Companies Leave Millions on the Table When They Don't Invest in Women
Data shows there are huge financial benefits to gender-balanced and female leadership at companies. These companies achieve increased sales, better returns on investment and are more likely to outperform their peers. Additionally, these companies take a broader view of opportunities which results in smarter risk-taking, more innovation and breaking through the group-think that comes from too many like-minded leaders.
So how do companies reap these benefits? The first step is to get serious about them, at the top, and consistently send that message down the ranks. Measure results, visibly. Create accountability. Put money into the programs that make a real difference - not just once but on an ongoing basis. Here are a few places to start:
Develop internal women's leadership programs
Identify male and female mentors who are available for women to reach out to
Create a sponsorship program for leaders to help women advance in their careers
Provide memberships to external women's networks
Conduct unconscious bias training - with leadership participating alongside employees
Develop gender-blind recruiting, performance and pay evaluation tools
Offer equal family leave to men and women for all types of family planning
Create schedule and location flexibility options for everyone
These efforts will make significant, lasting improvements to the top line while developing dedicated, highly engaged employees who stay long-term.
Sources: 1,3) The Female Quotient "Modern Guide to Equality,"January 2018; 2,4,5) Sallie Krawcheck "Own It: The Power of Women at Work," 2017