Many industries and professions have long been dominated by males. Women have always been a strong component in the workforce, but have not always enjoyed the same opportunities for advancement as men. Now that this unhealthy trend is changing, there is a noteworthy side effect. Women rising to all different levels of leadership roles (including becoming small business owners) across a wide range of industries seems to have a strong positive effect on those businesses and their bottom lines.
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The Broader Picture
Female CEOs do not necessarily outperform their male counterparts and companies with the most women employees didn’t determine gains. However, having females and other less represented populations across all management levels, even with less female employees, makes a bigger difference in company performance.
Gender diversity in a business seems to be one of the most beneficial components to that business’s success. Per DiversityInc, the presence of females in leadership roles can help businesses take advantage of all available information and innovative ideas from all perspectives. Companies that discriminate and shut out women from management positions lose out on ideas and business plans that their opponents will capitalize on.
Communication and Collaboration
Reports have also determined that female executives tend to reach out and be more collaborative with company decisions. Women may also bring a different outlook on the specific market that their company serves. Both of these factors can contribute greatly to the company’s success.
Women are also becoming more likely to use technology to launch innovative new products or services with their customer base in mind. As The New Republic explains, greatly improving customer satisfaction and garnering future customer loyalty nets greater business gains for these forward-thinking companies.
Women have been taking full advantage of higher education to an even larger extent than men during the past years. They are using this leverage along with a more level playing field to start their own successful small businesses and growing them exponentially. They often play multiple roles to run these businesses. They are not only the CEO, but head of marketing and sales as well. It’s no wonder corporations are tapping into that vast talent pool.
For women who aspire towards their own businesses, the time is ripe — especially for those who feel they have hit the glass ceiling. Entrepreneurialism is an amazing way to breathe new life into your career. Maybe you have a skill or service you’re ready to freelance, or it’s time to turn your hobby into a moneymaker. Whether you’re a financial wizard or the queen of organizing talent, going out on your own might be the solution you seek. And these days, much of the foundation-building is eased through internet services.
Take registering your business, for example. It’s a simple undertaking when done through an online service. Similarly, a website builder facilitates creating a professional-looking website, and apps like Loomly and Sprout Social make social media marketing quick and convenient.
The key is to begin properly, and that starts with structuring your business. Many entrepreneurs prefer an LLC (limited liability company) for the protection it provides, plus it can grow with your company. Moreover, you can register it simply and affordably by going through an online service. With your structure decided, you’ll be ready to develop a budget and business plan — two other essentials for a solid foundation.
A company that only employs men in executive positions is a dying trend. They will continue to be outdone by other businesses willing to give women a voice in the decision-making processes by diversifying their workforce. Men and women working together in management and executive positions to utilize each of their unique skill sets will always give a company the advantage in the business world. Gender diversity is a continually growing trend and will continue to prove the worth of female leadership.