Women in Leadership: How can we flip the script?

Growing opportunities for women in leadership is a significant topic of discussion right now – and one that I am personally passionate about. My wish though is to see the conversation elevated.

Many people are talking about the goal of naming more women to leadership positions, but in the conversation about how, we often overlook the importance of articulating the why. Why does having women in leadership positions make a difference? And to elevate this critical conversation, we should ask: Why does having diverse voices – in gender, race, ethnicity, background and experience – help companies thrive?

There’s the central, crucial why: Providing equal opportunities for everyone to lead and succeed is the right thing to do. The importance of this fundamental truth can’t be overstated. But there are also business performance benefits to building a workforce that reflects the world around it.

Research has shown that companies with diverse, inclusive teams are typically more innovative in their approach and creative in their problem-solving. That makes sense, when we stop to think about it. A group of people with similar backgrounds, education and experience are likely to have a similar frame of reference or way of thinking. But when you bring together a group of people with different genders, backgrounds,  experiences, etc., each of those elements will inform their perspectives and their ideas.

Hephzi Pemberton, founder and CEO of Equality Group, recently shared an interesting perspective on inclusion in the workplace: “Businesses that fail to expand their perception of diversity beyond a ‘nice to have’ will be left behind. We are living in an increasingly more diverse and connected world, where people - whether investors, customers or employees - are looking for organizations that reflect the world they want to live in.”

We’re seeing this reflected in business performance. McKinsey’s recent “Delivering through Diversity” report found that companies in the top quartile for gender diversity on executive teams were 21 percent likelier to have above-average profitability than companies in the bottom quartile. That trend holds up for diversity across the board: Companies with ethnic and cultural diversity are 33 percent more likely to outperform on profitability.

The importance of the topic and the benefits are clear. But in all the chatter, it’s easy to fall into tactical shorthand of how and lose sight of the why. To drive meaningful change, we must remember the end goal – and the vision of where we’re trying to go. Keeping the why firmly in mind will help us get there, one leader at a time.