If you had the opportunity to make more money, build stronger teams, and have a more successful company... wouldn't you take it? Well, the opportunity is out there and it’s simple: hire more women.
Studies show having women on your team actually improves your company and can make it more successful. Although this is true, women only make up 30% of the total workforce in the tech industry. Having more women in the workplace is beneficial and here’s why:
Research indicates that including women create stronger teams. In fact, teams that consist of at least one woman have a higher collective IQ than all male teams. Having co-ed teams not only boosts intelligence, but it also allows for better judgment. Evidence shows women are better at assessing risks than men, which is an important factor when making business choices. Different perspectives increase overall intelligence, encourage innovative thinking, and improve the decision-making process.
McKinsey & Company found a positive correlation between the number of women employees and the company’s profit. Fortune 500 companies with at least three women leaders have seen at least a 66% increase in return on investment, 42% increase in return on sales, and 53% increase in return on equity. While correlation does not necessarily prove causation, there is a strong relationship between number of women and financial success of a company.
Having a diverse workplace is a good thing in itself, and now we know it can also have incredible effects on your company’s success. So keep these benefits in mind next time you’re hiring!