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News For You - Summer 2006We have developed this page to give our visitors the opportunity to see what's new, at a glance, in the business world and how it relates to our program. Take a moment to browse and see what's of interest to you!
Women Less Likely Than Men To Relocate For Work
Women Less Likely Than Men To Relocate For Work Women are less likely than men to relocate for their jobs, according to a study by Worldwide ERC (Employee Relocation Council) and Prudential Relocation. While more than eight in 10 men (81%) accept offers to relocate permanently, only 66% of women accept such offers. In 2003, women made up 30% of employees who were transferred; this number is up from 11% in 1986. The reasons for accepting relocation offers differ somewhat for women and men. Women are more likely than men to accept a relocation offer because it would move them closer to relatives, because it would mean better opportunities for their children, as well as better opportunities for their spouse’s job. Although women’s and men’s reasons differ, the top three reasons for accepting relocation are the same for both women and men: better pay, opportunities to expand their skills, and higher-level job title. In addition to differences in reasons for accepting relocation, the reasons for being unwilling to relocate also differ between women and men. While women are more likely than men to be concerned with how the move would affect their families, men are more likely to be worried about the cost of living in the new location. Source: Marketing to Women, May 2006
In 2006, the Women’s Business Development Center (WBDC) will celebrate its 20th year. Formed in 1986, the WBDC’s mission was to help women’s economic empowerment through entrepreneurship. The challenges facing women business owners 20 years ago were gaining access to capital, market and resources, government and corporate contracts, and business leadership. Although there has been enormous progress, these are the same challenges women business owners are faced with today. Twenty years ago, less than 10% of all U.S. businesses were women-owned. Today, it is nearly 50%. Women-owned businesses are the fastest-growing segment of the U.S. economy, and today, one in five is owned by a woman of color. Despite this progress, access to capital, procurement and leadership remain problems for women business owners. Only 7% of women business owners have equity financing with less than 2% of U.S. venture capital going to high-growth women-run firms. And, although banks may have come a long way in providing access to financing, most women-owned businesses still started using personal credit cards, personal assets, and help from friends and family.
Are family businesses fair to both men and women? Timothy Habbershon conducted a pilot study on gender in small family-owned companies and found that family businesses do treat men and women differently, often to the disadvantage of women. In the companies Habbershon studied, gender bias affected how leaders thought about the role of female employees, customers, marketing, and sales strategies. Habbershon found that gender issues created tension in both the family and the business, prevented women from getting proper leadership development, and limited the candidate pool. Habbershon notes that the effects of gender bias were most pernicious in succession strategies. In speaking with younger generations in family businesses, Habbershon found that while men assumed they would inherit the business, women didn’t know what their roles might be. Habbershon believes that it is important for those who head family businesses to address gender issues more actively. In order to do so, Habbershon suggests the following strategies:
Source: Business Week Smallbiz, Spring 2006
Women Leading the Way in Startups The number of women entrepreneurs who say they want to control their own destiny and are unafraid of being the boss is growing. Elaine Allen, professor of Statistics and Entrepreneurship at Babson College in Massachusetts worked on the Global Entrepreneurship Monitor (GEM) 2005 Report on Women and Entrepreneurship. Allen reports that “Women are catching up to men across the world.” Female entrepreneurs say being your own boss enables you to crash through the glass ceiling, maintain job security, and better balance family and work. The GEM report, prepared by scholars at the Center for Women’s Leadership, is based on data from more than 107,400 respondents in 35 countries. The study found that women entrepreneurs feel more optimistic than men even though men are still twice as likely to launch startups in high income regions like Britain and the U.S. The study demonstrated that women across the globe envision a higher growth potential in early-stage and established businesses than men do. Part of the reason women chose to take risks is because they develop strong networks and see other women succeeding. Almost 32% of women in middle-income countries and nearly 31% in high-income countries reported knowing an entrepreneur who started a business in the past two years. Women are taking the leap into entrepreneurship, especially in countries the GEM study terms middle-income, such as Venezuela and China, because a startup is often a necessity. According to Allen, this is a way for women to improve their standard of living. Allen says, “If jobs aren’t there, you go out and make them. That’s what women are doing.” A desire to climb the corporate ladder has also prompted women in high-income countries to take the leap into entrepreneurship. Even though entrepreneurs tend to put in more hours than others, especially when starting out, they don’t usually have to answer to anyone. Having the flexibility to create your own schedule, which makes it easier to have a family and a career, also encourages women to become their own bosses. Source: Business Week online, March 8, 2006
Women More Productive Than Men When it comes to personal productivity, women outperform men, based on a study that was conducted with more than 1400 men and women who completed a Productivity Quotient (PQ) assessment from 2004 and 2005. The self-administered PQ assessment covered 1000 questions measuring 10 factors that shape an individual’s personal productivity, which include: Preparation, Reduction, Order, Discipline, Unease, Concentration, Time Mastery, Information Management, Vitality, and Equilibrium. Although the overall Productivity Quotient (PQ) for both men and women fell in the “average” range overall, women’s PQs were consistently higher than men’s in all age brackets. Author Laura Stack drew a number of conclusions and insights based on the research results:
People who struggle with reducing time wasters that inhibit productivity should adopt some of the following tactics:
Source: WomensBiz.US, February 2006
Study: Women Discriminate Against Men Researchers suggest workplaces may have certain similar elements as the game show The Weakest Link. According to the authors of a 2005 study entitled Games and Discrimination: Lessons from “The Weakest Link”, there may be some similarities between the workplace and the game show. Kate Antonovics, professor of economics at the University of California at San Diego, and one of the authors of the study, suggests that The Weakest Link captures the competitive pressures of the workplace. She says, “The game is stressful, there is time pressure, performance is closely watched and the performance of those around you influences your success.” Antonovics and co-authors, Peter Arcidiacono of Duke University and Randall Walsh of the University of Colorado, chose to study The Weakest Link because players can vote against one another and are able to see the race and gender of each contestant. Published in the Journal of Human Resources, the study reviewed 103 episodes of the game show. The study evaluated the voting decisions of the contestants as well as their interaction with one another. Although Antonovics believes it is clear that a player’s ability level will influence whether or not he or she is likely to be voted against, the study looked to see whether a player’s race and gender influenced the likelihood that he or she was voted against. The researchers found contestants in the show did not discriminate on the basis of race; however, there was significant gender discrimination by women. According to the study, female contestants were more likely to vote against men than against women. In the first round of the show, the probability of a woman voting against a man was 23.3 percent, compared to a 15.1 percent chance that a woman would vote against another woman. “The fact that women are more likely to vote against men suggests that women discriminate against men simply because they prefer to play the game against women,” says Antonovics. How much this behavior translates to real work is still up for debate. Antonovics suggests, “It is important for human resource executives to ask themselves whether gender does play a role in promotion decisions.” Antonovics also notes that while more research in this area is needed, the lesson here is that the gender of someone’s co-workers may influence both job satisfaction and on-the-job performance. Source: Human Resource Executive
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