Statistics prove that when a business is gender diverse, it is about 15 percent more likely to do better than other companies. And when a company has ethnic diversity, it is likely to do about 35 percent better than company that are not as diverse. It seems like the reason why this is true is because diverse companies are open to new ideas. Despite these statistics, women only hold a few C-level positions in S&P 500 companies.
Meet Susan McGalla
If you want to hear a success story, you have to hear about Susan McGalla. She has been a true pioneer when it comes to leading the way for women to become leaders. She says that much of her leadership is due to the fact that she grew up with two boys and her father was a football coach. She never got any breaks simply because she was a girl.
She is an executive consultant. McGalla is the former chief executive for the company Wet Seal and the former president for the company American Eagle Outfitters. She is on board of the Magee-Women’s Hospital Research Institute and Foundation and is a director of other organizations.
While Susan McGalla’s story is definitely encouraging, not every woman has found such great opportunities. Many women’s networks and initiatives are trying to make a change, but it seems that the problem is that women just do not have the support of other women in leadership roles.
Executive sponsorship opportunities may be the perfect solution. They work to recommend women to lead roles in businesses and to work on important assignments. This idea starts with a sponsor who would advocate for a woman. Executive sponsors would receive an incentive that would motivate them to invest in working with women leaders. Mentorship is a large part of making this idea work.