up in reality. Percentage of qualifications awarded to women in tertiarytype A and advanced research programmes, OECD Average Field of Education 2000 2010 Education 74 77 Humanities and arts 65 67 Health and welfare 68 74 Social sciences, business and law 52 58 Services 43 51 Engineering, manufacturing, and construction 23 27 Sciences 40 42 Agriculture 43 54 All fields 54 58 Source: Education at a Glance 2012, OECD Indicators Difficult questions about reputation How are you communicating the positive aspects of your employer brand – and making sure they stand up in reality? What are you doing to adopt your employer brand to this cohort of talent? What will it cost your organisation, if you get your talent pipeline wrong? Developing tomorrow’s female leaders 17
  • 18. Summary The female millennial represents a new era of talent. This talent population is not only entering a workforce that looks different to the workforce her mother and grandmother may, or may not, of entered - she is entering it with a different career mind-set. She is more highly educated, more confident, and more career ambitious than any of her previous generations. Meanwhile, female millennials are estimated to form approximately 25% of the global workforce by 2020. Forming talent strategies tailored for this talent segment will be a vital step to the sustainability of any organisation. If employers are to be successful in capitalising on the strengths of this significant proportion of their current and future talent pool, the status quo will no longer suffice. To truly address the gender leadership gap, organisations must drive parallel efforts which tackle enhanced leadership diversity in conjunction with efforts that develop junior talented women now for future leadership roles. Organisations must be positioned to respond to the core learnings and difficult questions highlighted throughout this report. A commitment to an inclusive culture and inclusive talent processes, policies and programmes will support a business model where all talent can prosper – including the female millennial. When talent rises to the top, everyone wins. To learn more on the female millennial or access any of the PwC publications referenced throughout this report visit: www.pwc.com/IWD 18 Developing tomorrow’s female leaders
  • 19. Lead author Aoife Flood Senior Manager, Global Diversity & Inclusion Programme Office +353 1 7926459 aoife.flood@ie.pwc.com Executive Sponsors Agnès Hussherr Global Diversity and Inclusion Leader Dennis Finn Vice Chairman and Global Human Capital Leader Our team of editors, co-authors and researchers Alina Stefan Global Thought Leadership Dale Meikle Global Diversity & Inclusion Programme Office Leader Dawn Pace Diversity Communications, PwC US Julie Gordon Global Human Capital Director Justine Brown Human Resource Services, PwC UK Nuala Nic Ghearailt Business Strategy Consultant, PwC Ireland Developing tomorrow’s female leaders 19
  • 20. © 2014 PricewaterhouseCoopers. All rights reserved. “PricewaterhouseCoopers” and “PwC” refer to the Irish firm, PricewaterhouseCoopers, One Spencer Dock, North Wall Quay, Dublin 1 (which is authorised by the Institute of Chartered Accountants in Ireland to carry on investment business). “PricewaterhouseCoopers” and “PwC” may also refer to one or more member firms of the network of member firms of PricewaterhouseCoopers International Limited (PwCIL), each of which is a separate legal entity. PricewaterhouseCoopers does not act as agent of PwCIL or any other member firm nor can it control the exercise of another member firm’s professional judgement or bind another firm or PwCIL in any way.