Aviation Leadership for Women

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1 Aviation Leadership for Women Wednesday, October 17, Hillary O Connor Mueri Toro

2 US Navy Photo H. Mueri US Navy Photo H. Mueri Connect with us socially #NBAA18 2

3 Sources: The New York Times, 5 Jun 2018; Skrift, 4 Jun 2018; PBS News Hour, 11 Feb 2018; The Telegraph, 17 Aug 2017; The Guardian, 31 Jan 2014 Connect with us socially #NBAA18 3

4 Aviation Leadership for Women Topics The state of women in aviation leadership Skills & attitudes that can help develop and advance women leaders Why should we increase representation of women in aviation leadership? How can we increase representation of women in aviation leadership? Who can help increase representation of women in aviation leadership? Please have your apps ready for polling questions Connect with us socially #NBAA18 4

5 What is the problem? Women in Aviation Business Leadership Connect with us socially #NBAA18 5

6 Poll: Are there enough women in aviation senior management? a. I think there are too many women in aviation senior management. b. Things are fine the way they are. If it ain t broke, don t fix it. c. Sure, more women in aviation leadership would be good, but it s not worth a lot of money or effort. d. I want to see more women in leadership and think that aviation companies ought to be doing more. e. We need to be elevating women to senior leadership, and aviation companies should make it a top priority. Connect with us socially #NBAA18 6

7 The Funnel Effect Scarcity of Women in Top Leadership CEOs 3.0% 4.6% Top Earners Board Seats 11.0% 16.0% 21.2% Exec / Senior-Level Officials & Mgrs 11.0% 26.5% First / Mid-Level Officials and Mgrs Total Employees Work Force Participants 36.9% 40.0% 44.7% 47.0% 47% 47.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% Aviation Industry S&P 500 Sources: Catalyst, Women CEOs of the S&P 500 (2017); EY Center for Board Matters, 2016 Top Earners in S&P 500 Companies; Catalyst, 2016 Catalyst Census: Women and Men Board Directors (2017); US EEOC 2015 S&P 500 EEO-1 data; Eurostat, Women in Transport (2017); EY Corporate Governance Center, 2013 Diversity Drives Diversity Connect with us socially #NBAA18 7

8 Women in Senior Executive Roles 35% 32% 30% 25% 23% 20% 19% 15% 10% 5% 12% 3% 3% 9% 8% 0% CEO COO CFO HR Dir. Aviation Other industries Sources: IATA, International Women s Day 2018 Aviation has further to go (2018); Grant Thornton, Women in business: New perspectives on risk and reward (2017) Connect with us socially #NBAA18 8

9 Why does it matter? The Case for Women in Aviation Business Leadership Connect with us socially #NBAA18 9

10 Poll: Does having women leaders positively affect a company s financial success? a. Women s initiatives are a waste of money. b. They may break even, but are more trouble than they re worth. c. I really don t care. This looked like a quiet place to sit for a while. d. More women in leadership is a net positive at least some times. e. Women make it rain. Connect with us socially #NBAA18 10

11 Companies With Women Leaders Perform Better 18.0% Catalyst (S&P 500) 18.0% Credit Suisse (3k+ firms globally) 16.0% 14.0% +46% MSCI (1.6k+ globally) 16.0% 14.0% +19% 12.0% 12.0% 12.0% 10.0% 10.0% +36.5% 10.0% 8.0% 6.0% 4.0% 10.5% 15.3% 8.0% 6.0% 4.0% 7.4% 10.1% 8.0% 6.0% 4.0% 13.0% 15.3% 2.0% 2.0% 2.0% 0.0% 0 Directors 3+ Directors 0.0% 0 Women Directors 3+ Dir (or 1 dir+ CEO) 0.0% Sr. mgmt <10% Sr. mgmt. >15% ROE Premium Sources: Catalyst, The Bottom Line: Corporate Performance and Women s Representation on Boards , 2011; MSCI, Women on Boards, Nov. 2015; Credit Suisse Research Institute, The CS Gender 3000: The Reward for Change, Sept ; EY, Women. Fast Forward, 2015; McKinsey & Co., How to accelerate gender diversity on boards, Jan. 2017; Hong, L., Page, S.E., Groups of diverse problem solvers can outperform groups of high-ability problem solvers, 2004 Connect with us socially #NBAA18 11

12 Balanced Teams Perform Better Connect with us socially #NBAA18 12

13 Women Help Solve Personnel Shortages Connect with us socially #NBAA18 13

14 Poll: Do we need to take additional action to increase the number of women in leadership positions? a. We need to decrease the number of women in leadership. b. I m still not interested in increased numbers of women aviation leaders. c. It ll work itself out over time. We re doing as much as we need to do. d. Speeding things up would be nice but at least I can expect my grandchildren to live in an equal world. e. It really feels like we re going backwards. We need to prioritize women in aviation leadership. Connect with us socially #NBAA18 14

management Predicted Global Economic Parity 1941-1943 2185 1802 2018 2234 % of women aviation employees in the US explodes from 1% to

15 Action is required to achieve parity Women s economic rights nearly nonexistent could not own property, keep own wages, sign contracts, or vote Women are de facto excluded from leadership Composing nearly half the work force but less than one twentieth of it s uppermost management Predicted Global Economic Parity % of women aviation employees in the US explodes from 1% to 65% Predicted Economic Parity in North America Sources: World Economic Forum, Global Gender Gap Report (2017); Life Magazine (9 Aug. 1943)

16 How do we get there? Eliminating Barriers to Women in Aviation Business Leadership Connect with us socially #NBAA18 16

17 Barriers to the Advancement of Women Leaders Internal Structural Societal Governmental Source: Federal Glass Ceiling Commission (1995) Connect with us socially #NBAA18 17

18 Barriers to the Advancement of Women Leaders Internal Structural Societal Governmental Connect with us socially #NBAA18 18

for women Societal Women aren't recruited (restrictive

19 Women don t advance (Pipeline Barriers) Internal Structural Women avoid or abandon aviation Perception aviation isn t for women Societal Women aren't recruited (restrictive outreach & recruitment practices) Connect with us socially #NBAA18 19

20 Overly narrow focus on conventional sources and experience Unconscious bias in recruitment process Other practices that limit outreach & recruitment to women candidates Internal Structural Barriers Restrictive outreach and recruitment practices Pipeline barriers Clustering in jobs that are not leadership track Other internal practices that limit advancement Lack of mentoring, training, & career development opportunities Source: Federal Glass Ceiling Commission (1995) Connect with us socially #NBAA18 20

21 Roadmap for Eliminating Internal Structural Barriers Expand outreach & recruitment practices Seek candidates from noncustomary backgrounds Set objective policies for candidate evaluation Cultivate long-term relationships with candidates Reduce pipeline barriers Expand women's access to core areas of business Adopt life- and familyfriendly policies Establish mentoring programs Exhibit visible commitment to change Set company-wide policies that actively promote diversity Include diversity in all strategic business plans Hold managers at all levels accountable for progress Sources: Federal Glass Ceiling Commission (1995); McKinsey & Co., How to accelerate gender diversity on boards, (Jan. 2017) Connect with us socially #NBAA18 21

22 Masters Degrees by Sex 120% Expand outreach & recruitment practices Seek candidates from noncustomary backgrounds 100% 80% 60% 40% 35% 39% 48% 50% 64% Set objective policies for candidate evaluation Cultivate long-term relationships with candidates 40% 20% 0% 60% 65% 61% 52% 50% 36% All Grad Deg M. Mktg M. Acctg M. Mgmt JD MBA Female Male Source: Concordia University St. Paul, It s a Woman s Business (2017) Connect with us socially #NBAA18 22

23 Connect with us socially #NBAA18 23

24 Who can help us get there? Networks for Women in Aviation Leadership Connect with us socially #NBAA18 24

25 Poll: I enjoy professional networking. a. Bah, humbug. b. I know I m supposed to, but I ll do my best to have other plans. c. Why not? d. It can be fun and educational. I m down. e. Networking! Let s do it! The more the better! Hey, can I give you my card? Connect with us socially #NBAA18 25

26 A key reason why women lag behind in leadership is that they are less likely to have extensive networks to support and promote them as potential leaders.networking with more senior representatives has its benefits. Having access to a powerful spokesperson and building your connections is one way of working toward extending your network." Source: Vongalis-Macrow, A., Assess the Value of your Networks, Harvard Business Review (2012) Connect with us socially #NBAA18 26

27 Business Networks Personal Operational Strategic Manage current responsibilities Boost professional development Create leadership opportunity Connect with us socially #NBAA18 27

28 Business Networks Personal Operational Strategic Manage current responsibilities Boost professional development Create leadership opportunity Connect with us socially #NBAA18 28

29 How can businesses help women network? Connect with us socially #NBAA18 29

30 Mentoring Connect with us socially #NBAA18 30

31 ? Connect with us socially #NBAA18 31

32 Takeaways For Business Aviation businesses have fewer women in leadership than other sectors despite correlation between women leaders and increased financial success Treat diversity as a business strategy Expand outreach & recruitment, reduce pipeline barriers, and exhibit visible commitment to change in order to increase women in leadership For Women Dream big take risks learn to love rejection Create & execute a networking plan to develop and nurture broad operational, personal, and strategic networks Engage in official mentorship programs when available and seek out unofficial mentors; use them for feedback, promotion, and access Connect with us socially #NBAA18 32

34 Selected Bibliography American Society for Engineering Education, Engineering Degrees by the Numbers (2016) Barsh, J. et al., Lessons from the leading edge of gender diversity, McKinsey & Company, McKinsey Quarterly (Apr. 2013) Brands, R., Fernandez-Mateo, I, Women are Less Likely to Apply for Executive Roles if They ve Been Rejected Before, Harvard Business Review (Feb. 2017) Business Aviation Insider, Is a Staffing Shortage Looming? (5 Sep. 2016) Catalyst, 2016 Catalyst Census: Women and Men Board Directors (2017) Catalyst, The Bottom Line: Corporate Performance and Women s Representation on Boards (2011) Catalyst, Women CEOs of the S&P 500 (2017) Cecchi-Dimeglio, P., How Gender Bias Corrupts Performance Reviews, and What to Do About It, Harvard Business Review (12 Apr. 2017) Chalaby, O., Diversity training doesn t change people s behaviour. We need to find out what does, World Economic Forum (1 Jun. 2018) Concordia University St. Paul, It s a Woman s Business (2017) Credit Suisse Research Institute, The CS Gender 3000: The Reward for Change (Sept. 2016) Cutler, A. and Scott, D., Speaker sex and perceived apportionment of talk, Applied Psycholinguistics (1990) Scott, A., et al., Tech Leavers Study: A first-of-its-kind analysis of why people voluntarily left jobs in tech, Kapor Center for Social Impact (2017) Eurostat, Women in Transport (2017) EY Center for Board Matters, 2016 Top Earners in S&P 500 Companies (2016) EY Corporate Governance Center, 2013 Diversity Drives Diversity (2013) EY, Women. Fast Forward (2015) Federal Glass Ceiling Commission (1995) Graduate Management Admission Council (GMAC), Application Trends Survey Report (2016) Hong, L., Page, S.E., Groups of diverse problem solvers can outperform groups of high-ability problem solvers (2004) Ibarra, H, Why strategic networking is harder for women, World Economic Forum, (2012) International Air Transportation Association, International Women s Day 2018 Aviation has further to go (2018) KPMG, KPMG s Women s Leadership Study: Moving Women Forward into Leadership Roles (2015) Lee, L., et. al, Women on Boards, MSCI (Nov. 2015) Life Magazine (9 Aug. 1943) Lopes, A., et al., Mentoring professional women in aviation and aerospace, Centre for Employment Studies Research (2015) Mason Hayes & Curran, Gender & Diversity in Aviation Survey (Nov. 2017) McKinsey & Co., How to accelerate gender diversity on boards (Jan. 2017) McKinsey & Co., Moving Women to the Top: McKinsey Global Survey results (Oct. 2010) Montgomery, B., Mapping a Mentoring Roadmap and Developing a Supportive Network for Strategic Career Advancement (2017) National Business Aviation Association, Strategies for Retaining Skilled Business Aviation Professionals, Business Aviation Insider (Jan/Feb 2018) Olson, E., A Bleak Picture for Women Trying to Rise at Law Firms, The New York Times (24 July 2017) Pew Research Center, Women and Leadership, Chapter 3: Obstacles to Female Leadership (Jan. 14, 2015) Spender, D., Man Made Language, Pandora Press (1990) Thornton, G., Women in business: New perspectives on risk and reward (2017) Turnbull, P., Promoting the employment of women in the transport sector obstacles and policy options (Working Paper No. 298), International Labour Office Geneva (Dec. 2013) US EEOC, S&P 500 EEO-1 data (2015) Uzzi, B. and Dunlap, S., How to Build Your Network, Harvard Business Review (2005) Vongalis-Macrow, A., Assess the Value of your Networks, Harvard Business Review (2012) World Economic Forum, Global Gender Gap Report (2017) Zawlsza, M., Think you re all for gender equality? Your unconscious may have other ideas, The Conversation (29 Nov. 2016) Qatar Airways C.E.O. Says Women Can t Do His Job. Cue Groans and Backpedaling, The New York Times (5 Jun. 2018) Absence of Women in Aviation Leadership Roles on Full Display at Industry Gathering, Skrift (4 Jun. 2018) It s pervasive, it s every day How a history of sexism in the airline industry echoes today, PBS News Hour (11 Feb. 2018) Where s the captain? and other things passengers say to female pilots, The Telegraph, (17 Aug. 2017) Flight behavior: sexism still lies at the heart of the airline industry, The Guardian (31 Jan. 2014) Connect with us socially #NBAA18 34

Report 2017 UK GENDER PAY GAP UK GENDER PAY GAP REPORT

Report 2017 UK GENDER PAY GAP UK GENDER PAY GAP REPORT 2017 1 INTRODUCTION DEE SAWYER Head of Human Resources At T. Rowe Price we are committed to diversity and inclusion. It is an integral part of our