A KPMG report has found that mid-market companies with gender diversity outperform their non-mixed peers. The report - KPMG Enterprise 2017 ASX 300+ - looked at over 600 Australian companies and 38 foreign companies listed in Australia, and found that those with a female at the helm (chief executive position) had a nine per cent increase in revenue in 2016 compared to the group-wide average of 0.5 per cent.
Those companies with boards that contained women directors also saw higher revenue growth, and had more profits and shareholder returns.
How many companies have female CEOs? As of recently, on the ASX 300+, 21 companies have a female CEO, with just nine per cent of boards comprised of female directors. In the ASX 200, there is 23 per cent of boards comprised of female directors.
Diversity - and not just in gender - may result in more innovative talk, which in turn can lead to stronger governance and a more robust organisation culture, the report said.
The Australian Institute of Company Directors (AICD) has requested that all boards in the ASX 200 have at least 30 per cent female directors by 2018.