What International Women's Day is Actually About

This year I am pleased to say that I’ve seen more coverage on International Women’s Day than ever before. Brands, media platforms and businesses alike are leaning into the day, seizing the opportunity to show their solidarity in the effort to empower women worldwide. In light of the day, I would like to take a moment to reflect on its meaning in my weekly article.

Throughout my career, I have always been blessed to work with and for powerful female leaders. Perhaps because I was raised in a family of strong women and at this point, have spent the bulk of my life with a wife and two daughters (talk about good grounding), I’ve gravitated to the guidance of women and looked up to them as mentors. There is no question that part of my journey and career have been influenced and guided by a number of brilliant women.

I feel fortunate to work for a company that values women. In fact, I recently attended a Bloomberg forum called “Fearless Girls of Advertising,” where so many of those fearless women began their careers at WPP companies.

KNEE JERK ALERT: This is not to say that we, our industry, and the larger workforce is near where we should be in terms of total gender equality, so don’t bother trolling.

Here are the facts: women comprise the overall majority of the U.S. population, yet only 9 percent of top executive positions in the Russell 3000 are occupied by women, and according to the National Bureau of Economic research, just 22 percent of senior vice presidents are women. That same percentage also reflects the percentage women who occupy Fortune 500 company board seats. And though these numbers have steadily increased over the years, we still have a long way to go.

The thing is, ensuring women are in a position to succeed and lead is not only right and fair—frankly, it’s good for business…so no need to be altruistic or think you are making a sacrifice or donation. In hiring women, you are making an investment in your own success.

According to an article in the Harvard Business Review, “When Fortune-500 companies were ranked by the number of women directors on their boards, those in the highest quartile in 2009 reported a 42% greater return on sales and a 53% higher return on equity than the rest, according to a recent study…Studies [also] show that the presence of at least three women on a board is necessary to change boardroom dynamics. In fact, an analysis of FTSE-listed boards found that operational performance and share prices were both higher in the case of companies where women made up over 20% of board members than those with lower female representation.” Listen:

“There is no tool for development more effective than the empowerment of women.”—Kofi Annan

I’ve been lucky—yet we can all make our own luck here. There are still so many industries that don’t put women in a position to succeed. And while we place a focus on promoting women in general (check out Shelley Zalis’ The Female Quotient as one example), it is also important to focus on ensuring those women (and men) are comprised of people with a diverse background of cultures and experience. But let’s be clear, it’s not just about balancing your gender and diversity books, it’s about inclusion, which is less about the percentages than it is about creating the on-ramps for success.

It always amazes me that we obsess over Cleopatra, worship Joan of Arc, have made Elizabeth I an iconic symbol of power, elect women prime-ministers all over the world, and that nearly every religion (even ones considered misogynistic) have their own female heroines, yet allow women to play second fiddle in business. What do you think?