For a long time, corporations and businesses have not been considering the issue of gender balance when hiring. This lack of consideration has left women alienated and less represented in c-suite positions and on the board of directors of companies. This is, however, gradually changing as more and more businesses are moving toward imposing a gender balance in executive positions and board of directors. But why does it matter to have women in these positions? Here are benefits that companies that hire women on their board of directors stand to gain.

Overhauling the entire system

A research done by the Harvard Business Review revealed that women are normally highly cautious before making any decision as compared to men who are generally less attentive to details. Hiring more women in the board of directors, therefore, brings substantial changes in the way the entire company is run. The diverse spectrum of opinion that women will bring in such a board can make an organization to achieve more.

Compliance to the law

An increasing number of states in the country have enacted legislation requiring businesses to consider increasing the representation of women on board of directors. In 2018, for example, the state of California required all public corporations based in the state to have at least one woman board member. Failure to comply with this regulation attracts hefty fines.

Attracting investment

The global call for companies to consider hiring more women as part of the move to ensure gender equality can be used as a chip to influence investors. Big investors who are keen on making investment returns focus on investing with companies that have a firm belief in gender diversity.

Fair representation

In most countries today, including the US and the UK, statistics indicate that the number of women slightly outnumber the number of men. It is, therefore, only fair that women get an equivalent ratio of representation when it comes to the administration of big corporations. The presence of women in such positions is highly likely to influence girls to become more motivated in other areas of life.

Bringing an element of diversity

Diversity is crucial in bringing and nurturing new concepts. Injecting fresh ideas from the knowledge, experience, and expertise that women have to offer can help make a huge change in a company.

Photo by Samantha Sophia on Unsplash.