Showing posts with label women. Show all posts
Showing posts with label women. Show all posts

Wednesday, May 6, 2015

Are Women Better Managers Than Men?

According to a Gallup survey published late last year, women in management positions in the U.S. tend to outscore men when it comes to employee engagement—which is a key predictor of productivity, job satisfaction, and employee loyalty. The polling organization concluded that American firms would benefit from promoting more women to positions of authority. This result suggests that not only is the advancement of women important from a social justice perspective; it is also a prudent business decision.
 
Of course, some qualification is necessary here. The world is home to excellent, mediocre, and lacklustre managers of both sexes, and the survey’s findings indicate a trend rather than a universal absolute. The average levels of employee engagement detected by Gallup are also disconcertingly low overall—from 25 to 35 percent. Nonetheless, the scores for female managers are superior across the board.

At least two questions spring to mind in response to the study: why do female managers tend to engage their employees more effectively than male managers? And what are some of the common traits that make female managers more successful, on average, than their male counterparts?

Gallup’s elements of great managing.

Gallup’s evaluation of employee engagement, and the questions it posed in its survey, are based on 12 elements of managing, all of which reflect aspects of employee engagement and productivity. Engaged employees are likelier to feel that they have a clear mission and the resources they need to do their job well; that managers take their opinions and ideas into consideration; that they have opportunities for career development and advancement within the organization; that their colleagues and superiors care about them and are invested in their success; and that they receive regular feedback and encouragement. Less-engaged employees may believe their work is not especially important or not valued by the organization; that they have no real avenue to growth and progress (i.e. that they are in a dead-end job); or that their managers and co-workers don’t care about them, either personally or professionally.

The survey indicates that female managers check in more often on the individual members of their team, provide greater feedback and positive reinforcement, and are likelier than male managers to praise good work.

The downside of manliness.

 The gender binary—that contrived line of demarcation that distinguishes “male” qualities from “female” qualities—informs the individual identity of most people in our culture, along with our social interactions, and our perceptions of each other. In childhood and adolescence, a lot of boys and young men are encouraged to adopt personality traits traditionally associated with masculinity: toughness, strength, dispassion, tolerance for pain and discomfort, independence, and an aversion to betraying any sign of vulnerability. (This is why so many men are reluctant to ask for directions when we are lost: because it would require us to acknowledge that we have a problem we can’t solve on our own.)

These stereotypically “manly” traits are not always useful in a modern office environment. To engage employees requires emotional tact and intelligence, and excellent communication and social skills. On average, women tend to have the upper hand in those departments.

Improving engagement.

Nearly all managers can bring about improvements in employee morale by attending to the core areas of engagement and job satisfaction. The advantages of better engagement include enhanced productivity, and improved chances of retaining highly skilled and desirable workers. The Gallup survey’s implications are clear: if employee engagement is one of your organizational priorities, you’ll improve your chances of achieving it by promoting more women to management positions.

Thursday, May 2, 2013

Gender Diversity is Important for Your Corporate Board


Ideally, the best corporate board for a given company would be one that is diverse. Hiring board members with the same background and education could find your company "stuck” and unable to draw from variety of experiences.

When it comes to gender diversity, a recent study supports the idea that women who are corporate board members tend to be more open to new ideas than their male cohorts. So, does this make women on corporate boards better than men?

And the survey says…

The International Journal of Business Governance and Ethics put up the survey that polled 624 board directors from all across the Canadian business sphere. The breakdown of those surveyed ranged from 75% male and 25% female. According to the results women were cited as being "more likely to use co-operation, collaboration and consensus building" when presented with the task of problem solving. Across the boardroom, the men were found to come up with their solutions by "using rules, regulations and traditional ways of doing business."

Chris Bart is a professor of strategic management at the DeGroote School of Business at McMaster University and a co-author of the study. Upon reviewing the results he concluded that "The way women operate as directors often contributed to a company’s success, raising the question of why women are still in the minority in Canada’s corporate boardrooms. Why would governance, nominating committees and board chairs not want to have that skill set, that competence available to them in abundance?” asked Bart.

Here are some other qualities found from the women board members who took part in the study:


  • Women were less constrained in their problem-solving skills
  • More likely to take into account the interest of a wider range of company stakeholders
  • Considered fairness an "important factor" in decision making process
  • Women are more inquisitive
  • Can see more possible outcomes to situation


As for the men who participated in the study, Bart found that, "The old boys club culture is still alive and well in corporate boardrooms across all sectors. Men are pack animals and they are very much quick to recognize the hierarchy of the alpha males in the group,” he said upon the report's release. “They would be very unhappy with people coming in with different values or views to the board.”

Can you look at your corporate board and say it is as diverse as it can be? It might be time to consider shaking things up especially if your business has hit a wall. Nothing like "fresh thinking" to put a company back on track on the road to success. 

Thursday, May 10, 2012

5 Great Female Entrepreneurs

Successful entrepreneurs come in all stripes. Each story is an inspiration for other small business owners who hope to reach those same pinnacles of success. For women who are involved in starting their own companies, there are certainly prominent role models to learn from. Here are 5 great women entrepreneurs who succeeded against all the odds.

Anita Roddick

As the founder of The Body Shop, Anita Roddick has turned a passion for environmentally safe cosmetics into a global phenomenon. Roddick created her first line up of products from ingredients she had in her home. There were only 15 products in her first shop and she needed to put part of the small restaurant and hotel she and her husband owned up as collateral. From that first store, The Body Shop now boasts 1,980 retail outlets with over 77 million customers around the globe. Using the success of The Body Shop as her platform, Anita has managed to become a leading social activist campaigning in support of human rights and the underprivileged around the world.

Mary Kay Ash

Sales were always a part of Mary Kay’s life. While her husband was serving overseas in WWII, Mary Kay sold books door-to-door and racked up an amazing $25,000 in sales in just six months. When her husband returned, they divorced and Mary Kay went on to work for Stanley Home Products becoming one of their top sales directors. Upon her retirement in 1963, Mary Kay decided to start a new business. She invested $5,000 of her life savings into a 500 square foot store in Dallas. This was the start of sales empire that has grown to over 350,000 beauty consultants all working under the Mary Kay Inc. banner generating over $1 billion in sales.

Oprah Winfrey

While it is true that Oprah hasn’t necessarily created a product or opened a retail store, she is still considered one of the most successful entrepreneurs of all time. Starting out as a local news reporter in Baltimore, Oprah went on to star in her own talk show. Over 18 seasons, Oprah won dozens of Emmys and had a viewership estimated at over 30 million. The success of that show allowed Oprah to form her own production company which in turn has lead to the creation of a monthly magazine and her own cable network.

Debra Fields

Imagine turning a family recipe into a fortune. That is exactly what Debra Fields did when she created Mrs. Fields cookies. At the young age of 20, Debra convinced a bank to lend her money to finance her business. The first Mrs. Fields opened in 1977 in Palo Alto, California. Flash ahead to the present and you’ll find there are over 600 Mrs. Fields franchise business with over 450 million in annual sales; all from cookies!



Estee Lauder

Yes, Estee Lauder is a real person whose brand now controls close to 45% of the cosmetics market in the United States alone. All of this began as Estee learned from her chemist uncle John the basic components of cosmetics. Her first line of cold cream was sold at a counter in Saks Fifth Avenue. Estee Lauder also sells products in 118 countries with $3.6 billion in sales.

Wednesday, March 17, 2010

The Challenges of Female MBA's

With few exceptions, the business world has never been a bed of roses for women. In a society that still views business primarily as a "man's world," women, despite their capabilities and qualifications, continue to fight an uphill battle for equality that is due them.

A recent study conducted by Catalyst, a non-profit organization for women in the workplace, compared 9,000 male and female MBAs entering the workforce over a ten year period. 46 percent of the males received entry-level positions while 60 percent of the women were hired at an entry level, despite the same level of professional experience for both gender groups. Likewise, the men earned $4,600 more at their first jobs.

One of the reasons given for the parities is not prejudice but practicality. Most companies hire employees with a long term plan in mind. It is anticipated that young women entering the workforce after college will have children within a certain period of time, thus disturbing the succession planning of the company. Thus, businesses prefer to invest more in men, anticipating longevity with the company. Women, themselves, admit that family commitments may disrupt their careers and, therefore, they tend not to lobby and pursue the top positions.

The point was driven home in another study conducted jointly by the Columbia Business School and the Women's Executive Circle of New York. The study went beyond entry levels and found that the disparities plague women throughout their careers. In examining women's roles at the 100 largest public corporations based in New York, less than 11 percent of the C-level positions were held by women.

Women are making strides in the business world but the progress is slow. Companies do want equality but this will only occur when the business world attunes itself to the needs of the cultural world, allowing the business world to benefit from the many qualified and experienced women available, while modifying to meet the needs of the women's lifestyles.

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Friday, March 12, 2010

More Capital for Women Entrepreneurs in Canada!

Let us not be fooled! In this era of civil rights and equality for all, women entrepreneurs are still fighting an uphill battle with the business community. For the last 18 years, a federally incorporated, non-profit organization known as "Women Entrepreneurs of Canada" has been dedicated to serving the interests of established women in business.

In Canada, 40% of all new start-up businesses are owned by women. Across the nation, Canada's top 100 companies account for 1.5 million jobs. In comparison, companies owned or led by women account for more than 1.7 million jobs. Furthermore, the number of women-owned start-ups is growing at twice the rate of those by men. The list of comparative statistics goes on but the point is crystal clear. Women entrepreneurs are major players in the Canadian business market. Yet, despite their numbers and influence, women in business still play second fiddle to their male counterparts.

This point is driven home quite clearly when women seek capital for development and growth of their businesses. One reason for the restrictions on capital available to women is the tendency of women to own and operate smaller businesses that are slower to grow and are considered higher risks such as retail and service.

Be that as it may, Women Entrepreneurs of Canada have called upon the Prime Minister to realize the plight of women in business and to address the needs of this substantial segment of the population accordingly. They recommend that the federal government develop an economic assistance program aimed at women owned small and medium sized businesses. Furthermore, they propose that the government develop support programs for women to provide access to technology and management training. This support should also finance and promote international women's trade missions.

Aside from government action, women entrepreneurs should form business alliances to share information and resources as well as establishing joint ventures to bid on large contracts. Women in the business world should share information as much as possible and use their contacts and knowledge to help others advance the cause of women entrepreneurs across Canada.

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Wednesday, March 3, 2010

Female Entrepreneurs - Unite!

No longer can it be said that business is a man's world. Female entrepreneurs are an integral part of the business world. According to a report from the Organization for Economic Cooperation and Development, Canadian women comprise 30% of business across the nation. This percentage is larger than any other country. In the United States, during a ten year period beginning in 1997, businesses owned by women grew at double the national rate of all U.S. private businesses.

So, the good news is that women are making their mark on business in substantial numbers. The bad news is that they are not using these numbers for any collective purpose or advantage.

There is power in numbers. However, most female entrepreneurs seem to prefer worrying only about themselves. An umbrella organization, Women Entrepreneurs of Canada, whose mandate is to create a more collaborative climate for women business owners, is fighting an uphill battle, as reported to a small core group of members at a recent meeting of the organization.

Rather than share ideas and efforts, the group reported that female business owners prefer to do for themselves and not share. Sharing resources and ideas is simply not the norm in female businesses, leading to duplication of efforts and a loss of a potentially powerful female lobby.

Men invest more time and energy developing their businesses. Thus, women cooperating with each other could greatly strengthen their businesses by uniting their efforts. Also, women are less confident than men in certain key business tasks and could certainly benefit by supporting each other to get over hurdles.

On the other hand, in a male dominated world, women still encounter certain prejudices in business. A strong female lobby could help push for changes in the business world that would lead to parity in general, while addressing the distinct needs of female entrepreneurship when applicable.

This organization, while small at present, is picking up speed and hopes to build a strong, influential coalition of female entrepreneurs to help the nearly one third of Canada's business community leadership.

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