Research

Diverse leadership team can bring value to company

Sidnee Peck, director of the Center for Entrepreneurship, takes the stance that employers should hire employees who bring a new viewpoint and set of experiences to the table. Peck explains how employers should go about it.

2014-08-04

By Sidnee Peck Director, Center for Entrepreneurship Question: There is a lot of discussion about the gender gap in representation and pay. As a male business owner in a male-dominated field, is it important to seek female employees? Answer: Above all, you should hire based on qualifications and culture fit, and make sure you are not dismissing candidates based on either gender. (It may be happening on a more subconscious level if your industry is predominantly one gender, so pay attention.) You have probably heard the advice “Hire people smarter than you,” and I would add, “Hire people different from you.” The best-case scenario is to hire someone who is both technically qualified and who brings new experiences and a differing viewpoint to the table. Significant research supports the value of having diverse boards and leadership teams, including gender diversity. I had a very positive experience with this myself. I was in a female and male executive team when I held the chief-operating-officer position with tech startup Alaris, Inc. My male partner (and company CEO) and I each brought valuable technical skills to the table, had great respect for each other, and often saw the world in very different ways. This provided an environment where we did not just agree with each other, but rather, we challenged each other on a regular basis to ensure we were running the best possible version of our company. I do see value in having women involved in leadership roles within a company, and every company leadership team should take the time to think about what this means. Ultimately, no matter whom you hire, keep these things in mind:

• Pay – Be sure to pay each employee fairly for the work done and the value offered. Be mindful of gender biases in salary and promotion decisions.
• Mentorship - If you have few women in your company, explore a mentorship program to create an environment of professional growth for the newer or younger employees who may face challenges in your industry. These mentors can be female or male (though it is always encouraging to have a successful female role model). The key is that the mentors provide guidance and support for their mentees to grow and have an equitable chance to be leaders.
• Culture – If your current work culture or environment would be uncomfortable or offensive to female employees, then take some time to have conversations about this with your team. Cultural change is one of the most challenging feats for a company, so everyone should be on board and should understand the value to the company in becoming more diverse and open.

First published in The Arizona Republic, August 4, 2014. http://www.azcentral.com/story/money/business/2014/08/04/diverse-leadership-team-can-bring-value-company/13604467/

Entrepreneurship Management