School of business is still primarily a male-dominated environment. For example, in 2005, the average intake of institutions in The Economist’s list of MBA programs was 30% women. By 2017, the percentage had only risen to 36%.
Everybody is aware that there is a pay difference between men and women, however, numbers range on how large it is. Compensation disparity of any magnitude, however, does often expose a company to legal action; it can lead to absenteeism and decreased productivity, which can lead to fewer profits.
It also has the potential to drive talented people away in search of greater fields (and higher paychecks). In reality, the most intelligent and employable individuals are frequently the first to go. In the end, gender disparity is an issue that affects everybody.
How Business School Can Deal With Gender Gap:
In the business world, the gender gap is a huge deal. It takes a lot to change that, but we have hope. Because at the end of the day, women are more than preparing some business document translation, schedule meetings, and be voiceless. So that’s why we listed 9 ways how business schools can help with the gender gap, and support gender equality:
1. Overcoming Barriers
There are several obstacles to overcome to encourage more females to enroll in MBA programs. One gap that women frequently discuss is a lack of support. So, the best thing to do is offer scholarships to support each gender. It helps full-time MBA students who are interested in gender parity and want to encourage gender diversity in tech, banking, or consultancy. The value of the reward and the number of awards will vary.
2. Allow People With Children in Business School
Women may be held back from the seriousness of an MBA program by childcare duties. Including a Pew Research Center research, mothers in the United States spend nearly double as much time each week caring for their children as men. Women with kids may find it challenging to attend business school due to this ongoing imbalance, which is compounded by caregiving schedules.
3. Hear Women Out
Women in business school encounter hurdles that their male colleagues may not. As a result, providing supportive settings for female students is critical. Many ladies on the course feel better able to voice difficulties as a result of efforts like these. For example, female students are routinely talked over by their male colleagues.
4. Diverse Teams
When students graduate, they will have learned to understand their stereotypes and work in an open community. There’s a lot of evidence out there now that shows diverse groups are more creative, inventive, and effective.
5. Promote Gender Equality
Promote and aspire for a diverse workforce, irrespective of gender, religion, race, or handicap. According to research, businesses with a good mix of men and women are 15% more likely to beat their competition, while those with a nice balance of ethnic backgrounds are 35% more likely. When it comes to gender equality, it’s good to have a translation service provider in each team, so no matter the race, or religion, all people are heard.
6. Invest in Female Students
Women entrepreneurship programs are required to help women achieve their goals of becoming leaders. However, having a women’s training program is insufficient. Women will not be able to progress if it is not done correctly. So motivate them, train them, pay them.
7. Eliminate the Stereotypes
It’s no surprise that women are punished for the behaviors that gain males’ esteem because, whenever a man takes command, he becomes a leader. When a lady does it, she is assertive. Even the name itself is absurd, emphasizing a double standard. We must work together to eliminate these preconceptions and allow women to lead in the same way that men do.
8. Gender Equality Policy
Gender equality has become a matter of policy for many forward-thinking schools, whether that’s agreeing to equal female representation in the classroom or appointing diversity officers. Hiring policies that discourage and eliminate bias can help organizations gain the advantages of balance and fairness. Businesses prosper when diversity, inclusion, and gender equality become policy and are ingrained in business strategy, rather than identity politics or clichés.
9. Provide a Mentor
Many women pursue a business degree to gain the information and competence they need to stand out in a difficult employment environment. The number of females attending business school has been gradually increasing. Whether that’s an undergraduate degree, an MBA, or a Master’s degree, the business school provides a significant platform for women to develop specific references, leadership qualities, and the confidence to succeed. And to do it all, business schools might need to hire a mentor to lead those women.
The Bottom Line
Increasing the presence of talented women in banking, consulting, and digital technology, which is often more lucrative, can be achieved by improving their quantitative performance in business school. Recruiters can also employ and keep a more diversified staff, rather than questioning the value of women. As a result, there will be more gender-balanced pathways for top management positions.