ContentsA Winter 2020 Study Examining the Effects of Women in Leadership Positions on Business Performance in Canada and the United States
2.1 History of Women in the Workplace. 6
2.2 How Women in The Leadership are improving business performance. 9
2.3 Cases of Women in Leadership Improving the Performance of Businesses. 16
3.0 Conclusion and Recommendations. 19
Executive summary
This study was conducted to examine the effect of women in leadership positions on business performances in Canada and the United States. The research includes analysis of the history of Canadian and American women in the workforce from being housekeepers and caretakers up to the position of leadership as directors and CEOs. Also, this research analyzed how women in Canada and America have been improving business performances. In this context, the study includes an analysis of cases where some influential women in Canada have been promoting business performances once they get in a position of leadership. Canada and America as the leading countries in ensuring gender diversity in the workforce. Women in the board of directors have become a significant prerequisite to improve business performances through their ability to attract and retain talented employees, among other factors that make women more demanding in business leadership (Noland, Moran & Kotschwar, 2016). More than half of the working population in Canada and America include women hence proving the need for women to be highly represented in the top business leaders. Despite working at the staff level, there are more women workers with more advanced academic degrees as compared to men. In regard, having more women with the required educational background proves the need to include females in business leadership to serve as role models to girls and other women (Epp & Iacovetta, 2016). This study used secondary data from relevant literature materials authored by Canadian and American scholars. The report was original work of the author, but some information was quoted directly hence involving in-text citation to indicate the source of information.
1.0 Introduction
1.1 Purpose
The purpose of this report is to determine the effects that female business leaders have exerted on their companies to answer the following question: is the increase of female leadership in the business world helping businesses thrive? And if it is helping businesses to thrive, why?
This is a research-based report to examine the increasing trend of females in leadership positions at businesses in the United States and Canada, as well as why and how this trend is affecting businesses. If it is found that this increasing trend is a factor in the success of companies, the report will strive to conclude how companies can encourage women to lead to contribute to improving business performance.
1.2 Background
There is a deeply integrated idea in society that men are the influencers of the business world. Although this may have been true some time ago, there is a flourishing development of women in business leadership, and men to women ratio are beginning to smooth. Gender inequality in business leadership is still prevalent; however, new research is bringing to light that females in leadership positions bring many benefits that include higher profitability and useful leadership styles, among other company’s benefits (McCallum, 2014).. Don't use plagiarised sources.Get your custom essay just from $11/page
Based on North American history, the societal role of a woman was to remain in the home as a housekeeper and a caretaker. Although the males’ ratio in the workforce persists to be higher than that of females, the gap has dramatically narrowed. In Canada in 2014, the labor force participation rate of women reached 82%, compared to a rate of 91% for men. This finding is quite significant when compared to the early 1950s when the rate of women in the workforce was greater than 70% less than that of men (Uppal &LaRochelle, 2014). The significant economic impact of such a trend may be rather evident; however, this report intends to explain how women in business have risen to positions of leadership and how women in leadership are affecting the performance of the companies for which they are employed.
Female leadership within businesses may result in several positive outcomes that go far beyond financial success. Substantial evidence proves that gender diversity at the leadership level enhances the company’s performance, and it is well established that diversity aids in making companies respected, innovative, and profitable. Additionally, having women leaders within a company reduces gender discrimination in retention, promotion, and recruitment, allowing companies to retain and acquire the most qualified employees. A significant female presence in a company has been shown to benefit the workplace environment and has also been associated with higher company status (Noland et al., 2016). When combined, all of these factors and more ultimately contribute to a higher likelihood of financial success.
Despite extensive research outlining the positive effects of women in business leadership, women still have to overcome several challenges in the workplace. From gender wage gaps to stereotyping and more, women continue to struggle with proving their competency at work more-so than their male colleagues. Although these issues have become decreasingly apparent throughout the years, they are ongoing. This report aims to shed light on research demonstrating that women possess the capabilities necessary to become powerful and influential leaders that significantly contribute to the innovation and success of businesses in hopes of re-shaping conventional and outdated views surrounding women in leadership.
1.3 Scope
This report will address several topics surrounding the effects of female leadership on the success of businesses in Canada and the United States. Firstly, the research will analyze the evolution of women in the workplace, from women being nonexistent in the workplace to their rise to positions of leadership and influence. The report will then examine the effects this has on Canadian businesses and the United States, including specific cases of women in a leadership position that has had a significant impact on the companies’ success for which they are own or employed. The analysis of these cases will include facts and figures to quantify the significance of any effects on the reader. The report will also explore and explain the reasons why businesses with female leaders tend to perform better than those without female leaders and aim to explain how companies can encourage females to enter positions of leadership.
1.4 Proposed Methodology
The information used in the construction of this report will be obtained solely from secondary sources. The secondary sources included will be collected from peer-reviewed scholarly journals, articles, web sources, and other credible sources to accurately depict the effect of women in leadership positions on businesses in Canada and North America.
2.0 Research and Analysis
2.1 History of Women in the Workplace
Women have a long history from nonexistent in the workplace to their rise to positions of leadership and influence. Despite numerous challenges and discrimination experiences in society, women are showing signs of prosperity in every sector of human development, particularly the business area (Orser & Riding, 2016). In recent years, women have been doing perfect work as compared to men, and therefore they cannot be ignored in the leadership position of the business.
At the beginning of women’s participation in workplaces, their labor was considered expendable and cheap. In Canada and America, women workers were usually considered less significant, and men were given priority in work due to the notion that men are superior in society. In the 19th and early 20th century, women were regarded as housekeepers and caretakers (Marks et al., 2016). More than half of the available work was characterized by worse treatment, poor working conditions, and little time to rest. More regrettably, women’s work was nasty and hard, thus, making them develop psychological stress. Women were treated as slaves in workplaces as some slept in the employer’s basement and attics. As the women continued to be enlightened, they became more attracted by offices positions, shops, and factories jobs even though they received less salaries than men undertaking the same roles.
The involvement of women in education paves the way for unattractive domestic work to do admirable jobs. With the growth of knowledge, women started participating in professional careers such as caregiving services, teaching, and nursing (McCallum, 2014). However, despite having training in such fields, women were to resign from their careers after marriage. The women’s resignations from work were fueled by the idea that women are supposed to take care of children and offer other services in the household.
In the late 1800s, women started to shift from domestic work to industrial work due to the introduction of clothing and textile industries. Even though more women moved to such industrial work, the working conditions were terrible, and also they still suffered from long working hours. In 1902, the poor treatment made women organize an industrial strike in “Toronto Carpet Factory.” The increase of a large number of women who participated in that industrial strike forced the councils in Canada to establish favorable working conditions through the legislation process. Canadian city councils made laws that promoted better pay for women and fair treatment (Epp & Iacovetta, 2016).
In the early 20th century, world war played a crucial role in the development of women in the workforce. Many people consider the first world war as the turning point of the women in the workforce. The women’s participation during World War I painted a clear picture of their powers by replacing men who were participating in the war. Women were returned to their domestic roles after the war ended. However, in the early 1920s, women leadership participation began after the freedom to vote was guaranteed to all, due to the emergence of the suffrage movement (Buckley & Jakub, 2017). The women’s involvement in workplaces improved after the market stock crashed, triggering Great Depression in 1929. Canadian women were considered as people protected by law as their support to war became inevitable. The war required women to actively assist in providing the products since men were unavailable to offer such services. When the world war ended, many women declined the call to step down for men, and they instead continued with their employment. After the contribution of women during the war, unions and government were forced to rethink women’s mandates despite creating social and cultural change (Buckley & Jakub, 2017).
In the 1950s, new opportunities for women were created by the need to deliver and advertise services and products in the market. Also, new women opportunities came from increased demand for education services, health, goods, production, and economic expansion (McCallum, 2014). Women shifted to such a field of work due to the desire to improve the living standard of their families. The number of women participating in workplaces is increasing every day in Canada. Statistics of 2014 show that more than 47% of the Canadian workforce is composed of women (Hughes, 2015). Consequently, Canadian women were being praised by men and organizations for their contributions to businesses. In 2017, Canadian prime minister Trudeau and US president, Dr. Trump, formed a council containing ten influential women leaders to address issues of women in the workforce (Usalcas & Kinack, 2017). The committee formed encourages women to enter into a leadership position without fear, and the Canadian government is also offering all support needed to see women excelling in business.
Employment rate by sex, 1946 to 2015
(Usalcas & Kinack 2017)
2.2 How Women in The Leadership are improving business performance
Canada and America require more women to rise in the position of leadership as directors and managers due to the excellent work they are doing to improve business performance in these two countries. Canadian and American women have proved to be great leaders through their innovation and contribution to assisting businesses’ growth (Sharafizad & Coetzer, 2016). The government of Canada has recognized that women are required to lead companies; therefore, this has instigated the prime minister to invest a large amount of money in promoting gender equality in the corporate world and workforce. The Canadian government promised to spend $105 million to encourage women-related businesses. The government also pledged to support women entrepreneurs by paying 1.4 billion dollars (Seijts, Clercy & Nguyen, 2018).
Women’s leadership improves business performance in various ways in both Canada and America. Most Canadian women are promoting business performances by bringing a high level of innovation in companies. Business strategy and design require innovative thinking and technology, a character that is possessed by many women in Canada. In 2011, the Canadian government noted that technology companies managed by women engaged in innovative activities more than technical businesses managed by men experts. The business reports showed that women experts concentrated more on product innovation after they were compared with other kinds of business innovation (Ko, Kotrba & Roebuck, 2015). Also, gender diversity has been bringing different experiences and talents in the board of directors hence, enhancing new ideas that promote innovation.
The company’s reputation depends heavily on the social responsibilities offered in the community. The research was done by “Harvard Business School” found that women on leadership contribute to better business performance since they attract customers through “corporate social responsibilities.” The research entitled “Gender and Corporate Social responsibility: it’s a matter of sustainability” revealed that women in the position of leadership are better practitioners of corporate social responsibility (CASE & LIFE, 2015). As such, the Harvard study proved that companies with more women in boardroom perform well in various areas, including financial performance. Gender diversity is the key to seek support from the society. Members of the community have much-criticized some companies due to the lack of women in the boardroom who can push for corporate social responsibility. For instance, Tyco, Worldcom, Enron, Lehman Brothers, and MF Global have been criticized for including a few women on the leadership (CASE & LIFE, 2015).
Business boards that reflect societal composition, by involving both women and men in the leadership, understand the preferences and needs of clients. Therefore, gender diversity in the board of directors enhances product improvement, effective product marketing, and better effective customer service. Consumer-facing companies include a higher number of women in management because the female perspective of women is crucial to the success of the business. The directors’ board, including more women, communicate better with shareholders and clients (Noland, Moran & Kotschwar, 2016). Understanding customers’ needs attract many consumers to the company hence improving business performance and results. In regard, this helps the business to enhance their client and shareholder’s understanding and insight, thus building strong relationships.
Marketing strategies are crucial for any company to establish itself in the global economy. In America, women have earned various awards in the marketing field by helping different businesses reach the global competitive market. Women are creative and innovative when it comes to marketing, as they have convincing power and unmatched skills when compared to men. More than fifty percent of American and Canadian business depends on women to market their product from local to a global level. For instance, Wendy Clark is a CEO who has helped “Omnicom’s DDB North America” to win various business accounts for leading brands such as; Persil, Miller Lite, and Time Warner Cable (McDonough & Egolf, 2015). Clark is also a former marketing veteran in the Coca-Cola company, where she established her name in the global market.
Women in business leadership help in achieving strong financial performance. Having women in the top business management contributes to outperform other competitive companies (CASE & LIFE, 2015). In Canada, women have been outperforming male CEOs on various financial measures that include; stock price growth, share performance, capital returns, sales returns, and equity returns. According to Hughes (2015), the extensive analysis found that a company with more women on the board registered more financial benefits as compared to businesses dominated by men on the board. The research found that women directors and CEOs outperformed their counterparts on sales returns and capital returns by 16% and 26%, respectively (Hughes, 2015). After such data, the study concluded by suggesting gender diversity in the company’s management is critical in bringing stability to the market cycle.
Women in the leadership position in Canada have been achieving a series of success in business due to their ability to retain talented employees and attract new customers. Canadian women proved to be aware of employees’ and customers’ contribution to the company. Women leadership incorporate both top management and staff during decision making. Also, customers are given chances to give their views by noting their needs in the suggestion box. Also, the level of employees and customers’ satisfaction is improved when they are involved in providing opinions or views. The employees’ turnover is minimal in companies managed by women compared to those predominated by men leaders. The satisfaction of an employee cannot be ignored since it affects the performance of the business. Therefore, the ability of Canadian women to ensure employee satisfaction results in performance improvement in several companies (Marmenout & Lirio, 2014). Therefore, to ensure staff retention, there must be employee satisfaction, which can be promoted efficiently by female leaders.
Female leaders also have skills to promote business growth as compared to men. The report of 2014 conducted by American Express in the United States showed that businesses owned by a female registered 72.3% growth while those predominated by male leaders recorded 41.5 % growth. The survey revealed that female leaders focus on business growth as compared to males. The rate of expansion mode on business owned by women was 32%, while the price of the expansion mode of business owned by the male was only 27%. (Leitch, Welter & Henry, 2018)
Business boards with more women tend to focus on how to make the company compete globally. Women never get satisfied with remaining on one point in business; therefore, they discuss ideas of taking the business forward. Canadian women have shown a high level of ambition, whereby they are still working to achieve more in the enterprise. Women entrepreneurs perceive that whatever they are contributing is not enough, while men maintain their ego that they are performing well even when they need some adjustment. The survey sponsored by Barclays Bank in the United States showed that only 42 % of women acknowledge that their business was prospering while 62% of male owners said that we’re experiencing success (Amar et al., 2017). Such data prove that women are capable of taking the business to a competitive world because they want to achieve more.
Women leaders are better in imparting knowledge to employees than male leaders. In Canada, most women leaders are more educated than men. Employees are always eager to learn from their leaders, and therefore women leaders play a critical role in delivering knowledge in the company. Female entrepreneurs tend to possess more education than men of which is essential in improving the business. The study conducted in Canada showed that 18% of women entrepreneurs had a master’s degree, while only 12% of male business owners had a master’s degree (Amar et al., 2017). The employees learn from managers and owners on strategies of improving the business; hence women are highly preferred.
Companies with more women in leadership maintain a better reputation for a long time. Cases of fraud rarely happen in companies that are dominated by women’s leadership. Women take their time to consider the potential effects of any action carried out in the company. For instance, women take financial risk only when they see it necessary for the company rather than individual interest. The study done recently in Canada through Barclay’s bank intervention showed that 87% of women business owners are risk-takers, while only 73% of men entrepreneurs were financial risk-takers (Puri, 2016). More women said that when taking a risk, they usually see opportunities while only a few men accepted to see opportunities in choosing a financial risk. In this context, it is evident that supporting many women in Canada to become directors and managers is a starting point of building the economy.
Leadership among women has improved the performance of most businesses in Canada through the well-paying of employees. Many employees working under women entrepreneurs are enjoying fair compensation for the services they offer in the enterprise. The annual payroll between 2007 and 2015 grew by 36.52% in businesses predominated by women as leaders (Bullough et al., 2017). The yearly payment of companies owned by men grew by only 16.54%. As a result, many employees in women dominated have been working tirelessly to appreciate the better pay from their leaders. Consequently, women directors have been keen on the closing gap of payment. Gender discrimination has been embarrassing many women employees by getting less salary than men even after performing a similar role. According to research done in Canada shows that women leaders in business are becoming the solution to this issue. The study showed that businesses owned by women paid the staff depending on their level of expertise. Therefore, equity in payment is increasing more attachment between the managers and employees hence improving the company’s performance.
Performance measures by gender in Canada
(Hughes, 2015)
2.21 Female Vs. Male Leadership styles
Women and men have distinct two styles of business leaders that they use to run the organization. Females use a transformation style of leadership in leading their teams. This style of leadership focuses on raising each other to a better level of motivation and morality (Arnold et al., 2015). The transformation leader makes the regular visit to the team in working places to offer encouragement and guidance. Women believe that leadership is more than accomplishing goals and include transforming team members into better individuals. Females use various tactics to lead their team members. First, they establish themselves as a role model to inspire the subordinate team. Second, women leaders care about personal development among the team members by investing enough time in coaching them. Lastly, women emphasize authentic communication and teamwork as crucial to success. Mary Barra is an example of an American woman who uses the transformational leadership style in leading her team because he encourages collaboration and cooperation in the “General Motors Company” (Stanisic, 2018).
Males favor the transactional style of leadership in managing the company. This leadership style entails strict expectations from leaders, and their decisions are unquestioned. The leaders who use the transactional leadership style give orders while they are sitting in the office. Leaders expect employees to provide progress updates of their work, and they never engage team members on an individual level. For instance, in Canada and America, male leaders rarely engage themselves with employees to motivate and encourage them to focus on work (Arnold et al., 2015). Also, male leaders only step into a situation to help employees when the condition becomes worse. Instead, men in the position of leadership engage with team members when accounting for mistakes and their failure to meet expectations.
2.3 Cases of Women in Leadership Improving the Performance of Businesses
The number of Canadian women leaders in business has been significantly increasing over the last few decades. With support from the government, many women have become the company’s CEOs, directors, and managers hence influencing many females to the position of leadership. The Canadian government has recognized that women leaders in business have a significant impact in driving the country’s economy forward. In 2017, Justin Trudeau, the Canadian prime minister, and President Trump formed Canada-united states council to focus on the development of women entrepreneurs (Hillmer & Lagassé, 2018). Trump and Trudeau promised to support women with anything they want to succeed in business. With the belief that women leaders are most influential in business performance, ten powerful women were included in the council to address the issues affecting women in business leadership. Trudeau and Trump said that they aimed to provide advice to more women so they can become influential leaders in business performance.
Females in a business position in Canada are celebrated every year for their leading role in business performances. The Canadian female business leaders have influenced both local citizens and also the global economy (Orser & Riding, 2016). The women directors and managers in Canada surpass men to receive the best business award every year. They manage business raging from firms dealing with construction production boutiques. Some of the leading female business CEOs improving performances of companies are as discussed below.
Wendy McClelland is a well-established chief executive officer in Canada, having achieved various awards for better management of businesses. She is the CEO and president of “Vet to Go,” the first Canadian veterinary service that offers home visits. Wendy created this company after encountering various difficulties in organizing the schedule of work that included her pets and children. After realizing that other women are likely to face such challenges, she planned to begin a startup in Calgary and later expanding to other surrounding cities. Wendy continued with entrepreneurial ambitions, and she opened a new Wellness Center and Private Surgery to offer more services (Kucinskas, 2018). Wendy said that for a woman to be successful in business must be focused and strict on time, including valuing activities, she is going to undertake in her leadership.
Noemie Dupuy is another woman who has influenced business performance in Canada. She is the Co-CEO and founder of “Budge Studios Finalist” an enterprise that offers services to more than one hundred million customers in the world. Dupuy’s business idea began in 2010 after the iPad was released in the global market. After she realized that the device was lacking vital contents necessary for her daughters and any other children, she decided to create a business app. Dupuy opened a “children’s app development company” known as Badge Studios, and now it offers services to customers across the globe. The business idea of Dupuy as a CEO proves that women’s leadership consists of a high level of innovation. Dupuy has been encouraging other women in the world to dream big since they have the potential to do anything they want in business once they get in the position of leadership (Orser, Elliott, & Cukier, 2019).
Lisa Jacuniak is another Canadian woman influencing business performances across the globe. She is a CEO and Co-Owner of “Paris Crane Inspection Finalist,” a company that deals with gas and oil. Lisa has been partnering with Richard, who is a brother in law, and she acknowledges that she has already found her talent in managing a business. Lisa had a background in finance and enterprise while her brother 25 years’ experience dealing with cranes. The ability of Lisa to recognize business opportunities in the gas and oil industry makes her one of the influential business leaders in the world. The record of success as a CEO proves that she is worth all respect in improving confidence and performance in businesses. Lisa’s business started with ten customers in 2009, and now she enjoys having more than 500 customers. Lisa encourages women all over the world to develop a plan and continue working on it to realize success (McDonough & Egolf, 2015).
In America, various women in the leadership position are also improving businesses. Mary Barra, the CEO and board chairman of “General Motors Company,” has been achieving a series of success in her leadership. In the direction of Barra, General Motors has envisioned the globe with zero-emission and crashes to ensure human lives are saved and also preparing a healthier planet for the future generation. Under the leadership of Barra, General Motors has managed to ensure zero congestion hence assisting customers in getting the precious product in time. Barra’s success comes from her strategic directions, whereby she incorporates customers in everything that happens in the company. Barra was a vice president in “Global Product Development” before becoming a CEO in General Motors. Barra was responsible for the quality, engineering, and design of General Motors’ vehicles. The leadership history of Barra is extensive as she served as a leader in various positions. Barra’s influence in leadership has attracted many companies in America, and she serves in the Directors’ Board of “Walt Disney Company” (Stanisic, 2018).
3.0 Conclusion and Recommendations
Business leadership consists of people with a range of skills, experience, and talents that drive better performance and results. However, including more women on the board of directors attract the best performance and results in any company. In America and Canada, women’s leadership improves business in several ways. Women leaders can attract and retain talented employees in the company. Women in the board of directors are skilled in identifying opportunities in advance, thus becoming a vital resource in bettering business performances (Amar et al., 2017). Women in leadership also help the company to enhance clients since they are talented in communicating with clients and other stakeholders. This leads to improved product marketing and active product development, including appropriate customer service. For instance, Mary Barra has included customers in everything happening in “General Motors Company” throughout her leadership as CEO (Stanisic, 2018).
Women in business leadership help in achieving strong financial performance. Having women in the top business management contributes to outperform other competitive companies. In America and Canada, women have been outperforming male CEOs on various financial measures that include; return on equity, return on sales, return on capital, share performance, and stock price growth (CASE & LIFE, 2015). Some of the CEOs in Canada who have proved that women in leadership improve business performances and results include Noemie Dupuy. She has attracted customers across the globe under her leadership in “Budge Studios Finalist.”
Women in the leadership position also help the company to achieve better business performance and result since they are talented to attract customers through corporate social responsibilities. The study conducted by “Harvard Business School” found that women are the best practitioners of social responsibilities in the company (CASE & LIFE, 2015). Members in the global and local communities appreciate social responsibilities by promoting the company’s products hence increasing business sales. Also, the company’s boards with more women report low cases of a security breach, such as business fraud. In regard, the company earns a better reputation in society hence attracting more clients who help in improving business performance and results.
Innovation among women leadership is another thing that is driving business performance and results in various companies. Gender diversity in the company’s board brings multiple experiences and perspectives, thus encouraging board members to consider a variety of ideas that improve business performance (Ko, Kotrba & Roebuck, 2015). Women leaders bring various ideas that force the company management to identify better innovative opportunities. Also, companies with gender diversity in leadership perform better in imparting knowledge to employees as compared to those with men alone. Women understand the needs of employees better than men; hence giving guidance to them becomes more manageable.
After reading the above discussion, women may seem to be in a better position in business leadership, but there is a long road to go to Canada and America. More women are needed in the corporate direction to serve as role models to girls and other women. Although the government in Canada and America have started to recognize the business capacity and potential of women when placed in a leadership position, there is still action plans needed. Therefore, the following are action plans recommended to encourage women’s rise to leadership positions.
The first action plan to ensure more women in the leadership position is by adopting formal policies to ensure board diversity. Board composition should have the face of gender diversity criterion to provide a representation of women in the boardroom (Lyness & Grotto, 2018). In regard, the company should have goals for women representation and assess its performance in achieving these targets. Such context includes refreshing the composition of the board of directors regularly to create opportunities for women recruitment. Seeking qualified women for every vacant on the board is also essential to ensure every position will have at least three talented candidates.
The second action plan to ensure women are included in the business leadership position is focusing on the competences of the candidate aspiring to be on the board of directors. Companies need to have expertise in the leadership position; therefore, the board of directors should asses the type of leader they need by targeting both men and women depending on skills required. Update and create skills matrices to identify competencies required and evaluate existing gaps in the current board of directors (Ko, Kotrba & Roebuck, 2015).
The third action plan to ensure business diversity in leadership is through recruiting board candidates from outside the company. Ensure to recruit talented candidates who have no social networks or links with the existing board of directors. The professional search firm is required to ensure the successful recruitment of capable CEO or other members of the company’s board. Clarify and to the professional firm that the company needs board candidates who meet all criteria concerning gender diversity. Use Canadian women who developed by established organizations such as the “Canadian Board Diversity Council” to get a leader who meets the board criteria. Additionally, ensure that the nominating committee is composed of both women and men to expand the network of the company (Puri, 2016).
The fourth action plan includes sponsoring of potential women to pave their way to the leadership position. Women need to be visible by potential sponsors to increase their chances of ascending to the area of a board director. Sponsoring women is a critical way of enhancing women’s visibility in business leadership (Rhode, 2017). However, there are measures that a sponsor must take, and they include nominating and introducing them for the opening of the business board. Also, a sponsor must champion women’s inclusion in the company’s leadership. Additionally, a sponsor should provide opportunities to high-performing women to enhance the skills required to become directors.
Lastly, companies should attract women in the business leadership position by focusing on succession. Canadian and American women’s labor force makes more than half of the talent pool. In the United States, 50.2 of the university-educated workforce is composed of women. They have outweighed men in earning university degrees, but they still hold less than 25% of the corporate leadership roles (Lyness & Grotto, 2018). Companies need to stop the old notion that women should only hold jobs such as support roles, Human resources, and communication roles. Therefore, to promote women in the leadership position requires the company to ensure gender diversity in every career since there are no specific jobs for women or men.
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