Companies with women on their board room roster have 'consistently outperformed' those led only by male directors, according to a new survey by the Credit Suisse Research Institute.
Figures cited by hrmagazine.co.uk show that for having greater number of women in board rooms could be beneficial for investors, too. Companies with at least one woman on the board would have outperformed stocks with no women on the board by 26 per cent over the course of the last six years.
Furthermore, gender diverse boards showed better than average growth compared to male-only boards, highlighting why promoting women to the board could be beneficial for firms navigating through uncertainty, as turnover grew by 14 per cent over six years.
Professor Katherine Phillips, the Paul Calello Professor of leadership and ethics at Columbia Business School New York, commented on the survey on peoplemanagement.co.uk: "Given trends in globalisation, immigration and demographics, the composition of the workforce is likely to look very different in the long run. Greater diversity suggests a change in the working environment to adapt to the needs of different people.
"Companies that can do this better are more likely to attract the best talent, no matter who that talent is and that should be a strategic advantage for the company." she added.