From fighting for their rights to vote, their freedom of speech and their right to earn, women all over the world have indeed come a long way in terms of gender equality. There was a time when women were either restricted to their homes or were assigned very gender specific roles. However, times have changed now as gender diversity is becoming more common in companies all over the world.
Here are some benefits of having gender diversity at workplace:
- A wider pool of talented, capable and dedicated workers
Talent does not choose gender and women can be as talented and capable as men. Unfortunately, many employers still stick by gender based stereotypes that give men more of an edge. Because of this many talented women are never given a chance to show their talent and true potential.
However, those companies that do hire more women and have a diverse workforce tend to have a more talented, capable and dedicated pool of workforce that add more creativity and innovation to your business.
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- Breaking the glass ceiling effect- Giving women a chance to lead
The term ‘Glass ceiling effect’ was coined somewhere in the 1980s and referred to the unfair practices at workplaces that snubbed women and stopped them from getting managerial and high ranked positions. While still commonly practiced, the glass ceiling effect stems from the beliefs that women, especially who have children and a family are incapable of being dedicated workers hence they could not be trusted with executive jobs. On the contrary, studies have shown time and again that women are not only capable of becoming leaders, in fact they are better managers than their male counterparts. A survey conducted by Gallup in 2015 revealed that women are better leaders than men as they focus more on team building, employee engagement and creating a positive work environment.
- Improved problem solving, innovation and creativity
When you have a diverse workforce, you have people with varying backgrounds, life experiences and perspectives. Different genders have different way of looking at things and solving problems. A diverse team of workers allows you explore different avenues and ideas making room for more creativity and innovation. Having different opinions, viewpoints and approach towards solving problems can have a very positive effect on any business.
A Harvard Business Review article highlighted how companies with ‘two-dimensional’ diversity out shined and performed way better than those companies with gender hierarchies. Companies with diverse workplace gender ratios tend to be more innovative and have a productive and creative team of workers.
- Good for companies’ reputation
Having a good reputation these days is very important for the success of any company. Many companies and brands that were once highly successful are now struggling because of their bad reputation. Nothing is transparent these days; if you have a positive gender workforce you will be appreciated and given credit for it.
The millennials, especially the females, give quite an importance to companies that have a diverse workforce. When you earn a reputation of having a diverse workplace culture, you will have a higher chance of recruiting more talented and capable employees as more and more people will reach out to you.
- Helps in creating a positive workplace culture
Money is not the only thing that employees look for in a job. In fact, for many employees, having a positive workplace culture is as important- if not more- than having a good salary. Gender inequality and mistreatment of women contributes to a toxic negative workplace culture. Because of this many talented and resourceful employees leave their jobs as they feel mistreated and disrespected. On the other hand, a workplace where people are given equal rights regardless of their gender has a better employee retention and a set of loyal and dedicated workers.
- Increase in profits and revenues
Gender diversity has a direct impact on the profit and revenue of a company. A research study by McKinsey has shown that companies with high gender diversity are 21% more likely to earn high profits than companies with a low gender diversity. Since a diverse workforce provides more innovation, creativity, productivity, it boosts the finances of the company by a large margin.
- Improved communication and collaboration
Effective communication is extremely important for building a strong team of dedicated workers. When working in collaboration, employees need to communicate with each other effectively. Women in general are believed to be better at communication than men. In fact studies have shown that women are more skilled at understanding verbal as well as nonverbal communication. They give more chances to others for sharing their ideas and in general are better listeners. A group of workers with both the genders involved is more likely to be more productive.
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An online communication tool such as Workspee gives the genders an equal chance to communicate and share their ideas. With the help of such a software you can ensure that your workers are being treated equally regardless of their gender.
- Better understanding of the customers
In order to appease your target audience you need to understand the psyche of your customers. You have to step in their shoes and see things from their perspective. To attract your audience you need to become more relatable and approachable. Since most of the shoppers are women, having women in your taskforce can help you understand what your customers need. Moreover, a diverse team of workers will offer different viewpoints that will help in understanding your customers better.
- It’s good for the economy
Last but not the least, gender diversity is for the economy. Countries that have a higher rate of gender diverse companies have a better economy in general. In another report by McKinsey it was concluded that gender equality at the workplace could add $28 trillion dollars to global GDP.
Gender equality still has a long way to go; many companies still undermine their female workplace and have poor gender diversity at their workplace. From gender pay gap to mistreatment at workplace, women in many parts of the world are still struggling to find their way. However considering the tremendous benefits of workplace gender diversity there has been an improvement in recent years and let’s hope it continues to grow.