In this fast-evolving world, where COVID is rampant, climate change threatens mass extinction and political relations are tense, having more women at C-suite positions or as Heads of state might rank lower on the priority list.
But what if I told you that having women in leadership positions could help solve all of these issues?
We all acknowledge that gender equality is important to building a stronger society, but how will this actually help, in real world situations?
Before you argue that women in leadership is only important for “diversity” or becoming more “inclusive”, let’s shift the perspective from what society can do for women, to what women can contribute to society.
First of all, diversity offers a fresh new perspective, and sparks innovation, both inside and outside of the workplace. A Harvard Business School conducted study found that in the male-dominated venture capital industry, “the more similar the investment partners, the lower their investments’ performance.” Firms that increased their proportion of female partner hires by 10% saw that, on average, a 1.5% spike in overall fund returns annually, and 9.7% more profitable exits.
Women who are on the Board of Directors
Women have a unique skill set that enables them to do business just as well as men, with certain traits such as determination, attention to detail or the ability to reach compromises proving especially beneficial in the workplace. By having more diversity in the office, this directly translates to possessing a wider range of skills, having different perspectives and enabling others to become more empathetic to those who have had life experiences unlike our own, resulting in a more innovative and inventive workplace.
Rep Alexandria Ocasio-Cortez, also known as AOC, at a rally.
The times have changed, and things such as physical strength are no longer as important in the current job market, meaning that women could and should have the same opportunities as men, in a level playing field. However, this isn’t the case as of now. Despite the rise of women in leadership positions, only 5% of Fortune 500 companies have a women as their CEO. Only 12.5% of Chief Finance Officers in Fortune 500 companies are women, and only 15% of professionals in engineering are women.
Why is this the case? We already know that it isn’t because of a lack of skill: women possess a skill set just as important, if not more important to those of men. It’s not because of lack of education: women earn more than 59% of all Master’s degrees. The most obvious conclusion would be societal stigmas, and company hiring policies which favour men over women. There is a glass ceiling, for women who want to reach C-suite positions, or become political candidates. Outdated beliefs, policies that discriminate and a refusal to adapt to the ever-changing climate make it extremely difficult for women to reach higher ranking positions in the government, or in a company. This results in a lack of role models for those who are just starting out, which would be extremely discouraging. The vicious cycle continues.
Supreme Court Justice Ruth Bader Ginsburg, a well-known champion for women's rights
It’s not too late to change.
In 2018, we made groundbreaking progress in terms of electing women to the US government, both in local and statewide offices, as well as in the Senate and House of Representatives. 102 women were elected to the House, and 13 were elected to the Senate. 36 were first-time representatives, and 3 were first-time senators. The number of POC women elected to Congress reached a historic peak of 43, of which at least three identified as LGBTQ+.
As more and more women make headlines, with strong and empowered women becoming a force for change, we can finally turn the tables, and enable women to start at a level playing field to men. Ruth Bader Ginsburg, Alexandria Ocasio-Cortez, Greta Thunberg and Kamala Harris are notable names who are inspiring others with their work. Today’s girls are having more and more women role models to look up to, and in turn are finally able to see the potential and possibilities in themselves. We are on the cusp of a new generation, where men and women can truly be seen as equals.
It is finally our time.