Why Women Work at Work

According to data from the World Bank female employment in India dropped from 26% to 19% between 2010 and 2020. In 2022, female employment has plummeted to just 9%. News agency, Bloomberg, reported that if these jobs are not restored, it would lead to trillions of dollars being shaved off global economic growth. India has the potential to add $700 billion to global GDP by increasing women’s participation in the labor force.?

Not only do women have the potential to increase company profits, but they are also instrumental in improving workplace culture. Here are three major reasons why women work at work and why companies need to invest in them.??

Company profits increase by 50% when women lead: McKinsey & Company, 2021?

Having women in the highest corporate offices is directly correlated to increased profits. In such a case, the deterioration of female participation in the workforce is something that companies simply can’t afford. During times of an economic crisis, in which women’s workforce participation is at risk of falling even further, the best thing companies can do is get more women in leadership positions and support and encourage those who are rising up the corporate ladder.??

Women managers are more likely to support employees?

Women leaders go above and beyond the call of duty to support people on their teams. This includes checking in on their teams’ overall well-being, helping them navigate work-life challenges, ensuring that workloads are manageable and take preventative action against burnout. Employees with female managers are more likely to say that their manager has supported and helped them. When managers support and genuinely care about well-being, employees are happier, less burned out, and less likely to leave their jobs.??

Women employees are champions of DEI?

DEI is a very real expectation that companies need to meet and women are champions at it. Women employees and managers have a positive and meaningful impact on a company’s DEI culture and quotient. A study by McKinsey shows that 50% of senior-level women consistently take a public stand for gender and racial equity at work, compared to 40% of senior-level men. Women leaders are also more likely to mentor and sponsor other women. If female talent is not encouraged and there is a paucity in women leaders at the workplace, the greatest loss would be to women, and in turn organizations.??

How organizations can help?

Companies need to make deliberate efforts to promote female talent at the workplace. Women need to have the right set of skills and tools to navigate corporate challenges, decode mindsets and future-proof themselves. L&D leaders need to invest in programs that can retain women in the middle rung of the ladder and ensure they grow into successful leaders of tomorrow.??

If you’re an L&D leader looking for a program for your women talent, speak to an expert now.??