Video: E.D.G.E. in Leadership Study Delivers First-Ever Data on Executive Women in Pharmaceutical and Biotech Industries Healthcare Businesswomen's Association and Booz Allen Hamilton announce

results of groundbreaking study and best practices for recruitment,

retention, and advancement of women



    FAIRFIELD, N.J., Nov. 8 /PRNewswire-USNewswire/ -- Results from the
 highly anticipated Healthcare Businesswomen's Association (HBA) E.D.G.E.
 (Empowerment, Diversity, Growth, Excellence) in Leadership study have
 exceeded the expectations of pharmaceutical senior management, who have
 been awaiting the first research to provide actionable recommendations on
 best practices for the recruitment, retention, and advancement of women to
 the most senior roles within their corporate suites.
 
     To view the Multimedia News Release, go to:
     http://www.prnewswire.com/mnr/hba/30110/
 
     "In the competitive pharmaceutical industry, companies recognize the
 need to diversify their senior leadership teams in order to be successful,
 and cultivating women in top management spots is a critical component to
 that success," said Joe Mahady, President Global Business, Wyeth
 Pharmaceuticals. "We are grateful to the HBA and Booz Allen Hamilton for
 helping us fill the knowledge gaps that have created obstacles to women's
 successes in the past."
 
     Conducted by the HBA in conjunction with study partner Booz Allen
 Hamilton, the E.D.G.E. study established first-ever benchmarks to track
 women's career progress in the healthcare industry. It captured current
 attitudes and motivations of corporate culture, including the individual
 attitudes of both men and women, and identified the characteristics and
 components of effective practices and programs. The E.D.G.E. in Leadership
 study has resulted in a six-themed road map, which leading industry
 executives will find of great value for evaluating their own company
 performance and implementing initiatives and programs to develop top talent
 at their own companies.
 
     Research has indicated that women now comprise the majority (58%) of
 college graduates, and the projected rate of increase in graduate level
 degrees to be awarded during the next decade is significantly higher for
 women (16%) than for men (1.3%).(1) In contrast, the E.D.G.E. in Leadership
 Study showed that top management positions in life sciences companies
 currently held by women range widely from 0% - 58%, company to company -
 maintaining a steady 17% average for the past five years.
 
     This E.D.G.E. study, which started in January 2007 and concluded in
 June, included 19 of the top 50 life sciences companies in the United
 States and Europe. Participating corporations provided human resource data
 and access to senior executives and middle managers for interviews and
 survey responses. The HBA and Booz Allen Hamilton study distilled six
 elements required to create an environment in which more women can reach
 their full potential in leadership roles:
 
     -- Unambiguous senior leadership support for the advancement of women
     -- Merit-based culture to ensure advancement regardless of gender
     -- Program metrics to track progress and evaluate success
     -- Leadership development programs customized to individual needs
     -- Career and work flexibility models to retain top talent
     -- Recruiting efforts that include a diverse team and diversity targets
 
     The study partners shared findings with the key sponsors, and the
 reception has been very positive. "The recommendations in the E.D.G.E. in
 Leadership Study certainly strike a chord," says Tim Rothwell, Chairman,
 sanofi-aventis US. "The study reminds us that we have an opportunity to
 partner our resources and programs even more effectively with the strong
 female leadership that exists within our company. That combination of
 strong female leadership, appropriate resources, and sound programs will
 help us meet the evolving needs of our workforce, our customers, and our
 patients. We already have exceptional female leaders from various
 backgrounds who set an example for women inside and outside of the company.
 But the further work we do on this front will form the foundation for even
 broader innovations to come."
 
     The quantitative results of the E.D.G.E. in Leadership study fill a
 significant knowledge gap in industry practices. "The HBA has always been
 committed to advancing women's careers, and the opportunity to work with
 Booz Allen Hamilton to document industry practices, as well as make
 recommendations for change, was a remarkable chance for our organization to
 further our own mission and form credible and lasting partnerships," says
 Cathy Kerzner, HBA President. "We look forward to the feedback we receive
 on the publication of these results, and we recognize the value of tracking
 progress over time. We are planning follow-up studies to further examine
 the impact of the study recommendations."
 
     The effects of the study findings are anticipated to be wide-ranging
 and global. Florence Manger, President Elect of the HBA Europe Affiliate
 says: "I am very pleased at the publication of the E.D.G.E. in Leadership
 study, which provides first-of-its-kind insights into the advancement of
 women in the EU and the US. Armed with the results, we can better
 understand the dynamics on both continents and identify similarities and
 differences. I'm confident that women from across Europe will read this
 long-awaited study with great interest, and will do all they can to
 encourage their company's senior leadership to implement its
 recommendations."
 
     Methodology
 
     Eighty-two senior executives from 19 of the top 50 life sciences
 companies in the US and Europe participated in in-depth interviews, and 237
 mid-level managers responded to a comprehensive survey. Twelve companies
 provided comprehensive staffing and program data from HR databases.
 
     Sponsorships
 
     The HBA E.D.G.E in Leadership study was funded by ten sponsors and nine
 contributors. Sponsors included Booz Allen Hamilton, Novartis,
 sanofi-aventis, Wyeth, Abbott Laboratories, AstraZeneca Pharmaceuticals LP,
 Celgene Corporation, Ernst & Young LLP, Johnson & Johnson, and Merck & Co,
 Inc. Contributors included Shire Pharmaceuticals, Millennium, Eisai Inc.,
 Sarga Associates, LLC, Christian Timbers, and Hodge/Niederer/Cariani. In
 addition, Park Street Research, Dorland Global Corporation, and FlashPoint
 Medica were in-kind contributors.
 
     Sponsoring companies are able to see how their own practices measure up
 against industry standards, which will be very useful benchmarks as they
 set their corporate objectives. The full study results are published in a
 white paper that can be purchased for use by all companies who are
 committed to advancing women in senior leadership.
 
     To access the video news release, a study abstract and information on
 purchasing the white paper, go to www.HBAEDGE.org or call (US)
 973-575-0606.
 
     1. SA Hewlett, C Buck Luce. Off-Ramps and On-Ramps. Harvard Business
 Review(March 2005).
 
     Healthcare Businesswomen's Association
 
     The Healthcare Businesswomen's Association (HBA; www.hbanet.org)
 celebrates its 30th year (1977-2007) as a global not-for-profit
 organization dedicated to furthering the advancement of women in healthcare
 worldwide. With 12 chapters and affiliates throughout the United States and
 Europe, the HBA is headquartered in New Jersey with offices in Philadelphia
 and Research Triangle Park. The HBA provides educational opportunities for
 women and men to develop cutting edge healthcare industry knowledge and
 leadership skills; recognizes outstanding women and men in the industry;
 provides opportunities for networking; creates greater visibility for women
 in the industry; fosters mentoring relationships; and serves as a conduit
 and sponsor for research on career advancement issues. The HBA has nearly
 4,000 individual members and over 115 corporate partners. It is widely
 recognized as the catalyst for the professional development and leadership
 of women in healthcare worldwide.
 
     Booz Allen Hamilton
 
     Booz Allen Hamilton (www.boozallen.com), a global strategy and
 technology consulting firm with over 90 offices on 6 continents, works with
 clients to deliver results that endure. They provide services to the
 world's leading corporations, government and other public agencies,
 emerging growth companies, and institutions. Booz Allen's major areas of
 expertise include strategy and leadership, organization and change
 management, operations innovations, sales and marketing, and information
 technology.
 
 
 

SOURCE Healthcare Businesswomen's Association

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