News about a high-performing EFT that exclusively invests in companies with a female CEO is just one of several high-profile articles released in the past months highlighting the business benefits of diversity. In this week’s newsletter, we’ll outline some recent findings and reiterate how your workplace can improve its DEI efforts.
Summary of Recent Workplace Diversity Findings
C-Suite Women are More Likely to Experience Toxic Workplace Culture
A recent report shows that women are 41% more likely to experience toxic workplace culture than men. Top-ranking women were even more likely to report a toxic workplace culture, with 53% saying they had encountered it.
Importantly, the reporting also notes that “a higher percentage of male employees in an occupation is associated with a slightly larger gender gap in toxic culture”. Conversely, the smallest culture gaps are seen in jobs with high female representation.
Why a Toxic Workplace Culture Matters?
Toxic workplace cultures disproportionately affect women – and it leads to the attrition of female workers. As we know, diversity is linked to stronger financial performance (amongst other things) so female attrition will ultimately harm your business’ bottom line.
We recently discussed how to build an ethical culture. You can read our coverage here.
Women Outscore Men in Leadership Effectiveness Metrics
A recent report by the Leadership Circle shows that the typical female leader outperforms the typical male leader in terms of:
- Relating to others in a way that brings out the best in people, groups, and organizations.
- Professional and personal development.
- Capability to relate to others authentically and with integrity.
- Making holistic improvements.
- Providing visionary purpose, strategic focus, and high standards of performance.
Why This Matters?
The report goes on to state that these findings don’t mean women are better leaders than men but, rather, that it’s important women are represented at the leadership level (and across all levels).
Advancing Women Towards Leadership
The American Psychological Association identified four steps to advance women into leadership:
- Identify potential leaders early.
- Establish mentorship and sponsorship programs.
- Support women in joining women-led professional organizations.
- Focus on allyship.
Based on our experience at CGL, we would also strongly suggest implementing workplace policies that benefit women workers.
To this end, it’s helpful to consider:
- Are your policies adequately flexible?
- Do they apply equally to all employees?
- Do you allow employees to take leave on diverse holidays?
- Are your corporate and social events inclusive?
- What’s your dress code like (if you have one)? (Read about dress codes here)
You can create a separate diversity, equity, and inclusion statement policy that outlines your expectations as an employer. It can also include the benefits of diversity, diversity training requirements, an overview of inclusive workplace practices, and details of how employees can promote and foster diversity.
Read more on embedding workplace policies that promote diversity here.
If you need assistance improving your workplace policies to promote an ethical culture and improve DE&I, reach out. Our employment attorneys would love to help.
The materials available at this website are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to this website or any of the e-mail links contained within the site do not create an attorney-client relationship between CGL and the user or browser. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.