Women in Leadership Positions

A note by Paula Wilson , Senior Director of Governance, Leadership and Business Risk Advisory at Vmarsh Healthcare

?As the annual Women’s History Month activities wind down, it seems like a good time to take a moment to assess the state of women in the world.? Every year The World Economic Forum publishes its Global Gender Gap Index.? The Global Gender Gap Index is?a framework for capturing the magnitude and scope of gender-based disparities and tracking their progress.? The Index annually benchmarks the current state and evolution of gender parity between men and women across four key dimensions:

·????? Economic participation and opportunity

·????? Educational attainment

·????? Health and Survival

·????? Political Empowerment

?Experts at the World Economic Forum (WEF) analyze substantial amounts of data to develop the Gender Gap Index.? All of the analysis produces a number which represents the level of parity between men and women on each of the dimensions, by country and one final measure of parity for the world.? The 2023 Gender Gap Index reviewed the data for 146 countries and determined that the measure of parity for the world was 68.4%.? A score of 100% would mean that men and women are equal in all of the dimensions. The score of 68.4% tells us at a global level, women are more than a third less equal than men in the four dimensions.? Iceland ranked first on the index with Afghanistan ranked last.? All of which says that we have a lot of work to do.

Over the last forty years many laws have been passed in many countries to help reduce barriers to women excelling at work, school and in other spheres. Despite these gains, women lag still behind men when we look at salaries, promotions, and the number of women in C-Suite and other highly ranked positions. ?Women still face cultural stereotypes of how they should behave at work, what jobs are best for women and instances of outright sexism.? ?Women struggle more than men trying to balance the demands of a career and a family.?

Smart employers recognize that gender parity is a strategic imperative. Research consistently shows that diverse leadership teams produce better outcomes, enhanced innovation, and stronger financial performance.

Employers need to be committed to improving the status of women in their organizations and develop plans for measurable improvement. Organizations should consider implementing policies and practices to promote gender equity and eliminate bias in recruitment, promotion and compensation processes. Other activities include establishing mentorship programs, leadership development initiatives and cultivating an inclusive corporate culture.? Employers also need to promote parental leave and flexible work schedules to help women (and men) handle busy and complicated lives.

Women themselves need to get better at successfully maneuvering in the world of work. Too often, many women do not imagine themselves in the top senior jobs at their place of employment.? Women who want to be the boss need to take the steps necessary to make that happen.? It begins with being able to imagine yourself in a position of power and authority.? Studies indicate women tend to underestimate their value to their current or potential employer.

When people apply for a job it is important to have the skills needed to do a particular job.? But a job description is not carved in stone.? ?Research has shown an essential difference between men and women as they conduct a job search.? The findings indicate that men apply to job postings where they meet 65% of the qualifications listed; women apply only when they meet 95% of the qualifications.? Women can learn from men in this example by being more confident about their value when applying for jobs.

In a similar vein, women should cast a wide net when conducting a job search.?? Getting an interview for a job you are less interested in gives you get the opportunity to practice your pitch on why an employer should hire you in a less stressful situation. ?You may also discover the job you might have rejected has upsides that you were not aware of.? Or in the course of the interview, the employer realizes that you are a perfect match for another position you were not even aware of. ??????????????

Many women have success finding a new job or enhancing a career by using a coach.? Coaches can help people find a job and may also work with someone on an ongoing basis as they manage their career.

And while skills and abilities are a given, the value of a professional network is equally important.? For the time being at least, work and careers happen in the midst of groups of human beings.? Women need to cultivate a lifelong network of peers, bosses, and subordinates.? Employers who are hiring work with search firms and post jobs on LinkedIn.? But they also talk to their friends and colleagues to see if they know anyone suitable for a vacancy.? Anyone seeking to advance their career should try to meet new people, attend conferences, volunteer for new projects at work.? Opportunities can arise in many ways.

Improving the state of women in the workplace is a strategic imperative for fostering inclusive and high performing organizations.? Unlocking the full potential of women in an organization helps to create a more equitable and prosperous future for all.