April 2010   Vol. 5 No. 4
 
 
IN THIS ISSUE:
 
 
"Dad, you really should write more about women in business."

My daughter Samantha lives in New York, and after some years in the corporate world, has her own interiors and design business. She was recently home for a visit, and handed me a brochure from an event she attended at The Rockefeller University's Women & Science Initiative. The program topic, Hormones and Profits: Is Gender Balance Better For Business? was the subject and talk at a Spring Breakfast Forum.

My daughter told me that in leadership traits, women rule! A Pew Research Center survey of 2,250 adults found that women lead men in five of eight key leadership traits; are equal to men in two, and miss by a small margin in just one trait. Click in the right-hand column to read the survey, Men or Women: Who's the Better Leader?

But don't assume the playing field has been leveled. Even with MBAs, women still lag behind men in job level and compensation and rarely catch up, according to a report from Catalyst, a women's issues organization.

Says Ilene H. Lang, President & Chief Executive Officer of Catalyst, "The time is up for 'give it time.' Women are approximately 50 percent of the labor pool and influence over 70 percent of household spending in the United States. It's just smart business to include women in the decision-making process, and companies should implement strategies that set targets and timetables to do so."

signature - Les
Les Gore
 
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Are Women Better For Business?
1 in 3 new jobs are expected to be at a woman-run company.

businesswomen

The chances that the boss could be a woman are rising.

Which should only delight my woman readers, many of whom already own or run their businesses.

About one-third of new U.S. jobs expected to be created over the next eight years are predicted to be at small businesses owned by women.

The Guardian Life Small Business Research Institute projects that women small business owners will create 5 to 5.5 million new jobs across the U.S. by 2018, transforming the workplace of tomorrow into a far more inclusive, horizontally managed environment.

The New York-based institute report called its projection "striking," since jobs at businesses owned by women currently make up 16% of the total.

The institute - the research arm of the Guardian Life Insurance Co. of America which serves individuals and small businesses - looked at the 15 million new jobs that the U.S. Bureau of Labor statistics anticipates will be created by 2018. The three key reasons given for the projected surge in women-bossed new jobs include:
  • Higher rates of self-funding among women's businesses than men's, allowing them greater flexibility.
  • The faster growth rate for women-owned businesses than those started by men.
  • Fields and occupations dominated by women are expected to grow in coming years.
The report also predicted that of jobs created by small businesses, more than half are expected to be created by businesses owned by women.

Not only have women-run companies handled the financial crisis better, and with greater confidence than other enterprises, businesses owned by women are less likely to rely on banks or venture capital funds, opting instead to use their own money or help from friends and family, said the institute.

"Not relying on outside capital can be beneficial since lending standards have tightened during the recession," said Mark Wolf, director of the institute

"As jobs at many businesses owned by women open up, more employees will find themselves with a female boss," Wolf added.

Making a strong business case for gender balance.

Okay, so you know we're witnessing an historic shift and economic opportunity brought about by the rise of women as the majority talent pool, as well as being the leading influence in consumer purchasing decisions. Most business leaders, but not all, get it: that having gender balanced organizations leads to superior business performance.

But how do you make the shift? How can you get your organization to become more gender balanced, if it isn't already? In her new book, How Women Mean Business: A Step By Step Guide to Profiting From Gender Balanced Business, Avivah Wittenberg-Cox, outlines how to "shift an old corporate culture into the modern age," through four gender balancing steps or stages: Audit, Awareness, Align, and Sustain. Click to read more.

Here are more suggestions from CEOs and executives from major companies to help you make the playing field more level for women at your workplace:
  • Don't assume that the playing field has been leveled.
  • Redesign systems to correct early inequities.
  • Collect and review salary growth metrics.
  • Build in checks and balances against unconscious bias.
  • Make assignments based on qualifications, not presumptions.

Articles about Gender Discrimination in the Workplace

Why The United States is Behind the World When it Comes to Women in Business

Why Equal Pay for Women Would Benefit the U.S. Economy

History of U.S. Laws That Negatively Impacted Opportunities for Women


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aboutUs About Les Gore
Les Gore, founder and managing partner of Boston-based Executive Search International has more than 25 years of recruiting, career development and
human capital experience, working with individuals and organizations ranging from multinational corporations to small, entrepreneurial businesses.

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