Gender stereotyping hurting bottom lines
Negative stereotyping of women not only affects the individual but also a company’s bottom line, according to a survey conducted by Consortia in conjunction with the University of Queensland.
About 530 members of Women in Banking and Finance participated in the study late last year. The research found that while inroads had been made towards increasing gender diversity in the sector, women were still under-represented in senior professional and managerial roles. Compared to other English-speaking Western countries Australia has the lowest percentage of women on company boards and in key executive management roles, the researchers noted.
The study found that while structural barriers have partly explained why only a small number of women have made it to the top in the banking and finance sector, societal stereotypes have also affected women’s success in male dominated or traditionally masculine industries.
Participants were on average aged 37 and had on average 15 years of experience behind them. The study found that those who experienced stereotype threat – the fear of confirming or being judged according to a negative stereotype – also reported reduced job satisfaction, which directly affected their organisation. The study noted that companies could also be affected by employee withdrawal, reduced organisational commitment, reduced motivation and performance, as well as increased absenteeism, turnover and lateness.
The research suggested that organic mentorship, through which a woman receives the opportunity of being mentored within their organisation, went some way towards alleviating the problem. Showing supportive leadership was one of the most effective ways of improving morale in the workplace, the researchers stated.
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