There is no mistaking that diversity equals strength in skills, which is why having a diverse group of genders operating within a company makes perfect business sense. According to research conducted by Company Rescue, having women on the boards of UK SME companies, results in less risk of insolvency. This is supported by research from Harvard Business Review, which found that having a female member on a board lowers the risk of an over confident male CEO making costly mistakes such as those that lead to financial troubles.
Not so long ago, female representation in boardrooms was not the norm, the stereotype being that women stayed at home, in the kitchen and raising children. Yet now, it seems, the tables are starting to slowly turn, as we are more accepting a more gender diverse room. Why is this? What has been realised now, that makes a woman so resourceful and valuable?
Female leaders possess the best of both worlds. Not only do they have vision and now, for many an education, but they have better soft skills that create balance within a working environment. The nurturing ‘motherly’ attributes most women have are often needed in the business world where the pressure is high and volatile. In a male-dominated culture, nature takes over and the fittest survive, whereas women offer a more sympathetic and equal approach.
Imagine a struggling company the uncertainty and fear are palpable, a woman would exhaust all possible scenarios, viewing the bigger picture, before throwing in the proverbial towel and making rash decisions. Perhaps, she would first seek insolvency counsel from a professional insolvency service provider such as Company Rescue, in order to find the best possible solution to a crisis. It is often the case that women are more likely to seek advice on all manner of things, so it stands to reason they will also seek help on difficult problems in business. Men generally don’t like admitting they are going down the wrong path.
It has been shown that a company board that includes female executives are more balanced, creative, reactive, and respected. Women can bring a different (and often more rational) perspective to the table that benefits problem-solving skills on a larger scale.
Women are known to be better networkers and approachable social beings, whereas their male counterparts can struggle with apathy and communication. The ability to multi-task both home and work life is a major advantage to working women all over the world.
Besides the economic benefit of having more female CEO’s in the world, collaboration, steadfastness, mentorship, and knowledgeable expertise all come to the table in any boardroom. This explains the recent spike in companies appointing women to leading roles in businesses.