There are several reasons to invest in female leadership for organizations. First, few would argue that the leadership of our corporations should reflect the population demographically. Additionally, corporations that invest in female leadership are likely to earn goodwill for their products and services by being considered good corporate citizens. Finally, by using the entire talent pool, corporations that foster female talent have a greater chance of finding the right person or perfect fit for any particular leadership position.
Reflecting the Population
Mining for a diverse workforce has many benefits. Like any corporation that seeks to broaden and increase its market share, demographic concerns will always be part of the analysis. Age, race, and gender will always be amongst the first questions when determining “the ideal customer.” As such, corporations will want to and should seek out a workforce (including a management team) that is closely reflective of the entire population.
Generally speaking, corporations seek to be thought of as good and positive corporate citizens. Diversity programs and other initiatives whose purpose broadens the opportunity to historically disadvantaged groups can build tremendous amounts of corporate goodwill for their products and services by initiating and executing such programs (especially those seeking to recruit, develop and ultimately promote female leaders).
Building the Best Possible Team
If a corporation limits its talent pool to half of the population, that corporation will be less likely to find the best people for any particular job or position. That statement is as axiomatic as saying that water is wet. Thus, any corporation should promote the idea that the best candidate could be male or female. Accordingly, those corporations that invest in female leadership will be on their way to hiring the best people to fill a job because they are unlimited by gender in the leadership ranks.
Finally, this recent Entrepreneur article highlights some of the methods for how some of the top corporations currently investing in female leaders. Some of the examples are Hilton, Yelp, and Lilly. Most notably, these corporations are 1) using big data to optimize their goal of creating more inclusive workplaces and 2) finding the talent pool where they are located like women’s colleges and professional organizations.