Women are becoming a force to be reckoned with; achieving unprecedented success gaining wealth and power at a faster rate than men. While I applaud anyone’s success, we should have a look at why we are seeing a rise in powerful, successful and wealthy women.
The late NY Congresswoman Bella Abzug once predicted: “In the twenty-first century, women will change the nature of power rather than power changing the nature of women.”
And this is exactly what is happening. Women are leaving the traditional workforce, they no longer want to sacrifice values or fit into a mould previously determined primarily by men. Women are looking at options where they are still well compensated, but remain true to themselves.
Generally, women approach business in a different way to men and the results are astounding. These statistics came from Forbes Magazine:
Studies reveal that a woman’s innate desire to help others significantly contributes to broader economic prosperity. Consider this:
- While women earn 75% of men’s total income, their overall contribution to charity is 93% of men’s. (University of Tennessee)
- Fortune 500 companies with more female executives had a 35% higher return on equity and a 34% higher total return to shareholders. (Catalyst)
Women don’t tend to be driven by profit and status, money is not our sole motivator. I agree, if you are not financially secure then money is most certainly a top motivator, but once a woman is secure she focuses on other aspects.
There is a growing trend emerging that demonstrates women are driven by how they can help others – individuals and the world at large. Women want the chance to make a difference. They find the development of others a fulfilling role and in doing so they grow their business. In some cases to stellar proportions.
I am not assigning gender roles, nor devaluing a healthy dose of business acumen. The most caring woman in the world will not achieve if she does not understand how a business is driven. But those women who are achieving have pioneered what has been termed the “Female Formula”.
Women are not necessarily going to run their business or their team if they work in an organisation, by a female formula handbook. I am merely describing the trend of a shifting workplace dynamic. There are many men who run a business on a more caring approach and there are women who adopt the old style of command and control in their leadership. But the historical norm is shifting and that change is being attributed to women.
This shift is important because it is demonstrating diversity in leadership approaches – and the difference is determining a rise in success for women. We applaud everyone’s success and wish women (and men) everywhere all the best in their business endeavors.