The Future is Female—Why Women Need to Be in Executive Roles

The Future is Female—Why Women Need to Be in Executive Roles

In 2021 it was measured that only 26% of all C-suite roles were occupied by women. Despite decades of progress to narrow the leadership gender gap, there's still a significant lag between the representation of women in executive positions and that of men. Regardless of income levels or geography, disparities persist between men and women in the U.S. in the form of pay gaps, unequal opportunities for advancement, and unbalanced representation in important decision-making processes

There's no question that women in leadership have a positive impact on the workplace; benefits include improved productivity, enhanced collaboration and decreased employee burnout. While we’ve made substantial strides toward creating more gender-inclusive work environments, many organizations still don’t view gender diversity as a priority because they don’t see how it could benefit their bottom line.

Why Is It Important to Have Women in Leadership Roles?

A more inclusive and diverse workforce, including more females in executive leadership positions, is essential to driving organizational success. Here are just a few reasons why promoting and supporting women leaders should be a top priority for any organization.

  • Achieve a Better Financial Outcome
  • The more businesses focus on recruiting and retaining diverse talent, specifically female executives and managers, the more likely they are to increase their financial performance. According to McKinsey, the most gender-diverse companies are 21% more likely to experience above-average profitability.

    This is likely due to the increased ideas and collaborative nature that women can bring to leadership roles. You cannot expect a single-sex workforce to be able to mimic the natural success of an equally balanced work environment. Outside opinions will work to provide perspective and give your organization a competitive edge it would not otherwise have.

  • Helps Bridge the Gender Pay Gap
  • The Gender Pay Gap is a frustrating and antiquated issue that unfortunately still exists. A big driving force behind the uncontrolled gender pay gap is occupational segregation. Men have historically been pushed toward positions of leadership and management, whereas women have been pushed toward more nurturing and service-oriented positions, thus creating a pay disparity.

    Placing more women in executive positions actively works to lessen the gender pay gap. While the pay gap is a large issue that will take time to eradicate, taking responsibility within your organization to lessen its effect will contribute to a much larger picture over time.

  • Creates Better Mentorship and Development Opportunities
  • The power of mentorship and leadership development is often underestimated. Regardless of gender, all professionals can benefit from strong mentoring relationships to help them learn new skills and progress in their careers. Research shows that women leaders specifically can act as skillful and trustworthy role models to newer colleagues and identify as better mentors compared to men.

    According to a study, 29% of women believe that their gender will be an obstacle to advancement. To overcome this issue, it’s important to prioritize a Women’s Leadership Development Program. Organizations that commit the personnel, time, and resources to implement female-specific leadership development programs have also adopted more innovative management practices and more frequently outperformed their competitors.

    Fostering Gender Diversity Through Executive Recruitment

    As employers, we have the power to make a difference when it comes to promoting a more gender-inclusive workplace, but it requires a practical approach to invoke change. One such approach is improving your recruiting practices to ensure an equal chance for all and diversity in your executive board. Therefore, it’s critical to invest in a qualified executive search consultancy that can help enhance your hiring policies and build a positive culture to attract more diverse leadership candidates.

    Our executive search consultants are committed to finding the best fit for your organization. We dig deep into our talent pools and vast networks to recruit the ideal candidate for your leadership position. Connect with one of our experts today to learn how EFL Associates and our talent management solutions can help solve your organization’s specific employment challenges

    The Future is Female—Why Women Need to Be in Executive Roleshttps://www.cbiz.com/Portals/0/Images/GettyImages-1370858723-1.jpg?ver=Cl3jmXrriio3A74icCxTtQ%3d%3dhttps://www.cbiz.com/Portals/0/Images/GettyImages-1370858723.jpg?ver=wBiCCV2ynTSisHMDQRjv_g%3d%3dThere's no question that women in leadership have a positive impact on the workplace; benefits include improved productivity, enhanced collaboration and decreased employee burnout. While we’ve made substantial strides toward creating more gender-inclusive work environments, many organizations still don’t view gender diversity as a priority because they don’t see how it could benefit their bottom line.2023-02-27T18:00:00-05:00There's no question that women in leadership have a positive impact on the workplace; benefits include improved productivity, enhanced collaboration and decreased employee burnout. While we’ve made substantial strides toward creating more gender-inclusive work environments, many organizations still don’t view gender diversity as a priority because they don’t see how it could benefit their bottom line.

    Employee ManagementBusiness & Management ConsultingEmployee BenefitsEmployee WellbeingTalent Acquisition/RecruitmentYes