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Mauricio, DTG

Women in the workplace, marketplace and society as-a-whole

Introduction

I put some data together that I thought you might find interesting. Talk about what people, "don't know they don't know!" Actually, I did some research for a client - they had a presentation to make and here is some of that data recycled for your review and consideration.

"Whatever preconceived notions you have about women in your workplace, women in general, women and business ownership - throw them out, they are myths. Looks like the 2000s will be the decade of the woman." - Mauricio Velasquez, President

General

Did you know that:

  • Women in the U.S. spend more than $3.3 trillion annually (purchasing power)
  • Women business owners employ 35% more people than all the Fortune 500 companies combined (how many of your clients are women-owned?)
  • 95% of family financial decisions are made by women (who balances the checkbook in your family?)
  • Women in business will invest $44.5 billion in high tech products this year
  • 65% of women in senior management positions have children (they kept their job and are raising a family) 

Source: Women and Diversity, WOW Facts 2001 - Business Women's Network

Women and the Workforce/Jobs

  • The labor-market participation rate for women 25 to 44 years of age - the average child bearing years - rose from less than 20% to more than 75% between 1900 and 1999 (Source: Business Week)
  • 60% of US women work outside the home, earning $1 trillion each year in aggregate (Source: Chicago Tribune, 1999)
  • Net increase of the workforce between 1992 and 2005, 62% are projected to be women (Source: U.S. Federal Government, Bureau of Labor Statistics)
  • Of working married women, 48% provide half or more of the household income (they are the primary bread winner and if we pay well, they want your jobs) (Source: Families and Work Institute Study)
  • 99% of working women describe equal pay for equal work as extremely important aspect of their job to them. Almost one-third say their current job does not provide equal pay for equal work (Source: AFL-CIO)

Women and Wealth

  • Women own more than 47% of the stocks (Source: Peter Hart and NASD and the Investment Institute)
  • Women are projected to acquire over 85% of the $12 trillion growth of U.S. private wealth between 1995 and 2010 (Source: Marti Barletta of TrendSight Group)

Women and Business Ownership

  • Today there are 9.1 million women-owned businesses in the U.S., representing nearly 40% of all businesses
  • They employ 27.5 million people and generate more than $3.6 trillion in sales
  • Women are starting new firms at twice the rate of all other businesses

Sources: NFWBO and SBA

Restaurant-related data

  • Women in business have time pressures and are eating out more
  • Women business owners dine out with more frequency than women employees
  • 68% of women business owners and 60% of women employees dine out with their families at sit-down or fast-food establishments at least once a week (Source: Women Business Owners as Consumers: Transforming the Marketplace, with AT&T and the Principal Financial Group)

Gender Roles

  • Magazines are much more geared to showing women as the "fix-up moms" and "fix-up owners" of their dwelling (Source: Builder Magazine)
  • Women are moving up from smaller tools such as hammers and screwdrivers to heavy duty equipment such as power drills (Source: Home Improvement Resource Institute)

Women and the Military

  • 1.8 million women have served in the U.S. armed forces. Women's service dates back to the Revolutionary War.  (Source: Arlington National Cemetery)
  • The Department of Defense is the nation's largest employer of women. Currently, there are 195,639 women on active duty and 257,946 women in civilian positions. (Source: Department of Defense)
  • Women make up 14% of the active duty military force. (Source: Department of Veteran Affairs)

Education

  • Since 1984, the number of women in graduate schools has exceeded the number of men. (Source: National Center for Education Statistics, 1997)
  • Women received 238,563 of the Master's degrees conferred in 1996-1997, whereas men earned 181,062 of the Master' degrees conferred in 1996-97 (Source: Department of Education)
  • Women Top-Ranked* Professional Schools
    Engineering 15%
    Business 30%
    Law 44%
    Medicine 45%

*Top-ranked schools by U.S. News and World Report

Philanthropy and Women Entrepreneurs

  • Women business owners in the U.S. are more likely than man entrepreneurs to participate in volunteer activities and to encourage their employees to volunteer (Source: National Foundation for Women Business Owners)

The numbers are pretty convincing. Does your organization have a plan for sourcing, recruiting, hiring and retaining female talent, female customers, women-owned vendors, etc? It looks like to me that women in the workplace and marketplace are a hugely untapped potential goldmine.

I hope you enjoyed reading this article - I sure enjoyed writing it.

At your service,

Mauricio Velasquez, President & CEO
DTG
692 Pine Street Tel. 703.478.9191
Herndon, VA 20170 Fax 703.709.0591

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