Female empowerment found an innovative strategy: make use of technology. We explore how digitisation brings balance to the boardroom.
It is uncommon to have women seen as qualified to occupy board positions. The glass ceiling effect points out the scarcity of women in boardrooms. Times have changed, however, and women are showing more skills to occupy top positions. Bringing down the unspoken belief that men are better at leading large corporations.
According to an article published in Fortune, currently there are 27 female CEOs in the top Fortune 1000 companies, which results in only 5% of the companies listed. A noteworthy aspect is that this small percentage of companies led by women CEOs generate 7% of the Fortune 1000’s total revenue. Successful women are showing their professional value by boosting their companies numbers and by making them reputable on the market. It is the case of Mary Barra, CEO at General Motors, who brought its Board a little bit closer to the digital age.
Digitisation is not a strategy, it is the strategy. And it can play a pivotal role in women’s rise on Boards. There are no longer limits to knowledge, women have access to the same amount of information. They take part in the decision-making process, alongside other Board Members. And bring a different, innovative perspective to the boardroom.
And while there are some that fear digitisation for lack of understanding it, it cannot overtake strategic thinking. Instead, technology helps to execute specific tasks much faster and better than humans, but it is yet to handle the ambiguity of certain situations where real-life experience and human intuition are invaluable. Technology will, however, continue to support female Board Members (and directors in general) in their decision-making processes, rather than make them redundant.
Software such as Sherpany Boardroom will help revolutionise how organisations are managed, by granting similar access to documents, agenda items and meeting minutes. It will help Board Members come together, rather than replace them. And save time. In the end, technology offers the answers to questions asked by humans. And smart CEOs, women and men alike know how to use technology to ask the right questions, make better strategic decisions and enhance their company performance.