The Importance of Keeping Women in Leadership

Although women's representation in the workforce is increasing, companies are at risk of losing women in leadership. Women in management positions are twice as likely to leave. At the same time, higher-level executives and C-suite managers are four times as likely to leave than their male counterparts. This is because senior-level women are held to higher standards and tend to have less support.

Women in leadership positions will also face harsh criticism and judgment. This gender bias ensures that executives will hire and promote candidates similar to themselves instead of more qualified women. In the COVID-19 pandemic, challenges including sexist biases, childcare responsibilities, and burnout increase disproportionately for women.

Why Are Women Leaving Leadership Positions?

In the era of COVID-19, the McKinsey Women in the Workplace Study found that senior-level women are 1.5 times more likely to think about downshifting or leaving the workforce. Although the pressure to work increases during a pandemic, women are still going because of:

·     Lack of flexibility

·     Need to always be on

·     Housework and caregiving responsibilities

·     Worry that performance is being negatively judged

·     Discomfort sharing worries with managers 

Some of these concerns are caused by companies not adjusting their performance review criteria to account for the pandemic. This makes it harder for employees to meet expectations or have to overexert themselves to keep up. Besides, women in leadership positions are usually isolated with fewer role models. Biases in the workforce also contribute to this stress as women are asked to defend their points more thoroughly than their male counterparts.If these trends continue to exist, there will be fewer women in leadership and fewer future leaders.

Importance of Women in Leadership

For any company, more diverse workforces lead to better performance. A study of over 800 business units found that companies with diverse and engaged employees have a 46% increase in revenue. Women bring unique skills, perspectives, and structural differences that provide access to a broader array of knowledge and industry insights. For example, the women in the tech industry offer valuable insights, but are underrepresented and often subject to a hiring bias (more information). A more diverse workforce also leads to a more varied customer base.

Also, women are more likely to promote a company culture that supports diversity in the workforce. Female managers are more likely to help other women in their field, which will enable their companies to attract and retain talented women. This progress in gender equality is essential for businesses to succeed. Additionally, women in leadership are more likely to be emotionally aware, develop relationships with their employees, and ask for feedback. Supporting women in leadership is essential for employees, companies, and the population as a whole.

How to Keep Women in Leadership

Keeping women in leadership is essential, but how exactly can we do this? Companies can start by addressing problems brought on by COVID-19, which disproportionately affect their female employees. Being more flexible and helpful towards employees is a necessity during a pandemic.  

Besides, it is essential to make operational changes to be more inclusive and rewarding for women. To minimize gender bias, address systemic issues such as development opportunities and promoting a work-life balance. Make gender diversity a priority on your team by organizing workshops and using hiring strategies that increase diversity while still hiring qualified employees.

At Advantis Global, we are proud to be building a team that is committed to workplace diversity. We believe in the importance of keeping women in leadership, which can be seen in our diverse and qualified team. If you are looking to work with a team that is over 80% women, join Advantis Global today!