From platitudes to planning: Advancing equality in the workplace
The past few years, there has been plenty of media engagement around achieving gender equality in the workplace. It's now time to pivot talking into action.
Everyone, it seems, is talking about empowering women and many are working to bring about lasting change in society. But what does women’s empowerment mean?
In the modern workplace, it includes the development of women’s networks and the promotion of exchanges on career issues among women. However, another goal is to advocate for greater participation of women at all levels of decision-making in public, political, and economic life.
And of course, the concept of equality forms the basis for all these goals.
Empowering women at work: The power of networking
According to a recent study by McKinsey & Company, Women in the Workplace 2022, women leaders are switching jobs at the highest rates ever, and ambitious young women are prepared to do the same.
Many factors contribute to this trend, with the most important being the opportunity to advance. More than two-thirds of women under 30 aspire to be senior leaders in their careers.
For women, making a leap to a new role can be a more daunting process compared to their male counterparts. However, by leaning on a network of dedicated individuals, opportunities for empowering women may be more accessible than expected.
Sallie Krawcheck, CEO and co-founder of Ellevest, talked about the power of networking with Darcy MacClaren, Senior Vice President & Head, Digital Supply Chain & Industry 4.0, SAP North America, in an “Empowering Women in Supply Chain” panel webinar.
“Networking brings countless benefits: Increasing one’s personal sphere of influence, securing a higher position, and making new contacts,” Krawcheck said. “Yet women often make less use of networking opportunities compared to men, giving away a great deal of potential, not only for themselves but also for their companies.”
Krawchek relied on her network during the startup phase of Ellevest, a digital investment platform by women for women. While major VCs declined to invest in Ellevest, she was able to raise a large amount of funding with the help of her network of women and people of color.
“When in doubt, you’re more likely to lean on your network, especially those in a women’s network,” Krawchek said. In this way, women can better support each other, be it in the form of investments, promotion, or knowledge sharing.
Hold the door open: To achieve workplace gender equality, women must help women
In order to smash the glass ceiling, we first need to reach it. Fortunately, the entryway to this barrier is in plain sight: To achieve gender equality in the workplace, women must hold the door open for other women.
Underestimated potential, few promotions
When it comes to equality, the balance between men and women remains uneven. Particularly in the world of work, women are still disadvantaged when it comes to promotion. Here, women often encounter the metaphorical glass ceiling, an invisible barrier that’s difficult to break through.
McKinsey’s annual Women in the Workplace study provides the dismal facts:
- In the US, only one in four C-suite leaders is a woman, and only one in 20 is a woman of color.
- For every 100 men who are promoted from entry-level roles to manager positions, only 87 women are promoted, and only 82 women of color are promoted.
- For every woman at the director level who gets promoted to the next level, two women directors are choosing to leave their company.
“Men are still promoted based on potential, and women and people of color are still promoted based on achievements,” Krawchek said.
Before female employees receive a promotion, their potential is often evaluated with a negative bias: How will she perform? How much potential does she have to take on a challenging role?
Such assessments are inherently subjective, and as a result, women are often underestimated in the process and thus less likely to be promoted.
To break this up, Krawcheck set a goal of getting more women into leadership positions. Eighty-four percent of Ellevest’s management teams and 83% of its board members are women.
Making a mark: How to begin advancing gender equality and diversity
Making a difference: How to quickly begin advancing gender equality and diversity in your organization.
Investing in relationships to empower women at work
The new world of work needs managers who are capable of driving forward company development. Mentoring is an effective instrument for the targeted promotion of junior staff and development of executives.
Of course, good performance is the basic prerequisite for major career leaps, but good performance alone is often not enough. If you want career opportunities, you have to be well-connected.
As an experienced sparring partner, a mentor supports those entering and moving up the career ladder. They not only help someone focus on the right issues, but also help with personal development by asking the right questions. Additionally, mentors can serve as a sounding board to help evaluate ideas, initiatives, and concepts to see if they are sustainable, meaningful, and valuable.
Moreover, mentors can help someone move out of their comfort zone to identify and embrace new opportunities, said Melissa Fleener, Vice President of Business and Digital Transformation at Boeing.
HR trends 2024: Melding humanity and hybrid work to retain top talent
HR trends 2024 are all about putting people first by improving the employee experience, humanizing management, and getting hybrid work right.
Being seen in the hybrid work world
Since COVID, hybrid work has become commonplace and grows in popularity every day. By taking advantage of advanced digitalization, employees can get access to the tools and data they need remotely, while also embracing in-person communication.
But hybrid work makes it all the more important to remain visible and not underestimate the power of developing and nurturing your personal relationships.
For example, intra-company communities can help share knowledge and experience, and also build a network of relationships to empower women.
“These groups not only enable leadership, but also enable networking across organizational boundaries,” said Martha Tracey, Senior Account Executive, Digital Supply Chain, SAP.
Whether looking to step into the role of mentor or nurture the relationship as a mentee, the importance of solidifying your own personal “board of directors” is key to a fulfilling career.
Women’s empowerment: Learning from mistakes
Nobody enjoys failure. Rejection, failure, and criticism all evoke uncomfortable feelings and often lead to self-doubt.
However, research shows that women are judged more harshly for their mistakes than men and may respond by being more risk-averse, a tendency often exacerbated by the quest for perfection.
Difficult women: Exhausted by bias, a revolution rises
Tired of being written out of their own narrative, difficult women get comfortable holding the reins of power.
As a result, some women may not seize leadership opportunities. That worries those committed to achieving gender equity.
However, the narrative of failure is being rewritten, emphasizing the importance of these missteps, and seeing them as an opportunity to grow rather than fall behind.
Krawcheck summed it up best: “On our deathbeds, we do not regret our failures. On our deathbeds, we regret what we did not do.”
This article was co-authored by Nicole Smythe, Marketing Design Specialist, Digital Supply Chain at SAP.
