Analysis of a 2004 study titled, "The Bottom Line: Connecting Corporate Performances and Gender Diversity" found that corporations in which large numbers of women are top managers are also the companies that show the best financial performances. Increased profitability and greater total return to shareholders may be incentive for other companies to more effectively manage gender diversity and appoint more female representatives to their executive teams. However, to get there, some companies need to take certain steps.
Step 1
Encourage male and female coworkers to communicate with one another. With more women in the work force, men must recognize that women like to talk out their ideas and problems. If a woman comes to a male colleague to discuss a problem, she probably just needs someone to listen, not someone to solve her problem. Likewise, a woman should not take it personally when a male colleague openly vents his frustrations and anger. Although this loss of control may be inappropriate in the workplace, anger is a common male reaction to stress. Universal gender differences are as common in the workplace as individual differences.
Step 2
Find a middle ground. Men and women differ in how they communicate; therefore, a company can benefit by encouraging employees of both genders to recognize their differences and appreciate each other for the mixed strategies they can bring to the company. One example is the value of women's intuition. Louann Brizendine, author of the book "The Female Brain," makes the point that women are gifted at sensing the thoughts and intentions of others. Intuition often plays a key role in good decision making.
Step 3
Ensure that women are not left out of management opportunities because they have taken time off from their careers to raise a family. Although companies often promote individuals who are in their late 20's to mid 30's into management positions, opportunities for earning a higher income and attaining a management position should be open to individuals at later ages. "Women Matter," a study conducted by McKinsey and Company found that professionals tend to become more proactive about their career paths at around age 30. However, it appears that the higher women climb up the corporate ladder, the fewer children they have. About half of women earning more than $100,000 are childless. The same is not true for men.
Step 4
Discourage the "good old boys club" mentality, one of the largest barriers for women in many companies. A woman can find it difficult to move upward in a company if her family values are at odds with those of males competing for the same position.
Step 5
Rate individual achievement within the company. According to research conducted at Stanford Graduate School of Business, those companies that employ the highest numbers of women are larger, growing more rapidly and have formal employment policies in place. The study shows that companies that place high value on individual achievement rather than how well an employee fits in with the company's culture or their peers have more women on the payroll.
Step 6
Change company policies or organizational structure as needed. The key for successful gender diversity within a company is the willingness to make changes. This strategy becomes more essential when there is not a good representation of women in a company or if the women in a company are not excelling.
Step 7
Mentor others working for the company or organization. Women who hold management and executive positions at a company can encourage other women and help to create a more gender diverse culture within the organization by offering support, advice and direction.
References
- Catalyst: The Bottom Line: Connecting Corporate Performance and Gender Diversity
- The Way Ahead: Managing Gender Diversity: Five Secrets for a Manager's Toolkit
- McKinsey and Company: Women Matter: Gender Diversity, a Corporate Performance Driver
- Stanford Graduate School of Business: Founders' Values Help Shape Gender Mix in High-Tech
- University of Florida: Diversity in the Workplace: Benefits, Challenges and the Required Managerial Tools
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