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Gender Equality in Philadelphia Business? Grow the Bottom Line!

While some may consider gender equality in business leadership a “women’s issue,” in fact it truly is a highly important strategic business topic that every company would do well to address!

While increasing women in leadership roles looks great for your company’s reputation among the public, it remains “mission imperative” if your company wants to sustain growth and profitability for the long-term.  In particular, the boardroom is where creative initiatives and vision planning begins.  Having gender equality in the vision and strategic planning process can only heighten the effectiveness of the direction your business takes, and the profit it creates over the coming years.

Not only this, but with a diverse work force, representation of both genders in leadership “speaks” to the aspirations and motivation of the younger, growth-minded staff who need to be inspired and believe in the growth potential for their own careers within the company.  If they see little to no women in the higher leadership then your turnover rate just might increase due to discouragement and the impression that there is a low and secure company glass ceiling for women.

Heidrick & Struggles’ study on boardroom gender equality tells us progress is being made.  This annual study supports Watermark study (UC Davis) which indicates public pressure is causing the Fortune 500 to begin to respond to increasing women on boards.  In order for the Fortune 1000 and smaller companies throughout the U.S. to increase the trend women leaders must keep this topic front and center in the way of public visibility and pressure.

According to the Watermark-UC Davis report, women in top positions has actually paled in statistics as opposed to the progress of women as board representation.  But it is women on the boards that must speak out about the balancing of genders throughout their organizations in leadership positions.

Further, the question remains as to whether those women who reach board positions are addressing all of the important questions that will support gender balance, including wage equality studies, and continuing plans to increase diversity of leadership through programs designed to develop women leaders from within, or a wider outreach for qualified women leaders to bring into the company.

Women who sit on public boards must be a stronger voice for this topic as a whole because it is good for business.

In Philadelphia the Forum of Executive Women is leading the charge as a powerful influence in the Greater Philadelphia region.  Now with over 400 members in the region, these women represent “top positions in every major segment of the community”

Understanding the ways in which women as leaders powerfully impact the growth and well-being of Philadelphia businesses (and businesses throughout the Nation), they provide many programs designed to increase gender balance, mentor, support and grow leadership among the women members who ultimately impact their companies and the community at large.

In an Eco-Business article entitled, “Businesses with Women in Leadership Roles do Better,

Helen Clark, administrator of the United Nations Development Programme states:

“Thus the economic case for women’s equal participation and decision-making in the private sector can certainly be made… Gender equality is not just the right thing to do, but also the smart, economic thing to do”

The article goes on to cite that of the 100 top European companies, thirty-eight have no women in executive management teams, and of the top 100 in Asia seventy-one; and this in the face of research proving companies with women leaders perform better.

If we are to make permanent mind-set changes companies must address issues and provide support to keep women in the workforce throughout the phases of their lives.  As we all learned in the movie with Diane Keaton back in the 80’s “Baby Boom,” women are powerful in business.  Women and men, and their families require a much broader view, in particular for the current generation who will not tolerate conditions the baby boom generation did.

Companies must increasingly address:

  • Flexible work arrangements
  • Family leave
  • Job assurance if leave of absence is required
  • A true understanding of the balance between home, personal and business life!

As Ms. Clark states,

 “There is mounting evidence that women’s equal participation in leadership positions benefits their families, societies, economies, and countries.

“We believe that efforts to support and advance women’s equal participation… must be prioritized, scaled up, coordinated, and made more visible. Change requires both female and male leadership within public administrations and beyond to champion this issue.”

Tell us what you think?  Philadelphia Limousine Service continues to promote Philadelphia Business Strategies by Experts, and is committed to the economic well-being of our Philadelphia Area.

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Gender Equality in Philadelphia Business? Grow the Bottom Line!

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