March marks Women’s History Month, observed annually in the United States and the United Kingdom, two countries where Credico is based. It is a time to recognize and honor the countless contributions women have made throughout history. This year’s theme is “Women Who Advocate for Equity, Diversity, and Inclusion.” These women are fearless champions who aim to eliminate bias and discrimination in our world, past and present, to create a future where everyone is treated fairly and inclusively by society. This theme is fitting for a month dedicated to celebrating women, as they have often faced challenges in achieving equity, diversity, and inclusion in the past and even today. Although progress is being made, women worldwide are still fighting for their place in society.
There are 7.95 billion people on earth, and women make up almost half the total, 3.95 billion. Celebrating Women’s History Month is necessary for the world and businesses, as women have always been present and deserve recognition for their contributions and expertise. Women of all ages have something valuable to offer, making the world a better place for generations. Your business can benefit significantly from embracing, including, and advocating for women. By doing so, you support women in your lives and women worldwide.
Here are five impactful ways to ensure your business celebrates and advocates for women in every aspect of your work.
Help mothers on your teams have the title of mom AND professional
Motherhood is something not all women experience for a variety of reasons, one being that they don’t want to have to choose between having a child or a career. The US Bureau of Labor Statistics 2020 reports that 6.1% of mothers are breadwinners, and 31% of women are the breadwinners in their UK households. A 2019 Pew Research Study highlighted the unfortunate reality for working parents: mothers face greater career challenges than fathers.
Let them lead
In business, hiring women has many advantages that can lead to incredible success. Although women represent almost half (47.7%) of the global workforce, only 27.1% are in leadership positions in the US and 30% in the UK. However, when women are part of your team and culture, they bring diverse perspectives, enhance productivity, and boost morale. Women are multidimensional and effective communicators who can provide constructive feedback, making them an asset to any business.
Hire more women of color
Diversity and inclusivity can have a positive effect on your business’s profits. A diverse team can increase creativity, innovation, productivity, and engagement. When companies embrace diversity and consciously include individuals from all backgrounds, they become better equipped to attract, retain, and engage talent. By hiring women of color in your business, you can reflect the diversity of your communities and customers.
Support women-owned businesses
There are 12.4 million businesses owned and operated by women in the US, generating $1.8 million in revenue every year. Supporting enterprises owned by women benefits the economy and the industry and celebrates and supports women. When female entrepreneurs do business with other female business owners, it boosts the confidence of other aspiring women business owners. It helps highlight the role of women in the business world and demonstrates their ability to lead and succeed.
Pay women what they are worth
The gender pay gap continues to be a significant issue for women, even in current times, and the statistics confirming this fact are concerning. In the US, women earned 82% of what men earned. Similarly, four out of five employers in the UK pay their male employees more than their female counterparts, with a median pay gap of 9.4%. It is crucial to address this issue and achieve pay equity for all individuals, regardless of gender. Paying women a fair wage demonstrates their value and worth as employees.
This month, we celebrate and thank the women who have personally and professionally shaped us. We recognize and honor you, not just this month, but every day, because the world would not be where it is today without women.