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A few weeks ago, I read an article about female leaders written by Lisa Miller for The Cut. The title was “Why We Need Older Women in the Workplace.” In the piece, Miller writes about how she got hired to be an editor at The Wall Street Journal when she was approximately 30 years old. She tells the story of how others probably were better qualified, but how her boss, who was a woman in her 40’s, decided that Miller was the right person for the job.

Miller’s boss gets described as “…tough, funny, brilliant,” and “Sharp. Hilarious. Quick-witted. Irreverent. Also: kind, responsible, ethical, serious. Direct. A meritocrat. She loved people who made her laugh or think. She followed the rules carefully and broke them knowingly. She loved wielding her power.”

I know what Miller writes about because at my company, I have female leaders who are very similar to Miller’s description of her boss serving in the following roles, among others:

  • President
  • Chief Operations Officer
  • Vice-President, Marketing
  • Vice-President, Branding
  • Vice-President, Finance

Looking at the Workforce

Despite the reality that having female leaders, especially older women over the age of 40, leads to greater success, the country has a long way to ensure parity between women and men in the workforce. According to reporting from the Institute for Women’s Policy Research, women in the workforce:

  • Account for almost half of the workforce.
  • They are the only breadwinner or co-breadwinner for half of the families in our country with children.
  • Obtain more college degrees than men.
  • Earn less than men. In 2017, women earned approximately $0.80 for every $1 made by men. And it happened in almost “every single occupation for which there is sufficient earnings data.”
  • Gender parity for white women concerning pay equity will occur in 2059. For Black women, the year will be 2119, and for Hispanic women, it will be 2224.

How Companies Can Grow with Women at the Helm

Most people now understand that women carry the bulk of the load at home, even if they work outside of it. Women in business don’t have linear careers as men do because most have to make compromises in their jobs if they decide to become mothers. And, when their parents grow old and require extra help, it is typically women who shoulder more of the burden concerning taking care of them, while they also hold the fort with their families and work either in the home or outside of it.

Unfortunately, the reality is that women end up having to accept the consequences for decisions they make about their careers that many men do not. Often, if they leave the workforce to raise children or care for aging parents, it’s very tough for them to return to work, especially if they are over the age of 40. If they end up back at work, it’s often in jobs that pay them less. Studies have shown that the wage gap increases with age, negatively impacting women. Ultimately, it’s not uncommon for women to end up with fewer savings and retirement money than men, although statistically, they live longer. As women grow older, they also tend to report being underemployed at higher rates than men.

Talent and Toughness

However, I have seen in having women, most over the age of 40, in leadership positions that my companies have benefited. Although women are not a monolithic block, the women on my team have the smarts, as I’ve mentioned. They also have the talent, straightforwardness, toughness, diversity, drive, ambition, persistence, confidence, and, most importantly, humor to lead others. I rely on their intelligence and how they see the world.

All of the qualities that women bring to the business table are why the women who work with me have helped us become leaders in the industry where we operate. I’ve recognized that hiring women, including in leadership positions, not only brings diverse voices to my team, but women also bring out the best qualities in all of us for getting things done.

 

Author of “Not Your Father’s Charity: Grip & Rip Leadership for Social Impact”(Free Digital Download)

 

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