CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

In today's globalized and rapidly changing business landscape, companies are seeking innovative ways to drive growth, enhance competitiveness, and improve financial performance. One key strategy that has gained significant attention in recent years is gender diversity. A growing body of research suggests that companies with diverse workforces, particularly those with a higher representation of women in leadership positions, tend to outperform their less diverse peers.

  Gender diversity and the participation of more different gender or women on board of directors and in senior executive management roles may add value to businesses. For instance, Gender diversity can result in more social sensitivity when solving problems  (Woolley et al 2010) and increased diversity in thought and result in better company performance  (Ernst and Young, 2009).

 According to the Mckinsey Global Institute ( 2017), Gender diversity in the work place can lead to improved company performance and economic growth, as it allows companies to tap into a wider pool of talent, skills and ideas.

 Historically, gender diversity has been a topic of discussion in the work place for many years, with increasing attention being paid to the benefits of having a diverse workforce.

  Gender roles were rigidly defined, with men expected to be breadwinners and women expected to be homemakers. Women's participation in the workforce was limited, and they often faced discrimination and harassment.

  In the early 1900s, women first entered the workforce in large numbers during world war 1 and world war 11, filling roles previous occupied by men who had gone to war.

  In 1960s-1970s, The women's liberation movement and passage of Title VII of the Civil Rights Act (1964) and Title IX (1972) prohibited employment discrimination based on sex and gender. Women began entering the workforce in greater numbers.

 In 1980s,The concept of "glass ceiling" emerged, highlighting the barriers to women's advancement to leadership positions.

 In 1990s-2000s: The LGBTQ+ rights movement gained momentum, and companies began to recognize the importance of inclusive policies and diversity initiatives.

 In 2010s, Gender diversity and inclusion became a business imperative, with companies recognizing the benefits of diverse teams and leadership. The term "gender diversity" expanded to include non-binary, genderqueer, and genderfluid individuals.

  Numerous studies have demonstrated a positive correlation between gender diversity and company performance, Including increased profitability, productivity and innovation.

 Welch and Welch (2006), Found a positive correlation between gender diversity and financial performance.

  Richard et al. (2004), Found that companies with more gender diversity have higher financial performance.

  Catalyst (2007), Found that companies with more women on their boards outperform those with fewer women.

 Credit Suisse (2014): Found that companies with more women in senior management outperform those with fewer women.

 Kochan et al. (2003): Found that gender diversity leads to increased innovation and better decision-making.

 Ibarra and Hunter (2007): Found that women leaders have different leadership styles than men.

A study by McKinsey & Company in 2015 found that companies in the top quartile for gender diversity on their executive teams were 21% more likely to experience above-average profitability than companies in the fourth quartile.

A 2017 study by the Peterson Institute for International Economics found that increasing the share of women in corporate leadership roles could add trillions of dollars to the global economy.

 Despite this evidence, many organizations still struggle to achieve and maintain gender diversity in the workplace, leading to missed opportunities and potentially negative consequences for the companies themselves and the broader economy.

 Present day: Organizations continue to strive for greater gender diversity, equity, and inclusion, recognizing the value of diverse perspectives and experiences in driving innovation and success.

1.2 STATEMENTS OF THE PROBLEM

The growing emphasis on fostering a gender diverse workforces has promoted many companies to actively cultivate a culture of gender diversity within their workplaces. Recognizing the potential benefits, organizations have realized that embracing gender diversity in the work force can enhance overall performance and foster a more positive work environment.

 However, despite the known benefits of gender diversity in the workplace, many organizations still struggle to achieve and maintain a diverse workforce. This challenge is often due to factors such as unconscious bias in hiring and promotion, lack of support for work-life balance, and limited opportunities for women and other underrepresented groups to advance to leadership positions. As a result, companies may miss out on the full potential of a diverse workforce, including improved creativity, innovation, problem-solving ability, and employee engagement, and struggle to effectively leverage diversity to drive business success, leading to:

- Inefficient job placement and competition among employees

- Ineffective reward structures and low employee engagement

- Poor decision-making and lack of productivity and resilience

 However, research has shown that having a diverse workforce can lead to improved company performance, including increased creativity, better problem-solving, and higher employee engagement. This study aims to explore the impact of gender diversity on company performance, using Julius Berger PLC company as a case study to examine the challenges and benefits of achieving gender diversity in the workplace."

1.3 OBJECTIVE OF THE STUDY

  The aim of the study is to examine the impact of gender diversity in enhancing  company performance ( a case study of Julius Berger PLC)

 Other specific objectives of the study gender diversity could be:

1. To explore the relationship between job placement based on competence and healthy 

lacement based on competence and healthy competition among workers.

2. To ascertain the relationship between reward/compensation based on achievement and employees job engagement.

3. To assess the relationship between adoption of views for decision making based on rationality and productivity / resilience among workers.

1.4 RESEARCH QUESTION

The following research question has been formed from the specific objectives:

1. How does gender diversity in competency-based job placement influence the competitive dynamics among employees, and what impact does this have on organizational performance?

2. What is the effect of gender-neutral, achievement-based reward systems on employee engagement and motivation, and how does this impact company performance?

3. Can gender-diverse teams that adopt rational decision-making approaches enhance productivity and resilience, and what implications does this have for organizational performance?

1.5 STATEMENTS OF HYPOTHESIS

H1: Gender diversity in teams leads to healthier competition and better company performance.

H2. There is a significant effect of fair rewards based on achievement which increase employee motivation and company success.

H3. Gender-diverse teams making rational decisions are more productive and resilient.

1.6 SIGNIFICANT OF THE STUDY

This research work " the impact of gender diversity on company performance" is important has it have many Benefits to the organization and the employees.

            These benefits may also positively contribute to business practice by offering organizations in different industries ways in which they approach the development, implementation, and utilization of gender diversity.

The findings from the study will provide further insight in addressing inequalities in the workplace by Understanding the impact of gender diversity on company performance which can help identify and address inequalities that may exist in the workplace. This can lead to more equitable and inclusive work environments for all employees and an opportunity for career advancement.

It also Improve company performance. As noted in previous research, having a diverse workforce can lead to improved company performance in terms of profitability, productivity, innovation, and employee retention, organizations can make informed decisions to drive business success.

The results of this study will contribute to bringing awareness surrounding the issue of gender diversity. It will also extending the knowledge of how gender diversity affect the performance of a company.

The study will help the construction sectors manger to gain relevant knowledge on gender diversity program.

1.7 SCOPE OF THE STUDY

  The study primarily centers on the impact of gender diversity on company performance. It's focused will be on Julius Berger PLC

This study is only limited to the impact of gender diversity on company performance despite the fact is has others factors that affect company performance.

 Empirically, this study will promote a inclusive and respectful work place culture, achieve a balanced representative of both gender at all levels of organization and ensure pay equity between individuals of different gender.

 This research work revolved around the employees and the management of Julius Berger PLC and nothing more.

1.8 DEFINITION OF TERMS

  The Following are definition of key terms and concepts that will be used in the course of study:

Gender: the state of being male or female ( typically used in reference to social or cultural differences). This refers to the presence of a wide range of people

Diversity: the fact of many different types of things or people being including in something, a range of different things or people.

This refer to the presence of a wide range of of people within a group, organization or community.

Gender diversity: gender diversity implies psychological disparities and experience that socially or culturally attaching to Being a male or a female within the organization.

Organization performance: this is the effectiveness and efficiency with 3hich an organization achieve it goals and objectives. It includes various aspects such as financial performance, operational efficiency, productivity, innovations, customer satisfaction, employee engagement, and overall competitiveness.

Employees retention:

Bias": This refers to cognitive processes that can lead to incorrect judgments or decision-making. Bias can be conscious or unconscious, and can be related to race, gender, age, or other factors.

"Diversity initiatives": These are programs and policies implemented by companies to increase and support diversity in the workplace, such as mentorship programs, hiring practices, or employee resource groups.

"Pay equity": This refers to equal pay for equal work, regardless of gender.