Did you know, companies that decide to employ women are able to increase their productivity, adapt better to changes and have a more stable workforce?
According to UN Women, companies where three or more women hold senior executive roles benefit from higher performance in organizational effectiveness.
The participation of women in the workforce decreased from 51% in 2000 to 48% in 2019, globally; and in all countries, they face wage gaps, according to World Bank data. In addition, although women represent 40% of the global workforce, and many of them manage to have their own businesses, according to the International Labor Organization (ILO), 48% of their productive potential is not used, compared to the 22% of men.
Against this background, James Hernández, president and co-founder of Trust Corporate, and a consultant on financial, legal, and organizational issues, states: “It is time to advance in favor of gender equality, where both men and women are guaranteed equal access to work, with emphasis on recognizing women as agents of growth and sustainability in organizations.”
The consultant mentions below some of the top benefits of having women in companies.
7 benefits of having women in companies
- Increase in creativity and productivity: Having diverse work groups in which men and women coexist encourages creativity. Women are able to bring together people, group opinions, and proposals, which favors the creation of teams, encourages participation and enhances decision-making.
- Cooperativity and responsibility: Women are more skillful when it comes to delegating and organizing tasks. They are more responsible, they are more open to change and they work with a greater orientation to success.
- Building trust: Female leaders are perceived in work environments as more honest, understanding and ethical. This aspect is fundamental since leading with honesty affects the success of the entire company, based on the satisfaction of the work team.
- Multitasking: Most women can perform more than one task at a time and focus on the goal. This is why companies can train them to perform new functions or entrust them with a new position.
- Work environment: Women contribute to conflict resolution thanks to the fact that they are often more empathetic and are more willing to communicate and receive feedback. This helps generate a better work environment in companies.
- Higher education than men: Young women of the Millennial generation have a higher level of studies at the time of starting their professional career, which guarantees growth and contribution of knowledge to companies.
- Better performance: According to an ILO report, incorporating women into management positions can result in an improvement of up to 20% in business profitability, in addition to accelerating innovation and attracting talented professionals. The study found that of 13,000 businesses, 60% benefited from the work of women in managerial positions in terms of earnings, as well as creativity and reputation.
According to UN Women, studies carried out in OECD countries and in some non-member countries show that increased participation of women in the labor force triggers faster economic growth. However, globally, the gender pay gap is 16%, which means that women earn on average 84% of what men earn.
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“Although the role of women has been increasing in recent times, much remains to be done to achieve greater participation of women in the workplace. Incorporating women into a company, and promoting leadership positions for them, is a wise decision for organizations since there are many benefits obtained from having female talent in their workforce, for example, greater organizational performance and effectiveness,” concluded James Hernández, president and co-founder of Trust Corporate.