Women have been working their way up through all levels of management in all types of companies for over two decades. A new book called Womenomics (Harper Collins, 2009) by co-authors Claire Shipman and Katty Kay describes how women are getting the work life they want at the same time women executives have become “the hot commodity” in the workplace.
Women in the Workplace Statistics
According to the authors, womenomics is a movement in getting the work life that professional women want, a new demand for the rules of engagement, and it is power. The movement is happening at a time when women executives are delivering higher profits, making the workplace more efficient, and are leading companies to outperform the competition.
The new “Asset-to-Estrogen” ratios can mean more profit for companies that employ more women. A new study from Pepperdine University shows that companies with the best reputation for promoting women beat industry averages by 116% in equity, 46% in revenue, and 41% in assets.
Women have also earned more educational degrees than men. Women have earned 57% of the bachelor degrees awarded in the U.S. and 58 percent of the graduate degrees.
Womenomics 101
Research also shows that women can use both sides of their brains and as such make better leaders getting better results than many of their male counterparts. With demand for female executives so high, according to the book’s authors, it is a good time for women to express what they really want in the workplace.
Ten years ago, women started leaving their jobs in droves in efforts to find a better balance in work, family, and personal lives. Today’s women executives want:
- Flexible schedules.
- Fewer hours at the office.
- To have the quilt free ability to leave the office in time to have dinner with the family.
Both authors are professional journalists, television news personalities, news correspondences, and both are married with children. They detail how they have found a better balance while moving ahead in their careers. They also provide additional personal stories from women executives from companies like Pepsico, Wal-Mart, Marriott, Sun Microsystems, Best Buys, and Deloitte and Touche.
Economic Turnaround
With women producing such strong results and asking for more flex time or less time, it all equals a win-win in an economic slowdown. Women remain productive and effective but can and do take the benefit of time over money- which in slower economic times benefits the company’s bottom line.
Writing New Rules for Success
The authors wrote, “We’re going to teach you to carve out a whole new, more satisfying path and write out your own rules for success.” The first step is a mental approach and the second is a practical approach. Start by keeping the following in mind:
- Guilt is a useless emotion.
- Time is the currency of womenomics.
- Women executives have the power because women now top companies’ most wanted list with more companies are realizing they want women in the executive suites and can’t afford to lose them.
- Women who want more flexibility with their work schedules are not alone – “Four out of five of us want more flexibility at work.”
- Write personalized set of rules for success.
- Work smarter versus harder.
- Flexibility should not be looked at as a favor. It is a business strategy that makes perfect sense in any economy.
Work Life Balance
According to the authors, Americans work two weeks longer per year than “the work-till-you-drop Japanese and several weeks longer than most Europeans.” Big changes are taking place in workplaces in most U.S. companies, especially for women. It’s a good time to seek a better work life balance and this book gives usable suggestions and techniques for achieving it.
Read more about Womenomics by viewing Marketing and Selling to Women.
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