A Woman’s View from the Street 11/19/19

TXWSW, Limitless

Happy Tuesday!

Huge thanks to our sponsors, committee heads and committee members for a phenomenal job with this year’s fall fundraisers. From our annual Boots & Blackjack Casino night in Austin to our new events in Houston (Magical Cocktails) and Fort Worth (Whiskey Ranch), a good time was had by all and most importantly, we raised money for the deserving students at the Young Women’s Preparatory Network.

The next article illustrates why TXWSW has partnered with YWPN over the past decade in support of college preparatory education for economically disadvantaged girls. Not only will an educated girl go on to make sure the family she will have one day receives an education, breaking the cycle of poverty for herself and her family, but diversity in the workforce matters to bottom line results. The Wall Street Journal recently ranked the companies in the S&P 500 based on diversity scores, and not only did the more diverse companies have better operating results, but their shares generally outperformed those of the least diverse firms. The full article can be found here.

A Preqin study noted the scarcity of women in senior roles at alternatives firms. Given recent lackluster performance, perhaps the managers of and investors in alternative firms should read the study above. The full article can be found here.

The other glaring place that women are missing is in central banks. While Christine Lagarde became the first female president of the ECB recently, she is one of the very few women central bankers worldwide, and the problem is one of discrimination that comes in the form of hostile work environments and a lack of opportunity to publish. The full article can be found here.

Finally, the last article debunks the myth that women’s careers derail when they bump up against the glass ceiling trying to reach the higher corridors of power. Or that they fall behind taking time off to have children. A new five-year study shows that rather than a glass ceiling, most women’s careers are stalled because their first rung of the ladder is put beyond their reach. To quote: “Though women and men enter the workforce in roughly equal numbers, men outnumber women nearly 2 to 1 when they reach that first step up—the manager jobs that are the bridge to more senior leadership roles. In real numbers, that will translate to more than one million women across the U.S. corporate landscape getting left behind at the entry level over the next five years as their male peers move on and upward, perpetuating a shortage of women in leadership positions.” Said another way, gender bias holds women back before they even get started. McKinsey notes that if companies “fix that broken bottom rung of the corporate ladder, and companies could reach near-parity all the way up to their top leadership roles within a generation.” The full article can be found here.

I would ask each of you to consider corporate sponsorship of TXWSW. Benefits include attendance at our flagship events and recognition for your firm. To learn more, you may find our sponsor information here. Additionally, we would be happy to create a custom sponsorship for you. Please contact Bianca King at developmentdirector@txwsw.com

Kind regards


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