Data is catching up to a fact that women have long known — women in leadership positions can bring in more profit.
A study conducted by Peterson Institute for International Economics and EY found that when a company has at least 30% of their leadership roles filled by women adds 6% to net profit margin.
“The evidence on women in the C-suite is robust: no matter how we torture the data we get the same result: women in the C-suite are associated with higher profitability,” said Marcus Noland, director of studies at the Peterson Institute, to Quartz.
According to Jenny Anderson in Quartz, the rise of women in leadership positions at companies, spanning sectors and industries, can be potentially attributed to having more women on the boards of said companies. Currently, the study found that less than 3.8% of board chairs are females.
COVER IMAGE COURTESY OF SHUTTERSTOCK.