Recent research has revealed that companies with female CEOs are more profitable than others. Pulled together by Frank Recruitment Group – a global IT staffing firm – the data showed that 87% of 2021’s Fortune 500 companies with female CEOs reported above-average profits.
In comparison, for those without a female CEO, this same statistic dropped down to 78%. If there was ever a sign for women to believe in themselves as leaders, this is it.
The corporate world has made considerable strides in the right direction in its journey towards equality and diversity. Undoubtedly, women’s rights campaigns are largely to thank for this progress. However, although their success is evident, there is still a long road ahead.
Despite what the data suggests, when adding the ‘female CEO’ filter to the Fortune 500 list, the results drastically reduced, with only 39 out of all 500 features belonging to this category.
Before this becomes a reality, many companies require a culture shift. Despite this being a significant change, it can be achieved easier than you think.
Zoë Morris, president of Frank Recruitment Group, has explained three simple yet effective steps you can take as a leader to help bring this about: increase the visibility of women; offer suitable career progression opportunities; and promote equality within the workplace.
Zoë Morris says, “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.
“Just as people will notice if you aren’t promoting equality within your company, they will notice if you are. 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.”