Conversations about gender equality and women's rights have filled the mainstream and online media in 2017. According to Merriam-Webster's online dictionary, the word "Feminism" is their word of the year, with 70% more searches compared to 2016. According to Facebook, International Women's Day 2017 was the most talked about world event, doubling between 2016 and 2017 with "more than 165m people producing over 430m interaction sessions worldwide".
As the voice for women's rights grows, it is important for us to consider our responsibility to deliver real change that will give women the opportunity to succeed. Economic growth is essential for this.
The business landscape keeps changing, growing and adapting thanks to the ubiquity and evolution of digital technology, but a level gender playing field in business is still a long way from us.
World Economic Forum predicts gender gap will not close completely until 2186
According to the World Economic Forum's Index on the Global Gender Gap 2017, the average increase on closing the global gender gap is 68%. There is still an average gap of 32% that is to be closed worldwide (which is an increase compared to 2016).
The gaps between men and women in terms of 'economic participation' and 'political empowerment' remain wide. Only 58% of the economic gap has been closed globally, marking the second year in a row that progress has been reversed and the lowest percentage, when measured by the index, since 2008.
There is still work to be done
While the UK scores well on ensuring equal education, health and survival rates between women and men, we are nevertheless lagging behind in economic participation and opportunities and significantly behind in political empowerment. Across the U.S., women earn an estimated income of $30,452 compared to $55,104 for men.
Across the world the pay gap is widening. Women still earn far less than men on average and are less likely to occupy powerful positions in business. According to the 2017 Index, only 22% of individuals in senior management positions are female.
As Iceland celebrates its 9th consecutive year at the top of the World Economic Forum's Index on the Global Gender Gap, we should be inspired by the fact that it is possible to work towards "complete equality of status, influence and power between women and men".
In celebration of International Women's Day (8 March 2018), we are identifying some of the ways in which SMEs can support professional growth and encourage female leadership.
Give equal space to be assertive and confident
Consider giving women on your staff the opportunity to manage projects, deliver strategies and find solutions. There is a great opportunity here for women in senior positions to offer training and lay the foundations so that other female staff can feel comfortable, confident and capable in similar situations.
Be a mentor, not a competitor
Do you give women and men the opportunity to be mentors to each other rather than competitors? Encouraging staff to mentor skills, or just share their skills, will undoubtedly contribute to future business success. This can help break down barriers between men and women on staff and answer the problem of potential female-to-male competition as colleagues. By embracing a collaborative approach to sharing skills, knowledge and expertise, everyone will benefit.
Have your say and share
Providing an environment of collaboration is a great way to share advice and solutions. But it is vital that women are empowered to give voice to their ideas. As a manager, it's important to facilitate these environments. As a woman on the staff, taking advantage of these opportunities is important to strengthen your voice and reputation in the company. You could start with an online space to share and discuss ideas between the team before moving to face-to-face meetings or presentations.
Educational opportunities
Women on the upskilling staff should be given the opportunity, whether by improving their leadership skills or by learning specifically for the role. There are plenty of free online courses and learning resources available. Our BOSS modules discuss technology topics online giving staff time to invest in their learning and skills (and in the skill set of the business!) without leaving the office or spending a penny. If you don't have time to invest in a full course, you might consider making time to read online. Try specific groups on LinkedIn, subscribing to industry newsletters or following niche blogs.
Modern working practices
Flexible working policies and modern working practices will attract the best staff to your business by understanding the external pressures (such as childcare, further education and travel) that may affect the way someone can do their best at work. Read our blog on how you can support modern working practices such as flexible working in your business this year.
Investing in their success
Along with free opportunities to develop, you could decide to invest in developing the women on your staff. As a person's role grows and their skills develop, their needs may change if they are to do their job effectively. You may want to invest in specific resources, platforms or software to help them excel and expand their output. This smart investment will be an excellent resource for the business as well as for your staff.
Making the most of online communities
Join groups of like-minded businesswomen and professional staff who can share their experience, advice, guidance, skills and connections across different professional roles. You may want to look for sector-specific or role-specific communities, or for general professional business support for women. Charities such as Chwarae Teg offer great support to improve women's economic development and also work with businesses and organisations to develop and improve their working habits.
Celebrating success
Adopting an inner work platform where you can share updates and news can be a great way to praise and encourage women on staff to celebrate their success. People work harder feeling that others are acknowledging their efforts. Think about using an intranet, team e-newsletter or online platform to share good news and instill more pride in the work of women on staff.
Communicate
Take time to talk to the women on staff to hear their ideas, suggestions and frustrations. This blog is a good starting point but talking to female colleagues will give the best insight into how the business could better support women on the team.
Acknowledging the gender imbalance in the workplace does not rule out the role of men. By making time to understand, learn and adopt some of these steps, you can begin to create a more collaborative and mutual workplace that encourages all staff to share and support each other to achieve.
Find out more about how you can be #BeBoldForChange and support the International Women's Day 2018 campaign here.