In this atmosphere and season of women and their impact on society, gender parity significantly impacts the success of enterprises. The gender gap indeed leaves a lot of money on the table.
Narrowing this gap in my organization has actually had a positive impact. I have been able to make better business decisions which result in money multiplying hence higher profits. Of course, most enterprises really want the same for their businesses. Still, the question is-how is gender balance achieved to maximize profits?
Reaping benefits from gender equality is not a walk in the park. It starts with the top management in the business.
The very first step an enterprise should take is recognizing gender inequality. For example, women working longer hours than men but being paid less is already an alarm of gender inequality. It is simply the imbalance of power between men and women.
Evidently, most businesses do not reflect gender diversity in their culture and policies. This dramatically affects employee job satisfaction and the amount of time both men and women would want to be in the enterprise. As a result, a business starts experiencing stunted growth that hinders development. Gender balance is therefore supposed to be the main objective in terms of business goals for it to have a significant impact.
Team composition has always been a critical factor in my organization, especially when influencing performance. A diverse workforce automatically increases productivity, profitability, and competitiveness. As a leader, you will tap into a wider talent pool with different skills. This, in turn, attracts like-minded companies to do business together and invest in the same. Capturing new markets thereby becomes very easy, thus creating room for expansion.
Having a gender balance in your enterprise means benefiting from different viewpoints and approaches from different life experiences. So many dimensions in opinions and perspectives fuel innovations and creativity, making it very easy for an enterprise to identify and seize new opportunities. It also leads to a more holistic approach and, therefore, higher achievement. On top of it, all employees will feel respected and valued, which creates a positive environment in the workplace for everyone.