Comprehensive Sodexo Study Finds Gender-Balanced Management Teams Perform Better on Key Business Objectives
BURLINGTON, ON, March 6, 2018 /CNW/ - Sodexo, world leader in Quality of Life Services, has found that teams managed by a balanced mix of men and women are more successful across a range of measurements. The five-year, one-of-a-kind study of 70 entities across different functions represents 50,000 managers worldwide.
Operating margins, client satisfaction and employee retention, among other key performance indicators, were all higher among gender-balanced teams, meaning a ratio between 40% - 60% women to men.
"These results add a new, compelling dimension to a growing body of research that demonstrates the business benefits of gender equity ," said Rohini Anand, PhD., Senior Vice President Corporate Responsibility & Global Chief Diversity Officer, Sodexo.
"The distinctive nature of the study, with its examination of both financial and non-financial performance indicators across so many levels of management and the pipeline to leadership, is a significant piece of the overall picture on importance of gender in the workforce for enhanced outcomes."
SODEXO GENDER BALANCE STUDY KEY FINDINGS:
- Operating margins significantly increased among more gender-balanced teams than other teams.
- Gender-balanced entities had an average employee retention rate that was 8 percentage points higher than other entities.
- Gender-balanced entities had an average client retention rate that was 9 percentage points higher than other entities.
- Gender-balanced management reported an employee engagement rate that was 14 percentage points higher than other entities.
- Gender-balanced entities saw the number of accidents decrease by 12 percentage points more than other entities.
This unique Sodexo Gender Balance Study builds on previous internal and external research and amplifies Sodexo's commitment to gender parity and an inclusive culture.
"In Canada, 87% of management teams are gender balanced," says Katherine Power, Vice President, Communications and Corporate Affairs. "This measure is part of our commitment to a diverse and inclusive work environment and offers us a significant competitive advantage."
Sodexo, already a leader in diversity & inclusion, is breaking new ground in gender parity. Today, women represent 50% of our board. Thirty-two percent of senior leadership positions are held by women globally – a 6% increase at the very top levels since 2013. Middle management and site management positions are balanced at 46%. Currently, 59% of the total workforce works within gender-balanced management.
The company has committed to reach 40% women in senior leadership ranks by 2025 and has linked 10% of bonuses to this metric.
Sodexo is also a member of Bloomberg's 2018 Gender-Equality Index and was recognized as a Catalyst award winner in 2012. In 2017, Sodexo ranked in the top 10 of DiversityInc magazine's 'Top 50 Companies for Diversity' list for the 9th consecutive year and the Best Companies for Multicultural Women list by Working Mother Magazine. Sodexo was also recognized by FORTUNE Magazine three times in 2017 making FORTUNE Magazine's World's Most Admired Companies list, FORTUNE Magazine's Change the Word list and the FORTUNE 500 list.
Sodexo in Canada
Sodexo has been delivering On-Site Services in Canada for over 40 years. Recognized as a strategic partner, Sodexo Canada is dedicated to providing Quality of Life Services for clients, their employees and visitors in the corporate, education, healthcare and energy and resources segments. These Quality of Life Services create healthy, safe, and efficient environments allowing individuals and organizations to grow and succeed. Delivering food and facilities management services for over 175 clients, Sodexo is a market leader in Canada in terms of revenue and consumers served, and has been recognized as a top employer for the past six consecutive years. Sodexo Canada is proud to have created the Sodexo Stop Hunger Foundation, an independent charitable organization that has donated more than 1 million meals to at risk youth in Canada since it was founded in 2000.
Key Figures (as of August 31, 2017)
Sodexo in Canada
Sodexo in the World
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Learn more about Sodexo Canada in its interactive magazine Better Tomorrow 2017 Year In Review
SOURCE Sodexo Canada
For further information: Leslie Booth, Xposure PR, 905-427-1588, [email protected]