At the Heart of Change: Where are the women?

For several decades, scientific research has shown that diversity is a considerable asset for companies’ performance and innovation. During the pandemic or the financial crisis of 2008, we were able to notice better resistance from companies with mixed governance (1). This reality led Christine Lagarde, then Director of IMF, to declare that if Lehman Brothers had been called Lehman Sisters, the situation would not have been as dire (2).

The integration of more women, particularly into leadership positions, is a performance driver, because bringing a diversity of people from different paths of life and various experiences into organizations, allows for more open-mindedness and limits blind spots. This is also true of other forms of diversity, but women have an added advantage: they represent half of humanity. In the context of transformation of the corporate world, from the environmental crisis to deep geopolitical tensions, it seems fundamental that change itself should be thought of and implemented by the population as a whole. On the other hand, on the job market, women constitute the largest pool of unused talent, at a time when the shortage of skilled workforce is a major issue.

The commodity trading sector is not immune to these observations nor to the desire to feminize both the teams and governance of organizations. However, what makes an organization appealing to women today, as well as to many men and particularly the younger ones, is the sense of purpose, the values it promotes, attention to work-life balance, and an inclusive culture. This may appear to be a caricature, but it is a real paradigm shift: the time when salary and a company car made the candidates’ eyes sparkle has gone by, there is now a need for purpose and well-being. Of course, there are exceptions, and the international market is partly different, but this is where it is important to know what is at stake. If it is about guiding the commodity trading evolution in line with the energy and societal transition, and in a more ethical way, we undoubtedly need to think in a different manner. Commodities are at the center of our lives, of our homes, and of our commutes. It is thus necessary to underline this social dimension and to ensure the building of a sustainable future thanks to more diversity. Female experts, fully committed and passionate about these topics, are out there. It is about making sure they can contribute at the right level and be part of a more inclusive workplace. This obviously involves challenging certain processes or working conditions that seem to be unchangeable, but this is exactly what it means to be “at the heart of change”!