In today’s highly competitive world, businesses are constantly seeking new ways to drive innovation and stay ahead of the curve. Plenty of creative solutions exist that can help companies thrive, but many of them instead choose to repurpose old ideas. One of the best solutions to help your business is building a diverse team of leaders. When your leadership team has people from different backgrounds who have each had different experiences, it allows for more out of the box solutions that help drive real change in a business. There’s one aspect of diversity, in particular, that is rather easy to address and can help any business thrive: gender equality, specifically women in leadership roles.
Having women in leadership roles can help companies thrive in multiple ways. Studies have shown that when organizations have women in leadership roles, they’re more likely to have financial returns above their median and that when at least 30% of a company’s leadership is made up of women, that company is 1.4 times more likely to have sustained profitable growth. Unfortunately, women only account for about 39 percent of world employment and only 27 percent actually hold leadership positions of some sort. It’s important that organizations take a look at their own workplace culture to see how they can work on gender equality. Read on for a few things to think about when examining your own organization.
While employing a diverse workforce is important, it’s also important that these individuals are heard. You can have women in the board room, but if they’re thoughts and ideas are often rejected, it doesn’t empower them in a way that is productive for your business. Be sure that every member of the team, regardless of gender, is able to say their piece and confidently share why they think something is or isn’t good for the business, and the ideas they have instead. This will not only create a more powerful bond for your team, but it allows your company to get a better look at the bigger picture by putting the ideas and thoughts of a diverse group of individuals to the front of your organization.
Every individual has unconscious biases, even if they say they don’t. It’s okay to have these biases, but it’s important to be aware of them in order to ensure it doesn’t affect how leadership is chosen. Many studies exist that show how males are often looked at as people who will grow into their positions, whereas females are more commonly considered to be unproven and risky hires. It’s important that you address these biases when going through the hiring process, as not doing so could cause you to not only overlook someone who deserves the position but also fail to make a truly diverse group of leaders and employees.