LADOL Boss: Equal Female Representation Boosts Company’s Profit by 42%

The Managing Director of Lagos Deep Offshore Logistic Base (LADOL), Dr. Amy Jadesimi has revealed that a company with more female in its board will be 42 per cent more profitable than companies that don’t have female directors.

Jadesimi, who stated this as part of efforts to mark this year’s International Women’s Day, said women see the world differently and makes decision differently.

Speaking on a CNBC Africa ‘Power Launch’ programme, the LADOL boss said: “If you have women on your board of directors your company is going to be 42per cent more profitable than companies that don’t have female directors. Part of that comes from the fact that women look at the world differently and they make different decisions.”

Citing the United Nations Business and Sustainable Development Commission (UNBSDC) report titled: ‘Better Leadership, Better World: Women Leading for the Global Goals’, she said women are able to increase both private and public sector profit by 42per cent because they talk about sustainability, they bring in more ideas that help the company and public sector achieve sustainability.

“So, if you don’t have women in your company or in your government, you are going to miss out from all that information,” she said.

To help women achieve their goals in work place, she recommended that both the private and public sector must invest money to achieve female empowerment and equality adding that the status quo of female inequality in work place must change.

One of the key areas to long term investment, according to her is human resources.

“One of the major areas has to be in human resources. How do you recruit? How do you support women who are already in the company? If you find out what most companies do, then in the lower level of your company you will have just equal ratio men to women but by the time you get to the top level of the company you don’t have women. First you must do an analysis why that is happening. The common reason is that women have to have babies but then you don’t have policies that attract them to come back in and have flexible working time.