Muriel de Saint Sauveur, director for diversity, Mazars  discusses the need to foster gender diversity, in an endeavour to drive business growth

How, according to you, can gender diversity drive business growth?

Diversity is beneficial to both - the organisation and employees. It helps in better decision-making and improved problem-solving, fostering greater creativity and innovation. Simply recognising diversity in a company helps link a variety of talent within the organisation. Bringing together the talent of women and men would result in professionalism and profitability.

How can gender diversity in businesses enhance financial development across socio-cultural milieus?

Both women and men bring different experiences and perspectives to the table. They are socialised into different roles, social areas and positions and therefore, add different experiences and values to the decision-making process. Respecting individual differences will benefit the workplace by creating a competitive edge and increasing work productivity. A diverse workforce is a reflection of a changing world and marketplace. Diverse work teams bring high value to the organisation. Diversity creates a fair and safe environment where everyone has access to different opportunities and challenges.

What, according to you, should be done to bring more women on corporate boards?

Women are underrepresented on corporate boards. Sweden has been ranked first with 17 per cent of women on management boards, 14 per cent for the US, 7 per cent for France, 6 per cent for Spain, and 2 per cent for Germany and India each.

The following could help have more representation of women on corporate boards:

• Build the leadership pipeline through advocacy and mentorship;
• Each board of director and corporate leader should help identify senior women in their organisation and help them gain the visibility necessary to become a board director;
• Assure every director's position includes at least one woman;
• Executive search firms, succession planners and boards themselves must commit to including at least one woman;
• Consider board diversity a necessary component of good governance;
• Every woman and man who chooses not to accept a board position that has been offered to her/him should recommend a woman in her/his place.
• What ways can organisations resort to, in order to ensure promotion of gender diversity?

Organisations can promote gender diversity through the following measures:

• Foster a culture of inclusion as a business imperative and recognise gender inclusivity as a key factor in organisational agility, innovation and success;
• Remain open to accepting the different capabilities that women bring into the workplace and create a nurturing environment for them to take leadership roles;
• Introduce policies and processes that spur women participation, especially at the higher levels of decision-making;
• Showcase "role models" to encourage younger women to aspire for leadership positions to remain diverse and gender inclusive.
   

- Sheetal Srivastava

The writer can be reached at sheetal.srivastava@timesgroup.com