In today’s world, women-led businesses are on the rise, with many start-ups and established companies being led by women as CEOs and in senior management positions- and why not?
The truth is women-led businesses have an edge. Studies show that women leaders tend to increase productivity and promote collaboration, two key elements to a successful business. While the number of women-led businesses is only half of those led by men, the increased appointment of women in management roles is a step in the right direction and more companies are realizing its benefits.
Research has shown that women leaders tend to improve business performance and boost company growth. In a survey of more than 350 start-ups, Mass Challenge and BCG found that women-run businesses deliver higher revenues, equating to more than twice as much per dollar invested. A report completed by MSCI ESG further supports these findings and showed that companies with strong female leadership generated a return on equity of 10.1% per year versus 7.4% for those without. Researchers also found that when comparing the returns of Fortune 1000 companies led by female CEOs to those of S&P500 between 2002 and 2014, the companies with women in leadership saw returns that were an astounding 226% higher.
The increase in revenue can be attributed to the qualities women bring to the table when running a company. Women are naturally more social and this can be seen by the fact that women leaders are more prone to create a positive company culture. Studies have shown that women in management have a better understanding of work-life balance; hence women-led companies better achieve overall job satisfaction needs than those managed by men.
Women-led companies are also more likely to be seen as diverse and progressive – values that investors look for when evaluating a stake in a company. Thus, women-led companies are more likely to help when you are looking to raise capital to further grow your business. When women are in power, they also tend to appoint more women, thus creating a positive cycle of diversity that is essential in this day and age. On average, businesses with female founders build teams that include 2.5 times more women, and companies with a female founder and executive hire 6 times more women than those led by men.
Beyond these factors, women tend to bring other inherent qualities to the workplace. Women are skilled at multi-tasking, which enables them to juggle several tasks, without impacting output. They are also more naturally intuitive and empathetic, which are highly critical assets to managing a company, and more importantly, people. This also means they are often highly skilled listeners, which not only is important when leading a team, but when dealing with customers. This helps make impactful business decisions that can boosts productivity and profitability. Today’s business world requires good soft skills and heightened EQ or emotional intelligence– something women excel in. Women have been proven to hold a key advantage in these soft skills- a study by global consulting firm Hay Group found that women outperform men in 11 of 12 key emotional intelligence competencies.
Thus, the answer is obvious- women leaders add great value to the business world and it is essential for more women to lead in senior management roles.
At 3 Peepul Productions, we are 3 women producers with complementary skills, and we enjoy working cohesively as a team. With our educational backgrounds and varied work experience, we approach storytelling and filmmaking from a multitude of perspectives. Our core philosophy revolves around valuing people, enhanced by shared values of integrity, communication, collaboration, inclusivity, creativity, impact and innovation. When we put all this together and apply it to all spheres of our operations, it brings an exciting, joyful and enriching dynamic to the workplace.
At 3 Peepul, we are fortunate to collaborate with filmmakers and teams, of all genders, for varied projects across India, UK and USA presently. Our focus is on both- the journey and the destination – to create meaningful experiences for ourselves, our teams and for the audience. Our firm belief is that when our collaborators and team members are happy, engaged positively, and valued as individuals, they will deliver results which go beyond targets written on a piece of paper. As founders of 3 Peepul, we take our responsibility seriously to create a collaborative, safe and enriching environment for our teams; knowing that creating and following good business and people practices will lead to profitability, growth and increased value for the company in future.
As we have joined the community of women-led businesses in India and around the world, we’d like to paraphrase Beyonce – “Girls truly do run the world”.