Leadership of the business world and business schools came together at the White House in August to address the need for policies and programs that work to create opportunities for women and work better for families. From this meeting an outline of best practices emerged to guide business schools in better meeting current and future needs of students.
Four key areas are addressed by the agreed upon plan:
"¢ To ensure access to business schools and careers for females
"¢ To create an educational experience to prepare female students to enter the modern and future workplaces as leaders and achievers
"¢ To create and maintain career services which go beyond traditional student services and schooling
"¢ To create examples of how organizations should utilize educational opportunities for women
Several schools announced actions they will undertake to further these goals. For example, Columbia Business School announced they will demonstrate their commitment through specific actions such as:
"¢ Faculty Research and Leadership on the State of Diversity in Business - Conducting cutting-edge research on gender equality and its implications on business.
"¢ Community Support from the Ground Up - Support for various student groups focused on diversity
"¢ Being Part of A Culture-Changing Network - Partnering with equality group such as Goldman Sachs' 10,000 Women Initiative
Glenn Hubbard, Dean of Columbia Business School said, "Columbia Business School has long believed that empowering women to reach their full professional potential will create tremendous value for the global economy and society at large. Stemming from this belief, we are excited to work with the White House to expand opportunities for women in the 21st century executive workforce.
This increased focus on women in business school is no surprise as more and more companies are looking to further diversify their workforce and expecting business schools to offer them a more diverse talent pool. What does this mean for applicants? Well, female applicants should definitely consider applying early and often to schools. You should also expect some more scholarship dollars to be available. Don't forget to also search for scholarships from outside the schools. While non-profits typically are the best source, don't be surprised to see more companies trying to fund students' scholarships. Many companies want to get in early on recruiting diverse talent and will provide more than just dollars, but also mentoring, training and early access to interviews.
When you are at business school, expect to see even more demand from recruiters than usual. Companies have typically held special programs targeted to recruiting female candidates. For example, consulting firms often will have special lunches and case prep workshops for women. Imagine getting the chance to learn from the pros all the inside secrets to cracking those really tough case interview. Make sure to take advantage of these! They will definitely give you a leg up in the interview process.
The AACSB International announced the publishing of these best practices on their website. The AACSB is the accrediting body of over 700 institutions and has a membership of over 1,450 business schools worldwide.