Women leaders have been fighting an uphill battle for years now. Between the struggle of equal pay for equal work and the push for more inclusion in the C-suite, the path to leadership is no easy task for female professionals. The difficulties faced by women executives are made even more baffling by the findings of a new study by MCSI , reported on by The Huffington Post.
The research surveyed over 4,000 public companies across the world and found that women leaders generate more profit for their organizations than their male counterparts. In fact, organizations with strong female leadership on average garnered a 3 percent higher return on equity than businesses without a notable presence of women executives.
In order to constitute strong female leadership, organizations must have one of three qualities: three or more women on the board of directors, a higher percentage of women on the board than the country average or a female CEO paired with at least one woman on the board.
Companies without this strong female presence reported 24 percent more governance controversies, such as bribery, corruption and fraud. These stats only represent a fraction of the findings on just how beneficial women leaders can be to a company's success. Yet somehow, female directors still only constitute 18 percent of all directorships across the country, according to The Huffington Post.
Taking some tips from exceptional female leaders
Clearly there is an imbalance in leadership that has persisted for far too long. But, as the study shows, women executives are doing something right when they do get their fair shot at the C-suite. In honor of the women who have, and still are, paving a clearer path toward equality in leadership, let's take a look at some of the best leadership tips from the most powerful female executives in the game.
Communication is key – Communication is one of the most crucial elements of leadership, according to VP of Special & Alternative Content for AMC Nikkole Denson-Randolph. After working with brands like Starbucks, this female executive quickly learned that excellent communication nips a lot of problems in the bud, reported Forbes.
"Don't be hesitant to deal with individuals as soon as a problem presents itself," explained Denson-Randolph, according to the source. "Address it right away, be clear about what the issue is and most of all be constructive."
Think of yourself as a thermostat – Facebook's VP of global marketing solutions, Carolyn Everson, believes that it is critical for female leaders to be able to read the temperature in the room and adjust it according to the needs of the company, reported The Washington Post. Do people need to be revved up to meet the next quarterly goal? Or would instilling some calm be for the best? Executives should leverage their personal power in order to influence the mood of the organization as a whole.
"Communication is one of the most crucial elements of leadership."
Put your people first – Cindy Gallop is a force to be reckoned with in the world of female leadership as the cofounder of IfWeRanTheWorld and Make Love, Not Porn. According to Forbes, Gallop swears the key to leadership success is putting your staff first. This all begins with hiring decisions.
"Hire the very best people you can find, give them an inspiring, compelling vision of what you want them to achieve for the business," explained Gallop to Forbes. "[Then] free them up and empower them to achieve that vision any way they choose to use their own skills and talents, constantly demonstrate how much you value them."
Choosing the right people to fulfill your company vision is crucial but you must give them room to show you what they are made of. Don't micromanage their work and provide them with the tools and resources they need to thrive.
Be real with your employees – According to The Washington Post, one of the most common pieces of advice from female leaders across the board at Fortune's Most Powerful Women Summit was to be authentic with your employees. Whether this means sharing some personal anecdotes or revealing a few of their leadership weaknesses, there is something about these genuine moments that inspires loyalty and trust from staff members. Remember to show your employees that you are human every once in a while. Trust these powerful women; we are sure it will work wonders.