The need for more women in leadership has never been greater. There is a never-ending supply of data supporting this claim. In the Fortune 500, women make up 6.4% of the executive ranks. Companies that have a higher number of women on their boards tend to perform better than those that don’t.
According to data from multiple studies, companies with a more diverse workforce are more profitable. This is true for senior leaders as well. Over the years, various initiatives have been launched to close the gender pay gap and increase the number of women in leadership roles. While progress has been made in recent years, there is still a long way to go before women are fully included in the executive ranks.
This article aims to provide a comprehensive overview of how women have the potential to transform the future of leadership.
Women Can Foster Better Listening Skills
Women are naturally capable of seeking harmony and balance in their personal lives and at work by developing strong listening skills. These skills can help them become the go-to people for their colleagues who need guidance. One of the most effective ways to enhance your listening skills is by becoming a mentor. This can help you expand your influence within the organization. A strong sense of trust can help you create a living example of yourself and receive recognition from senior leaders.
Women Inspire Other Women
Globally, the number of women in senior management positions increased in 2019 and 2020. The percentage of women in these positions remained the same in 2020. Although this development can be considered a positive sign, women entering the workforce still need to be inspired by the achievements of other women who are already leading the way in the field. This can help pave the way for more women to become leaders in the future.
Women Are Transformational
A study revealed that female leaders are more transformational than male leaders. They were more likely to exhibit contingent reward behavior. This proves that women are more capable of making changes in their organizations. They bring fresh perspectives and creative solutions.
Women Excel in Multiple Roles
In addition to excelling in their roles, women often wear multiple hats. They can juggle numerous responsibilities, such as being a stay-at-home mother and managing their careers. The necessary skills and resources to handle these challenges can help them make effective decisions.
Women Can Close the Pay Gap
Statistically, men are more likely to get promoted to higher-paying positions when they start their careers from scratch. To combat this, hiring more women in leadership roles can help close the pay gap. It can also help organizations achieve their goals and improve the quality of their work.