FOR IMMEDIATE RELEASE

Contact: Cheryl Krauss
Bain & Company
Telephone: +1 646-562-7863
cheryl.krauss@bain.com

NEW SURVEY FINDS MORE THAN 70% OF EMPLOYEES BELIEVE GENDER PARITY PROGRAMS ARE FAILING

Far-Reaching Bain & Company Survey of 1,834 Participants Finds Lingering Gender Perception Gap, but Says Lack of Management Focus and Commitment are Biggest Barriers Keeping Women Out of C-Suite

New York, NY - February 4, 2010 - A new survey from Bain & Company, the global business consulting firm, reveals a continuing disparity between the sexes on the reality and value of gender parity in the workplace. The vast majority of both men and women report that they're convinced of the benefits of parity in the workplace, yet 84% of women believe that gender parity should be a strategic imperative for their company, compared to 48% of men. But the authors find that the lack of structured processes, success measures and comprehensive monitoring of gender parity-at all levels of the organization-are the root causes for continued stagnation for many women aspiring to leadership positions in their careers. The survey finds that senior management in 75% of companies has not made gender parity a stated and visible priority, while 80% of firms have not committed adequate funding or resources to the initiatives.

"Achieving gender parity in the workplace is possible if business leaders take a systematic and customized approach to finding out what derails women along the way at their organizations," says Orit Gadiesh, Bain chairman and co-author of the study. "You need to tailor it to the company-how many women you have, where they drop off, and what happens with promotions. You can't fix what you don't measure."

Companies must recognize the importance of accurately measuring the current state of gender parity, say the authors, but they must also take the next step of monitoring the progress of gender parity goals, across all levels of the organization. The survey results show that many companies do not collect enough data to effectively measure and monitor progress of gender parity goals. Less than 20% of the survey respondents report their company uses gender parity metrics effectively. Less than half of those surveyed know if their company tracks measures like the percent of women recruited, women promoted or women retained.

The survey further finds that many companies do not effectively communicate or engage employees in the design and contribution to the gender parity program in their organization. Approximately 60% of all survey respondents report that their company does not solicit any input from them on developing gender parity initiatives. About one-in-ten say that their company does not provide any formal feedback mechanism or opportunity for open dialogue.

Men and women still contribute and sacrifice differently in the name of home and family, according to the survey. Though the ongoing difference may not surprise many say the authors, the relative size of the discrepancies go to underscore the magnitude of the hurdles many women say they continue to face in balancing the needs and goals for both career and family:

• Approximately 90% of both men and women state that either a man or a woman can be the primary breadwinner in a household, but 56% of men agreed or strongly agreed that either could effectively be the primary child caregiver, this compared to 80% of women
• Just over half of both sexes (53% of men, 59% of women) said that they would make career sacrifices, yet nearly 80% of men agreed or strongly agreed that their spouse or partner would make career sacrifices, while only 45% of women said that their spouses or partners would do the same
• Women reported being two-times more likely to have taken a flexible career path, or a leave of absence, and are three-times more likely to have worked part-time

"Companies need to develop less rigid promotion processes and career paths and de-stigmatize flexible career models so employees can capitalize in greater numbers on leadership aspirations, " said Julie Coffman, Bain partner, co-author of the survey and head of the firm's global women's leadership council. "The alternative is to continue to drive major sources of talent from the workforce at a time when top talent is increasingly scarce."

Editor's note: To receive a copy of Bain's "Gender Parity in the Workplace" survey, or to schedule an interview with Orit Gadiesh or Julie Coffman, please contact Cheryl Krauss at email: cheryl.krauss@bain.com or +1-646-562-7863 or Frank Pinto at frank.pinto@bain.com or +1-917-309-1065.

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About the Gender Parity in the Workplace Survey

Bain conducted a global survey of 1,834 business professionals from January 6-13, 2010 to better understand perspectives on gender parity in the workplace. More than half of the respondents described themselves as 'senior managers' or 'executives;' approximately three-quarters of respondents were female. The survey was posted on Bain.com, HBR.org and directly to a mix of companies for posting and distribution. In addition, it was pushed out to various other email distribution lists, e.g. Bain alumni lists, professional networks and personal contact lists.

About Bain & Company, Inc.

Bain & Company, a leading global business consulting firm, serves clients on issues of strategy, operations, technology, organization and mergers and acquisitions. The firm was founded in 1973 on the principle that Bain consultants must measure their success by their clients' financial results. Bain clients have outperformed the stock market 4 to 1. With 41 offices in 27 countries, Bain has worked with over 4,150 major multinational, private equity and other corporations across every economic sector. For more information visit: www.bain.com.