The future of the 21st century economy lies in the hands of women – hence the term, Womenomics. Studies have shown that women are performing better than men in school and university- and filling most job vacancies.
√ Organizations with women in senior positions make more money.
√ A woman has better management skills that can be termed ‘valuable’ rather than ‘soft’.
√ Companies that promote more women, easily outperform its competitors.
√ Inclusiveness, risk avoidance and compromises – the three most important components of management are better exhibited by women employees.
√ Women have filled three out of every five new jobs in the last few years.
These are not just surprising facts but the results of various surveys conducted on Fortune 500 companies worldwide.
Womenomics is all about ability or power, and making good business decisions with it. Women could be an effective answer to our ailing economy. A number of studies have concluded that experienced women employees bring more revenue to a company.
Women manage things in a different way. We are more comprehensive and cautious. Men on the other hand are competitive and risk-undertaking types. Better flexibility in the workplace is the need of the time for women to get to the top, or to put it in a better way, to save the Indian economy.
The Power of Women in the Workplace
Women try hard to bear the greatest burden of all – trying to be everything and do all things for all people. However, a lot of companies in India are adapting to the lifestyle demands of its women employees.
Organizations are beginning to understand that free lunches and fancy gyms are not all that women want at the end of the day. Instead, they are supporting us when we want to make our own decisions to control the way we work.
As long as the work is completed in time, companies are offering the option to work ‘whenever and wherever’ and the concept of 8 to 8 jobs is slowly diminishing. Companies like Best Buy and Capitol One saw a huge improvement in productivity when they started focusing on results, rather than being bent on compulsory office times.
With this kind of flexibility in the workplace, women find it a lot easier to balance and manage their work and family. This boosts productivity and the employee spirit, resulting in a two-way benefit.
Some companies are embracing the concept of Womenomics, thereby helping its women employees redefine their work lives in terms of ‘Time’ and ‘Control’.
What Womenomics Would Do For Women?
Womenomics can be called a nation’s guide or way to inspire and empower women and help them get where they want to be. This growth would give a woman, a novel way of looking at the various possibilities, priorities, responsibilities and success that lie before her.
While the female employment rate in India has considerably increased over the past few years, we still lag a little behind the US and Germany who stand at around 65%. However, it can be said that India is working its way towards making Womenomics a national priority.
© Naaree.com is a media partner for the 2nd Annual Women in Leadership (WIL) Forum India
Women in Leadership (WIL) Series Topics:
The 2nd Annual Women in Leadership (WIL) Forum India will be held at the JW Marriott in Mumbai on October 13th – 14th 2011. WIL is a cutting-edge platform for businesswomen from all backgrounds, industry sectors and countries around the world. Amongst the delegates in attendance will be top Indian and global businesswomen, industry visionaries, leading politicians, knowledge thought leaders and entrepreneurs.
Venue: JW Marriott, Mumbai, India
Date: October 13th – 14th
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