Women in leadership positions improve corporate performance and are the key to meeting the business challenges of the future. Consequently, promoting women in leadership positions increases diversity, which is imperative in today’s business world.
The sub-theme of women in leadership in management is expanding. Since ancient times, we have discussed leadership, but we have largely ignored the stark differences in how men and women approach their work environments.
Women still only make up 19.7 percent of board members worldwide, according to a report, despite a 2.8 percent increase from 2018 and a 1.9 percent increase from 2016-2018. Near global parity is unlikely to be reached until 2045 if current trends continue.
There is a striking lack of female representation in the upper echelons of organisations around the world, as shown by these numbers. Despite progress in areas such as gender parity and women’s representation in the workplace, especially at the top, much remains to be done.
Gender Parity: The inclusion of more women in leadership positions has additional benefits beyond advancing gender parity, including an increase in productivity. A study found that businesses with more than 30% female executives outperformed those with between 10% and 30% female executives, which in turn outperformed businesses with even fewer female executives or none.
Gender Bias: Gender biases are often overcome by women leaders, who also serve as transformational role models. They can develop themselves remarkably because of their difficult ascent to the top and set an example for others to follow. It is now harder to argue against the need for more women in leadership positions.
Need of 5th Revolution: Women in leadership should be more prevalent for other reasons as well, though. The global technological revolutions—AI, VR/XR, AVs, IoT (Internet of Things) (internet of behaviour), blockchain are currently underway as the world enters its fifth industrial revolution; each of these revolutions calls for leadership qualities that women just like men naturally bring to the table.
Impactful: There is evidence that businesses perform better when there is close to an equal ratio of men and women holding executive positions. Better decisions, more efficient problem-solving, and increased profits are just a few examples of how a diverse leadership team can shine. Moreover, innovation, creativity, and competitiveness can all benefit from the unique perspectives, skills, and experiences that diverse leadership bring to the table.
Diversity in leadership positions contribute to fostering an environment conducive to innovation because of unique life experiences of men & women. So, businesses with more diversity tend to outperform those with less.
Vice-President & Senior Financial Manager
Turner International
Fostering Soft Skills: Women are equally well suited to leadership roles as they exhibit qualities of patience, emotion and empathy towards their subordinates and peers. They also embrace innovation and change which is the pillar of every organisation’s success.
Good Mentors: Women leaders can act as coaches and mentors to their subordinates. They do have an innate understanding of the value of nurturing the growth of those around them, of remaining teachable and open to new information, and of leading with empathy. Women’s strengths in empathy, collaboration, and relationship-building shine brightest in times of crisis, allowing them to gain followers’ trust and confidence in their leadership.
There has been a significant shift in the way women are viewed as potential leaders in India’s business world. Female CEOs are shattering barriers to entry and establishing successful new enterprises, which benefit the industry.
