Women in Business

I was speaking to someone from overseas the other day and he said he never thought he would see the day when Australia elected a female Prime Minister. His perception of Australia was that our culture was very ‘blokey’. So you would think that the appointment of Prime Minister Julia Gillard was the result of great change, an indication of how successful women have become in the workforce. Think again. In the recently published report by the Equal Opportunity for Women in the Workplace Agency (EOWA) it made clear that the number of female key executive managers and board directors in the ASX 200 has hardly changed over the past eight years. In comparison with New Zealand, the UK, Canada, the US and South Africa, Australia has the lowest percentage of women in the most senior positions.

So what exactly is going on?

What women want.

What are the benefits of having women in the workforce?

According to a report commissioned by McKinsey in 2009 companies with three or more women in top management out-performed companies with no women executives on every organisational and financial indicator. With increasingly diverse customer bases, those companies where women work alongside men in parity do a lot better than those dominated by men alone. Creative and talented individuals are more likely to be attracted to work in companies where they see greater potential for social change –businesses where women’s input and development is recognised and encouraged.

Businesses with an equal or large proportion of women tend to be friendly and encourage collaboration. The organisation is less combative in its approach and staff tend to be developed and nurtured.

How do we get women into the workforce?

To recruit more women and to be prepared to elevate them to positions of seniority according to their skills it is crucial to have a supportive senior executive. If they buy into the idea, the drive will be far more successful. And it’s not sufficient to have the token woman on the Board. Women need the support of other women in similar roles, to share their ideas and to start making a real difference. Women in particular value the opportunity to network.

What do you need to do to retain these women in your organisation?

Have a look at the values your business espouses. Are they clearly defined and clearly implemented? Women set great store by good ethics displayed within a company. Are you able to identify talent at an early stage and do you promote personal development and opportunities to realise potential? Do you offer flexibility and family-friendly policies to allow both women and family men to develop professionally? Do you reward the contributions made by women from the bottom to the top?

In America there is increasing evidence that women are starting their own businesses in an attempt to have control over their careers, to gain more freedom and flexibility, recognition and money.Think how successful your business could be if you could harness and retain this potential.

How Kool Results can help.

We have tried and tested policies to recruit and retain women. We can help you increase opportunities for women in leadership roles by showing you how to offer women high-profile assignments. We will work alongside you to educate your managers on the importance of advancing women who display potential. We will show you how women can be mentors to other women and how to allow the women who work for you to be themselves, not just to emulate men in order to succeed to the top job. Remember that power comes from sharing information with others, not from withholding it.

"The good news for women is that business now wants collaborative leadership, relationship skills, sharing of information, and win/win negotiation—skills that come easily to most women."

Nancy Clark, CEO of Womensmedia, Inc.

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Kool Results ... putting you firstPersonal & Business CoachingPhone: 08 8376 3492 Fax: 08 8376 3493 Mobile: 0438 017 873Email: fiona@koolresults.com.au Web: www.koolresults.com.au Blog: http://kool-results.blogspot.com

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