If you are SHOCKED at the title of this article relax, I promise that if you read to the end you will be beaming with a smile on your face. There has been a lot of debate all over the world around the benefits of investing in women and girls and having women in top management positions.
If we look at the success of women-led countries such as New Zealand, Germany, Finland and Taiwan in dealing with the Covid-19 pandemic in comparison with their not so exciting counterparts USA, Britain, Italy and Spain, we might as well close shop and stop this article right here. However, research shows that there is no evidence to suggest that women-led countries performed better than countries under the leadership of men in dealing with the pandemic. Though, between you and me ladies, we all know the truth.
Below is a non-exhaustive list of the benefits of investing in women in the workplace.
- According to a survey by the Peterson Institute for International Economics on 21 980 companies across 91 countries, it was found that having women in management positions increases a company’s profitability.
- Having more women in the workplace increases diversity of thought and creative thinking.
- Limits Groupthink. Bra Google defines Groupthink as a psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.
- Women make great mentors. Though, Sheryl Sandberg in her international best-selling book “Lean in Women Work and the Will to win” argues that sometimes women in the workplace can be barriers to gender equality. (I can picture all the ladies go “Vele”).
- Increases the retention of skilled staff. More opportunities for women, less reason for them to leave for greener pastures.
- Women are more collaborative. Women are more likely to apply a democratic leadership style allowing everyone to state their case and reach a mutual decision. This goes a long way in making employees feel part of the team.
- Millennial women are more educated than millennial men. This holds true in Africa and in Western countries. Ordinarily, smarter individuals make smarter decisions.
- Women build good trust relationships. According to a study conducted by the Pew Research center in the United States, it was found that 34% of workers found that women are more honest and ethical as compared to 3% that feel men are better.
Gender inequality is an issue all over the world. It is deeply rooted in history and will require a concerted effort from both men and women. Whilst there is progress that has been made over the years, there is still a long way to go.
If you’re a woman reading this article, Happy Women’s Month Queen.
CNBC Make it. 2018. Companies with more female executives make more money – here’s why, 2 March 2018. [Online] Available at: https://www.cnbc.com/2018/03/02/why-companies-with-female-managers-make-more-money.html
Eyewitness News. 2020. Women doing better than men in education – STATS SA. Available at: https://ewn.co.za/2020/02/25/women-doing-better-men-in-educational-outcomes-stats-sa
The boardist. 2016. 5 reasons why having women in leadership benefits your entire company, 5 September 2016. [Online] Available at: https://medium.com/@theBoardlist/5-reasons-why-having-women-in-leadership-benefits-your-entire-company-labor-day-2016-a3e46162a7a0