Research has proven it: the power of women in the workplace is undeniable.
From boosting the bottom line to driving innovation, the benefits of a gender diverse workforce are undeniable. The time to take a hammer to your company's glass ceiling is now. Companies are examining their own policies to empower female leadership & driving the conversation on just where that starts. Whether it’s setting clear goals about diversity or putting initiatives in place for female leaders to succeed, these workplace “must-haves” have never been more important. Today we're highlighting a few ways you can empower the women in your workplace.
Equal Work & Experience = Equal Pay.
To us this seems like a no brainer, because there's nothing a company understand better than the bottom line. But facts are facts: women in the United States earn on average 80 cents to every dollar earned by their male counterpart. (To get super specific, Iowa falls below the average: women earn 77 cents to men's dollar.) And this adds up, friends: according to the American Association of University Women, the gender pay gap costs women $1,000,000 over the course of their career. We're not talking chump change here.
Why does this matter? According to Natasha Thapar-Olmos, assistant psychology professor with the online clinical psychology program from Pepperdine University, when women feel they are being cheated out of fair pay, they don’t feel valued at work. What’s more, concerns over gender wage disparities & a lack of race & gender diversity in executive leadership can lead investors to lose confidence & hurt employee performance.
What can you do? Does your company conduct pay-equity audits? Companies that champion salary data transparency will assure pay equity & attend to possible wage gaps or other discrimination. These companies review the pay levels of their employees so that they can see, relative to position, job tenure, education, qualifications, etc.
Diversify Leadership: Promote Women to Middle Management & Executive Positions.
Driving women to pursue careers at all levels of the corporate ladder in male dominated fields is important. By promoting women as much as men, you show them they are valuable to the overall structure & are able to grow their skills. According to a recent post by The New York Times, new research finds that women hold fewer than a quarter of senior executive titles.
Why does this matter? Again, to us this is obvious. Diversity in the workplace can benefit a company’s innovation goals & overall performance. Furthermore, diversifying leadership makes it easier to identify issues of discrimination in the workplace. According to a Catalyst study, Fortune 500 companies with three or more women on the board outperform other companies — with 53 percent more return on equity, 42 percent more return on sales, & 66 percent more return on invested capital.
What can you do? Do you have a diversity committee? Having one can help facilitate & encourage productive discussion of identity, power& privilege to the workplace. It also empowers your people & provides the ability to bring about change into the hands of those below the executive level, as well as those who may be experiencing discrimination.
Invest in Your Women's Wellbeing, both Personally & Professionally.
A growing number of U.S. businesses are shifting focus from employee wellness programs to well-being initiatives & getting creative with ways to empower the people who work for them, both personally & professionally. Some companies are taking these initiatives another step further by recognizing the different needs of men & women, & developing ways to nurture them in their own respected manners.
Why does this matter? Yet another no-brainer in our minds: investing in the wellbeing of your (male & female!) employees will also benefit the overall performance of the company, boost morale & motivation within the walls of the organization, & encourage a healthy way of life, both in & outside of work. Research shows that people with higher levels of wellbeing are more sociable & energetic, more charitable & cooperative, & better liked by others. They show more flexibility & ingenuity in their thinking & are more productive in their jobs. They are better leaders & negotiators & earn more money. They are more resilient in the face of hardship, have stronger immune systems & are physically healthier & happier.
What can you do? We probably don't need to say this again, but we will... women have different needs than men. While movements like #MeToo & #TimesUp are shedding light on the disparities between men & women in the workforce & driving important conversations resulting in change, it also may be having a negative impact on it's purpose as well. Back to leadership & there being more men in leadership roles than women: men are comfortable grabbing drinks together after work or taking meetings on the golf course, but may be less comfortable inviting women to engage outside of the office, even with the intention of nurturing their career goals.
The mission of The Dostal House is specifically geared investing in women & their well-being: the advancement of women through community. We see the need for women to have the opportunity to connect with other women dedicated to living their best lives, & the power of surrounding yourself with influential go-getters. The Social Club at The House offers a full calendar of unique events catered towards women's topics & issues, with the goal of bringing women together. With specific tracks & events geared toward corporate climbers, female founders & social butterflies, women on all journeys in life find ways to plug in & invest in themselves. By facilitating important conversations, providing the opportunity to learn new & expand upon existing skills, & giving women permission to take ridiculously good care of themselves, the women who frequent The House empower, encourage & inspire other women to shatter the glass ceilings of society every day.
Are you interested in learning about a corporate membership for the women of your company? Let's chat. Drop us a note at: [email protected], & will dig into all of the reasons why this will be one of the best investments you can make. CHEERS!