CFD 425 - Gender Intelligence Leads to Breakthrough Growth
Richard Nesbitt shows you how to immediately improve the results of your business by using gender intelligence to create massive growth.
Richard Nesbitt is the President and CEO of Global Risk Institute and an Adjunct Professor at the Rotman School of Management of the University of Toronto. He was the former CEO of CIBC World Markets, TSX Group and HSBC Securities Canada. He is the author of the new book Results at the Top: Using Gender Intelligence to Create Breakthrough Growth.
Podcast Highlights
- Who is Richard Nesbitt?
Richard was born and raised on a farm, and through his education and persistence has managed to get where he is today.
There is no substitute for hard work is a very traditional approach but it’s true. Hard work is the great leveler.
- What is gender intelligence?
Gender intelligence is essentially taking the talent of both genders and using that to improve your business. The combination of both talents is superior than just utilizing one or the other.
Gender intelligence in leadership can improve dividends, earnings, cash flow, and stock prices. It can also improve employee satisfaction, innovation, and the company’s environmental record.
- Why is it less common to see women in leadership positions?
The research in gender intelligence is only around 20 years old, so it’s taking time to filter down into the culture of business.
Research has shown that as you get towards gender parity in leadership, you will see an improve across the board.
- How significant is the improvement?
Getting closer to gender parity in leadership can significantly improve earnings. According to research, at 30% of the board being the opposite gender is where you will see significant gains but, just adding a single board member of the opposite gender can lead to immediate improvements.
- How did you come up with the idea for the book?
The book was originally addressed to men and how they could improve their companies.
The dynamics of men and women in leadership is an evolving trend. Richard’s book was an effort to organize the research and provide a resource for every business to leverage.
- How does this impact equal pay?
Women are paid less than men on aggregate, due to not being represented in all areas in business. By focusing on bringing women into these leadership roles, we can help close the gap.
- What can entrepreneurs do to make sure they don’t end up in this situation?
Entrepreneurs need to understand that gender balance is an important issue in the success of their business.
It’s important to always hire the best person, but you have to get out of your comfort zone and consider the the benefits of a diverse set of candidates. Look outside of your traditional sources. Gender intelligence should be a priority item on your list.
- How can business owners begin implementing gender intelligence?
CEO’s have to make this a goal they are going to achieve in their lifetime. Prepare for the expiration of a director’s term limit instead of being caught off guard and replacing them with someone just like you.
Gender diversity is one of the lowest cost things you can do to improve your company’s results.
Reference: Results at the Top: Using Gender Intelligence to Create Breakthrough Growth, Richard Nesbitt
- Richard’s Takeaway
Think very carefully before you act about what you are trying to achieve and ensure you are trying to achieve it for the right reasons. Examine your own preconceptions about why you do what you do, become curious about the research and once you ar