We are living in an era where women are making a dent in almost every domain of the modern industrial world. They are CEOs, Truck Drivers, Research Scientists, and who would have thought that we would be getting Spider-Woman too.

According to CSR Gender Group, which is an initiative of several independent gender equality and management consultants in the Nordic region, companies with more women in management and the board have done better through the recent economic crisis than the companies with no women in upper-management. The survey also supported the opinion of deliberately taking in more women as board members for positive financial results. The results for Denmark and Sweden are consistent with results from research in other countries. Moreover, companies with women in management and on the boards can improve through the financial crisis, says Anja Nordlund who is a partner in CSR Gender Group.

Therefore, let’s shift our focus to women in modern workplaces, their growth in the corporate & financial world, and how their presence impacts the profitability of companies.

The Women in the Workplace report by Mckinsey in 2019 shows that the representation of women at the C-suite has been improved by 24 percent. However, women at the managerial and other levels are still underrepresented. Their reluctance to apply is the number one reason for their underrepresentation. In a survey, it is found that women are 16 percent less likely to apply for a job if they don’t feel they completely fulfil the job’s criteria. Whereas, men apply for the same even if they meet 60 percent of the requirements. The term coined for this behaviour disparity in men and women is known as “Confidence Gap”.

There are certain changes that companies can do in their recruitment methods to get more women in the pipeline. First, human resource managers need to stop using certain words in LinkedIn Job Descriptions such as “Superstar”, “Tech. Ninja” etc. as some women find it hard to connect with them. It is advised to write vivid and straightforward job descriptions that promote diverse hiring. Second, when a woman sees other women on the LinkedIn page of a company, she is more likely to apply. Lastly, companies together have to make talent management with gender balance a priority. There’s a dire need to create strategies to build healthy gender-diversity in every organization.

The Mckinsey report also stated that there’s is a gradual rise in the number of companies hiring women for leadership roles than ever before. Moreover, companies with healthy gender diversity increase their chances of profitability by 25 percent. Henceforth, Gender Balance recruiting has become crucial today to make progress on the scale of Gender Diversity as well as to achieve financial goals.

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