This Sunday we celebrated International Women’s Day and gave much deserved recognition to all the incredible achievements of women from around the world. It was also an important opportunity to reflect on the current state of women in business.
As the CEO of a male-dominated tech industry, I understand what it feels to be the only woman in a room. While we have made tremendous strides forward in achieving economic, social and political parity, there is still a long way to go and global companies can play a vital role in making this goal a reality.
Today, 40% of the global workforce is comprised of women, but only 4.8% of Fortune 500 CEOs are women— far from equal (PwC). If companies want to address this leadership disparity, they need to understand how to attract, retain and empower the next generation of female talent.
In recognition of International Women’s Day, PwC released an important survey on the state of female millennials in the workplace, “The female millennial – A new era of talent.” These findings are a great resource for companies that seek to provide equal career opportunities to women and develop the next generation of global leaders.
Below I highlighted a few key findings from the survey, that I hope you will find useful. Click here to read the full report.
Global Career Goals
71% of female millennials reported that they want to work outside of their home country during their career. This represents a very high percentage, given that only 20% of current international assignees are female. In addition, 62% of women feel that international experience is important to career development. Millennials in general value the opportunity to live and work abroad and believe that it plays a vital role in career success.
97% of both male and female millennials believe that work-life balance and flexibility are important. In my opinion, broader technology adoption and the increase of mobile working practices are key factors behind this trend. Productivity no longer means being restricted to a desk from 9-5. Employees can answer emails on the go, take conference calls from their car, get free Wi-Fi in most locations and video conference from their living rooms.
85% of female millennials said that a company’s diversity, equality and workforce inclusive policy is an important factor to consider when deciding whether they want to work there. That said, 71% of female millennials believe that while companies may be open to discuss diversity, it does not reflect real equal opportunities.
Almost 50% of female millennials stated they would like to be given feedback very frequently or continually and only 2% said feedback was not important. The feedback should focus on career development and goal setting and there is a strong consensus towards shifting away from formalized review periods.
Establishing equal opportunities for all is one of my top priorities at MOVE Guides. In fact, 50% of our employees and 50% of the leadership team are made of women, with over 15 nationalities represented across the board.