No time, no money, no patience for another conference.
Fortunately perhaps, many factors counted in the Forum’s favour. Not least the recognition that women’s role in all aspects of society and the economy is now more relevant than ever.
Post crisis, as press and commentators tried to make sense of what had happened and why, many articles covered the topic of women in the boardroom, in the City and at the top of global financial institutions and asked the question “would we still have had the crisis if Lehman Brothers had been called Lehman Sisters?” It is not certain that any hard conclusions were reached by the media, but coupled with the appointment of women in various regulatory and repair roles, for example in Iceland whose spectacular bank crashes put it well and truly on the map. Certainly, points were made and attention levels on diversity issues improved.
In developed and developing countries alike it is usually women who suffer the brunt of economic downturn; being statistically more likely to work in part time or SME roles or to bear the impact in increased crises and conflict situations related to food poverty or increased geo-political tension. This is a subject of concern not just for employers in developed economies trying to figure out how to preserve flexibility and skills in work forces for the upturn, but also for international and public institutions of all flavours from NATO to the EU as they relate the crisis to the parameters of geo-political stability.
Although recent studies have not been able to show categorically that companies perform better if women are present in substantial numbers at board level, they do show that the quality and soundness of decision making improves dramatically in diverse senior teams and that many aspects of performance improve. Beth A. Brooke, Global Vice Chair of Ernst & Young speaking at the Forum: “At this crucial time in the world, the G20 calls for international leaders and regulators to cooperate. But it is not just about cooperation on stimulus and regulation. Women are an important component of the equation. Indeed, research shows that when you have a critical mass of women on Boards, you get better financial performance. Research also shows that greater levels of women in senior management produce better results across a variety of organizational measures. Also, women are more apt to bring people with different views to a decision-making table. When you invest in women’s economic empowerment, women reinvest 90% in their families and in their communities. To me the evidence from all angles is clear”.
More reason than ever then for the Women’s Forum, held October 15-17 to attract interest. The theme “Think again, think ahead! It is time for action, change and hope” struck a chord with the 1000 or so participants from 80 countries and over 500 organisations who gathered to debate, learn and above all network at this year’s fifth edition of the Forum.
The opening session was a vibrant, optimistic and challenging kaleidoscope. Thought provoking presentations provided much needed fresh thinking and very different women’s perspectives. In the early days of the Forum as we were getting off the ground I once made the typical Anglo-Saxon mistake of asking “yes but what are we trying to achieve?” and was soundly rebuked by my French colleagues who found the idea of a Forum - simply to air and foster debate - an end in itself. Five years later at a time when the economy and particularly Anglo-Saxon banking models have been analysed to death without yet producing any clear routes forward or alternative models it has been immensely refreshing and instructive to examine alternative views and paths to success.
Janine Benvus, President of the Biomimicry Institute kicked off the conference by showing some of the truly astounding innovations that are now being brought to market as technology which literally mimics nature is developed to meet environmental and other societal challenges. Ghassan Salamé, Professor of International Relations at the Institut d’Etudes Politiques controversially set out “why we need an enemy”: with the end of the cold era long past we often find ourselves in business inventing ways to focus on the opposition to instil competition and dynamism across sectors. On the day when Goldman Sachs announced the return of the bonus culture (did it ever go away?) Barry Schwarz, Professor of Social Theory at Swathmore College, tackled the reasons why traditional incentives don’t really work!
Two key topics to emerge at the conference were the role of women’s entrepreneurship in rebuilding the economy and how the global economic downturn threatens to erode recent advances in women’s economic participation and empowerment in emerging market countries.
Melanne Verveer, appointed as the US Ambassador at large for women’s issues (a completely unprecedented position created by President Obama heading the State Department’s new office on Global Women’s issues) highlighted, how in many of these countries, economic stresses on families are putting girls’ educations at risk. “Left unchecked, this situation may lead to short changing potential future economic growth once economies begin to rebound, due to a missing cohort of skilled female workers…That said, one of the most promising areas of progress is the spreading awareness that women’s issues are not just topics of concern to some women in some far-off countries, but have very real national security and global economic and political ramifications. Where women are devalued and have the least opportunities to participate in the civic life of their communities, we find fragmented societies and failed states. Where we have strong, stable, and prosperous societies, we have full civic engagement by both women and men. Encouragingly, people are beginning to realize that “women’s issues” are really about what kind of societies we want to have in this world, and what kind of world we want to live in. Without women’s full participation, we cannot solve the pressing security, environmental, economic, and health challenges the world faces today.”
Initiatives designed to recognise and address just such potential ramifications and to bring sustainable support – not just aide but skills and entrepreneurial opportunity – were presented by Dinah Habib Powell – Goldman Sachs 10,000 Women initiative - and Zainab Salbi, , Founder, Women for Women International, Iraq. This debate was perhaps the most impactful, along with the moving personal story of Zoya Phan, the young woman who, demonstrating enormous courage and overcoming the assassination of her father and attempts on her own life, is one of the leading international Burmese democracy activists.
What clearly emerged from the Women’s Forum in 2009 is the insight that with global economic crisis come global issues that are so complex and intertwined, no one party can hand off responsibility to another. Business, professionals, academics, innovators, entrepreneurs, governments and public bodies alike have to care and have to take up these challenges practically. We need to find different models for social and economic progress or face repercussions and continued cyclical economic time bombs. The Women’s Forum put women at the centre of this challenge and the heart of the solution. Time well spent.
* Julia Harrison is Managing Partner of FD Blueprint (FD Blueprint is a leading EU public affairs company) and Member Founding Committee of Women’s Forum (Belgium).
By: N. Peter Kramer
