Female-led companies are more profitable – Frank Recruitment Group
The Frank Recruitment Group has claimed companies with a female CEO, rather than a male, are more profitable.
This conclusion is drawn from the fact that, of 2021’s Fortune 500 companies, 87 per cent with a female CEO reported above-average profits, compared to 78 per cent of those headed by men.
Despite the inference of the findings, Frank Recruitment suggest there is still a long way to go to achieve gender equality in the corporate world; Only 39 of the Fortune 500 companies currently have a female CEO.
According to the latest Global Gender Gap report, it will take 132 years before the gender gap is closed.
In response to the findings, Frank Recruitment Group’s President, Zoë Morris, offered three suggestions as to how business leaders can diversify C-suite executives: “It may seem like an obvious statement, but to build an inclusive team you have to actually build an inclusive team.
"When a woman is looking at your leadership team, is she seeing any other women? If not, this could be the thing that stops a female employee from moving up into a senior position, with your business missing out on the value she has to offer as a result.
“It may be that women do already have leadership roles within your company, and the issue is down to their visibility.
"Giving employees credit for their work is crucial, as any manager will know, however, making their achievements known within the company can sometimes get overlooked.
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Offer suitable career progression opportunities
“Think about what opportunities you are offering to your female employees. Are you giving them a chance for career progression? Is the opportunity one that they will be interested in, or actually able to take?
“These are such simple questions, but actively putting more thought into the answers can make a massive difference. Try mapping out their career journey, making sure to include what your employee’s short-term and long-term goals are, as well as any personal circumstances that could affect these.
“This way you are seamlessly incorporating a focus on these questions into your routine. Once you begin doing this, you will start to see natural – and almost effortless – change.”
Promote equality within the workplace
“If the language used within your workplace communicates sexist stereotypes, regardless of whether this is unintentional, it could discourage female employees from believing they have a fair shot at a C-suite level position.
“Likewise, if the language conveys the opposite, they will be encouraged that gender doesn’t play a factor in the hiring processes. This doesn’t just apply to speech used within general office conversations either.
Zoe concluded: “Consider what messages both the textual and visual communications you send out are giving.”
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Featured image credit: Tenth Revolution
