Life at Deloitte
Leaders of tomorrow
A diversity challenge
A firm like Deloitte places great importance on attracting and retaining women in the workplace.
With 50% of its workforce being women, Deloitte Malta continues to achieve a sustainable and balanced workplace environment while contributing to increased female participation. Despite this, research has shown that only 30% of all businesses worldwide are owned and operated by women and that 40% of worldwide businesses have NO women in senior management. The need to attract, nurture and develop women as leaders of tomorrow is critical for the professional service industry as well as the world in general.
To address this, Deloitte Malta launched the “Leaders of Tomorrow” challenge in 2019, calling for ideas on how a professional services firm like Deloitte can be appealing to young women, how the right working environment can help young women build their career, and how to help women to progress in leadership roles.
in 2019, selected finalists attended an event at the Deloitte offices in Mriehel, on Thursday 28 March, to present their ideas to an internal panel of judges. Winning participants were presented with prizes and an opportunity to work with Deloitte in the summer. Read the press release.
Leaders of Tomorrow participants
Leaders of Tomorrow participating finalists and judges.
Leadership today is dominated by men – 93% are heads of states and 95% are CEOs. A study conducted in 2018, reported that companies claim they are 1highly committed to gender diversity. However, this commitment has not translated into meaningful progress.
From a business perspective, research of Fortune 500 companies found that those with at least one female board member experienced significantly higher returns on equity (53%), better sales (42%), and a two-thirds greater ROI than those with all-male boards2.
Despite the aforementioned, the proportion of women at every level in corporate firms has hardly changed. Progress isn’t just slow, it has stalled.
The case for more women in professional services and the development of women as leaders of tomorrow needs to be more loudly heard. The mandate is clear. The time to act is now.
Leaders of tomorrow
Deloitte is committed to diversity and inclusion in the workplace and is always aware that more must be done to increase the numbers of women throughout its global network3. The need to attract, nurture and develop women as leaders of tomorrow is critical for the professional service industry as well as the world in general.
The Deloitte Malta “Leaders of tomorrow” challenge aims to identify issues that are hindering progress and encourages innovation amongst younger members of society to provide strategic insights and practical thinking for designing ways forward to address the attraction, retention and development of women and their inclusion in leadership roles in the world of professional services.
The "leaders of tomorrow" challenge asks three main questions to address the issues of attraction, retention and leadership.
- Attraction: How can a firm like Deloitte become more appealing to young women?
- Retention: How can a firm like Deloitte create the right working environment for women to build a career?
- Leadership: How can a firm like Deloitte help women progress to leadership positions?
While the digital world increases the pace of business change and drives greater transparency, many of the traditional barriers to attraction, retention and progression of female employees remain. Societal norms, stereotypes and deeply engrained institutional, cultural and operational norms within organisations must be challenged and addressed to drive greater gender balance. With this in mind, what are the pre-conditions that need to be in place to drive meaningful and sustainable change, and what type of the practical actions are required to build inclusive organisations?