The struggles of women in the workplace have been well documented.
The challenges range from discrimination to the gender pay gap, and the lingering concept that men are more effective in leadership roles. A recent study revealed that in fact, women get higher marks for leadership in mid-level and senior leadership roles, even when they serve in traditionally male-dominated industries. Women deserve equal consideration for promotion, pay equal to their male counterparts, and to be treated with equal respect.
The pandemic has taken a toll on many aspects of the workforce, but women have been disproportionately affected. And, according to the Harvard Business Review, when women leaders leave the workforce, it has far-reaching effects. They tend to have more engaged teams, drive better job performance, and save their organization millions of dollars as a result. Many companies have enjoyed exponential growth under the stewardship of talented women.
When searching for the ideal candidate for a team leader, look to performance, not gender. The difference between the generality of male vs. female in a leadership position, requires avoiding stereotypes, bias, and relying on facts.
The Harvard Business Review evaluated almost 9000 management reviews, finding that women managers excelled at every trait considered ideal in corporate leadership. Some of the performance metrics included relationship building, teamwork, and the ability to motivate others, which may be considered “female” traits – but also found that women excelled at other traits traditionally ascribed to males, such as personal drive, taking initiative, honesty, resilience, bold leadership, and innovation.
Only 12 of the Fortune 500 companies have a woman in the CEO role, but it is worth noting that firms with women board members enjoy a 42% higher sales return, and a 66% higher return on equity. Many examples of the success of women in leadership roles are found in the corporate community, but likely not enough.
When considering a business leader, a performance-based approach is the smart way to choose the best of the best on merit, rather than personality, gender, connections, or other considerations. This approach is not only fair but comes with the most important advantage – you are much more likely to choose the best leader for your business: One who will take your business to higher levels of success.
A diverse workforce delivers much more than higher profits. Research reveals that companies that have built a diverse workforce are more able to capture new markets, achieve long-term growth, and have higher performance levels. At an Amazing Workplace, employees are confident they are valued for their skills, feel supported and their talents recognized and rewarded. An inclusive business culture is more likely to inspire loyalty, increasing retention. Secure, confident employees are more productive, creative, innovative — and loyal.
Women have a natural tendency towards inclusivity. They communicate clearly and often, starting meaningful conversations that increase clarity of message and purpose. This helps make the team environment less authoritative and more cooperative.
Women leaders bring skills, different perspectives, and innovative ideas to the table and can make your company a great place to work.