While many industries have been historically male dominated, women are making significant strides toward changing the workforce demographic. As more and more women are breaking through with innovative ideas and products, and bring about diversity and ample benefits, it’s time business owners seriously look into expanding their workforce to include more women. As we explore the various benefits that hiring women brings to your brand and your team, ensure your operation is protected with a Massachusetts General Liability Policy.
More appeal.
More diversity leads to enhanced creativity and better reflects society. With women making up over 50 percent of the global population, what reason can you give if your business is 100 percent men? Having a workforce made up of different genders from a variety of backgrounds demonstrates integrity and will in turn boost your company reputation and multiply your customer base through the widespread appeal that it will generate, says Small Business Trends.
Greater revenue and financial return.
In a recent study, women were found to bring in more revenue with a third of the capital used. What’s more, the Anita Borg Institute found that Fortune 500 companies with at least 3 female directors increased return on invested capital by 66 percent, return on sales by 42 percent and returns on equity by 53 percent, states the article. So, why not look into onboarding women who can potentially increase your revenue and your financial health?
Higher retention rates.
Companies that hire underrepresented groups instill a sense of security and emit a positive impression to outsiders. With this, retention rates increase, which will reflect in your overall productivity and efficiency.
Snowball effect.
Young women who start out in your company and see a woman as their leader and in an executive role are more likely to aspire to achieve that goal. This snowball effect will ensure they work hard and prove themselves to get the promotions they deserve.
About Metro Boston Insurance Agency
There’s simply no way to safeguard your business from all risks. However, can take steps to mitigate your risks by securing comprehensive insurance policies. At, Metro Boston Insurance Agency, we’re here to help. Call us today at 617.884.5480 to get started.
Written by Metro Boston Insurance Agency on Feb 16, 2017