By Smiti Bhatt Deorah
While women leadership is becoming a major sub-theme across business management, there is still further scope for improvement. For centuries we have talked about leadership but have focused primarily on men’s experience in leadership while disregarding the profound differences in workplace experiences that exist between genders. Women leaders continue to defeat many workplace barriers caused by prevalent gender biases and have, time and again, emerged as transformational role models. Their challenging journey to the top allows them to develop themselves remarkably while inspiring the rest. This leaves no room for doubt or for anyone to challenge the need for more women in leadership roles.
While the world is being ushered into the fifth industrial revolution, many global tech revolutions (AI, VR/XR, AVs, quantum computing, blockchain, IoT and 3-D printing) are co-occurring. Interestingly, all of these new-age paradigms require capabilities that women leaders naturally bring to the table.
A study conducted by the Australian economist Conrad Liveris affirmed that there are more CEOs named Andrew than the total number of women CEOs. In other words, there were more male CEOs with the same first name helming Australia’s top 200 significant corporations than women.Another survey by aauw.org depicted that among the fortune 500 CEOs in the US, only 7.2% are women, and only 25% possess C-suite roles across top 1000 companies. These figures reiterate that the total number of women leaders in the business world forms a paltry figure compared to their male counterparts. Even though it is the 21st century and women have emerged in pivotal roles across industries, their overall representation in the business world is still disproportionate, to say the least. It is time that corporate institutions recognise the importance of having women leaders and enable them to scale new milestones.
Recently, the call for greater gender equality and a greater emphasis on the need to bridge the salary gap between men and women has been growing. While considerable advancements have been made in this area, there is still a critical deficiency of women in leadership roles. Organizations must chart more effective policies and prospects for women to address this situation. On the other hand, women also need support and mentorship to march ahead and slay the odds that hitherto constrict them today.
A study by Gallup illustrated that organizations with a gender-diverse workforce are superior in performance and productivity than those marked by a single gender.
Let us explore the various reasons why women leaders are imperative for charting long-term business growth in any organization:
- Women deliver fresh perspectives
Women leaders offer varied experiences and viewpoints that significantly nurture innovation since diverse perspectives enhance decision-making. As a result, companies with greater diversity tend to overtake those with lower diversity. When women assume the role of leaders, they bring considerable talents and new views alongside structural and cultural diversity to extend more successful solutions.
- Women lead more efficiently
Another recent research indicated that women are more attuned towards becoming capable leaders than their male colleagues. It has been seen that Women become more effective than men in leadership and management roles after passing the age of 40. It has already been underlined that Women executives bring talents, new perspectives, and unique ideas to the table. However, when all of these factors are combined, they aid in developing new viewpoints that improve corporate decision-making.
- Women are more empathic
An empathic leader operates on the philosophy that everyone observes the world differently without passing judgment. Such leaders can relate better to their team, openly engage with them, and understand when they encounter different predicaments. An empathic leader makes it a point to listen to their team before decision-making, thus laying the roadmap for success. Women are considered more empathetic leaders than authority figures, which helps them influence others towards a shared goal. Women leaders are open-minded and understand diverse viewpoints, enabling the interchange of ideas and lending a new perspective on things.
- Women are more efficient in communication
Women are great at communicating and collaborating in everyday aspects of life. Women are considered to communicate with connections at the workplace, making them better communicators. On the other hand, male leaders speak with authority and have a one-upmanship mentality.
Communication is thought to be one of women’s most vital abilities. Female leaders will use this capacity to have more meaningful dialogues with their bosses, coworkers, and partners, resulting in an open line of communication and a sense of clarity.
An open communication stream enables clarity in performing roles and responsibilities, whether interacting with employers, coworkers, or partners. Female business executives can frequently communicate on a straightforward and honest footing.
- Women resolve crisis better
Women are more equipped with the abilities needed for crisis management. They possess unique leadership qualities that prove invaluable, especially when a contingency or emergency arises. These qualities include People-development, the capacity to set clear standards and rewards, the ability to serve as a role model, inspire, and participatory decision-making etc.
- Women leaders can help bridge the gender pay gap
According to a report released by the United Nations, the global pay gap between men and women is 16 per cent, implying that women earn only 84 percent of what men do.
Despite everything, the gender wage gap is prevalent across organizations and workplaces. Thankfully, several organizations are making efforts to bridge the gender pay gap by offering numerous leadership roles to women.
Conclusion
Women leaders are a clear requirement for any organization that looks to make it big in the twenty-first century. Therefore, companies must deploy every possible effort towards empowering women with suitable leadership roles that can help them prove their productivity and potential. Having more women leaders in the workplace also creates a safer perceptive environment for other women who join the company, making them more comfortable and retained in the long run. However, amplifying workplace diversity is a tasking affair as it necessitates the support and participation of each and every employee in the organization.
(The author is Smiti Bhatt Deorah, COO & Co- Founder, Advantage Club, and the views expressed in this article are her own)
