How Women In Leadership Can Transform Organizations
Rana Robillard May 9, 2024
Rana Robillard is Chief People Officer at Tekion and has served in top and senior level HR roles for more than two decades.
As women, we navigate a world shaped by history, culture and societal norms. It often sends the message that being a woman is a limitation when it comes to being a leader in business. But what if we shifted our perspective? What if we saw being a woman as a unique gift—a superpower that propels us forward?
As women, we stand on the shoulders of giants—those who blazed trails, shattered glass ceilings and fought for our rights. From suffragettes to scientists, artists to activists, their legacy lives on. We owe it to them to seize the opportunities they fought so hard to create.
In this article, I’ll explore how embracing our identity as women can lead to personal and professional growth. I’ll also dive into the data that unequivocally supports the idea that diversity isn’t just a buzzword; it’s a strategic advantage for companies.
The Trailblazers Who Helped Pave My Way
I’m forever grateful for all the women in history who worked so hard to provide all the opportunities we have today, including the ones in my life. Every day, I think about my grandmother, a widowed single mother who worked to support a family with a child who had a severe disability, and my mother, who led feminist activism throughout her life and achieved a glass-breaking career throughout her life.
I give credit to my fellow leaders who paid it forward, like Mary Lee Sharp at Sheraton Hotels, Ellen Jaffe and Laura Ferracane at Deloitte, and Hilarie Koplow McAdams and Erica Schultz at New Relic. Each of these powerhouses, including all the women I’ve worked with throughout my career, has provided endless inspiration to me. These leaders modeled how to dream big and make those dreams come true, and they showed me how my passion for doing good could truly be possible in important corporate roles.
Women’s voices are an important part of both social and professional conversations. We can help create a positive work environment that allows employees to thrive, which leads to better engagement and productivity. When we lead with our values and encourage other leaders to do the same, we’re able to make critical decisions that shape our organizations for years to come.
The Business Case For More Diversity
I know many leaders are struggling to figure out where to go on their DEI journeys today. They’re asking how they can drive meaningful change to strengthen their organization and stay true to the vision of creating a culture of belonging and inclusion.
I believe we need gender-diverse teams to compete and have a deep understanding of the markets we’re entering. There are many reasons why having more women in the workforce leads to a stronger, better company.
Financial Performance
The numbers don’t lie. Companies with diverse leadership teams consistently outperform their peers. McKinsey’s extensive research—across 1,265 companies in 23 countries—reveals that gender-diverse executive teams have a 39% greater likelihood of financial outperformance. But it doesn’t end there; ethnic diversity matters, too. Companies in the top quartile of ethnic representation also enjoy a similar likelihood of outperformance.
Holistic Impact
Of course, diversity isn’t just about financial gains. It’s about creating a virtuous cycle. Organizations that prioritize diversity experience greater social impact, contributing positively to their communities and the environment. They tend to have a more satisfied workforce, and when leadership teams, in particular, are diverse, they drive innovation and adaptability.
Better Decision-Making
When women serve as board directors, they change the way things work—for the better. They ask more questions and seek out multiple opinions so they can fully understand a situation before making a decision. This is obviously a significant value add to boardrooms. A 2023 World Economic Forum article pointed out that when corporate boards have more than a quarter of women on their executive committees realize a profit margin of 16%.
Attracting Top Talent
The WEF article also pointed out that having diversity at the top is key to strengthening a company’s talent pipeline. In particular, this is a draw for Gen-Zers entering the workforce. More than half of this generation’s workers said they wouldn’t accept a role in a company that lacked diverse leadership.
Making Dreams Reality
As an executive who worked incredibly hard to get where I am, I know that my presence is a necessary contribution to making dialogues better and companies stronger. So, I choose to hold my head high when I enter a room of key decision-makers.
I encourage women to remember that we’re architects of our destiny. By embracing our identity and advocating for greater diversity in the workplace, we can be catalysts for change. The magic lies in our stories—the stories of women who dared to dream, persisted against all odds and transformed the world. Let’s add our voices to that legacy and inspire generations to come. This can help ensure a more equitable, successful future for ourselves and for companies at large.