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4 Industries With Untapped Potential For Women
Posted by Insightlink on 05/09/16
According to research by Pew Social Trends, women want a secure job they enjoy, but are less likely than men to ask for raises or promotions. This trend increases as they age when many women face tradeoffs that go with being a working parent. Meanwhile, attracting and retaining women talent has actually shown to improve company’s bottom line. A study by Peterson Institute for International Economics found that if at least 30 percent of their leaders are women, their net profit margin increases by 6 percent.
But how exactly do women help improve profit margins and the dynamic of your workplace? Here’s a look at how industries with untapped potential for women can help improve your business.
According to research from Deloitte, women represent manufacturing's largest pool of untapped talent in the United States. Other than in manufacturing, women hold more than half of professional and managerial positions across the U.S. workforce. This opens up a large pool of untapped talent for manufacturing companies like Apple Rubber. While they make up just 27 percent of manufacturing employees, women make up nearly 47 percent of the total U.S. workforce. Apple Rubber's blog emphasizes the gap between highly educated and experienced women versus the lack of women in leadership roles and lists out five compelling reasons why this needs to change. The Institute for Women’s Policy Research attributes the issue with a lack of female role models, gender stereotyping and less family-friendly flexibility.
Manufacturers have long struggled with finding skilled, quality workers to fill just about every area of their industry. But recruiting a pool of talented women with leadership experience and STEM degrees can alleviate the skilled labor crisis.
An article from Science Nordic reports that women suffer from more maladjustment in science and technology than men. That maladjustment often refers to performing jobs that don’t fit their skill set and being underemployed such as taking on involuntary contract or part-time work. But technology companies, like any business, can benefit from a direct increase in engagement by hiring female managers.
Gallup found that only 25 to 31 percent of employees are engaged when working with a male manager. Meanwhile, research shows that employees who work for women managers are more engaged than those working for men. Meanwhile, 35 percent of those who work with a female manager are engaged. The research shows female managers are more likely than male managers to encourage their employee's career development and are more likely to check in on their development.
The cyber security industry relies on constant evolution and innovation to stay ahead of malware threats and data breaches. A diverse and talented team of leaders are crucial to cyber security's success to bring new ideas to the table. Yet women in cybersecurity only make up 11 percent of the workforce. Numerous studies and research finds that women are more empathetic and flexible and have stronger interpersonal skills. These qualities translate into an inclusive, open consensus building leadership style. That type of communication and openness to ideas can directly impact the cyber security industry and open the doors for a new standard in cyber protection.
Research from CTI found that the financial services industry risks missing out on trillions in potential business because it doesn't embody innovative behaviors, and has failed to build a culture that attracts and retains a female market. The research also found that women are “economic powerhouses” and aren't just managing finances at home, but 62 percent are the primary source of household investable assets.
Despite all of this research, only four percent of CEOs in financial firms are women. That leaves the door wide open for women looking for challenging work in leadership roles looking to make a big impact on the economic world. The real question isn’t whether or not women can make a difference in financial services. It’s why industries around the world aren’t actively recruiting women, and keeping them in leadership roles?
Where does your company stand on each of the critical "4Cs" of employee engagement and satisfaction?
How many of each do you have?
AboutInsightlink Communications are experts in employee survey design, data collection and analysis. Since 2001 we've helped companies of all sizes measure and improve their employee satisfaction and engagement.
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