As a woman-owned business, we are especially proud to celebrate this month. Women’s History Month and International Women’s Day remind us of how lucky we are to be led by such a strong, entrepreneurial, intelligent woman, and to work alongside them everyday. As we admire our female colleagues, mentors, and role models, we have no doubt that the world could benefit from a few more female voices in the workforce. So for this month’s roundup, #teamexaqueo curated five articles on women in the workforce and on the progress that still needs to be made.
Our industry has begun to take greater stock in how we treat female leaders and staff, and challenge those who act inappropriately, but it's only a start, says Rauxa's founder.
March marks Women’s History Month. Amid the Time’s Up and #MeToo movements that are confronting sexual harassment and abuse in the workplace, this annual recognition of the vital role of women in American history feels more important than ever. Our industry has begun to take greater stock in how we treat female leaders and staff, and challenge those who act inappropriately and put our people at risk—via internal agency initiatives and industry groups like Diet Madison Avenue and The 3% Movement.
But what else can we be doing on the ground and in our offices?
How to advocate for yourself at critical points in your career.
More and more women are speaking up for gender equality at work—advocating for equal opportunities and compensation, as well as a workplace free of harassment. But while women are strongly and boldly asking for what their teams and colleagues need, many women are still reluctant to negotiate for themselves.
When negotiation contexts are clear and unambiguous, recent research reveals few gender differences in the likelihood of initiating a negotiation. For example, you would not expect men to be more likely than women to initiate a negotiation for a customer contract or a supplier agreement. However, when the appropriateness of negotiating is less clear—as is so often the case for negotiating promotion opportunities, visibility, and resources—gender differences do emerge.
"It is not that women rise when cultures are strong, but rather all people rise. This is why it is important to look at equality holistically,” says Ellyn Shook, Chief Leadership and Human Resources Officer, Accenture.
Accenture, the consulting firm, released the report titled, When She Rises, We All Rise, which summarizes key factors that contribute to creating cultures of equality at work. The findings are based on survey data of more than 22,000 working men and women across 34 countries.
“What this report looks at is characteristics that drive equality. Of course, women will benefit from a culture that is built around equality but men also gain an advantage.”
Eliminating gender inequality in the U.S. labor force is a key to unlocking higher and long-lasting economic growth, if only policy makers would take notice, according to economists Beth Ann Bovino and Jason Gold at S&P Global.
In a report released to commemorate the International Women’s Day on Thursday, Bovino and Gold say that if women entered and stayed in the workforce at the same pace as Norway, the U.S. economy would be $1.6 trillion larger than it is today and grow at a 3.1% clip.
Hiring women is smart business. According to research from McKinsey & Company, published in January 2018, gender diversity on executive teams is strongly correlated with profitability and value creation. The study also reveals that the executive teams of outperforming companies have more women in line roles (typically revenue generating) than in staff roles.
Yet, gender inequality continues to be a reality in the workplace, in politics, and in the entertainment industry. The World Economic Forum's Global Gender Report 2017, based on research conducted by LinkedIn, estimates that it will take 217 years to achieve gender parity. LinkedIn's Senior Director, Public Policy, Sue Duke states, "Our research found that women represent fewer than 50 percent of leaders in every industry analyzed -- and in some fields, such as energy and mining or manufacturing, the representation of women is far lower, with women holding fewer than 20 percent of leadership positions."