A definitive list if your company is ready to attract and hire more women for key positions
No. This is not an article on how to attract women for dating purposes. Although, if you need help in that area, I am available for consultations. Just kidding. No, this is a list to consider if your company is ready to attract and hire more women for key positions.
You arrived at this place because you have seen the value of women and you read my article on what Latinas can do for your business and why you should hire them. Although, no real, self-respecting company would need to be convinced that more women should be hired, I understand that for some data matters.
I’m an academic so I appreciate that some value the work of a researcher to help them make decisions. You’re in luck because in addition to my love for reading academic research that many people don’t like to read,
I just returned from the Global Leadership Summit which featured Sallie Krawcheck, Chair of Ellevate, a network of more than 34,000 professional women around the world and part of Bank of America’s Global Wealth and Investment Management team. My thoughts here are a combination of what I heard her share and a key research report The Case for Investing In Women.
Since it is a real possibility that you’ve had limited exposure on why you should hire women and you never did get around to reading my article, I’ve divided this article in two parts.
The Why and The How.
Why you should hire women and how you can attract them:
I. The Why
- When Fortune 500 companies had at least three female directors, several key factors increased: The return on invested capital jumped over 66%, return on sales went up 42%, and return on equity increased by 53%.
- Gallup found that companies with more diversity on staff have a 22% lower turnover rate, and if an organization has a more inclusive culture that embraces women, it’s easier to recruit a more diverse staff.
- Research has shown that mixed gender teams are more creative, produce more and led to more business relationships that all-male teams because women bring a relationship focus to business naturally while men have to work hard to reprogram their mind to focus on relationship.
- Studies in 17 different countries in all different industries found that across the board, having a larger number of women on a team accounts for greater psychological safety, team confidence, group experimentation, and team efficiency.
II. The How
These are four particularly important actions to note because “most” women choose jobs based on meaning and purpose versus status and money:
1. Offer truly flexible schedules. Many employers offer flexible schedules that turn out to be, well, not so flexible. Flexibility goes beyond letting someone work from 10 to 6 instead of 9 to 5: It requires allowing employees to adjust their schedules, without penalty, for whatever life throws at them—sick children, sick parents, school plays, whatever—as long as they are producing results. The benefit?
A workplace that focuses on performance, not hours at the desk, makes employees feel more valued and satisfied with their employer: 86% of companies on Fortune’s 100 Best Companies to Work for in 2014 offer some type of flexible schedule. I am in my current job because of this very reason!
Next- Attracting women numbers 2, 3 and 4