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Despite making up more than half of the population in the world, women are still largely under-represented in leadership positions globally.
However, it’s 2023, and the world is coming to terms with the undeniable importance of having women in strategic top leadership positions, like the board of a company.
A study from the CFA Institute showed that companies with strong female leadership generated an ROE of 10.1% in contrast to the 7.4% ROE generated in companies without strong female leadership.
A variety of ideas, perspectives, and backgrounds is a key factor in the growth of an organization. According to a study by PEI in Government, boards with greater diversity tend to be more innovative.
One way to have this diversity is the introduction of people from diverse races, ages, and genders. The representation of both males and females on the board will lead to an influx of fresh ideas and better decisions. This will then lead to better strategic planning, and eventually an exceptional performance of the company.
Some of the benefits of having a diverse board include;
Females are built differently, and some of the natural traits of a woman can be quite useful in an organization. For instance, according to studies by PNAS, females are better empathizers than men and empathy has been proven to be a very useful trait in decision-making.
Here are some reasons why women should be on corporate boards;
There is a correlation between women on corporate boards and excellent corporate performance. Here are some statistics that back this statement;
Females are more open to meaningful collaborations. Women leaders are more likely to engage with society, finding firsthand critical problems, and thinking up collaborative ideas that can resolve the problems.
Women tend to lead teams to follow ethical approaches instead of engaging in bad business practices. This level of transparency produces long-term results for organizations.
Female leaders have been known to show more concern for the welfare of others. This leads to better working conditions and a healthier office environment. Women tend to proactively provide development opportunities for employees.
Conclusively, it is clear that having women on board creates value for organizations. Companies should intentionally invest in the introduction of female leaders into their boards.
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Despite making up more than half of the population in the world, women are still largely under-represented in leadership positions globally.
However, it’s 2023, and the world is coming to terms with the undeniable importance of having women in strategic top leadership positions, like the board of a company.
A study from the CFA Institute showed that companies with strong female leadership generated an ROE of 10.1% in contrast to the 7.4% ROE generated in companies without strong female leadership.
A variety of ideas, perspectives, and backgrounds is a key factor in the growth of an organization. According to a study by PEI Women in Government, boards with greater diversity tend to be more innovative.
One way to have this diversity is the introduction of people from diverse races, ages, and genders. The representation of both men and women on the board will lead to an influx of fresh ideas and better decisions. This will then lead to better strategic planning, and eventually an exceptional performance of the company.
Some of the benefits of having a diverse board include;
Women are built differently, and some of the natural traits of a woman can be quite useful in an organization. For instance, according to studies by PNAS, women are better empathizers than men and empathy has been proven to be a very useful trait in decision-making.
Here are some reasons why women should be on corporate boards;
There is a correlation between women on corporate boards and excellent corporate performance. Here are some statistics that back this statement;
Women are more open to meaningful collaborations. Women leaders are more likely to engage with society, finding firsthand critical problems, and thinking up collaborative ideas that can resolve the problems.
Women tend to lead teams to follow ethical approaches instead of engaging in bad business practices. This level of transparency produces long-term results for organizations.
Female leaders have been known to show more concern for the welfare of others. This leads to better working conditions and a healthier office environment. Women tend to proactively provide development opportunities for employees.
Conclusively, it is clear that having women on board creates value for organizations. Companies should intentionally invest in the introduction of female leaders into their boards.
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