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28 August 2013

Spotlight on Russia – Women leaders in Russian business

This week’s Gender Agenda blog shares some recent thought leadership from our Russian firm. The study entitled Women Leaders in Russian Business included both quantitative and qualitative research methods incorporating 200 female Russian business leaders.

The female respondents were asked to identify the level of gender diversity on their company boards. The results were mixed with almost half of the companies having no gender diversity on their boards. 19% of the represented companies had 2-3 women, and 6% had more than three women represented on their board.

Female-representation-on-boards

When it comes to board diversity -- the number three has been identified as somewhat of a magic number -- with research indicating that gender diverse boards (boards with 3 or more women or with 33% female representation) lead to many performance and financial benefits. For example Catalyst research suggests that gender diverse boards have better return on equity, better return on sales, better return on invested capital, and better financial results. While Gender Worx research found gender diverse boards add greater decision making value, demonstrate greater evidence of diversity of thought and perspective, and at the same time, greater unity and collegiality. Interestingly 47% of the female leaders represented in this study believe boards should have representation by way of 4-5 women.

The respondents identified the top ten most important skills for career advancement; strong working ability, responsibility, strategic vision and systemic thinking and sociability were identified as the most important for the career advancement of women in business in Russia.

Top-ten-skills

Further highlights from the research study are outlined below:

  • Women under 35 responded as the most career-orientated; more than 65% indicating they intend to continue their career and professional growth. Focus on career growth decreases with age.
  • Half of all respondents are primarily in charge of other women, while almost 15% primarily manage men.
  • 77% of respondents dedicate more time to personal health than they did 5-10 years ago and 55% of respondents dedicate more time to their leadership roles.
  • 90% of women leaders are satisfied with the professional side of their lives.
  • The majority of respondents cited family as both a motivating factor and an obstacle to career growth.

The infographic below shares a portrait of a modern Russian female leader based on the profile of the 200 research respondents.

Portrait-of-modern-russian-female-business-leader

For more information on the Women Leaders in Russian Business report, please visit: http://www.pwc.ru/en/hr-consulting/women-in-business.jhtml.

Aoife

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