Flexible Working to Attract and Develop Female Leaders
As part of our series on senior women in real estate, we explore the increasingly critical issue of work-life balance.
In a world where flexible working has become the norm, it's vital to understand how this shift is reshaping leadership roles. With Madison Lincoln currently working hard on several key senior searches, we're seeing firsthand how varied working arrangements can help our team thrive, whether they're in the office full-time, working remotely from France, or balancing home and office commitments.
The Case for Flexible Working
Flexible working is no longer seen a perk but a necessity, particularly for leaders managing the delicate balance between professional and personal responsibilities.
Productivity and flexibility can coexist: According to IWG's 2024 report Advancing Equality: Women in the Hybrid Workplace, 53% of women found that flexible working enabled them to pursue promotions or apply for more senior roles, rising to 61% among women from minority backgrounds.
While this isn’t solely a female issue, it’s often women who have either been forced to make life-altering decisions to pursue a career or trail blaze to secure flexible work practices. It’s certainly been helped along by a post-covid world which has normalised and proven the case for flexible working.
August is particularly relevant for those with school-aged children, but the benefits of flexible working extend beyond parents. At Madison Lincoln, we have diverse responsibilities outside of work, whether it's caring for animals, aging parents, or pursuing personal interests and hobbies that support our wellbeing.
Broadening the Talent Pool
Flexible working is not just about accommodating current leaders, it's about broadening the talent pool and creating opportunities for a more diverse workforce, including ambitious women. Flexible working can take many forms, including remote work, hybrid schedules, compressed hours, flexitime, part-time work, job sharing, and term-time working.
Senior roles demand significant personal sacrifice and time investment, and this flexibility is essential in retaining happier leaders. There is enough data and examples out there to shows that positive leaders make a huge impact on the performance, culture, and success of a company.
BlackRock’s recent study Lifting financial performance by investing in women shows that companies with the most diverse workforces outperformed competitors with the least diversity by 29%. The report also showed that companies promoting women into leadership positions experience improved financial performance.
Flexibility to Attract Talent
Is your organisation offering the flexibility needed to attract and retain top-tier talent?
Employers need to address the unique challenges women face in the workplace. This should include developing specific strategies for retaining women throughout their careers by evaluating flexible work options, parental leave policies, and expectations for travel and international assignments for both parents.
In an age where flexibility is synonymous with opportunity, companies that embrace diverse working practices will better attract and develop the next generation of female leaders.