To mark International Women’s Day on Saturday 8th March 2014, PwC releases a report focusing on what organisations can do to create the right environment for millennial women to flourish in the workplace.
The report Next generation diversity – Developing tomorrow’s female leaders identifies six key themes which are integral to the successful attraction, retention and development of the female millennial.
This complements other research carried out by PwC on the millennial generation (see notes for more detail). Our observations have been fine-tuned to focus on the female part of this generation – helping us to better understand how millennial women can be developed into the leaders of tomorrow.
Some highlights of the PwC report include:
Dennis Nally, Chairman of PricewaterhouseCoopers International, says:
“Diversity is a key issue for us, which is why we were keen to focus on female millennials. We recruit a rich diversity of talent every year from schools across the world, including thousands of very talented millennial women. We want to think about the environment that will help those women succeed now so that they’re primed for leadership in the future.”
Agnes Hussherr, Global Diversity and Inclusion Leader, PricewaterhouseCoopers International, adds:
“To achieve sustainable change, a focus on women in leadership is not enough. We must tackle diversity at a leadership level but also focus efforts on our workforce from day one. But to get this right, we must first better understand how to attract, develop, and retain millennial women.”
In addition we also release our second Women in Work Index. This index ranks 27 OECD countries on a measure that combines five key indicators of female economic empowerment: the equality of earnings with men; the proportion of women in work, both in absolute terms and relative to men; the female unemployment rate; and the proportion of women in full-time employment.
The Nordic countries continue to lead the Index, with Norway still taking pole position, followed by Denmark and Sweden. These three countries have consistently occupied the top three positions in the Index ever since 2000, the first year for which it has been calculated (see table in notes for detailed country rankings over time).
Norway leads the way due to its low levels of female unemployment and low gender pay gap. The economic crisis continues to take its toll on the absolute performance in the southern European countries. Portugal, Spain and Greece all saw their gender wage gaps widen and female unemployment rates increase in 2012, reflecting more general economic weakness in these countries.
The two Asian countries represented in this Index, Korea and Japan, still have a long way to go before they catch up with the rest of the OECD. Although these two countries have made progress in absolute terms since 2000, other countries have made even more significant gains. The relatively high gender wage gaps and low rates of female labour force participation underlie their poor performance.
The Netherlands and Ireland have made the biggest progress on the Index since last year, with both countries moving up five positions, due in large part to narrower gender wage gaps.