There is enough research to substantiate that companies that facilitate gender-diverse leadership teams perform better than those that don’t. According to Catalyst, Fortune 500 companies with at least three women directors saw an average return on equity increase by at least 53%, a return on sales increase by at least 42%, and a return on invested capital increase by at least 66%.
In organizations where innovation is vital to the business strategy, having female representation in leadership positions is crucial. The truth is that diverse teams produce more innovative outcomes. With more women taking on leadership roles, we have greater possibilities and opportunities to think differently and creatively and bring unique ideas to the table.
Women may play a crucial role in resolving the problem when firms contend with current talent shortages. Data shows that 56% of the most talented women engineers leave mid-career. Since a severe talent deficit exists in the tech sector, women and members of other underrepresented groups are crucial sources of potential. Diversity will only increase if we improve policies, elevate role models, and invest in our high-potential female employees. At Hexaware Technologies, we enable professional and personal growth for women through our Rising Women @Hexaware Technologies program. When we offer regular feedback to help women understand how they can accelerate their career track, and what skills they need to work on, we’re helping them realize the impact they can make on the organization’s goals and vision. We also believe in promotions that are based on merit rather than gender. This inherently empowers women and makes them feel valued and respected. In doing so, we also motivate other women, making it easier for them to follow suit.
One of our core values at our organisation has always been about putting our people first because we believe happy employees are the more productive ones. The other core value of our organisation is “Come on In!” which celebrates diversity and inclusivity. By promoting gender diversity, businesses demonstrate their commitment to fostering a healthy and inclusive workplace culture, which aids in attracting and retaining top talent. Centre for Creative Leadership recently did a study that found that employee engagement and retention were positively correlated with the number of women in the workplace. Those from companies with a high proportion of female employees were more likely to mention a supportive and meaningful organizational culture, such as having enjoyable work, a job that fits well with other areas of their life, and opportunities to make a difference.
CMO,
Hexaware Technologies
In today’s highly competitive global marketplace, customers and stakeholders seek organizations that are socially responsible and devoted to creating a positive influence on the world. By promoting gender diversity and inclusiveness, businesses can demonstrate that they are not only concerned with profits but also with fostering a brighter future for everyone. Companies that attract and retain female talent are undoubtedly better positioned for the future. They will also have a competitive advantage over companies that don’t. By creating a more diverse and inclusive workplace, we can help foster a more innovative culture and a thriving work environment.
It is also essential to look at this from a social standpoint – increasing the number of women in leadership positions isn’t just good for business but is also the right thing to do. By encouraging more young women to pursue high positions, we send a positive message to the future generation to pursue their passions and ambitions without fear.
