Women Can Improve Organizational Performance

Women Can Improve Organizational Performance

Leadership opportunities for women in business


Are you aware that companies who hire more women can greatly benefit; it is estimated that companies with three or more women in senior management functions score higher in all dimensions of organizational performance?


Not to mention, “women’s economic equality is good for business. Companies greatly benefit from increased employment and leadership opportunities for women, which is shown to increase organizational effectiveness and growth.” (McKinsey & Company, n.d.)

As a highly successful credit repair advisor, Chayo is driven to obtain the highest standards for her clients, especially the woman who come to her for help with rebuilding their credit. Her success in working with a woman in general with credit problems has proven to be highly advantageous for them in the empowerment of their personal and professional life.


Women entrepreneurs have become a force to be reckoned with in the business world. As the market grows, it is proving to be a critical source of innovation plus job creation to fuel economic growth.


Nonetheless, woman-owned businesses are not granted equal capital in investment opportunities, which roughly shows to be more than a $300 billion-dollar credit gap. (WGDP , n.d.) The concepts are basically simple, however in today’s society, having just an average credit rating may not be enough. If you are female with a lower score, the chances of credit approval decrease. Employers are beginning to check credit history to make sure an employee is a good fit. Think of your credit score as a resume, your life history.


On average men have an average credit score of 630 out of a possible 850, but many women lag behind at 621. In most cases, credit scores do improve with age, but women tend to never draw even, let alone pull ahead. (Morad, n.d.)

In case you are wondering why the difference, it mostly boils down to the gender pay gap. Yes, the imbalance has improved since 2016 but women are generally paid about 22 percent lower than the average men’s salary. Because of the lower annual income, causes many women to use a larger portion of their available credit.


“That hurts their creditworthiness,” Steve Millstein, a certified credit counselor at Credit Repair Expert. (WGDP , n.d.)

It is simply a numbers game; they care about creditworthiness, which is influenced by income, outstanding debt, and the history of repaying loans or making timely payments for goods and services.


“They simply use numbers and facts to draw their inferences,” Millstein said. (Morad, n.d.)

The basic concepts of credit stability are simple, but most people see these topics as taboo, when in fact they are essential to becoming a successful financially independent individual. Chayo Briggs knows such issues are daunting, but you may need to borrow money at some point in the future.


Your credit score determines two things that can affect your loan approval. First, lending money entails risk; lenders need to know you are reliable. Second, it determines the terms of your loan.


Chayo always recommends as a rule of thumb to keep the credit utilization under 30 percent; that is the amount of credit you owe compared to the credit limit. In other words, the limit is $1000 then the balance should stay below $300 on average. Remember, think of your credit as a resume, it tells everything about your habits in daily life.


The women who pursue higher education and find meaningful work prove to be more impactful on their families, community, and economy.


A study by UNESCO indicated that for every year a country’s average year of schooling increases, the country can expect long-term economic growth by as much as 3.7%. Today, there are more social enterprises, celebrities, and philanthropists dedicated to empowering women than a decade ago. And influential leaders such as Jack Ma, Richard Branson, and Kevin O'Leary have also championed the narrative for more women in leadership and management positions. (Today, n.d.)

In today's political climate change, the lobby has gained momentum. So much so, that it might receive backing of law. If the re-introduction of the Paycheck Fairness act of 2019 becomes reality the tables may very well change. The news for women, in general, it fantastic, especially for those who seek higher education. It may also work on rebuilding communities and creating a sustainable economy. (Tran, 2019)


The statistics prove that having more females in the work environment is linked to improved overall productivity, along with organizational health. Besides the fact that a gender-diverse atmosphere tends to be less aggressive, enhancing collaboration among employees and management.


“A study by the Center For Creative Leadership found that having women in the workplace actually increases the level of job satisfaction and dedication in the organization.”

One other key factor has shown to be valuable, in organizations that are staffed over 45% females, the burnout rate decreases, and most find their work more meaningful. In light of this fact, employee retention would increase limiting the amount of hiring additional staff thereby improving an overall human-centric environment.


In recent years, some Fortune 500 companies with the highest representation of women on boards financially outperform companies with the lowest representation of female staffing. (Center for Creative Leadership , n.d.)

Another surprising fact you may not be aware of is by rebuilding a neglected neighborhood can open the door for most of the local businesses. If these local businesses have a higher concentration of female workers, they reportedly have improved workplace morale and the overall bottom line. It especially applies true if there are females in leadership positions in those companies.


“A study conducted by the Peterson Institute of International Economics suggested that companies with 30% or more females in leadership positions can yield as much as six percent more profit. Building a diverse and inclusive workplace isn't just good for the community, it’s also good for business.


“Alibaba, China’s biggest online e-commerce company with a net worth of over $84 billion, is a great example of how a company’s focus on building an inclusive and supportive culture for women greatly affected their financial success. The company claims over 34% of its senior management are females. Alibaba's workforce also claims to have over 40% of females. Jack Ma, the previous CEO of Alibaba, once said, “If you want your company to be successful, then you should hire female workers!”.

Women are more likely to get their families out of debt. Families that are living in recovering communities are often weighed down by economic burdens such as neglected mortgages, high-interest loans, and unpaid debt that keeps them from being financially stable. However, in most cases when women in the household have a say in the financial decisions that may not be the case.


According to Bankrate, “men are 4.3% more likely to carry debt than women. Men also are more likely to fall behind on their mortgage and spend more than their credit allows. Women, on the other hand, are 67% more likely to seek credit counseling than men. And post-counseling, women are more likely to follow through with payments and eventually be out of debt.”


The overall contribution of over seven trillion dollars in annual consumer spending in the US alone is among the female gender. Of that 83% is consumer purchases, it’s no secret that women are the biggest and best consumers. In underrepresented areas, women are more likely to purchase from local businesses, keeping the doors open. Consequently, these traits increase the local wages and produce a thriving local economy, one that is supporting business owners.


As an author and public speaker, Chayo's book, especially ‘Your Credit Defines Your Creditability offer readers inspiration to help them learn the fundamentals of rebuilding their credit, as well as entrepreneurial and financial skills. Chayo ’s mission is to educate minority communities on the importance of having good credit in today’s society. When someone can build a positive credit resume, they can easily obtain passive income to increase their financial investments.



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