Today, only eight of the top U.S. chief executive officers are women, and though the U.K. is ahead with 20% women on the Financial Times Stock Exchange boards, the ratio of female leaders to male leaders is still markedly disproportionate.
But regardless of the dire numbers, women should aim for leadership positions. Why? New studies show that having more females on executive boards results in increased productivity, monetary growth, and greater innovation. Gender diversity is no longer a choice, but a necessity. As working women are often known for earning less than men for the same jobs, facing derogatory sexual harassment at work, and dealing with sexist remarks from co-workers and superiors, studies show that it’s time to end the discrimination and disrespect and, instead, encourage women to take the lead.
More Female Leaders, More Productivity
More women leaders results in better management, productivity, and healthier work environments. A study called Women Matter found that companies with at least three women on executive boards outperform others in leadership, direction, coordination, and implementing values. Women often embody the characteristics of great leadership, the study states, which is why having more female leaders also correlates with greater efficiency and output. In the same light, another study found that groups with more women have greater abiliies to effectively multitask and stay within company budgets. Female leaders are often the forces behind improved employee performance, too.
More Female Leaders, More Money
Because women leaders have the ability to create productive work environments, their presence on executive boards often results in better financial performance. A study called Gender diversity and corporate performance found that gender-diverse management teams have greater returns in average monetary growth. More women leaders means greater balance and, subsequently, stability, which is necessary for increasing sales and maximizing profit, the study says. Women Matter discovered the same results, and additionally found that companies with more female leaders directly correlates to demonstrated stock price growth.
More Female Leaders, More Innovation
That’s not all, though. Having more women leaders in executive boards also contributes to greater innovation. Innovative potential: men and women in teams by the Lehman Brothers Center for Women in Business shows that, after surveying 1,400 team members at 21 companies in 17 different countries, gender-balanced teams were more likely to take more risks and think outside of the box. Risk-taking, the study states, is directly connected to creativity and innovation. Furthermore, the most confident management teams were made up of 60% women, and greater confidence is attributed to increasing the likelihood of risks being taken. Thus, having more women leaders not only nurtures the well-being of companies but also moves them forward.
Though it’ll take time for women to finally make as much as men do, and for sexism in the workplace to completely disappear, it is evident that women have what it takes to be modern changemakers . With both men and women equally leading companies, the futures of those organisations embracing gender diversity practices are nothing but bright.