What corporations can do to control exit of women?
Recent research indicates that women are leaving corporate at twice the rate of men. Companies are tremendously affected by the exodus of the women executives and it causes a negative effect in the team morale and the cost of finding replacement is very high. The National Foundation of Women Business Owners (NFWBO) finding suggested that, many of these women go into business for themselves and become entrepreneurs. This article examines the differences and provides suggestions for corporations who wish to attract and keep top women.
The study called Paths to Entrepreneurship-New Directions for Women in Business, was released at a conference sponsored by Simmons Graduate School of Management found that, women started their own businesses and another strong impetus was inspiration of winning business concept: roughly half of the women surveyed were motivated by the combination of hitting upon a great idea and identifying a market niche. Other major reason was the desire for more flexibility.
How companies can respond
- Identifying the gender equity
- By more rewards and recognition for the contributions made by the women
- Flexible work arrangements
The following measures would foster hospitable workplace for women employees
Examine the current scenario
According to The Paths to Entrepreneurship research finding, large number of women leaving the organization were not going home to have babies as assumed, but they remained in the workforce or starting their own businesses.
So, we need to identify the number of women in the upper management position and who are in the pipeline, positioned for future advancement and talk to them and find out what’s important to them. These conversations would help the organization to offer program to help women managers to advance in their career.
Avoid gender equity issues
Women fell that, a host of factors such as Gender-based stereotypes, absence of female role models and objective performance standards, informal business networks, mentoring opportunities and exclusion of women from male-only tradition are mostly affecting them. So, there should be common language for discussing gender-related issues and these issues should be removed from the sphere of individual personalities, and should be discussed from a business point of view.
Remove invisible barriers to women’s success
Organizations should eliminate the male-dominated hierarchies and perceptions and stereotypes and adopt interim measures to ensure safety of women and organizations should promote female approach to management.
So, corporation can reduce the departure of women executive, if such issues are avoided.
Reference
Kristen B. Donahue S. Retaining your best people- from A Timesaving Guide- THE- RESULTS-DRIVEN MANAGER. Harvard Business Press
Author : Subburam N.N
College : Amrita School of Business, Bangalore
Email id : subburamnn@gmail.com
