Building on the success of our popular Talent Acquisition Roundtable events, EMEA Recruitment were delighted to host the fourth instalment of the series on Wednesday, September 11th, 2024.

The subject for this edition was The Power of Gender Diversity in the Recruitment Process, presented in partnership with pioneering tech firm, ABB.

Corporate Talent Partners, Alexander Davies and Sonja Burgherr led a wide-ranging discussion to include ABBs resourcing initiatives and insights into the impact of female leadership across industry sectors.

"A culture of diversity, inclusion, and equal opportunity is critical to our business success and makes us stronger."

The group explored ABB's case study in detail whilst encourgaing an in-depth open discussion, before ending with a valuable informal networking opportunity. Below you'll find a concise summary of the insights shared:

ABB Global Initiatives

Female Mentoring Program

- This year-long mentoring and development program, in place for five years, is designed to develop, strengthen, retain, and track the female talent pipeline both globally and regionally, helping mentees progress into senior leadership roles.

Gender Neutral Parental Leave Program

- An 18-month postgraduate program focused on Women's Leadership

Shadow a Woman Leader (Vedica Scholars - US based)

Unconscious Bias Training

- For all Managers and Talent Partners.

Gender Decoder for Job Postings

- Promotes gender-neutral language.

Commitment to UN Women’s Empowerment Principles

- ABB’s CEO signed a commitment to the UN’s seven core principles for women’s empowerment.

Breastfeeding Rooms: Available at ABB locations

Programmes for the Younger Generation:

Girls on Track – Formula E

- Encourages girls to engage with the engineering industry.

Girl Technology Days:

Goal: Inspire girls about technical careers and apprenticeships.

Activities: Workshops, apprentice experience reports, and a tour of battery production for secondary school students.

Key Insights on Gender Diversity:

Financial Performance

Improved Profitability

According to a McKinsey Report, companies in the top quartile for gender diversity on executive teams are 25% more likely to have above-average profitability.

Revenue Growth

Research by BCG (Boston Consulting Group) found that companies with above-average diversity scores saw 19% higher innovation revenues, thanks to the varied perspectives and ideas by a diverse workforce.

Innovation & Problem Solving

A Harvard Business Review study revealed that diverse teams are better at anticipating shifts in consumer needs and consumption patterns, leading to higher market share and the discovery of new markets.

Employee Satisfaction & Retention

Higher Employee Engagement

A Gallup study concluded that gender-diverse business units experience higher employee engagement, contributing to better performance outcomes and lower turnover rates.

Inclusive workplaces that prioritise gender diversity tend to have employees who feel more valued and supported, leading to increased job satisfaction and loyalty. Some studies indicate that this can improve employee retention rate by as much as 5.4 times.

Reduced Turnover Costs

The Centre for American Progress reports that replacing an employee can cost up to 21% of their annual salary. Companies with gender diversity and inclusive policies experience lower turnover rates, leading to significant savings on recruitment and training costs.

To be notified of future editions or similar events in the TA space, please don’t hesitate to reach out to Drew Larcombe in our Swiss HR recruitment team who will keep you informed.