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Women taking over business travel

I am not a techie, but over the years I have learned how to incorporate basic technology into my day-to-day activities because it is imperative for communication and the work that I do.

 Statistics indicate that business travel and face-to-face meetings are still the preferred choice for many companies despite the technologies that exist to cut down on the travel.  Statistics from reports indicate that there were 514 million business trips taken last year by Americans alone which infused $424 billion into the US economy.

As the tide changes and women are taking on more prominent roles in various male-dominated businesses it’s easy to understand why many who prefer face-to-face meetings are women. Women are more focused on building strong bonds with business partners and bringing personable aspects to networking. Women thrive on connections. Men are typically more focused on getting the job done and keeping business, business.

Women and millennials now dominate business travel. Research conducted by the Upside Business Travel, in Washington, has determined that half of all North American business travelers are women and are much younger than men doing the same-  half of business travelers are less than 45.

Additionally, young millennials and women are learning to find more enjoyment while on their travels and are far more likely to mix business and pleasure by combining a work trip with leisure activities. They are taking more control regarding the business agenda and budget during their travels. Mixing business with leisure results in better productivity.

Jay Walker, CEO of Upside Business Travel, explains the growing trend in business travel:

“In the past, companies had very rigid guidelines for employee travel, but now we can see employees pushing back and asking for a budget, they’re saying ‘maybe I’ll book an Airbnb instead of a hotel, they’re saying ‘just tell me how much I need to spend, and I’ll decide how to spend it.'”

As the older male CEO’s and executives move towards retirement, it’s fantastic to see women stepping into those vacant roles and inspiring new, more balanced, methods for getting the job done.

Why women-led businesses are winning at crowd-sourcing

Looking back over my history in the workforce, from the time I was a teen to my years as a classroom teacher, and on through my first couple of years in my writing career, I’ve only now realized that every single one of my bosses was male. Even at the first two publications I worked at, men oversaw my work and steered the course of the sites and magazines.

It was not until I began freelancing, that I worked for a woman. And now as the editor at Women’s Post, I work for the first ever female boss in my personal history since my first days in the working world, so many years ago, and now honestly feel that my voice is heard and ideas are respected and appreciated.

Despite my own history, women-led businesses are becoming more and more prevalent and new reports indicate that new businesses are experiencing greater success than those led by men, when it comes to finding alternative means to gain capital.

Although women-led businesses still  often struggle to access capital  from a financial institution, to kickstart the business, women have demonstrated that they have a greater success rate finding and using new funding options, like crowdsourcing. Research based on studies by the National Women’s Business Council shows that this has to do with women’s use of social networks and willingness to be more open and personal when telling their stories on crowdsourcing sites such as Kiva and Kickstarter.

Success on Kiva relies heavily on entrepreneurs openly sharing their personal story and offering up as many details as possible to encourage investors to fund a business. Females have proven to be more able to gain funding due to willingness to be honest and open. Additionally, females statistically set more realistic goals on the said crowdsourcing sites, reports indicate.

Many women have smaller social networks than men, yet closer ties to individuals in that network, which means that those in the network are more willing to share info on their own social media networks. Sharing crowdsourcing links so friends, family and acquaintances can get involved in supporting an endeavor, is key, and research indicates that women’s close networks assist with this.

Unfortunately, female entrepreneurs are still seen as  “less credible” and “less legitimate” according to statistics from the National Women’s Business Council. Female investors are even more prone to select to work with male business owners over women. Yet there are millions of women-led businesses across North America, that , when combined, generate a revenue of over a $1 trillion, which means that the success rate of female entrepreneurs is on the rise.

The NWBC has determined that women entrepreneurs using Kickstarter were, on average, 9% more successful than men. Women account for 31% of users on the crowdsourcing platform, as well. Mentoring is also something that females are statistically more willing to seek and offer, which has proven to increase success rates at female-led businesses and promote a happier workplace.

What are your thoughts regarding the struggle women have to gain capital from financial institutions.? Share your thoughts and stories below.