In this episode of the Lead to Soar podcast, Michelle Redfern and Mel Butcher discuss the persistent workplace gender gap, its causes, and actionable steps to close it. The conversation covers the current state of gender disparity in leadership roles, the impact on women's economic potential, and strategies for organisations and managers to foster gender equity. They also highlight the importance of business intelligence (BQ) skills for women and discuss resources like the Lead to Soar Summit and Michelle's book, "The Leadership Compass."
Episode Highlights
Current State of the Gender Gap: Women have lower workforce participation, higher unemployment, and hold fewer leadership positions globally.
Economic Impact: The gender wage gap leads to significantly lower retirement savings for women, contributing to higher rates of poverty among older women.
Causes of the Gender Gap:
Corporate Systems: Policies and practices that inadvertently hold women back.
Managers' Mindsets: Unexamined biases affecting decisions about women's advancement.
Women’s Skills: Lack of exposure to critical business, strategic, and financial acumen (BQ).
Actions for Leaders and Managers:
Develop a Gender Equity Strategy: Include DEI accountability and leadership skill sets.
Implement Transparent Performance Evaluations: Ensure women are evaluated on performance, not personality.
Support Working Families: Promote shared caregiving responsibilities.
Invest in Women's Professional Development: Focus on building BQ skills.
The Importance of Strategic Networking: Aligning networking efforts with personal and organisational goals for effective career advancement.
Lead to Soar Summit: An event offering workshops, keynote speakers, and panels with C-suite women to help women develop leadership skills and build strategic networks.
Leadership Call to Action
Diagnose the Current State: Understand your organisation’s leadership gender gap through diagnostics and lived experiences.
Define Goals and Design a Blueprint: Set clear goals for gender equity and create a detailed plan to achieve them.
Develop DEI Accountability: Build DEI skill sets in leaders and ensure they are held accountable for gender equity.
Evaluate and Adjust Managerial Practices: Train managers to recognise and correct biases and to actively support women’s career advancement.
Invest in BQ Skill Development: Provide women with opportunities to build and demonstrate business, strategic, and financial acumen.
Promote Inclusive Workplaces: Develop policies that support women's family responsibilities and career mobility.
Encourage Strategic Networking: Help women build networks aligned with their career goals and organisational objectives.
Join the Leadership Summits: Participate in events like the Lead to Soar Summit to gain insights and actionable strategies for closing the leadership gender gap.
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