3 Reasons Why Having Women Leaders Is Good for Business
by Abdul Aziz Mondal Business Development 09 October 2018
The market today is very different than it was a few years ago. People pay closer attention to why and how you do business and not just the products and services you offer. Economic equality and diversity are among the most talked about topics of today.
The push for diversity is coming from different directions. That push isn’t just about equal opportunities for people with different backgrounds, but also about equal opportunities for men and women. There is overwhelming support for more women executives and leaders.
More businesses have women in their middle- and top-management teams, but the overwhelming push mentioned earlier isn’t the only reason why changes are happening. There are reasons why having women leaders is good for business.
Expanding Your Pool of Talents:
Human resource management is one of the biggest challenges faced by companies today, especially in a market that facilitates businesses to grow rapidly. The growth of the business isn’t always proportional to the growth of the team; this is a potential long-term problem for the business itself.
Companies cannot hire as quickly as they grow if they continue to search potential candidates using obsolete parameters from old sources. This is where considering women leaders can be highly rewarding for the business.
As soon as you tap into the pool of female talent, you will discover incredible talents that are more than capable of filling strategic roles throughout the company. Some businesses even replace their retiring CEOs with women business leaders who have the right capabilities.
New Ideas to Develop:
Another major advantage of having women in your leadership team is the steady stream of fresh new ideas and alternative perspectives. It is natural that women think differently than men; that’s actually a good thing for the business since every idea and decision is now made with all things considered. Therefore, a women leadership program is a necessity for businesses.
Having a more diverse leadership team allows the business to take more factors into account. The discussions on a decision can run deeper than before, and there are more women to provide their insights along the way.
The result is improved decision making and thought-processes, and that improvement brings further advancements to other parts of the business. In some cases, women leaders help their employers to tackle aging problems using their fresh perspective.
Better Business Outcomes:
If you think the capabilities women bring to the table don’t improve the bottom line, you are mistaken. In the old days, businesses were reluctant to hire women because they thought they could squeeze more productivity from male workers.
In today’s world, women executives are contributing to the companies they work for more than ever. A recent study by McKinsey revealed that companies with better diversity actually bring home higher returns, with a whopping average boost of 15% to be expected.
The title of that report says it perfectly: Diversity Matters. Women are filling some of the best, most strategic positions in today’s market and they are doing incredible work respectively. It is time for your business to benefit from having capable women assisting your middle- and top-level management teams.