According to Women In Workplace 2019 study by McKinsey & Company, the overall representation of women in the C-suite is far from parity. About 1 in 5 C-suite executives is a woman—and only 1 in 25 C-suite executives is a woman of colour.
Though the benefits of having women in leadership roles are well documented and proven in various aspects like enhancing collaboration, employee motivation and decreasing employee burnout, there’s still a huge gap in aspects like the pay and leadership roles.
As an HR manager, it is important to see the impact of this unfair dynamic at your workplace. All employees should feel respected and that they have an equal opportunity for advancing their career trajectory. With generation Z, who care deeply about opportunity and fairness for everyone, it has become more important now than ever to give equal opportunities for women leaders.
According to a recent study, The XX Factor, Strategic Benefits Of Women In Leadership, by Peakon, women leaders outshine their male counterparts in Strategy and its sub-drivers. Moreover, employees at women-led organizations have a deeper conviction about the value of their offering.
With a marketplace that keeps changing constantly, the need for a diverse perspective and creative solutions has increased now more than ever. It is important for managers and HRs to now understand the importance of having women in leadership roles. It isn’t hidden that women face more barriers compared to men when it comes to fully participating in the economy.
Be it in business or in politics, the world is in desperate need of great leaders. It feels satisfying to read news about the progress we are making when it comes to equality but despite all the progress we have made, women are still underrepresented in leadership roles.
This article aims to highlight the importance of focusing on promoting and supporting female leaders in your business.
Diversity Drives Innovation And Productivity
It is a known fact that a diverse and inclusive workplace helps drive employee productivity and helps the organization understand various perspectives and come up with creative solutions. Similarly, it is important to introduce diversity in the C-suite as well. Having men in all leadership roles in an organization results in lack of perspective and lack of innovation.
Women leaders are proven to come up with innovative solutions for common issues faced by the corporate and drive productivity and engage their workforce while their counterparts had given up.
Women-led Businesses Are Better Perceived In All Aspects Of Strategy
Like mentioned above, according to a study by Peakon, women-led businesses are better perceived in all aspects of strategy. Women-led businesses are perceived as more effective in communication and mission. These businesses are highly respected and inspire their workforce by the purpose and mission of their organization. This study also mentions that women possess skills to cultivate belief in their company’s product.
Women Excel At Soft Skills And Emotional Intelligence
Women are excellent trust builders and possess soft skills and negotiating skills that can help their business benefit. Often referred to as emotional intelligence, these refer to the leadership abilities like communication, negotiation, self-motivation, ability to inspire, problem solving, critical thinking etc. These skills often help businesses grow from scratch and accomplish successes.
Women Are Brilliant Mentors
What is it that we look for in a manager? A person whom we can look up to and excel ourselves. Women, being emotionally intelligent, understand how to act as a mentor to their employees. Women in leadership roles not only inspire people around them but also help these employees relate to their journey, which helps them mentor these employees successfully and help them achieve success.
It’s 2020
Yes! You heard me right. We need to create more opportunities for women to lead the workforce because it is 2020. In this era of feminism, it is important to realize the unfairness that is prevailing and collectively work towards bridging the gap. There are many barriers that women have to face from time to time in the professional world and it is time to acknowledge it and let the ladies lead!
This Women’s Day, 2020 let’s join forces to dedicatedly create more opportunities for women in leadership roles!