Results from the Workplace Gender Equality Agency’s (WGEA) Employer Census 2021-22 reveal only 22% of CEOs are women, and men are consistently more likely to hold managerial positions, even in female dominated industries such as healthcare and education.
Furthermore, the report found only one in five boards has gender balance and just over one in five boards comprise only men.
Looking at the figures, on the face of it, aged care appears to buck this national trend of under-representation of women in leadership roles.
The WGEA groups aged care in the ‘Health Care and Social Assistance’ industry under ‘Residential Care Services’, and the data in this category shows 51% of CEOs are female.
However, when taken in context of the aged care workforce, of which women make up 86%, this figure is not representative of the proportion of women who work in the sector.
Furthermore, when it comes to pay, according to the WGEA, the gender pay gap between female aged care employees and male employees for Key Management Personnel specifically, it is 24.6%.
Improved business outcomes
The benefits of women in leadership positions are immense. According to research carried out by WGEA and Bankwest Curtain Economic Centre in 2020, increasing the number of women in leadership positions increases an organisation’s likelihood of outperforming in their sector on three or more key profitability and performance metrics. Furthermore, having a female CEO leads to a 5% increase in their market value; on average, this is worth the equivalent of AUD$79.6 million.
Other studies suggest that having women in leadership roles is linked to more innovation and can help organisations forge a deeper connection with their customers. Plus, they will inspire other women employees and boost employee engagement.
Different leadership styles
The WGEA report author and BCEC Principal Research Fellow Associate Professor Rebecca Cassells said that women tend to have different leadership styles from men.
“There is something different about women’s performance and management style. They tend to be more democratic, they tend to be more collaborative and to have a greater sense of corporate social responsibility. They’re also less likely to participate in fraudulent behaviour.”
Attracting women in leadership positions
Attracting women to leadership positions is mainly about equality. Recognising and supporting the quality input women bring to the table and providing the same opportunities across the board is vital, as is removing the hurdles that are often in a woman’s way to take up a leadership role.
Karen Taylor, CEO of Women & Leadership Australia says offering a role that has a flexible work environment with a more empathetic and compassionate leadership approach is crucial for women.
Female leaders must see and feel their sense of purpose within the company at every turn. Empower female staff by developing career pathways which allow them to develop their skills and progress; as well as learning new skills and innovative ways of working, it also helps support staff retention.
