Recently, one of the biggest states in America made headlines by passing a law that requires publicly traded companies to include more women on their boards of directors. This is a very positive development for gender equality, but it is still worrisome that laws are needed to make sure that women are more evenly represented at all levels of societies.
Here in India, we are also progressing with women becoming increasingly present in business atmospheres. At a personal level, I am proud to say that all my daughters are involved in our organization.
“A 2016 survey of 21,980 publicly traded companies in 91 countries concluded that ‘the presence of more female leaders in top positions of corporate management correlates with increased profitability of these companies,’ ” according to an article on medium.com.
Adding more women to boards and the overall workplace increases diversity. Researchers have found that an increase in diversity leads to better problem-solving. That is because a diverse group of people brings a variety of ideas and thoughts to the table. This can only translate into a wider field of thinking and problem-solving.
People also tend to trust women more. Research conducted by Pew shows that 34% of people view women as more honest and ethical while only 3% believe this to be true for men. That is a big difference. If you are working for people who do not trust you, then it is difficult to make any progress.
Research also shows that women are more likely to work together, whereas men are more clouded by their egos. Successful businesses cannot thrive without productive teamwork. There are many times when we come across people that we would rather not deal with. However, leaders of an organization cannot conduct business in this manner. When you have more people who are willing to reach across the aisle and work as a team, progress is made.
Lastly, women are also seen as better mentors. This could be related to the overall trust advantage that women have over men. Whatever the reason, this quality provides great opportunities for employees who want to learn and advance their careers. When they encounter leaders who want to help them, employees feel encouraged and motivated. What business wouldn’t thrive with this attitude?
Women are an integral and valuable part of society and the business world. We must make every effort that we can to make sure their voices are heard loud and clear.