The Positive Impact of Women Leaders in the Business World
The future for corporate executives appears to be more difficult than ever, despite the optimism that the pandemic will soon be history. Considering the factors that include geopolitical turmoil, inflation, and—perhaps most significantly—the dual problems of labor shortages and new worker demands for salary, perks, and flexibility, 2022 is the hardest year for many firms.
Significant organizational costs result in employee disengagement due to desertion and lower productivity. However, there is a noticeable distinction in how this manifests itself in teams headed by women and those led by men. What is it about female leaders that have such a favorable effect on shareholders?
Women are more likely than men to exhibit the leadership style known as “compassionate wisdom,” which increases team engagement, happiness, and productivity while lowering the negative human capital costs that businesses fear today. Leaders of all genders should strive to exemplify human knowledge to address this year’s challenges.
Compared to men, women in leadership usually deal with more “challenges and obstacles.” Over the years, studies have repeatedly shown that companies in crisis are more likely to appoint women to leadership positions. This is partly because it is a stereotype that men would not accept such a challenging position and that women are simply better at metaphorically “cleaning up messes.”
Nevertheless, women succeed when given a chance to lead during a crisis. During the COVID-19 epidemic, nations led by women had the quickest and most efficient public health responses. In other words, women in positions have a track record of taking on challenging tasks.
A compassionate leader will consult with team members one-on-one to learn about their unique work preferences. A wise leader can make specific policy decisions that support flexibility and also a strong corporate culture. Even if hybrid work practices may not be widely favored, every leader will eventually need to decide how to define them.
Companies can invest in training their leaders to be ready to make difficult decisions while still respecting the humanity of their team members. A compassionate leader cannot only see that difficulty but also take action by, for example, allowing for flexibility in schedules. Women in leadership already exhibit aspects of compassionate wisdom.
Finally, just as personal vulnerability is essential for growing compassion, organizational understanding that is compassionate is best articulated through transparency. To use the example of the return to the office once more, leaders are more effective when they can convey their policy decisions in a way that acknowledges and respects the potential effects that change may have on each person’s life. Employees are more likely to be heard if you make it clear how policies are formed and what their intentions are.
Companies must not lose sight of the straightforward equation at the core of employee engagement as they scramble to give additional perks and incentives to avoid the expense of losing talent. It is still true that people leave managers, not enterprises. But in 2022, leaders who can handle difficult situations humanely will have a significant influence on creating a positive workplace culture.
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