Skip to main content

Challenges, Opportunities, and Future for Women in Business

 Multinational companies like General 

Motors and IBM are appointing female CEOs. Many of the Fortune 500 businesses are being run by women. However, these facts are valid only for 6.4% of the leading companies. The gender pay gap and inequality towards women are problems that still exist. Let us look at the #challenges, #opportunities, and #future for #women in #business.

Challenges:

Underrepresented in Key Areas

Even though a spike can be observed in the number of female workforce in several industries, major areas like engineering, tech, and finance are still male-dominated. In the U.S., women form just 24% of the workforce in STEM (#science, #technology, #engineering, and #math) industries, while in the U.K., the numbers are less than 15%.

Gender Bias in the Workplace

Although most companies look for the best person for any job, women usually succeed more when they use a male or a gender-neutral name on their CV. This highlights the unconscious gender bias that still exists in the #workplace. Such gender bias suggests that similar characteristics and behavior are interpreted differently by men and women in the workplace.

Gender Pay Gap

According to a survey by Glassdoor, 68% of the women accept the salary offered, while more than 50% of male employees tend to negotiate. It was also observed that when women try to negotiate their salary, the outcome is usually less favorable. Even if they ask for a pay raise, they are 25% less likely to get one.

Opportunities

Policies Regarding Gender Equality and Inclusivity

Be its equal representation of women on the board or their #hiring, #gender #equality and inclusivity are gradually becoming a matter of policy for several forward-thinking companies. Many companies thrive after making commitments and embedding these policies in their #business #strategy. Such policies also help an organization in attracting top talent.

#Entrepreneurship

In the past 20 years, women-owned businesses have increased to 74%. This indicates that launching their own business is the quickest way for women who wish to acquire #leadership roles. It also allows them to collaborate and hire like-minded and ambitious women creating a path for the future.

Strengthening Resume with Business Degrees

With the number of women enrolling in business school gradually increasing, it is hinting that women are looking to sharpen their knowledge and expertise with advanced business degrees. Business schools are enabling women to become subject matter experts, acquire leadership #skills, and gain enough confidence to step out in the male-dominated business world.

Future:

Automation will Take Over

According to a McKinsey report, 70% of the average clinical posts are held by women in mature economies, while they account for more than 40% in emerging economies. It has been anticipated that all such clinical posts would be taken over by automation. Therefore, unless women upgrade their skill sets, they will face substantial job losses in the future.

B2B Sales Are Likely to Become Women-Oriented

Today's buyers no longer depend on salespeople for all the necessary information. #Salespeople are, in fact, looking for more autonomous authority, collaboration, and transparency, expectations that sync very well with a woman's strength and capabilities. From building long-term relationships to collaborating on a solution to having an emotional connection with the buyer, women would fare much better in such sales-focused tasks.

Women in Forties will Restructure Organizations

If in the future, gender equality becomes a policy, then many organizations will re-evaluate their structures. Women who usually pause their careers in their thirties to focus on their families would rejoin their organizations. With their talent and nothing to hold them back, we will likely witness a significant reshuffling in corporate structures.

It's difficult to predict the future for women in such a complex and uncertain world. However, if they can respond favorably and acclimatize themselves to the changes, we are likely to see a workforce that would be driven by women

Labels:
Location: United States

Comments

Post a Comment

Popular posts from this blog

5 Things That Are Stopping You from Starting a Business

  A journey of thousand miles begins with a single step. However, it is often challenging to take that first step. When starting a business, most people either back out or hold themselves from taking that initial step. Therefore, if you are one of those people, then in this article, we will discuss some of the most common problems that hold people back and how to deal with them. Financial Problems You need a considerable amount of funds to launch any kind of business. And that can be a significant roadblock. You also need to keep some liquid cash at hand to support yourself through the initial part of the journey. Therefore, if you are struggling with a cash crunch, you need to reconsider. You can save the required amount by cutting your expenses and opting for refinancing to reduce your house payments. You can also work towards generating a passive income. These tips can easily help you save a few hundred dollars each month. You can also opt for funding, where you can pitch yo
Post a Comment
Read more

What Business Resources are Available for Women?

Women in America own more than 12 million businesses, and numbers are continually rising. Most women report that it's challenging to find the right resources and mentors. Fortunately, there are many resources and websites that may make the process easier. Here are the top agencies and programs that assist women-owned businesses in many ways. Association of Women's Business Centers Founded in 1998, the Association of Women's Business Centers is a nonprofit organization that provides low-cost counseling and training. Women who are looking to start, grow, or expand their business can check AWBC. They have partnered with U.S. Small Business Administration (SBA), which has more than 100 centers in the country. AWBC also hosts various events and webinars that you can attend for further guidance. NAWBO, the National Association of Women Business Owners NAWBO, the National Association of Women Business Owners, is a dues-based organization that has become the voice of more than
Post a Comment
Read more

Best Place for Young Women Entrepreneurs to Find Mentors

Gone were the days when women had to fight for their fundamental rights , but today, women are setting benchmarks in every field. Women in Business are also giving neck-to-neck competition to our male-dominated societies. We need more young women entrepreneurs to reach new heights and take the lead. And young women entrepreneurs need mentorship to launch a business, guidance to grow their Business, and access to appropriate business resources to run their businesses successfully.   So, where can young women entrepreneurs find mentors?   Local business networking events:  You can attend local business events in your industry to connect with other business professionals. Start talking to your friends and relatives, and go through networking sites or social media platforms to find business networking events around you.   On college campus:  You can start discussing your goals with your teachers and request them to conduct special sessions on entrepreneurship. If entrepreneurs
Post a Comment
Read more