fifteen years ago I thought that the diversity stuff the women’s stuff was
diversity stuff the women’s stuff was
diversity stuff the women’s stuff was not something I had to worry about it
not something I had to worry about it
not something I had to worry about it was something an older generation had to
was something an older generation had to
was something an older generation had to fight for in my university we were 50/50
fight for in my university we were 50/50
fight for in my university we were 50/50 male-female and we women tended to have
male-female and we women tended to have
male-female and we women tended to have the better grades so well not everything
the better grades so well not everything
the better grades so well not everything was perfect diversity in leadership
was perfect diversity in leadership
was perfect diversity in leadership positions was something that would
positions was something that would
positions was something that would happen naturally over time right not
happen naturally over time right not
happen naturally over time right not quite
quite
quite while moving up the ladder BC making it
while moving up the ladder BC making it
while moving up the ladder BC making it to partner I started to realize how
to partner I started to realize how
to partner I started to realize how often I was the only women in the room
often I was the only women in the room
often I was the only women in the room and how am a genius leadership still is
and how am a genius leadership still is
and how am a genius leadership still is many leaders I met sort of diversity has
many leaders I met sort of diversity has
many leaders I met sort of diversity has something to comply with out of
something to comply with out of
something to comply with out of political correctness or in this case
political correctness or in this case
political correctness or in this case the right thing to do but not as a
the right thing to do but not as a
the right thing to do but not as a business priority they just did not have
business priority they just did not have
business priority they just did not have a reason to believe that diversity would
a reason to believe that diversity would
a reason to believe that diversity would help them achieve their most immediate
help them achieve their most immediate
help them achieve their most immediate pressing goals hitting the numbers
pressing goals hitting the numbers
pressing goals hitting the numbers delivering the new product the real
delivering the new product the real
delivering the new product the real goals they get measured by my personal
goals they get measured by my personal
goals they get measured by my personal experience had been working and stuffing
experience had been working and stuffing
experience had been working and stuffing diverse teams that while requiring a
diverse teams that while requiring a
diverse teams that while requiring a little bit more effort at the beginning
little bit more effort at the beginning
little bit more effort at the beginning diverse teams tended to bring fresher
diverse teams tended to bring fresher
diverse teams tended to bring fresher more creative ideas so I wanted to know
more creative ideas so I wanted to know
more creative ideas so I wanted to know are more diverse organizations really
are more diverse organizations really
are more diverse organizations really more innovative and can diversity be
more innovative and can diversity be
more innovative and can diversity be something more than political
something more than political
something more than political correctness and really become a real
correctness and really become a real
correctness and really become a real competitive advantage for organizations
competitive advantage for organizations
competitive advantage for organizations so to find out we set up a study with
so to find out we set up a study with
so to find out we set up a study with the Technical University of Munich we
the Technical University of Munich we
the Technical University of Munich we surveyed I hope this works
surveyed I hope this works
surveyed I hope this works oh it works great we surveyed 171
oh it works great we surveyed 171
oh it works great we surveyed 171 companies in Germany Austria and
companies in Germany Austria and
companies in Germany Austria and Switzerland and as we speak were
Switzerland and as we speak were
Switzerland and as we speak were expanding the study to five additional
expanding the study to five additional
expanding the study to five additional countries and an additional thousand 500
countries and an additional thousand 500
countries and an additional thousand 500 companies we asked those companies
companies we asked those companies
companies we asked those companies basically two things
basically two things
basically two things how innovative they are and how diverse
how innovative they are and how diverse
how innovative they are and how diverse they are to measure the first one to
they are to measure the first one to
they are to measure the first one to measure innovation we asked for
measure innovation we asked for
measure innovation we asked for innovation revenues innovation revenues
innovation revenues innovation revenues
innovation revenues innovation revenues are the share of revenues they’ve made
are the share of revenues they’ve made
are the share of revenues they’ve made from new products and services in the
from new products and services in the
from new products and services in the last three years so we did not ask the
last three years so we did not ask the
last three years so we did not ask the companies how many creative ideas they
companies how many creative ideas they
companies how many creative ideas they have or how much they spend in
have or how much they spend in
have or how much they spend in creativity but rather if all of that
creativity but rather if all of that
creativity but rather if all of that translates into products and services
translates into products and services
translates into products and services that make the company more successful
that make the company more successful
that make the company more successful today and tomorrow to measure the second
today and tomorrow to measure the second
today and tomorrow to measure the second one to mention diversity we hadn’t
one to mention diversity we hadn’t
one to mention diversity we hadn’t looked at six factors migration
looked at six factors migration
looked at six factors migration background age education and gender as
background age education and gender as
background age education and gender as well amongst others and we asked which
well amongst others and we asked which
well amongst others and we asked which percent of the management including
percent of the management including
percent of the management including middle management possess such
middle management possess such
middle management possess such characteristics while preparing to go in
characteristics while preparing to go in
characteristics while preparing to go in the field with with those questions I am
the field with with those questions I am
the field with with those questions I am with the team to discuss well what do
with the team to discuss well what do
with the team to discuss well what do respect us our resolved and we were not
respect us our resolved and we were not
respect us our resolved and we were not optimistic to put it mildly the most
optimistic to put it mildly the most
optimistic to put it mildly the most skeptics on the team they saw a real
skeptics on the team they saw a real
skeptics on the team they saw a real possibility that nothing would come out
possibility that nothing would come out
possibility that nothing would come out of this and most of the team was rather
of this and most of the team was rather
of this and most of the team was rather on the cautious side so we landed all
on the cautious side so we landed all
on the cautious side so we landed all together at only if meaning that we
together at only if meaning that we
together at only if meaning that we probably will not find any kind of
probably will not find any kind of
probably will not find any kind of relationship between diversity and
relationship between diversity and
relationship between diversity and innovation across the board
innovation across the board
innovation across the board but rather only if certain criteria are
but rather only if certain criteria are
but rather only if certain criteria are met for example a very open leadership
met for example a very open leadership
met for example a very open leadership style that allows leaders to contribute
style that allows leaders to contribute
style that allows leaders to contribute and speak up freely
and speak up freely
and speak up freely a couple of months later the data came
a couple of months later the data came
a couple of months later the data came in and the results convinced the most
in and the results convinced the most
in and the results convinced the most skeptical amongst us the answer was a
skeptical amongst us the answer was a
skeptical amongst us the answer was a clear yes no ifs no buts
clear yes no ifs no buts
clear yes no ifs no buts companies that are more diverse are in
companies that are more diverse are in
companies that are more diverse are in our sample clearly more innovative
our sample clearly more innovative
our sample clearly more innovative period now a fair question to ask is the
period now a fair question to ask is the
period now a fair question to ask is the chicken or the egg question meaning our
chicken or the egg question meaning our
chicken or the egg question meaning our company’s really more innovative because
company’s really more innovative because
company’s really more innovative because they are more diverse or the other way
they are more diverse or the other way
they are more diverse or the other way around which way is it
around which way is it
around which way is it now we do not know how much is pure
now we do not know how much is pure
now we do not know how much is pure correlation versus causation but what we
correlation versus causation but what we
correlation versus causation but what we do know is that in our data clearly
do know is that in our data clearly
do know is that in our data clearly companies that are more diverse are more
companies that are more diverse are more
companies that are more diverse are more innovative and if we take the companies
innovative and if we take the companies
innovative and if we take the companies that are higher on the innovation side
that are higher on the innovation side
that are higher on the innovation side they are more diverse – so it’s fair to
they are more diverse – so it’s fair to
they are more diverse – so it’s fair to assume that it works both ways
assume that it works both ways
assume that it works both ways diversity drive an innovation and
diversity drive an innovation and
diversity drive an innovation and innovation driving diversity once that
innovation driving diversity once that
innovation driving diversity once that we publish the results we were surprised
we publish the results we were surprised
we publish the results we were surprised at the reaction in the medium we got
at the reaction in the medium we got
at the reaction in the medium we got quite some attention and it went from
quite some attention and it went from
quite some attention and it went from quite factual as you can see higher
quite factual as you can see higher
quite factual as you can see higher female share boost innovation to more
female share boost innovation to more
female share boost innovation to more sensationalist titles like estate at
sensationalist titles like estate at
sensationalist titles like estate at home women cost trillions and my
home women cost trillions and my
home women cost trillions and my personal favorite housewives kill
personal favorite housewives kill
personal favorite housewives kill innovation
now there’s no such thing as bad
now there’s no such thing as bad publicity right so as you can see that I
publicity right so as you can see that I
publicity right so as you can see that I mentioned generating the most
mentioned generating the most
mentioned generating the most controversy was gender and on the back
controversy was gender and on the back
controversy was gender and on the back of that coverage we started to get calls
of that coverage we started to get calls
of that coverage we started to get calls from senior executives wanting to
from senior executives wanting to
from senior executives wanting to understand more surprise surprise about
understand more surprise surprise about
understand more surprise surprise about gender diversity I tend to start those
gender diversity I tend to start those
gender diversity I tend to start those discussions asking those senior
discussions asking those senior
discussions asking those senior executives well what do you think at the
executives well what do you think at the
executives well what do you think at the situation in your organization today and
situation in your organization today and
situation in your organization today and a frequent reaction I got was well we’re
a frequent reaction I got was well we’re
a frequent reaction I got was well we’re not yet there but we’re not that bad
not yet there but we’re not that bad
not yet there but we’re not that bad so one executive told me for example oh
so one executive told me for example oh
so one executive told me for example oh we’re not that bad at all one of the
we’re not that bad at all one of the
we’re not that bad at all one of the members in our board is a woman now and
members in our board is a woman now and
members in our board is a woman now and that might sounds weird to you but he
that might sounds weird to you but he
that might sounds weird to you but he had a point in being proud about that
had a point in being proud about that
had a point in being proud about that because in Germany if you have one women
because in Germany if you have one women
because in Germany if you have one women in your board you’re part of a select
in your board you’re part of a select
in your board you’re part of a select group of thirty out of the hundred
group of thirty out of the hundred
group of thirty out of the hundred largest publicly listed companies in
largest publicly listed companies in
largest publicly listed companies in Germany the other seventy have an
Germany the other seventy have an
Germany the other seventy have an all-male board and not even one of this
all-male board and not even one of this
all-male board and not even one of this 100 largest publicly listed companies in
100 largest publicly listed companies in
100 largest publicly listed companies in Germany have a single female CEOs of
Germany have a single female CEOs of
Germany have a single female CEOs of today but here’s what really matters all
today but here’s what really matters all
today but here’s what really matters all those few single female board members
those few single female board members
those few single female board members alone they won’t make a difference our
alone they won’t make a difference our
alone they won’t make a difference our data shows that for gender diversity to
data shows that for gender diversity to
data shows that for gender diversity to have an impact on innovation you need to
have an impact on innovation you need to
have an impact on innovation you need to have more than 20% women’s in management
have more than 20% women’s in management
have more than 20% women’s in management to see a difference let’s have a look at
to see a difference let’s have a look at
to see a difference let’s have a look at the data we divided in our study our
the data we divided in our study our
the data we divided in our study our sample in three groups and as you can
sample in three groups and as you can
sample in three groups and as you can see the results are quite dramatic only
see the results are quite dramatic only
see the results are quite dramatic only in the group where you have more than
in the group where you have more than
in the group where you have more than 20% women and leadership only there we
20% women and leadership only there we
20% women and leadership only there we see a clear jump in innovation revenue
see a clear jump in innovation revenue
see a clear jump in innovation revenue to above-average levels which basically
to above-average levels which basically
to above-average levels which basically means that you do need critical mass to
means that you do need critical mass to
means that you do need critical mass to move the needles and companies like JP
move the needles and companies like JP
move the needles and companies like JP Morgan Alibaba or even Apple are already
Morgan Alibaba or even Apple are already
Morgan Alibaba or even Apple are already above that threshold as of today another
above that threshold as of today another
above that threshold as of today another reaction I got quite a lot was
reaction I got quite a lot was
reaction I got quite a lot was let’s not be too impatient this this
let’s not be too impatient this this
let’s not be too impatient this this will get solved by itself over time and
will get solved by itself over time and
will get solved by itself over time and and I have all the sympathy in the world
and I have all the sympathy in the world
and I have all the sympathy in the world for this point of view because I used to
for this point of view because I used to
for this point of view because I used to think like that too now let’s have a
think like that too now let’s have a
think like that too now let’s have a look at the facts now and first let me
look at the facts now and first let me
look at the facts now and first let me give you the good news so the share of
give you the good news so the share of
give you the good news so the share of women that are college graduates and
women that are college graduates and
women that are college graduates and have ten years of professional
have ten years of professional
have ten years of professional experience has grown very nicely over
experience has grown very nicely over
experience has grown very nicely over time as you can see which is great and
time as you can see which is great and
time as you can see which is great and which means the pond the pool in which
which means the pond the pool in which
which means the pond the pool in which to fish for five men for female leaders
to fish for five men for female leaders
to fish for five men for female leaders has increased nicely now according to my
has increased nicely now according to my
has increased nicely now according to my old theory
old theory
old theory the share of women in leadership would
the share of women in leadership would
the share of women in leadership would have increased more or less in parallel
have increased more or less in parallel
have increased more or less in parallel right now let’s have a look at what
right now let’s have a look at what
right now let’s have a look at what happened in reality and these are the
happened in reality and these are the
happened in reality and these are the German numbers it’s not even close so as
German numbers it’s not even close so as
German numbers it’s not even close so as you can see the share of women in
you can see the share of women in
you can see the share of women in management in Germany has remained more
management in Germany has remained more
management in Germany has remained more or less constant over the last twenty
or less constant over the last twenty
or less constant over the last twenty years which means I was completely wrong
years which means I was completely wrong
years which means I was completely wrong and which means as well that my
and which means as well that my
and which means as well that my generation the best female educated
generation the best female educated
generation the best female educated generation in history we just have not
generation in history we just have not
generation in history we just have not made it we have failed to achieve
made it we have failed to achieve
made it we have failed to achieve leadership in significant numbers and
leadership in significant numbers and
leadership in significant numbers and education has just not magically
education has just not magically
education has just not magically translated into leadership now that was
translated into leadership now that was
translated into leadership now that was a painful realization for me personally
a painful realization for me personally
a painful realization for me personally and it made me realise that if we want
and it made me realise that if we want
and it made me realise that if we want to change this we need to engage and we
to change this we need to engage and we
to change this we need to engage and we need to do better now the question is of
need to do better now the question is of
need to do better now the question is of course what to do
course what to do
course what to do achieving 20% women in leadership or
achieving 20% women in leadership or
achieving 20% women in leadership or even more seems like a daunting task to
even more seems like a daunting task to
even more seems like a daunting task to many understandably given the track
many understandably given the track
many understandably given the track record but they’re companies that are
record but they’re companies that are
record but they’re companies that are making progress that are doing it
making progress that are doing it
making progress that are doing it successfully if we take for example is
successfully if we take for example is
successfully if we take for example is ApS an example the software company they
ApS an example the software company they
ApS an example the software company they were in 2011 and 19% women in leadership
were in 2011 and 19% women in leadership
were in 2011 and 19% women in leadership yet they decided to do better and so
yet they decided to do better and so
yet they decided to do better and so they did what you do in any other area
they did what you do in any other area
they did what you do in any other area of business where you want to improve
of business where you want to improve
of business where you want to improve they said measurable target and they put
they said measurable target and they put
they said measurable target and they put measures behind it now these
measures behind it now these
measures behind it now these self-imposed calls made them think more
self-imposed calls made them think more
self-imposed calls made them think more creatively about recruiting pools about
creatively about recruiting pools about
creatively about recruiting pools about new recruiting pools and especially
new recruiting pools and especially
new recruiting pools and especially about developing new leaders and as we
about developing new leaders and as we
about developing new leaders and as we speak they have set himself a target of
speak they have set himself a target of
speak they have set himself a target of 30% women in leadership for 2022 so
30% women in leadership for 2022 so
30% women in leadership for 2022 so experience shows it’s doable and at the
experience shows it’s doable and at the
experience shows it’s doable and at the end of the day it all burns down to two
end of the day it all burns down to two
end of the day it all burns down to two decisions that are taken every day in
decisions that are taken every day in
decisions that are taken every day in every organization by many of us who to
every organization by many of us who to
every organization by many of us who to hire and who to develop and promote now
hire and who to develop and promote now
hire and who to develop and promote now nothing against women’s networks
nothing against women’s networks
nothing against women’s networks trainings mentoring programs it’s all
trainings mentoring programs it’s all
trainings mentoring programs it’s all good but at the end of the day it’s two
good but at the end of the day it’s two
good but at the end of the day it’s two decisions hiring and promotion that sent
decisions hiring and promotion that sent
decisions hiring and promotion that sent the most powerful change signal in any
the most powerful change signal in any
the most powerful change signal in any organization now I never set out to be a
organization now I never set out to be a
organization now I never set out to be a diversity advocates but here I am I’m
diversity advocates but here I am I’m
diversity advocates but here I am I’m actually a management consultant but now
actually a management consultant but now
actually a management consultant but now my goal is to change the face of
my goal is to change the face of
my goal is to change the face of leadership to make it more diverse and
leadership to make it more diverse and
leadership to make it more diverse and not so that leaders can check a box and
not so that leaders can check a box and
not so that leaders can check a box and feel like they’ve been political correct
feel like they’ve been political correct
feel like they’ve been political correct or complied with something but because
or complied with something but because
or complied with something but because they understand they understand the
they understand they understand the
they understand they understand the diversity not only gender diversity but
diversity not only gender diversity but
diversity not only gender diversity but all of their mentions of diversity make
all of their mentions of diversity make
all of their mentions of diversity make the organization more innovative better
the organization more innovative better
the organization more innovative better and by embracing diversity by embracing
and by embracing diversity by embracing
and by embracing diversity by embracing diverse talent we are providing true
diverse talent we are providing true
diverse talent we are providing true opportunity for all thank you
opportunity for all thank you
opportunity for all thank you [Applause]
”
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