“I’m absolutely confident that for two years if every nation on earth was run by women, you would see a significant improvement across the board on just about everything… living standards and outcomes.” President Barack Obama.
Leadership is one’s ability to influence others to achieve common goals. The working landscape is changing, and the business world is no longer just a man’s game. In 2021, the proportion of women in senior management roles globally grew to 29%. The highest number ever recorded. For the first time in history, all S&P 500 firms have at least one female board member!
Over the past decades, scientific studies have consistently shown that on most of the key traits that make leaders more effective, women tend to outperform men. Women outperform men in educational settings, while men score higher than women on dark side personality traits, such as aggression, narcissism, psychopathy, and Machiavellianism, and destructive behaviours displayed by powerful men who derail:#metoo,the 2008 financial crisis, poor handling of the current pandemic, and white collar crime under the “greed is good” mantra (Peter Turchin).
In a study that examined gender and leadership styles, researchers found that, female leaders use more transformational leadership (inspiring, caring and encouraging) and also engage in more of the contingent reward behaviours.
Female leaders, bring a whole lot of different set of skills, imaginative perspectives, and, importantly, structural and cultural differences that drive effective solutions. Humility, Self-awareness, Self-control, Moral Sensitivity, Social Skills, Emotional Intelligence, Kindness, a prosocial and moral orientation, are all more likely to be found in women.
On average, women are more likely to lead democratically, how transformational leadership, be a role model, listen to others and develop their subordinates’ potential, and score higher on measures of leadership effectiveness.
Female leaders have a key measurable impact on an organisation’s bottom line. For every 10% increase in gender diversity, earnings before interest and taxes rose by a glaring 3.5%. (MCKinsey UK). There is a never-ending catalogue of data to support that the need for more female leaders has never been more critical than now.
At the time when Women CEOs make up 6.4% of the Fortune 500 list, Let us dive into the world of businesses outlining the need for the presence of women and mindset of why organisations cannot overlook the prospect of employing more women in leadership roles. 1. Female Leaders paint the future. They carve direction by breaking down barriers for young aspiring women entering the workforce, to increase the global percentage and break new records.
2. Female leaders are more transformational. More contingent reward behaviour than the two-dimensional actions (active and passive management) presented by male leadership has been demonstrated by Female Leaders.
3. Women demonstrate passion, enthusiasm and a capability to take command of a situation when need be. They are able to make bold and wise decisions as leaders; this helps make the team environment less authoritative and more cooperative, bringing a family-like feel to the team. This boosts teamwork across the organisation and helps implement a new culture within the business.
4. Women demonstrate superior leadership values. They are viewed as honest, compassionate, smart, outgoing and creative.
5. Women are good communicators. Female Leaders utilize this skill to enhance meaningful conversations, with employers, co -workers, and partners.
6. Female leaders achieve better financial outcome. They are comfortable with workplace gender diversity. Gender diversity helps increase productivity, fuels creativity, improves performance, staff retention, and, boosts collaboration throughout the business. In a workplace study, 21% of businesses are more likely to experience above-average profitability if the workforce is gender-diverse.
7. Female leaders contribute to new outlooks and perspectives, helping bring in innovation in the businesses.
8. Female leaders can provide good mentorship and empower bright young minds of the next generation.
9. They have the ability to wear multiple hats. In Woman’s life, wearing different hats within their roles is often a common occurrence. This trait helps Female leaders to quickly adjust to new situations and focus on finding solutions to real-life work issues.
10. According to the World Economic Forum’s Global Gender Gap Report, it will still be 170 years until women achieve economic parity on a global scale. More and More women in leadership roles can help achieve a wider goal and close the pay gap more effectively.
11. Female leaders don’t emphasize completion of tasks less and more on interpersonal relationships than their male counterparts do.
12. Female Leaders dream big. Women have an innate ability to dream big, and challenge assumptions. They know how to translate big ideas into concrete actions and results.
13. Female leaders handle crisis situations well.
14. Women Lead by example. They have climbed the ladder so they have experienced a variety of roles before they get to the leadership ones.
15. Women Leaders defy the odds and make the job seem effortless. Women are pragmatic, resilient and usually able to manoeuvre tricky situations with grace. Their perspectives are borne out of a mix of trial by fire and sheer fortitude. They look at the world with bravery and are able to piece together the world around them like a complex puzzle.
16. Research from the IFC and Foreign Policy reveals women are more likely to put a premium on sustainability, both in politics and in business. This is of critical importance given the climate crisis.
Women are great leaders, then why are there still less female leaders across all levels and in all fields? In one study conducted by the Lead Read Today, female leaders have tendency to underestimate their leadership abilities in many areas. Women may not always realize how poised for success they are in leadership roles, but their potential and abilities are undeniable. Organizations that don’t realize the importance of women in the workplace are missing out. Besides doubling the talent pool, more women also improve company’s performance. 2022 will be a year of tipping point for Female Leaders when “Think Leader, think lady” will be the only choice. Globally.
Khair Ull Nissa Sheikh
WTCA Board Member| Executive Director WTC Services
Founder & VP NAREDCO MAHI (NORTH & CENTRAL)