Diversity is more than just gender equality and respect for race, religion, or culture; it is also about maturing into a diversity of thinking. A progressive mentality may pay off in terms of company performance. For the past decade, women in finance have taken on leadership responsibilities and have been effective in bridging the gender gap. Change is presently transpiring. However, has slow movements.
Women in Finance, bring a unique viewpoint and set of experiences to the table. Their business strategy and knowledge are critical to the establishment and success of high-performance organisations. Here’s why.
Hustler, Achieve, Repeat Mantra: Hustling is a throne that women have ascended to throughout time. Failure is not something the women fear since they have been "hustlers" and the progress with each difficulty motivates them to keep going. What it means to hustle in the women's business world does not imply that one will not fail, but rather that one is more likely to succeed. Overall, Women at work have become more resilient.
Problem-Solving and Leadership Skills: At their core, they are great problem solvers. They understand how to gather the necessary resources, funding, and information from previous experiences. Soft skills, which have previously been used to justify why women are unsuited to lead, are now recognised as an essential component of good leadership. Women approach work more holistically, as part of their overall life plan, emphasising variables such as significance, work-life balance, and connection with co- workers.
Goal oriented approach: Leaders should exude certainty - it's crucial to set a good example for the rest of the team to follow as they work to achieve the institution's goals. Women clearly outperform their male counterparts in important areas such as taking initiative, driving for outcomes, bold leadership, and relationships
Adaptable to every situation: Over the last year, the pandemic has boosted digital and technological use. Leaders will need to learn from these constant changes and adjust rapidly to the demands of both their staff and consumers if they are to prosper. This includes developing strategic alliances, improving the customer experience, and increasing customer engagement, among other things. Women are better equipped to deal with challenging personal relationships, pay more attention to people's needs, are more oriented toward conflict avoidance and resolution, are more willing to communicate their opinions with others, and make efforts to achieve consensus. They also monitor and provide comments more often. Good leaders also step up to take on more responsibilities, and women have repeatedly demonstrated their ability to add that extra item to their to-do list.
Better risk management: It stands to reason that if a financial organisation has more stability as a result of having more women in its workforce and leadership positions, risk management will improve. Women, on average, make better risk-adjusted financial decisions than males. Women are less likely to enter a bubble or exit a collapsing market.
Empathy: Women are naturally good at building relationships, both with co-workers and with consumers. This trait is advantageous for a good leader since learning from obstacles, seeking knowledge from others, attempting to understand people, and working alongside teams is the greatest method to overcome challenges, surpass customer (and employee) expectations, accomplish innovation, and enhance ROI.
Women's amazing traits strengthen their position in the business sector and make the workplace innovative, sociable, team-oriented, and successful via distinct values and talents.
However, there is still a long way to go. So let's get ready, pull our socks up, and make it happen.
Amrita Malik is co-founder & CBO - Innoviti payment Solutions.