A recent report by Ivey Business School's Lawrence National Centre for Policy and Management. talks about women’s accomplishments, the difficulties they face in addition to adopted strategies they use for workplace equity in order to get success.

In the dynamic environment of global business, competitiveness, innovation, creativity and strategic thinking are repetitively influencing the ambit of this sector. At the heart of this environment, there is a deep understanding that diversity and inclusion extend beyond mere buzzwords.

In this contemporary world, organisations are now understanding that taking care of viewpoints, experiences and skills are equally important as other aspects in the business world. This shall serve as a strategy for the growth of the business to touch sky and beyond. 

Nowadays, women’s role in business has grown significantly. Women have historically been underrepresented but now a drastic change has been witnessed in the business world, where women are fearlessly moving forward to break all the barrier and expertise in several fields.

Ksenia Protasova, Chief Financial Officer, NOYTECH Supply Chain Solutions, says, “Women often face unconscious bias, stereotypes, and discrimination in the workplace, which can hinder their advancement into leadership roles. Addressing gender bias involves implementing diversity training, creating inclusive policies, and holding individuals and organizations accountable for promoting equality.”

She added, “The underrepresentation of women in leadership positions can make it challenging for aspiring female leaders to find role models and mentors. It is important to actively promote and support women in leadership, provide mentorship opportunities, and increase visibility to inspire future female leaders.”

Starting from boardroom to executive roles, women are exceling in corporate sector stamping their dominant skills to make sure that their presence is acknowledged. Their growth not only indicating towards a better workplace but also shows their endurance and determination for their dreams.

Women Thriving Plurally

Women in business are growing tremendously but at the same time, they have several challenges to face as well. Despite progress in the past few decades, women still face organizational hindrances particularly gender bias, income disparity and most of all, underrepresentation in leadership positions. Despite of such challenges, women have proven that they can serve as powerful leaders/entrepreneurs in any given industry sector.

As stated by many a research, organisations which possess higher gender diversity perform much effectively with regard to monetary expansion of the firm in addition to career contentment.

Studies also highlight the noteworthiness of women’s excellence in strategic decision making, generating innovation and nourishing a more welcoming environment internally. Additionally, research also reveals that those organisations which has diverse teams are steering complex situations in a far better way as compared to others. These firms are driving enduring success and providing new avenues as well.

Need to boost Female Representation: How?

Ivey Business School's Lawrence National Centre for Policy and Management has published a new study which further elucidates beneficial insights about the perpetual conflict for achieving gender equity in workplace. 

This research by Ivey suggests organisation, both private and public, makes a compelling case for employing more women to their teams to ensure a more diverse work-culture and it shall help the firms to grow their business as well.

A key finding of the report focuses on the comprehension about the difficulties of acquiring gender equity. Considering different strategic approaches towards different gender in order to benefit the business acumen is more beneficial than focusing on a single approach for everyone working in the concerned firm. The study also proposes hiring women to middle management jobs. It recommends intentional increase of women to male-dominated sectors such technology & finance. This particular strategy is called “trickle-down effect”. The strategy establishes a concept of increasing more women in the firms’ employees to show its commitment towards gender diverse workspace and a step to progressive future.

Another strategy that has been highlighted in the research is "bottom-up effect". This method seeks ventures to offer possibilities for women’s advancement. There are certain vicinities like education and healthcare where women are overrepresented, these areas need to advance women to middle/top management position in the sector from non-management.

Moreover, the study puts a strong focus on how important comprehensive support mechanisms are for the growth of women in their careers. There is no doubt that middle management jobs are welcoming women but they shouldn’t be pushed-down from acquiring top leadership position as well. Some of the steps that should be taken to foster female talent are leadership training, equal promotion opportunities and most importantly, mentorship. This will ensure an inclusive workplace in the business world.

Key Insights from the Report

The report reveals insights on the complex linkage between factors that influence workplace gender diversity. It also outlines concrete methods for organisations; government and private, to take care of gender inequality with proper guidance. Apart from this, the study also encourages stakeholders of organisations to work cooperatively in order to get better results for women’s success. 

One major point that this research put more focus on, is the need to put more attention towards industry-specific involvement in order to tackle the challenges within the industry. Those organization who put their focus on necessary approaches shall get a desired results of a diverse and inclusive environment in their workspace.

Lastly, the study puts an emphasis on the need of putting more attention on nourishing gender equality by the people in leadership position. As per the study, executive plays a very crucial role in maintaining an organisation’s work environment and their efforts would strongly help the company to become a more gender inclusive and diverse place to work.

Conclusion

In conclusion, gender equality is important all types of business and that to, morally and strategically too, to stay in the race of success in today’s global economy. Women must be pushed forward to senior positions and their contribution shall help the corporate world to thrive and endure all kinds of challenges with their changemaking skills and expertise. Women’s involvement is much required to build an inclusive environment in business. The study gives a detailed analysis and a guided route towards achieving a gender balance workforce with required methods and procedures.

Those business organisations which target towards a more strategical approach for achieving an inclusive culture may rise and become leaders in a longer run. While managing a challenge-full of business world, women’ empowerment needs even more attention to tackle those challenges and building an equal and fair place to work in and success may come soon in the near future.