Sodexo, a world leader in Quality of Life Services, has found that teams managed by a balanced mix of men and women are more successful across a range of measurements. The five-year study of 70 entities across different functions represents 50,000 managers worldwide.
Operating margins, client satisfaction and employee retention, among other key performance indicators, were all higher among gender-balanced teams, meaning a ratio between 40% – 60% women to men.
The study found that operating margins significantly increased among more gender-balanced teams than other teams.
Another key finding of the study is that gender-balanced entities had an average employee retention rate that was 8 percentage points higher than other entities, and an average client retention rate that was 9 percentage points. Furthermore, gender-balanced management reported an employee engagement rate that was 14 percentage points higher than other entities saw a decrease in the number of accidents by 12 percentage points.
Sue Black, Sodexo Global HR Director, Energy and Resources, said: “These results add a new, compelling dimension to a growing body of research that demonstrates the business benefits of gender equity.”
“The distinctive nature of the study, with its examination of both financial and non-financial performance indicators across so many levels of management and the pipeline to leadership, is a significant piece of the overall picture on importance of gender in the workforce for enhanced outcomes.”
Sodexo is breaking new ground in gender parity. In Australia, more than 50% of Sodexo’s workforce and 40% of its management team is female. Globally, women represent 50% of the board while thirty-two percent of senior leadership positions are held by women. Middle management and site management positions are currently at 46% and, the company has committed to reaching 40% women in senior leadership ranks by 2025 and has linked 10% of bonuses to this metric.
Sodexo has been named to Bloomberg’s 2018 Gender-Equality Index for its advancement in gender equality and was also recognised as a Catalyst award winner in 2012. In 2017, Sodexo ranked in the top 10 of Diversity Inc magazine’s ‘Top 50 Companies for Diversity’ list for the 9th consecutive year
and the Best Companies for Multicultural Women list by Working Mother Magazine.
Sodexo Australia employs a diverse workforce of over 5,000 employees, delivering over 100 integrated services including: catering, facilities management, concierge services, security, asset maintenance and hospitality services in the following segments: Corporate, Healthcare & Seniors, Education, Justice and Energy & Resources, both on and off shore.