The Strategist

BCG: Pay more attention to your senior-level women

10/27/2016 - 15:08

A new study by The Boston Consulting Group shows that large and well-known companies often do not pay enough attention to level of involvement of women leaders in the workflow. As a result, their financial performance loses to those companies that actively engage women in the managerial activity.
The study named "The Rewards of an Engaged Female Workforce". Experts of The Boston Consulting Group (BCG) tried to find out to what extent senior women inspire financial performance of these companies. To do this, the analysts have interviewed about 345 thousand employees of different companies around the world. The Boston Consulting Group emphasize that the more a person is involved and interested in their company’s activities, the better results they can show. The company, in turn, will also benefit from it. However, the survey’s results show that often degree of involvement of women and men in the company's management varies considerably. Financial performance in companies where senior women are interested in working less than men, suffer.

The paper named important factors, which contribute in greater involvement of women in the work process. Those are respect for their work, the ability to choose right work-life balance, good relationships with colleagues and management, promotion opportunities, as well as goals and objectives set by the company. The Boston Consulting Group suggests that women are passionate about their jobs in those companies where their work is appreciated, their personal life and family do not suffer from work, where they have an opportunity to build a career, and so on. On the other hand, experience of companies that did not properly take into account importance of these factors showed that women there could not properly express themselves. They did not move up the career ladder, had mainly support functions, and, as a result, performance of their companies suffered.

Given these results, The BCG advises companies to heed needs of senior women, as well as properly use their potential in order not to overlook a possible future leader in their face. In addition, it is necessary to create flexible working models so that work-life balance was equally suitable regardless of an employee's gender.
Annual report ‘The Global Gender Gap’ by the World Economic Forum (WEF) says that every day women work 50 minutes more than their male colleagues. There is still gender inequality in the world’s labor sphere. The analysts say we will need at least 170 years to fully resolve this issue, despite the fact that number of employed women throughout the world has increased by a quarter of a billion in the past 10 years.

The study also considered unpaid household chores that women do every day. At the same time, men still do 39% more paid work than women do, stated the paper.

In some countries, such as India, Portugal or Estonia, women annually work 50 days more than men do. However, there are countries in which the process is reversed. For example, men in Japan and the Netherlands still devote to work 30 minutes more even taking into account women's household chores, according to BBC’s reference to the report. 


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