Why female leaders are good for companies – and for the world

Learn how the most successful business women beat all odds and how you can use their strategies to boost your career.

At HerMoney, we love encouraging women entrepreneurs and helping listeners follow in their footsteps. The only problem is that there simply aren’t any enough those women out there. When it comes to getting to the top of the economy — whether it’s starting a successful business or leaping into the C-suite — there are still far too many hurdles for women. Only 8% of Fortune 500 CEOs are women and this number goes down to 1% when you look at women of color. Last year, only 2% of venture capital funding went to female founders. If women get this funding, it is less than the half the amount that male founders put up, and they’re often grilled by investors about their skills in ways that men just don’t have to worry about.

But it’s not only Women who suffer when we encounter these barriers. It’s men. They’re corporations. It’s the economy. If women don’t get a chance, the world loses out on new ideas, better products, and bigger gains.

Our guest for this episode has experienced this throughout her career as a reporter, and she wanted to set the record for women in business. Julia Boorstin is Senior Media and Tech Correspondent for CNBC and a regular host of the network TechCheck program. She is also the creator of CNBC disruptor 50an annual list highlighting private companies transforming the economy and she helped found the network Closing the Gap Initiativewhich includes people and companies working to close gender and diversity gaps.

For the last few years, Julia has been on a mission to shine the spotlight on women leaders. After looking at the data and interviewing more than 60 women leaders, she found that despite all the challenges women face, we are great managers, decision makers and innovators. Julia put everything she learned into her latest book, “When women lead: What they achieve, why they are successful and how we can learn from them.”

We dig deep into any research that highlights women’s leadership strengths — like our propensity to express more empathy, vulnerability, and gratitude. Julia found these three skills were critical to keeping businesses afloat during the pandemic.

“This [qualities] seem to be things that have nothing to do with leadership, nothing to do with power in business,” she says. “In fact, I believe they’re absolutely essential for connecting with your customers and employees, and for motivating people during these crazy times.”

We also talk about why women leaders are good at managing stressful situations, building collaborative environments, and instilling a strong sense of purpose in their organizations. And Julia argues that the obstacles women face make their businesses more flexible, creative and resilient.

Julia shares some tips on building that resilience so that you too can overcome any obstacles in your career or personal life. She also talks about the discrimination she faced in her own career as a reporter and how learning about gender bias has helped her assert herself.

In Mailbag, we hear from a listener who had trouble buying I-Bonds. Another listener wants to know how individuals can help reduce systemic wealth inequality. And everything you need to know in Thrive write a cover letter.

This podcast is proudly supported by Edelman Financial Engines. Let our modern asset management advise you and increase your financial potential. Get the full story at EdelmanFinancialEngines.com. Sponsored by Edelman Financial Engines – Modern Wealth Planning. All advisory services are provided by Financial Engines Advisors LLC (FEA), a federally registered investment advisor. Results are not guaranteed. AM1969416


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