According to a new KPMG study, the majority of women executives reported that their responsibilities expanded over the Covid-19 pandemic while their duties at home also increased.
“Advancing the Future of Women in Business: A KPMG Women’s Leadership Summit Report” had 900 participants of women executives from a range of industries across more than 150 of the world’s leading organizations. The survey provides insight into how female leaders manage their companies through the period of unprecedented uncertainty while also dealing with change in their careers, as well as their personal lives.
KPMG U.S. Chair and CEO Paul Knopp, commented:
Paul Knopp Source: LinkedIn
At KPMG, we remain committed to the important work of helping more women advance to the C-suite. During these challenging times, it’s more critical than ever for companies to find innovative ways to support women in the workplace and their families and foster cultures that support new ways of working, prioritizing mental health and wellness so they can thrive at both work and home.
The study revealed that two thirds of participants observed how their responsibilities changed or expanded during the past 16 moths and the events connected to the pandemic, while at the same time they tended to children and aging parents.
53% of women who participated in the study believe that their company’s culture changed in this period and focused on “flexibility, individual wellness and team inclusivity”. According to the research report, 76% adopted new activities in order to promote and cultivate wellness. 84% of participants said mentors were essential in developing their resilience and 64% relied on their professional support networks during last year.
The participants in the survey defined resilience as “optimism, adaptability, and agility but when asked about showing resilience during the pandemic they used empathy, compassion, and grace.”
Laura Newinski, KPMG U.S. Deputy Chair and COO said:
Laura Newinski Source: LinkedIn
Our latest study features remarkable stories of resilience and demonstrates the strength and fortitude of working women as they dealt with immense challenges over the past year and a half. Organizations that cultivate inclusive environments and offer strong support networks that include mentors and sponsors can help women navigate the challenges of today and tomorrow and help them advance and grow in their careers.
The study revealed that 60% of women could effectively network and develop new relationships in a virtual environment.
Nearly all participants found that they had change the way they lead or motivate their team in the volatile period. The reported that new priorities have emerged, such as an increased emphasis on open lines of communication, intentional listening and fostering more inclusive communities. 95% said that developing resilience was important in the advancement of their careers.
Last year, reports from the coronavirus crisis showed share price returns of female-led companies have registered better performance than their male counterparts in four out of nice business sectors. C200, membership organization of the world’s most successful women entrepreneurs and corporate leaders and IG collaborated on a report to show how some female leaders have dealt with the coronavirus crisis.
This March, LeapRate talked to a selection of female representatives from the technology sector for the International Women’s Day to discuss challenges they have faced as females in the industry and the importance of encouraging more women into senior roles to help shape the industry moving forward.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
