The women in senior roles are increasing, mid-market companies having at least one woman in a senior management role.
The companies that boast a higher representation of women on their boards, notably outperform the organization that don’t. Furthermore, studies have also outlined that women leadership in business with greater gender diversity, not just within their workforce but directly among senior leaders, are significantly more profitable than those without.
In recent decades, there have been calls for greater gender equality while enhancing the need to close the gender wage gap, and although tremendous strides have been made in this aspect, there is still a fundamental lack of women in leadership roles. Simply put, this doesn’t seem right. Organizations have a responsibility for creating better policies and opportunities for women. Still, at the same time, women also need support to step forward and overcome the habits holding them back.
With this said, let’s dive into the world of women in the workplace, outlining the need for their presence and mindset and providing 10 core reasons why organizations should no longer overlook the prospect of employing more women leadership in business roles.
There are 10 reasons why we need more women in leadership roles at the workplace: –
In today’s world, women may not always realize their potential, and once unleashed, they have a direct route to success. When they find themselves in a leadership role, their capability and abilities are undeniable. However, it’s simple to claim this, so that establishes the need to outline multiple benefits women leadership in business can bring.
- Women leaders will paint the future:
A woman who is currently not in a leadership role can be a daunting prospect entering such a high-profile role with current stigmas that may be attached. In turn, this could push away the younger generation from striving to break down barriers. In 2019, the proportion of women in senior management roles globally grew to 29%, the highest number ever recorded. In 2020, this percentage remained the same. While this can be considered positive news, women just entering the workforce will need to be inspired by other women who are currently smashing their role as a leader in the workplace. Once achieved, it can carve a direction for all young aspiring women leaders to increase the global percentage and break new records.
- Unique transformational ideas will be brought to the front:
A meta-analysis comparing male and female leaders identified those female leaders were more transformational. They demonstrated more contingent reward behavior than the two-dimensional actions (active and passive management) presented by male leadership.
- The enhancement of teamwork:
There is no doubt that we’ve all seen women demonstrate passion, enthusiasm and a capability to take command of a situation when need be (let’s not look further than our own mothers or female caregivers in this instance). Women leadership in business are able to make bold and wise decisions; this helps make the team environment less authoritative and more cooperative, bringing a family-like feel to the team. This boosts teamwork across the organization and helps implement a new culture within the business.
- Women demonstrate superior leadership values:
According, to a survey statistic half of the respondents ranked women as more honest than men, with 20% saying that men are more honest than women. In terms of intelligence, 38% said they viewed women as smarter, with only 14% indicating men are smarter. For the other cases, women were ranked for being more compassionate, outgoing and creative.
- Business-wide communication can be enhanced:
Communication is said and known to be among a woman’s strongest skill. Female leaders will utilize this power to enhance meaningful conversations with employers, co-workers and partners, thus creating an open communication stream that creates a sense of clarity.
- Achieve a better financial outcome:
Within a more diverse workplace, the more likely creative ideas are going to be presented. This helps fuel growth and helps create more sustainability within an organization. Diversity in the workplace should not just prioritize women, but instead, have a fluid combination of both genders throughout the organization. Workplace gender diversity helps increase productivity, creativity, improves performance, staff retention, and, as established, boosts collaboration throughout the business. In a workplace study, 21% of businesses are more likely to experience above-average profitability if the workforce is gender-diverse.
- Fresh new outlooks and perspectives:
We have outlined the need to construct a diverse workforce, and with this will come new experiences and perspectives that ultimately contribute to bringing some much-needed innovation into the business. Women leaders will bring skills, different perspectives, and innovative ideas to the table, but these three combined will help create new perspectives that lead to better decision-making as a whole for the business.
- Women leaders can provide better mentorship:
Especially for the younger generation, the power of role models cannot be overlooked. Regardless of a person’s gender, all people need someone who will guide them to progress in their careers. Specifically, for mentoring and coaching young talent, women leaders are better mentors than men. According to a study, 29% of women believe that their gender will be an obstacle to advancement. To overcome this obstacle, women in leadership positions can take this opportunity and begin empowering the bright young minds of the next generation.
- The ability to wear many hats:
In a women’s life, wearing different hats within their roles is often a common occurrence. You can find them often balancing careers, households and taking up the mantel of parental guidance along with many other experiences. These combined help women leaders to quickly adjust to new situations and focus on finding solutions to real-life work issues.
- Women in leadership roles can close the gender pay gap:
Something that can often be overlooked is that the gender pay gap can be transformed into a gender opportunity gap. It has been seen that when males and females start their progress from scratch, men are usually offered more opportunities leading to higher-paying positions.