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How a Balanced Workforce Delivers Business Value

International Women’s Day 2019: #balanceforbetter

When the AspenTech Women’s Leadership Forum Steering Committee saw the theme for this International Women’s Day, #balanceforbetter, most of us immediately thought work-life balance… a challenge for many of us. When we took a deeper look, we realized that the focus is actually on gender balance. Creating a more balanced workforce doesn’t just benefit women and families – it boosts business performance as well. 

Companies that prioritize diversity and include diverse voices in decision-making have lower employee turnover and higher employee satisfaction, according to the latest McKinsey & Company “Women in the Workplace” report. Research by DDI revealed that companies with women holding at least 30% of leadership roles are 1.4 times more likely to have sustained, profitable growth, and are 1.7 times more likely to have greater leadership strength. 

However, women are often hired and promoted at lower rates than their male counterparts, creating a shortage of women with the skills and experience necessary for senior leadership roles. The McKinsey report explains, “even though hiring and promotion rates improve at more senior levels, women can never catch up—we’re suffering from a ‘hollow middle.’ This should serve as a wake-up call: until companies close the early gaps in hiring and promotions, women will remain underrepresented.”

There’s good news at AspenTech: even though many of our products and roles require deep scientific and technical knowledge—fields where women are traditionally even more underrepresented—we’ve got incredibly talented female staff on board. The Women’s Leadership Forum helps develop the skills AspenTech needs in its future leaders, ensuring women are prepared to successfully manage people and projects.   
 
My colleague Jennifer Danalevich, Chair of the Women’s Leadership Forum here at AspenTech, frequently emphasizes that creating cultural change calls for both men and women to participate. “It’s great for women to support each other, but we need men to support us as well in order to achieve balance,” she said. 
 
We asked some of the men who participate in AspenTech’s Women’s Leadership Forum events what inspires them to strive for balance. Most responded that they want to make sure the women in their lives have the same types of professional opportunities they do throughout their careers: job interviews, promotions, stretch assignments, chances to learn and lead, competitive salaries… the list goes on.  

If you’re looking for a new professional challenge, we’ve got opportunities at AspenTech offices around the globe. We invite women – and men – looking for an innovative, collaborative, entrepreneurial environment to apply. See available openings
 

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