This report for Westpac is an important contribution to the research in Australia. It broadens the research and conversation about the importance of women in leadership in three key ways: 1. It focusses on all senior management rather than just executives and boards. 2. It estimates the size of the lift in economic and business dividends from gender diversity. 3. It also considers the importance of inclusion in harnessing the benefits of diversity.
The evidence suggests that having a greater representation of women in senior leadership positions makes business sense. Improving business outcomes is the second highest reason for establishing a gender policy, after aligning with the broader vision of the organisation. More than one third of businesses with gender policies established these policies to improve business outcomes.