A 2017 report by Morgan Stanley states that more gender diversity, particularly in corporate settings, can translate to increased productivity, greater innovation, better decision-making, and higher employee retention and satisfaction.
However, this is not something that every company follows religiously. Even though there are several benefits, company leadership across the globe is still unbalanced with women accounting for less than a quarter of management positions globally. And the disparity is even greater when it comes to higher-level management positions.
Women bring a different perspective to business and companies across the globe need to acknowledge and leverage it, however, over the years the gap is not filing. Therefore, it is high time to fill the void in the industry and increase the opportunities for more women executives. And in order to combat the gender gap and move women workforce towards greater leadership balance, both companies and women need to make use of some of the key strategies.
It takes more than just words to overturn years of systemic inequality and create opportunities for more female executives. And in a company, it all stars a more inclusive environment and employees get rewarded based outcomes achieved instead of hours worked. Companies without a culture that doesn’t encourage success are undoubtedly useless, no matter how much they put in their efforts to hire women to leadership roles.
One of the most initial steps of creating such a culture at the workplace is to have a diverse pipeline and diverse hiring team. Rather than asking the candidate about her salary history, the hiring department should determine how much certain skills and responsibilities are worth based on reliable market information.
Reverse mentoring is usually about letting older executives get mentored by younger employees. And this can even be used in a way where top leaders who are often male get mentored by female mentors who have been identified as future leaders.
This is considered to be one of the most effective ways to create visibility of upcoming female leaders to top executives. Also, it let female leaders to a clear view of the most strategic work at the company.
Encourage Women To Apply For Leadership Job Roles
According to a Hewlett Packard internal report, men usually apply for a job when they meet just 60% of the job requirements, while on the other hand, women only apply for jobs when they meet 100% of the requirements.
If the fact is true, then it is high time that women should change this mindset of applying for jobs. In this fast-paced skill-driven era, it is time to drop the conception that you cannot do a job well just because you don’t have the qualification.
Furthermore, the other view is that people tend to hold back from applying because they misunderstand the hiring process. They end up believing that they need the qualifications not to do the job well, but to get hired in the first place.
Let The Women Leaders Go Out And Inspire
To make a difference across industries it is imperative the companies start to inspiring other firms in improving opportunities for a female executive. And one of the best ways to do it is by making women leaders visible to the world. Many companies across the globe raise the visibility of her women employees by encouraging them to take part in events like The Rising 2019 and speaking to a greater crowd. It is without a doubt is one of the best ways to give wings to women to fly and achieve leadership roles. This not only let the women employees share their knowledge but also give them the opportunity to network with the chief from the respective industries.
Transparent Career Mapping
According to the McKinsey/LeanIn report, compared to men, women are less likely to get into a manager-level job. And this might happen due to partial career mapping. To deal with this, many companies across the world are taking sheer steps such as matching senior leaders (mostly male) to rising female talent to discuss development plans, stretch assignments, promotions, and networking opportunities. This structure is considered to be one of the best ways to remove the chances of women not being aware of opportunities for their development at higher levels.