In the US business world, the post-COVID world and the leadership of women will be something which everyone will look forward to. The world leaders have certainly been challenged by the COVID-19 pandemic. However, women such as the German Chancellor Angela Merkel, New Zealand Prime Minister Jacinda Ardern, and the Prime Minister of Finland Sanna Marin have guided their respective countries in a way that many of their male counterparts could not. In their leadership, they showed decisiveness, resilience, and empathy which helped them to perform better during the COVID crisis.
You should think twice before calling it pure coincidence. Women are more communicative, compassionate, and agile as the gentler sex. Studies have shown that women are also more likely to find agreement, work collaboratively, and make strategic compromises for the common good.
It strikes as particularly odd that the business world has not taken more notice while these qualities have proved to help women leaders navigate countries. In this time of disruption, to lead companies through uncertainty, the US business world has an opportunity to engage a female perspective.
A team can be steered to success with women in charge of companies and brands. Women in the US are making over 80% of household decisions, according to Harvard Business Review, ranging from leisure expenses, shopping, and travel expenses to making major healthcare choices and buying homes. Yet, according to the World Economic Forum, the US business world occupies less than 8% of its S&P 500 companies with women CEOs. This represents a huge gap between those that are making decisions on behalf of companies that provide services and products and those that actually buy these things for their families.
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It is clear, in speaking with female CEOs and C200 members, that when companies offer a seat at the table to women, they indubitably benefit from having a female point of view. A unique insight is provided by women to the issues that their organization faces- building consensus, designing sustainable solutions, and delivering resolutions that ultimately unite community members and shareholders. In research by Deloitte, this is underscored which recognizes that companies with an inclusive leadership culture are likely to be more innovative by six times.
The US business world has a real opportunity to embrace the feminine perspective to create a more diverse, balanced, and ultimately resilient business landscape as we rebuild and recover from the COVID-19 pandemic. If women leaders can, after all, steer entire countries out of disruption and turmoil during a health global crisis then they should place some trust in women at the helm of businesses small and large at this moment of change and restructuring.
It has also been noted that women are considered more trustworthy and responsible than the other gender. Women feel a sense of responsibility towards whatever they do in life because they have been groomed in that way since their childhood. They are groomed but the elders in their home to look after their family when they get married. Finally, this special training of women can be put to use by the companies of the US business world to emerge as the more successful one.
With two female deputy director generals announced this week, the World Trade Organization’s (WTO) leadership team will have, for the first time, for women than men.
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In March, the organizations’ first female and African leader were Ngozi Okonjo Iweala and the new recruits will be working alongside her.
It is now high time that the world uses women’s leadership to create a more equitable future that does not focus only on women. Women in the workforce benefit the entire global economy and also from more diverse entrepreneurs and also from lifting families out of poverty.
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