It has been statistically proven that women are excellent motivators and role models. Furthermore, women bear leadership qualities that are critical to motivating teams and executing a vision. It’s no wonder that team diversity has been directly linked to higher margins. In addition to increased margins, why does diversity matter? There are many reasons. Diversity improves and boosts employee satisfaction, decision making and customer orientation, all while raising a company’s profile.
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According to CBC (2017), Canadian tech companies have been criticized for their lack of diversity...and the construction industry is no better. Statistics Canada (2014) shows the gender-representation of business-owners by sex (% for Canada) as 5% female; 95% male. Professional, scientific and technical services comes in at 16% female; 84% male. In fact, Statistics Canada (2017) proves that only 1 in 4 tradespeople are women. What’s more, male-dominated industries and occupations are particularly vulnerable to masculine stereotypes that make it even more difficult for women to excel (Catalyst 2017).
Yet, research conducted by the Peterson Institute for International Economics and EY demonstrates that:
Profits increased by 15% when the share of women in leadership positions went from 0% to 30%.
Companies with at least one female founder outperformed all-male founding teams by 63% over the past 10 years.
Companies run by women achieved 13% greater revenue compared to companies run by men.
Companies with gender diversity are 15% more likely to outperform.
This topic of gender diversity is of national and international importance. One that is so important a council has been formed between Canada and the United States entitled, ‘Canada-US Council for Advancement of Women Entrepreneurs and Business Leaders’. Harbr also believes this is a critical topic and is working hard to eliminate barriers that women face, particularly in male-dominant industries. Creating a diverse environment is important to Harbr and it is one of its main company values. We believe employees with diverse skills and backgrounds offer unique perspectives that aren’t necessarily represented by individuals with similar backgrounds. We look forward to continuing to create an ecosystem that encourages women to reach their full potential!
CBC (2017). Canadian tech companies say they value diversity - but what are they doing about it?
Catalyst (2017). Women in Male-Dominated Industries And Occupations.
Peterson Institute for International Economics and EY (2006). Study of 22,000 publicly traded companies in 91 countries; First Round Capital’s 10-year project, Catalyst, BNP Paribas Global Entrepreneur report
Statistics Canada (2014). Survey on Financing and Growth of Small and Medium Enterprises.
Statistics Canada (2017). Quoted in New Homes & Renovations - Women in Trades.